British Business Bank approves another four lenders for CBILS
These new joiners can lend between £10,000 and £5 million to small businesses.
Financial Services/Finserv
Capital on Tap integrates TrueLayer to boost SME lending service
Capital on Tap has also created new services to aid COVID-affected businesses.
Cross River Bank raises $100m in Series C funding
The latest round will see Cross River Bank offer tech to venture capital firm in Malaysia.
Revolut loses two more financial execs a month after losing CFO
Both leave the bank after 12-month tenures.
LenderClose secures funding from Financial Plus Credit Union
The 8-figure Series B funding round began as an exclusive opportunity for the company’s initial investors.
Tradeteq to develop quantum-based credit scoring with Singapore university
The project is backed by the Monetary Authority of Singapore (MAS).
Chip raises UK’s ‘largest’ lockdown equity crowdfund on Crowdcube
Chip managed to raise £2.6 million from 4,240 investors.
Currencycloud among first non-bank firms to offer Swift gpi payments tracking
TransferGo, Penta and Money Mover were early participants in the pilot programme.
bunq launches shared ‘bunq +1’ accounts for parents and businesses
Users can add as many bunq +1s as they want for a flat fee of €2.99 each month.
Video: Top fintech stories this week – 24 April 2020
FinTech Futures’ weekly news round-up.
Noah bags $150m investment
The money came from unnamed institutional investors, including pension funds.
US unicorn AvidXchange lands $128m
The fintech is already backed by PayPal co-founder Peter Thiel and Mastercard.
UK trading app Freetrade to launch sixth crowdfunding campaign
Last year saw the fintech raise £1 million in just 77 seconds.
ING-backed Yolt app plugs into American Express
YTS said it was processing 14 million API calls on average per week.
Barclays launches CLBIL scheme amid coronavirus
Barclays is extending its support to businesses not covered by CBILS or CFF.
Portuguese government gets one step closer to approving fintech sandbox
The sandbox is part of the government’s Action Plan for Digital Transition.
University of Oxford & Mastercard team up on cyber skills programme
It will feature research, content and data from renowned academics and industry leaders.
How to shift gender balance in fintech
More than a third of fintechs in our sample did not have a single woman on their board.
Tech for good
Highlighting how tech companies have come to the rescue during the COVID-19 crisis.
Monzo applies for US banking licence
Monzo applied to the US OCC for the licence on Monday.
SoFi acquires Hong Kong stock trading app 8 Securities
“Hong Kong, a financial capital of Asia, is ripe for innovation,” says SoFi’s CEO.
Saudi Arabia’s fintech sandbox welcomes nine more start-ups
The sandbox is home to 30 fintechs.
Yemen’s Al Kuraimi Islamic Bank selects Temenos for digital banking
KIB currently serves 1.2 million customers.
Three US credit unions pick Bankjoy for mobile and online banking
The three institutions hold a combined $280 million.
Nordic API Gateway lands $5m from Danske Bank and DNB
The fresh capital will initiate an “aggressive growth” plan to achieve pan-European coverage.
The future of commercial lending lies in leveraging AI to enhance humans
Humans have been completely removed from the decision workflow and replaced by technology.
The in-between places
#LedaWrites has given me an expansive place where I could reflect, peel back and grow.
Paytm Payments Bank partners with Mastercard for physical card rollout
Beta users of the bank will be first to receive the new cards.
Swedish fintech Bokio lands $8m and merges with competitor Red Flag
The fintechs will have a combined user base of more than 80,000 customers.
Webinar: Getting reconciliation right in the ‘decade of data’
A blueprint for consolidating, automating and driving efficiency across reconciliation.
Israeli fintech BioCatch raises $145m in Series C
More than 40 financial institutions use BioCatch’s technology.
Glafka Capital implements Valk’s Corda-based solution
R3’s Corda platform underpins 40 other investment banks.
Challenger Zelf to launch banking offering solely through messenger apps
“We have migrated into the top screen time for Gen Z’s and millennial’s,” says founder.
Fenergo and IBM sign OEM agreement
Both firms will collaborate on the creation of financial crime solutions.
Looking beyond the coronavirus trading boom
Some trading apps see their future in the saving market.
Aquis Exchange selects big xyt’s Liquidity Cockpit
Aquis looks to support its market analytics following a bumper 2019.
Google plans debit card launch in the US
Google is preparing to launch an Apple Card rival soon.
ForgeRock raises $93.5m in Series E funding round
Digital identity firm plans to invest in research and development.
Phoebus Software appoints Unisys’ Mehran Radfar as COO
Radfar joins to “make a difference” at Phoebus.
UK fintech Zeux lets users shop on Amazon through its banking app
The feature is currently in beta.
