Mexico’s neobank Albo raises $26.4m Series A total
The round was led by Valar Ventures, PayPal founder Peter Thiel’s fund.
Financial Services/Finserv
National Bank of Fujairah preps SME banking platform
UAE bank aims to tap into country’s deep SME market.
Video: Top fintech stories this week – 13 December 2019
FinTech Future’s weekly news round-up.
Time is now: US investors seek fintech opportunities abroad
Fintech investors are looking outside of the US for greater returns.
Hong Kong’s fintech WeLab raises $156 million to launch WeLab Bank in 2020
Backers included Alibaba’s Hong Kong Entrepreneurs Fund and China Construction Bank.
Finovate: fraud prevention, cybersecurity and regtech
The eMagazine features unique insights from the FinovateAsia and Middle East shows.
Bank of Lithuania opens up reporting API tests to three local fintechs
ConnectPay, Interpaylink and Paysolut will all be part of the regtech sandbox.
Portify raises £7m to offer gig economy and freelancers access to credit
The UK start-up landed a partnership with Deliveroo earlier this year.
Mexican neobank Flink gains seed funding from Spanish firm Latina
The Spanish technology company sees a bright future in Flink.
AxiomSL joins Temenos MarketPlace
Vendor will place its ControllerView solution on the Temenos catalogue.
Berlin-based insurtech Wefox raises $110m Series B extension
The CEO puts success down to its technical understanding of risk.
Token turns digital money solution into new paytech M10
M10 is building a “bank-grade digital money rail”.
Mexican challenger Fondeadora nabs $2.5m in funding
Neobank seeks to reach underbanked with smartphones.
Are you a homo economicus? Fintech and the human touch
Time to embrace behavioural economics – a mixture of psychology, decision science and economics.
The time has come to make Open Banking evolve into open finance
The whole financial world must evolve decisively and with openness when approaching and preparing for innovation.
Freelance payments platform Paydesk partners with TransferWise
TransferWise’s API will mean users won’t have to consult their bank to get paid.
JP Morgan embroiled in yet another racism scandal
The New York Times obtained two recordings highlighting racial discrimination in the bank.
Apple Card fees pinch retailers’ profits this Christmas
Supermarkets are taking a stand against the fees.
Banking Technology December 2019 / January 2020 issue out now
A year in review.
DBS Wealth Management extends ten-year partnership with Avaloq
The agreement will see an expanded version of Avaloq Banking Suite deployed in Singapore.
Open banking start-up Bud signs three-year deal with HSBC
The deal follows Bud’s huge staffing restructure and market change.
Plug and play platform FintechOS raises £10.7m
The start-up enables banks and insurance companies to compete with challengers.
Necessary conditions and sufficient convictions
If your “why” is simply “to make money”, your proposition may carry all the cynicism of yesteryear.
Freetrade brings first native full stack solution to UK
The exec team come from Snapchat, Google and KPMG.
Santander and Elavon extend 15-year payments partnership
The two firms will continue a payments partnership signed in 2004.
Montréal’s FlexPay raises $6m in seed round
The fintech says 24% of recurring credit card transactions are falsely declined.
Brazilian fintech Cora raises $10m, founded by Wirecard company creators
Founders Igor Senra and Leo Mendes created MOIP which was bought by Wirecard in 2016.
Deutsche Bank plans €100m streamlining project for retail ops
German lender continues its dramatic savings plan.
Morgan Stanley plans 1,500 job cuts
US bank wants to protect itself from economic headwinds.
EBA publishes sustainable finance action plan
EU regulator seeks early action on green investment.
Cboe Global Markets agrees to acquire EuroCCP
The deal is expected to close in the first half of 2020.
UK remittance fintech Paysend secures Canadian MSB licence
The paytech says its card-to-card service is now used by more than 1.2 million customers.
How to choose the right jurisdiction for opening a company
Brigewest explores how the Middle East has become an attractive region for businesses.
Findexable report: London bests other European fintech hubs despite Brexit
San Francisco secured the top spot – up from eleventh place last year.
National Bank of Kuwait replaces its legacy systems with Murex’s MX.3
It will become NBK’s choice for trading, bookkeeping, risk management and more.
Legacy players might win the war in 2020
Will fintechs continue to gobble up customers from legacy players?
The 20th Banking Technology Awards winners have been announced
It was a brilliant celebration of excellence and innovation in the banking industry.
FCA hands out record level of fines in 2019
UK watchdog has handed out £391 million in fines so far in 2019.
Nets pilots facial recognition for payments with Danish office workers
Office workers will pay for their lunch using their face.
JP Morgan Chase partners with Envestnet Yodlee giving customers more visibility on their data
All customer data will now funnel through the bank’s “secure API”.
