Former Wells Fargo CEO barred from banking industry, fined $17.5m
Seven other former Wells Fargo executives were reprimanded by the OCC.
Financial Services/Finserv
What does open finance mean for the wealth management sector?
Five opportunities that are both clearly beneficial for investors, and technically very feasible for FIs to develop.
Liberis raises £32m to boost growth plans
The funding for the SME finance provider was led by investment firm FTV Capital.
Aussie neobanks challenge country’s big four banks
ANZ, Westpac, NAB and Commonwealth Bank have lost a collective half a billion dollars.
Digital broker Stake releases UK beta app ahead of February launch
The app plans to expand across Europe “in the coming months”.
Minnesota’s Sentry Bank selects CSI NuPoint
St. Cloud bank goes with CSI to power core processing and digital.
Switzerland’s Neon scraps abroad card fees to win more users
The challenger tries to win ground from UK’s Revolut and Germany’s N26.
Gig economy fintech SteadyPay raises £2.9m to tackle income volatility
Roughly a seventh of the 32.54 million employed in the UK are gig economy workers.
Cloud: Does it deserve a bad rap from the Treasury?
The Treasury Committee singles out the cloud as a “source of systemic risk”.
Living in the not knowing
Building the future is not about what you know. It’s about what you dare believe is possible.
Monese becomes UK’s latest fintech unicorn
The challenger aims to close £100m funding in the first half of this year.
RBS sees flurry of executives leave including BÓ’s CEO
The bank sees a major reshuffle under new chief Alison Rose.
HAB Bank implements Jack Henry’s commercial lending platform
New York-based community bank wants to boost its commercial ops.
Qonto raises $115m round led by Tencent
The SME challenger bank says it’s the largest funding round ever for a French fintech.
Goldman cuts personal lending after launching Apple card
Its partnership with Apple has taken some of the momentum away from Marcus.
Ask the expert: how can I convince a retailer’s CFO to work with us?
You’ve had a successful first meeting with a prospect. How do you persuade them to sign a partnership?
Islamic banking app Niyah launches in UK
The challenger says the UK’s Muslim community has been “financially isolated”.
DBS launches QR-code based b2b payments
DBS’ QR-code based solution is powered by DBS Rapid and DBS Max.
Tonik digital bank selects Finastra Fusion Essence
The Philippines’ first digital bank selects its new core.
FCA admits it does not track frequency of funds that block investor withdrawals
The UK financial watchdog has been severely criticised for its lack of oversight of several funds.
Plaid and Honey: How consolidation helps and hinders competition
Consolidation is now becoming synonymous with standardisation – breeding competition.
A thousand EU financial firms plan to open UK offices after Brexit
EY estimates that around 7,000 positions would be relocated from London to Europe.
ICAP founder to invest £25m in new fintech fund Element Ventures
It’s one of the largest investments Spencer has made since selling Nex to the CME.
For the sake of fraud fighting: how to secure online transactions on the Russian market
All the new forms of digital interaction are getting particularly vulnerable to fraudulent activities.
Volt closes $70m ahead of IPO plans
Volt plans for $50 million Series D round with British and Middle Eastern investors.
Lydia raises €40m in Tencent-led Series B funding round
Tencent-backed funding to be used to avoid “costly mistakes”.
Azimo shake-up sees appointment of new CFO and COO
Remittance fintech looks internally for C-level replacements.
BMLL appoints Paul Humphrey as CEO
Johannes Sulzberger, outgoing CEO, will remain on the board as a non-exec director.
Brazil’s Ebanx launches beta digital wallet Ebanx Go
The fintech is testing the digital wallet with 10,000 customers.
Japan’s MUFG switches CEO after first year, digital chief takes control
The unusual decision points to the bank’s newly-placed importance on fintech.
Video: Top fintech stories this week – 17 January 2020
FinTech Future’s weekly news round-up.
Fintech Autenti lands $4.48m from three major Polish banks
Alior Bank, BNP Paribas and PKO Bank Polski have all invested.
UK regulators fire Libor warning shots as deadlines loom
The FCA and Bank of England tell industry the time to act is now.
Revolut valued at $5bn by investors ahead of new fundraising
The valuation is nearly three times its last estimated valuation of $1.7 billion.
When it comes to supporting the underbanked, the best solution might be a little old school
Community banks and the underbanked need one another.
Chinese regulators planning digital banking go-ahead
New set of rules could see a bevy of digital challengers in China.
How start-up Minka is building LatAm’s plumbing for real-time payments
Exclusive interview: “We’re a small start-up doing the work of big players,” says Minka CEO.
ICICI Bank launches portal with around 250 APIs for fintech devs
The bank offers four times the amount of APIs launched by Yes Bank last year.
For love or money
The technology liberates us in the most terrifying way.
Goldman Sachs quietly releases Marcus app three years after launch
The app was designed to be Goldman Sachs’ eventual main mobile face.
