Video: fintech news weekly round-up – 05 August 2019
Some of this week’s news, in video format!
Innovation
Top fintech stories this week – 9 August 2019
Catch up on FinTech Futures’ top five fintech stories of the week – all in one place!
UK regulations push SVB further towards automation
SVB exec comments on Brexit and the UK’s supportive fintech environment.
Verrency and Coinify announces new virtual currency partnership
Libra brought virtual currencies into mainstream.
Credit unions and Payrailz launch CU Payz
The new fintech partnership is designed to give credit unions ‘next-generation products’.
ScaleFactor closes $60m Series C funding round
The platform has since raised $100m in 12 months.
JP Morgan Chase invests in accounting software platform FreshBooks
A JPMC representative will be joining FreshBooks’ board.
Nets and Przelewy24 create a strategic alliance
Its now one of the largest online payment service providers in Poland.
Fintech partnerships: the real benefit of Open Banking for incumbent banks
A deep dive into where the real value lies in Open Banking for incumbents.
Beynd scores $2m seed round
The company uses its own software to onboard its customers.
Tesla-fy your bank
Will banks ever truly reinvent banking?
Daily News at Sibos: be at the heart of the biggest fintech event of the year
London calling: explore opportunities with Daily News at Sibos 2019.
Getting to the future: learn, unlearn, persist. Repeat.
But unlearning is the only path to survival. Even if you can’t learn to like that, you learn to value it.
Commerzbank tests blockchain payment solution with Daimler Trucks
Current payment systems require a human to trigger the process.
Saxo Bank completes acquisition of BinckBank
Saxo intends to initiate the statutory buy-out procedure.
First-time homebuyer platform Morty raises $8.5m
The funding was led by New York-based investor Prudence Holdings.
Robinhood gets greenlight from FCA to launch trading app in UK
The 2013-founded Silicon Valley start-up offers a cheaper way to buy and sell US stocks and shares.
RBC launches student experience on mobile app
The ‘Mobile Student Edition’ is designed to tap into the Gen Z market
Mastercard acquires Nets’ real-time payment business
Nets’ Corporate Services business offers a gateway into several European markets
Trov partners with Lloyds and launches white-label insurtech platform
Later this year, Trov and Lloyds Banking Group will release an insurance product on the ‘Powered by Trov’.
Piggy bank start-up ERNIT sells up
One source says the company is trying to see what the market appetite is for a solution like theirs.
Banking Technology Awards 2019: become a sponsor
Working with us as a sponsor ensures your brand is seen by the best and brightest decision-makers in the industry.
FCA delays SCA payments rules after threat to sales
Companies will have until March 2021 to implement most of the technical requirements.
Deutsche Bank creates digital bank Fyrst
Currently the project is suspended by the former subsidiary Postbank.
Fraud fighting platform secures additional $2.5m funding
Eftsure will be expanding the product suite to cover international payment verification.
Elevator Ventures invest in RegTech platform kompany.com
kompany combines AI, robotic process automation and blockchain technology.
Klarna bags $460m equity funding
It’s now the most valuable EU fintech with a valuation of $5.5 billion.
Experian closes $20m of Series B1 in CompareAsiaGroup
Making this its fifth major investment in Asia Pacific since 2017.
Nasdaq uses AI to root out stock-market abuse
It detects irregular trading patterns and alerts officials according to machine-learning.
Federal Reserve reveals real-time payment system plans
FedNow will be available to all US-based banks by 2024.
Standard Chartered Bank launches Shanghai eXellerator lab
It will tap into China’s advances in artificial intelligence, biometrics and mobile payments.
SmartStream partners with Finanz Informatik Solutions Plus
This will support reconciliation processes for financial institutions.
Penta raises €8m in funding round
The round was led by HV Holtzbrinck Ventures.
Three lessons traditional banks can learn from their younger siblings
Teamwork, transparency and creating a competitive culture is key.
Federal Bank launches instant online demat account
It is the first bank in India to offer the service.
Ipagoo enters administration
This was to protect the interests of Ipagoo’s customers.
Grayscale selects Coinbase to store $2.7bn worth of assets
Coinbase Custody had reached $1 billion in crypto AUM in May.
Standard Chartered and Linklogis debut joint transaction on blockchain platform
The bank leveraged Linklogis’ WeQChain platform.
Indonesia shuts down 826 illegal fintechs in 2019
The regulator began a crackdown last year.
UBS partners with BizEquity
UBS’ wealth management arm can access BizEquity’s database of businesses and valuation information.
