Metro Bank cuts two thirds of new branches and returns £50m to BCR
The bank is paying back £50m of its fund from BCR.
Lending
Europe’s joint largest fintech start-up Klarna reports its first annual loss
The operational loss is down to its US expansion and its set up of a Berlin-based tech hub.
BBVA joins $1.3m round for UK gig economy start-up Wollit
It’s one of the first to evolve out of BBVA’s ‘Venture Creation Partnership’ with Anthemis.
Goldman Sachs-backed salary lender Neyber in talks with administrators
Neyber secured £100 million from Goldman Sachs in 2017.
Video: Top fintech stories this week – 21 February 2020
FinTech Futures’ weekly news round-up.
Ally Financial to buy CardWorks for $2.65bn, shares fall 10%
The deal grows Ally’s user base to 11 million across 50 US states.
Moneybarn hit with £32.8m bill for not helping indebted customers
The firm did not treat customers fairly who had fallen into debt over a three year period.
Starling Bank lends through Zopa while it builds its own platform
The neobank currently holds £1.25 billion in deposits.
Video: Top fintech stories this week – 14 February 2020
FinTech Future’s weekly news round-up.
Saffron Building Society selects Burrow mortgage application tech
Saffron is the first user of the Burrow system due for launch later this year.
FinovateEurope: Danske Bank’s UK chief digital officer doesn’t like chatbots
“I don’t like them, and more importantly customers don’t like them.”
Nigerian fintech start-up Aella raises $10m
This debt financing round is Aella’s second raise.
OakNorth CIO: UK success means European banks take us seriously
OakNorth says it has £2.3 billion in the pipeline for 2020.
Digital bank Stori raises $10m in Series A2 funding
Mexican challenger bank has also launched its credit card.
Funda Finance Partners in lendtech revamp with nCino
US-based nCino has gained further presence in Australia via a new deal with Funda Finance Partners, an SME lender. New South Wales-based Funda will implement the vendor’s flagship cloud-based solution, nCino Bank Operating System, “to streamline its lending processes and enhance its customer experience”, nCino says. “Funda chose nCino after searching for a technology solution […]
Video: Top fintech stories this week – 03 February 2020
FinTech Future’s weekly news round-up.
Rewire CEO: We want to be the financial marketplace for migrants
Traditionally, migrants have struggled to find a one stop shop for their finances.
State Bank of India selects BEP Systems for UK mortgage origination
SBI due to go live on Apprivo2 system in Q2 2020.
Edison Financial reboots itself to launch Canadian digital mortgage start-up
Founder Hash Aboulhosn restarts company to found new venture.
Goldman Sachs to offer SME loans on Amazon lending platform
The product could go live as soon as March this year.
OakNorth to deploy lending platform for Dutch lender Oimio
Newly-launched firm aims to help SMEs with loans of €1-10 million.
How SalaryFits is connecting banks with the unbanked
FinTech Futures speaks to its CEO Délber Lage about its platform and future plans.
FCA calls UK’s current overdraft market “dysfunctional”
The regulator is asking banks to explain their 39.99% rates.
Nucleus Commercial Finance gains £25m funding line from Paragon Bank
SME lender plans to boost support for customers.
Viva Wallet buys Greece’s first digital challenger Praxia Bank
Praxia was on the verge of being dissolved last month.
Greensill pledges to help SME suppliers after ombudsman probes
The lender says it needs to “think about the way that [its] capital is being delivered”.
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.
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.
Mortgage broker Trussle raises £7.5m
Fresh funding brings total investment in Trussle to £26.5m.
HAB Bank implements Jack Henry’s commercial lending platform
New York-based community bank wants to boost its commercial ops.
Goldman cuts personal lending after launching Apple card
Its partnership with Apple has taken some of the momentum away from Marcus.
Australian fintech Wisr raises $33.5m for P2P lending marketplace
New and existing “high quality” institutional investors took part.
How UK start-up The Money Platform is transforming credit for millennials
EXCLUSIVE: The lendtech is rolling out its open banking offering.
NewDay acquires Deko to grow tech revenues
The acquisition comes months after the appointment of new CEO John Hourican.
China drafts rules to tackle risky half a trillion financial leasing sector
Only 2,985 of the 10,900 leasing firms in China are active businesses.
Nisir Microfinance taps ICSFS for new core system
ICFS Banks to be rolled out across five branches.
Think Business Loans set to launch new matching service iFunds V2
The credit broker says it will improve productivity for lenders by up to 75%.
Challenger bank for British farmers Oxbury set to launch later this year
The launch comes at a time of prolonged Brexit uncertainty for British farmers.
SME challenger bank B-North raises £2m funding
The bank’s first regional “Lending Pod” will open in Manchester in Q2 2020.
