First Bancorp completes $1.1bn acquisition of Santander Puerto Rico
The merger is expected to complete in Q2 2021.
Financial Services/Finserv
Aussie BNPL Zip closes $296m acquisition of US player QuadPay
“The US is a critical part of our global strategy,” says CEO.
Risky business
Everyone will have a part to play, but the risk teams will set the tone for what comes next.
Singapore’s cross-border transfer fintech Nium lands EMI in UK
Nium evolved from a consumer remittance service to a B2B offering.
Cornerstone Brands plans acquisition of FXPress Payment Services
Men’s toiletries brand makes a move into payments.
ABN AMRO’s business finance fintech New10 loses CTO
“[We’ve] firmly cemented the digital lending category in the Netherlands,” says Boersma.
Pan-African challenger Union54 to launch in 2021
Both Union54 and Zazu were founded by Perseus Mlambo.
Saudi Stock Exchange launches new markets on Nasdaq technology
Tadawul debuts derivatives market and clearing house.
Modulr is first non-bank to launch Confirmation of Payee
The second product launch by the fintech since its £10m grant.
Singapore fintech Atlantis enters India with challenger Neo
Atlantis believes market adoption in India will be particularly successful.
Revolut customers got paid late last week after technical glitch
Several users said they couldn’t get through to an agent.
Viva Republica raises $173m for “one-stop” financial app
The tech company plans to diversify financial market in South Korea
Varo Bank goes live on Temenos Transact core banking system
New US bank prepares for post-launch life with Temenos.
FinovateFall Digital: Delivering concrete ROI during unprecedented times
The future of finance is digital. Free tickets to FinovateFall available!
White paper: Next-gen virtual hardware security module (vHSM)
Noted cryptographer and Unbound’s co-founder/CEO Prof. Yehuda Lindell explores virtual HSMs, at length.
YOU are the first line of your own defense for fraud prevention
Be vigilant online! You are your first line of defense against fraud.
How banks can balance UX and security amid a pandemic
How face-based biometrics and AI can deliver smooth digital onboarding and stamp out fraud.
Singapore firm Razer reveals overseas digital bank plans
“With a digital bank, being more nimble, we want to build a global business”.
NerdWallet steps outside US, acquires UK’s Know Your Money
Know Your Money had some five million consumers and 1.2 million business clients in 2019.
Swiss challenger Neon lands $5.5m, bags new investor in Helvetia
“The cooperation with Neon gives Helvetia the opportunity to access new customers.”
US payments start-up Finix lands $30m from Lightspeed & Amex
To date, Finix has raised $96 million in venture capital.
Spanish sustainability fintech Mitto to launch in UK next year
“Every payment counts and determines the world we live in.”
China’s wealthiest turn to crypto to transfer $50bn in assets abroad
Stablecoin Tether has accounted for 93% of stablecoin usage across East Asia in recent years.
Klarna’s losses widen following first year of negative profit
Profits have been slowly declining for the company.
ABN Amro partners with Techstars to create start-up accelerator
The collaboration will connect ABN Amro with Techstars’ global network.
The great asset servicing cloud migration and its implications
Cloud migration requires a considerable initial spend and some are simply not yet ready to commit.
Making Tax Digital policy changes explained
UK gov’s initiative, Making Tax Digital (MTD), aims to make tax administration simpler.
Video: Top fintech stories this week – 28 August 2020
FinTech Futures’ weekly news round-up.
1st United Credit Union picks Symitar’s Episys system
The credit union will run its core through Jack Henry’s private cloud environment.
US credit fintech for minorities Esusu lands £2.3m
More than 5,000 renters in the US have applied for Esusu.
Fronted lands seed investment from Monzo-backer Passion Capital
Fronted wants to help renters finance their rental deposits.
NZX halts trading for third day after DDoS attack
NZX came under attack on Tuesday through its internet service provider.
UK savings app Chip plans Series A on back of 2020 growth
Chip has seen a 138% savings growth compared to 2019.
VPBank revamps treasury systems with Finastra
Vietnamese bank partitions treasury ops from main core banking system.
N26 “nearly” hits half a million US customer mark
“Over the past 12 months, we have learned a lot about our US customer base.”
ID start-up Socure lands $61m from Citi, Wells Fargo & MVB
The start-up was co-founded back in 2012.
R8 relaunches as Mode, appoints ex-Alipay CEO Rita Liu as CCO
Mode is one of R8’s two entities.
Infographic: Creating standardised platform for Fortune 500 financial data services company
Learn how Panduit and Cisco Services successfully accomplished this major project in just 90 days and within budget.
CredoLab raises $7m in Serie A funding
Singapore fintech plans product expansion with new funding.
Worldremit acquires fellow remittance firm Sendwave
Sendwave has a presence in East and West Africa.
