IBM makes major changes to executive leadership
New CEO Arvind Krishna will take the helm.
Financial Services/Finserv
Klarna lands $200m from CBA for Australia launch
CBA will own half of Klarna’s Australian and New Zealand business.
JP Morgan plans to cut hundreds of jobs across consumer division
It will notify the impacted staff on 6 February.
US paytech BandPay set to help musicians get paid
Funds aren’t released until both musicians and producers deliver on a project.
How SalaryFits is connecting banks with the unbanked
FinTech Futures speaks to its CEO Délber Lage about its platform and future plans.
Griffin raises £3m to take aim at banks’ legacy tech
The start-up will offer a fully-regulated banking platform for fintechs.
Industry undecided on UK’s fintech funding success
The industry is undecided over roughly $1 billion dollars.
EXCLUSIVE: Drugs, defecation, and graffiti at HMRC’s Manchester headquarters
Government body aims to clamp down on “reprehensible” behaviour.
Why is digitised cash better than stablecoins?
Future work in digital identity may lead to additional features and functionality.
US neobank Rellevate picks Technisys for core tech
The challenger will offer payday advances by selling its service through employers.
Telenor Microfinance Bank selects Temenos T24 as new core banking system
Pakistani institution uses NDC as implementation partner.
eBook: Digital identity management – the foundation of successful financial services
How to identify, recognise, authenticate and protect customers – wherever they are, at scale, in real time, across a growing number of devices, and connected objects.
UK fintech Freetrade hit by claims of toxic workplace culture
Former staff said there was no HR person or office manager to voice concerns with.
EXCLUSIVE: TCS to power Israeli digital bank with debut platform offering
Unnamed new challenger will use TCS for its entire tech stack.
Pleo rolls out credit cards and secures e-money licence
The start-up is switching up its purely prepaid card offering model.
How FIS developed its “evergreen” core banking system
FinTech Futures speaks to Andrew Beatty of FIS about its new platform.
The digital transformation bod’s infinite playlist
The soundtrack to the cycle of emotions from the day you get the job to the day you deliver results.
UK challenger Monzo in talks with SoftBank for £100m fundraising
Monzo’s co-founder met up with the Japanese investor in Mayfair this month.
Sudan’s Al Khaleej Bank selects Path Solutions and iMAL
Islamic bank looks to become leader in its market.
Barclays invests in digital receipts start-up Flux
Barclays already uses Flux’s technology on its beta programme Launchpad.
Kenya’s Standard Investment Bank plans $100m FX-focused fund
Mansa X as the fund is known, returned an average 24% and closed at $3 million.
API builder Teller raises $4m to challenge Plaid
Teller’s co-founder: “I fear for the future of Plaid’s product”
Central Bank of Egypt pilots eKYC solution for financial inclusion
Egyptian regulator also plans internet banking overhaul.
UK’s PSR seeks input on New Payments Architecture competition issues
Regulator calls for comment ahead of 2021 launch.
The future of trade finance
We speak to Mastercard, NatWest and Marco Polo senior executives about their partnership.
Tally launches 2.0 version of UK Faster Payments-linked app
Tally is not a cryptocurrency, because it’s linked to a tangible asset.
Nucleus Commercial Finance gains £25m funding line from Paragon Bank
SME lender plans to boost support for customers.
The rise of investment apps
There’s an appetite to save and invest despite low interest rates across Europe, Australia and the US.
Pine Labs becomes Indian unicorn after Mastercard investment
Pine Labs valued at $1.5 billion after latest financing.
Neocova gains $9.5m backing from community banks for AI-led tech
Vendor finds investment from six community banks.
Fintech’s diversity performance last year and predictions for 2020
A digital approach to inclusion training can help fintechs with smaller budgets.
API provider Currencycloud raises $80m in Series E funding
The round was co-led by Visa and SAP’s venture arm Sapphire.
FCA appoints Christopher Woolard as interim chief
Former head of strategy takes over from BoE-bound Andrew Bailey.
Bank of England seeks public cloud technology partner
Regulator looking into benefits of SaaS and PaaS.
Finnish SME banking service Holvi launches in UK
The challenger already has 200,000 customers largely in Finland and Germany.
Heidelpay seeks acquisitions and eventual IPO
“An IPO is of course always an option for fresh capital,” says CEO Mirko Huellemann.
Greensill pledges to help SME suppliers after ombudsman probes
The lender says it needs to “think about the way that [its] capital is being delivered”.
Catalyst Fund raises $15m from JP Morgan and UK Aid for emerging market fintechs
Thirty fintech start-ups from South Africa, Kenya, Nigeria, India and Mexico will get funding.
Video: Top fintech stories this week – 24 January 2020
FinTech Future’s weekly news round-up.
Payments security: A year in review
Majority of the largest breaches to be reported in 2019 were caused by poor security protocols.
