Video: Top fintech stories this week – 14 August 2020
FinTech Futures’ weekly news round-up.
Financial Services/Finserv
Sombank picks Temenos Islamic banking systems
The new bank on the block plans to aid financial inclusion in Somalia.
Mortgage fintech Habito lands £35m Series C, becomes B Corp
The round attracted new investors Augmentum Fintech, SBI Group and mojo.capital.
UK challenger bank Chetwood quietly lands another £10m
“If it wasn’t for COVID-19, we’d be well on our way to turning a profit.”
Payments fintech Vitesse raises £6.6m in Series A funding
Vitesse brings total raised to £7.3 million with fresh injection.
SimCorp puts Dimension on the cloud with Microsoft Azure
Investment systems vendor signs public cloud deal with Microsoft.
Federal Bank selects Fiserv FirstVision to support new credit card
The Indian bank needed a solution to power end-to-end issuance and processing.
Huntington Bancshares picks BillGo for faster payments
The Ohioan bank wants to increase the transparency of its services.
ABN Amro to slash size of investment bank after losses
A €703 million impairment charge is behind the bank’s losses.
White paper: Insider’s guide to secure & cost-effective storage solutions for financial services
Object storage consolidates massive data sets into a single, easily-managed and cost-effective environment.
KB Kookmin continues crypto custody development with new partners
The South Korean bank expects artwork and real estate to be traced via blockchain in future.
Oracle wins Flexcube deal in Germany
Paymentworld and Heartland Bank pick up Oracle’s flagship system.
N26 founders get injunction against employees’ works council
A German union is still trying to push on with the meetings.
UK pensions firm Options teams with US Halal fintech Wahed Invest
Options UK thinks there is a noticeable gap in the Islamic pension market.
India’s BaaS Nuclei brings train tickets to banking apps
Nuclei currently has 16 bank customers across India and the Middle East.
Hong Leong Bank launches mobile-based junior account
The app is designed for use by both parents and children.
Robinhood kicks off hiring spree in Texas and Arizona
Trading app says it plans to hire hundreds of new support staff.
Metro Bank goes live on Sensibill after successful pilot
The launch is part of a wider technology drive on the bank’s mobile app.
American Express looks to buy US fintech lender Kabbage
Kabbage was last valued at more than $1 billion.
Dosh powers PayPal’s Venmo and US challenger Jelli
The fintech says it will soon have 60 million indirect users.
Magic mistakes and how to make them
Do everything in your power to minimise the avoidable mistakes and the impact of the less exciting omissions.
Payments group Stripe snatches General Motors’ CFO
The payments company has been building out its senior team in recent months.
OE Federal Credit Union picks Symitar’s Episys system
The credit union plans to host the Episys system on the cloud.
Revolut’s losses treble to £104.7m after year of rapid growth
Revolut’s revenue was up to £162.7 million in 2019.
Facebook forms financial unit led by Libra creator
The new division will cover all financial endeavours by the company.
Women need to be empowered not preferred, says Modularbank CEO
“They looked at me, as if to say: ‘what is this girl doing here?'” says Vene.
Standard Chartered signs multi-year cloud deal with Microsoft
The bank is shifting a series of systems to the cloud by 2025.
Regtech firm kompany raises $6m in venture funding
The firm plans to use its new cash to develop KYC solutions.
Streamlining manual processes amid COVID-19
Find out how to digitise manual documentation processes with Foxit Software.
Containers and PCI DSS: 10 requirements financial services must follow
These requirements can present a challenge to financial services now leveraging containers.
TransferWise delivers cross-border transfers for Aussie challenger Up
TransferWise thinks there’s money on the table in Australia.
CIH Bank goes live on Finastra corporate banking solutions
The Moroccan bank wanted to boost the online availability of its services.
Banking offering for landlords Zibo lands $10.5m
Zibo is a fintech for the “underserved landlord”.
Business banking challenger Wise launches premium account in US
The Californian challenger piggy backs off BBVA.
ICE agrees $11bn Ellie Mae acquisition
Exchange operator aims to boost its nascent mortgage business.
Westpac hires Scott Collary as new COO
Aussie bank snags a new executive from Bank of Montreal
UK fintech VibePay launches business accounts
The fintech – which launched last October – has also integrated with a host of new banks.
Banks with IT-savvy board are hit less by cyberattacks and downtime
IT outsourcing expenditure increased by 10% in 2018 compared to 2017.
What the Fintech? Episode 11 | Financial inclusivity in Russia
The CEO of Yandex Money talks about financial inclusivity in Russia.
Goldman appoints Mathew McDermott as head of digital assets
An old-school banker takes a digital currency role at Goldman.
