Rangewell calls for Nationwide’s returned £50m to go towards COVID-19 effort
Business finance firm says the bank has abandoned finance plans “when they are most needed”.
Lending
Liberty National Bank signs up Teslar to boost commercial lending
The Oklahoma-based bank aims to stand out from the crowd.
FCA plans financial relief for customers amid COVID-19 pandemic
UK regulator wants a freeze on loan and credit card debt.
UK fintech Tully helps distribute COVID-19 payment relief
The fintech wants to reach two million people in its first eight weeks of launch.
Virtual bank Airstar launches pilot in Hong Kong
The digital bank will onboard roughly 2,000 customers.
Nymbus launches loan processing system for US banks to deliver COVID-19 relief
Nymbus says it has digitised the entire Paycheck Protection Programme (PPP) loan process.
Patch Homes rebrands to Noah & offers assistance for homeowners
It’s offering all new customers $1,000 at closing and waiving fees for existing customers.
US non-bank financial firms push Congress for SME lending relief
Legislators are currently working on a bill which addresses small business loans.
HSBC joins Alibaba to offer Hong Kong’s online merchants quick loans
This is the first time HSBC will use third-party data to approve trade finance loans.
Credit scores and the willingness to repay in the age of Covid-19
Psychometric credit solutions will likely become increasingly valuable for loan decisioning.
FCA sets out guidance for mortgage providers & lenders on COVID-19-related loan scheme
This supports the announcements made by the Chancellor last week.
MatchMove applies for one of Singapore’s full digital bank licences
The company has teamed up with three other bidders.
Citadele Bank invests €10m in SME Finance
The partnership will offer factoring and banking services.
Bank of England dips into US repo to lend banks $15bn
It’s the largest sum the central bank has issued since the financial crisis.
Iwoca launches lending platform to help banks and fintechs tap UK SMEs
The platform has already bagged Monese and Xero as a partners.
Student Loans Company hit by 5.5m email attacks in 2019
The public body blocked and quarantined all the listed attempts.
What the Fintech? A new podcast from FinTech Futures | Episode 1
Trending topics, useful insights, strong opinions, and a fintech jailhouse – all in our brand new podcast!
Travelex owner Finablr prepares for insolvency
Finablr processed $115 billion in transactions in 2019, and more than 1,500 firms rely on it.
Central banks free up US dollar liquidity amid coronavirus pandemic
The price on the US dollar liquidity swap arrangements will go down by 25 basis points.
Global fintech funding: 2018 still stands as the reigning year
As of February 2020, year-over-year deal counts were down by 22%.
Funding Circle plans to cut 125 jobs in Berlin and Amsterdam
P2P firm reacts to poor year in external markets by cutting back.
Standard Chartered launches Banking as a Service solution in Indonesia
The white-label service was incubated at SC Ventures.
Inclusion, innovation, and mobile money in Sub-Saharan Africa
“If our systems fail, a big part of the economy would fail,” says exec.
Credit Sesame launches new digital bank account Sesame Cash
A banking offering will engage customers beyond just improving credit.
FCA plans market changes to simplify mortgage switching
UK watchdog concerned that non-switching consumers are left out of pocket.
UK banks prop up SMEs with £7bn amid coronavirus outbreak
The banks are also deferring customers’ payments on loans and mortgages for up to three months.
Metro Bank partners with ezbob to launch SME lending platform
The bank claims businesses will receive loans in minutes.
OakNorth Bank’s profits nearly double in 2019 but growth slows
The SoftBank-backed lender did see a slow down in its total loan facilities.
Leap Finance raises $5.5m to help finance Indian students abroad
Start-up wants to change the way students are given credit.
Banking Technology March 2020 issue out now
Keep calm and carry on: Where does COVID-19 leave the Chinese fintech market?
“If you want it, go get it!”
Nancy Butler at B-North, shares her experience in banking this international women’s day.
Can fintech eliminate credit discrimination?
Even the strictest laws can’t eliminate the inherent impression the credit manager forms.
Ikano Bank builds on Nets partnership to power new lending platform
Ikano plans to launch products on the new service later this year.
Mambu to power Australian credit firm Nimble
Nimble is switching up on its tech to power digital bank aims.
China’s Ant Financial buys small stake in Swedish unicorn Klarna
Klarna is already embedded into Alibaba’s AliExpress.
Nationwide picks AutoRek for reconciliation and data management
AutoRek to help Nationwide “face into the future.”
India’s lending start-up SMEcorner bags $30m Series B
The round was led by a $10.5 million investment from Germany’s Paragon Partners.
Opportunities for the long term
Bridging lenders have clearly grown in confidence about the outlook for the UK economy.
Nationwide leads race for £1.9bn Sainsbury’s Bank deal
An agreement had yet to be finalised but a transaction could be struck in the coming weeks.
Eileen Serra joins Capital One board of directors
She will stand for election by Capital One shareholders in April 2020.
