Affirm files IPO application, but financials are confidential
Fintechs in the BNPL space have seen their valuations rocket.
Lending
Ranqx signs digital lending deal with Mambu
The New Zealand firm will deploy Mambu tech alongside its own systems.
LendingClub shuts retail P2P offering as it focuses on institutional investors
The fintech allowed consumers to invest in Notes, corresponding to fractions of loans.
Nigerian fintech Lidya lends $3m to SMEs in Eastern Europe
The fintech start-up expanded into the region during the beginning of the COVID-19 lockdown.
Banking Technology October 2020 issue out now
Educate, advocate, invest: It’s not enough for companies to pay lip service.
Welsh neobank Chetwood Financial unveils second lending product
Newly launched BetterBorrow is targeting “a slightly better credit mix” than LiveLend.
UK mortgages & savings: witnessing a digital transformation
There’s a clear demand in the UK market for a proven technology provider.
Aussie start-up WeMoney raises $2m in seed funding
Financial health app plans to aid Australians in paying bills.
French lendtech October raises €258m
€200 million of investment is headed towards Italian firms alone.
Transforming the debt collections experience with self-service
The more intelligent collections virtual agents are, the more positive an impact they can have.
Agricultural bank Oxbury picks Naqoda for core banking
Cloud-based vendor gains pioneer partner in the UK.
Bank of Baroda searches for new digital lending platform
Bank of Baroda searches for new digital lending platform.
Webinar: Lending digitalisation & AI: Beyond the hype – what’s concrete?
Real customers’ use cases demonstrating the benefits of AI throughout the entire credit lifecycle.
UK fintech trio found Cape to tap Australia’s SME credit card market
Australians’ credit card debts fell to a 15-year low in July.
Live Oak Bank deploys Finxact core for deposits and loans
The US lender picked Finxact in 2018 to revamp its core systems.
CaixaBank and Bankia confirm merger creating Spain’s largest lender
For every Bankia share, CaixaBank will exchange 0.6845 newly issued shares.
UK fintech Funding Xchange lands $10m in Series A funding round
The fitnech last raised funds in November 2019.
German fintech lender Monedo files for bankruptcy
Founded in 2012, Monedo was called Kreditech until earlier this year.
Klarna raises $650m funding at $10.6bn valuation
It has doubled its value which was previously set at $5.5 billion just over a year ago.
JP Morgan fires staff for COVID-19 relief funds fraud
The largest bank in US clamps down on suspicious staff activity.
Ohpen acquires cross-border mortgage vendor Davinci
Dutch technology firm plans international expansion with new suite of products.
MarketFinance raises £50m to support CBILS “last minute dash”
Business lender plans to help applicants squeeze in before September deadline.
Tandem Bank sunsets credit cards, plans core restructure
Tandem’s Cashback Credit Card will shut down in February 2021.
OakNorth appoints Raj Cherabuddi as VP of engineering
Former Teradata man to lead development of OakNorth’s credit platform.
Swedish Export Credit Corporation picks FIS for loan origination
SEK picks Commercial Loan Origination and FIS Ambit.
Credit marketplace Auxmoney picks up €150m in new funding round
Existing investor Centerbridge now owns the majority of Auxmoney’s equity.
ABN AMRO’s business finance fintech New10 loses CTO
“[We’ve] firmly cemented the digital lending category in the Netherlands,” says Boersma.
Artis Technologies secures $1.5m in seed funding
The Atlanta lendtech grabs its first injection since launching in March.
OakNorth Bank appoints Rajesh Gupta as new CFO
Current CFO Ochoa steps down to move closer to family.
Silicon Valley Bank looks to hire 80 people in UK office
The bank has hired 30 staff in the first half of the year.
British Business Bank extends CBILS deadline
Firms have two months to consider the cases, making the final approval on 30 November.
American Express acquires SoftBank-backed Kabbage
Reports earlier this month put the value of the acquisition at up to $850 million.
Kenyan loans via mobile phones drop 50%, says KCB
Defaults have more than tripled, according to KCB’s CEO.
China culls almost 6,000 P2P lenders in industry crackdown
A two-year programme has left only 29 firms in the country.
John Legend-backed challenger Cred.ai runs beta in US
The fintech has built its own underwriting which it intends to outsource.
Nationwide Building Society deploys Mortgage Brain’s Lendex
The system allows advisors to submit a mortgage application through the back office.
Mortgage fintech Habito lands £35m Series C, becomes B Corp
The round attracted new investors Augmentum Fintech, SBI Group and mojo.capital.
UK challenger bank Chetwood quietly lands another £10m
“If it wasn’t for COVID-19, we’d be well on our way to turning a profit.”
OakNorth’s UK bank has approved £600m in loans since March
Some £220 million of the £600 million came from government schemes.
Banks adapting to post-COVID-19 world overlook power of data
Banks can use data to stand out from the competition and fortify their position.
