China’s fintech scene started late but trumps US, says Baidu’s fintech arm
Du Xiaoman Financial talks fintech and AI in China.
Lending
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.
Portify raises £7m to offer gig economy and freelancers access to credit
The UK start-up landed a partnership with Deliveroo earlier this year.
Three more UK payday lenders collapse before Christmas: MMP and PiggyBank
The collapses follow regulatory clamp downs on affordability checks and compliance.
JP Morgan embroiled in yet another racism scandal
The New York Times obtained two recordings highlighting racial discrimination in the bank.
The 20th Banking Technology Awards winners have been announced
It was a brilliant celebration of excellence and innovation in the banking industry.
Hungary’s central bank says major lenders could be “forced out” by fintechs
The bank mentions the pressures on revenues in a low yield environment.
Video: Top fintech stories this week – 06 December 2019
FinTech Future’s weekly news round-up.
Mexican lendtech start-up Konfio bags $100m investment led by SoftBank
This is the Latin American start-up’s fourth financing round.
Fintech API platform Rapyd raises $20m and hits $1.2bn valuation
The company is gearing up to make two acquisitions.
Singapore’s FinAccel raises $90m to make financing more accessible in Southeast Asia
FinAccel hits $500 million evaluation.
Mike Cagney’s Figure Technologies set to raise $103m in Series C
Figure is also edging into the student financing space.
Berlin’s Raisin partners with Credorax to offer its German users retail deposits
Raisin is the first – and currently the only – company to offer Credorax’s retail deposits.
Revenue-based financier Uncapped launches and secures £10m
The capital offering sits between debt and equity financing.
UK start-up Student Finance raises €1.15m to tackle university loans
The firm will cover fees and get a future share of students’ future incomes.
Turkish banks and FIs sign majority stake in JCR Eurasia
Turkey seems to be establishing a national credit rating agency.
Video: Top fintech stories this week – 29 November 2019
FinTech Future’s weekly news round-up.
French fintech Virgil raises €2.1m to co-own homes with first-time buyers
The start-up offers future buyers a capital contribution – not a loan.
Co-operative Bank launches personalised loan marketplace with Freedom Finance
Successful applicants “could receive funds the same day”.
Argentine money manager Ualá raises $150m in round led by SoftBank and Tencent
Bloomberg says Ualá is close to a $1 billion valuation.
UK challenger OakNorth’s partnerships chief leaves bank
Amir Nooriala has left the bank after just six months in the role.
OP Financial chooses Nordic API Gateway for open banking
OP Financial is looking for partners focusing on CX, reliability and security.
Small business lender BlueVine banks $102.5m in Series F funding
The fintech now has $692 million in total funding.
Machine learning vs human experience in invoice finance
Be wary of a lender with no human face as there’s always the odd unforeseen complication.
UK mobile-enabled credit card Tymit raises £4m
Users can bundle abroad purchases into one big repayment.
Village Capital and MetLife Foundation selects 11 start-ups for MENA accelerator programme
Finalists from this cohort will receive grant capital totalling $50,000.
Decisioning platform Funding Xchange raises £8m
Former dairy farmer Katrin Herrling set up the company after the financial crisis.
Video: Top fintech stories this week – 15 November 2019
FinTech Future’s weekly news round-up.
Former FCA exec says banking tech could lead to discrimination
Diverse hiring practices would help address discrimination by financial technologies.
BFS Capital swings in new ex-axe throwing exec
The new COO comes from an international axe throwing event company.
Lendtech firm Snapdocs raises $25m in Series B funding
Snapdocs claims to power 10% of US mortgage transactions.
Money20/20 USA: Seven key takeaways and how to prepare your business
Informa’s Rutger van Faassen shares his impressions and insights from Money20/20 USA.
Fintech Talents 2019: Banks must grab digital opportunity
Industry panel argues that change is coming for all lenders.
Banco Inter plans super app to boost borrowing
SoftBank bought a 14.9% stake in Banco Inter earlier this year.
AI: A force for good?
The last of the two part series by Nadia Sood, CEO at CreditEnable.
Cowries Microfinance Bank goes live on Craft Silicon solution
Nigerian bank moves forward with new core system.
Great Plains National Bank signs on Teslar Software
Oklahoma-based bank aims to revamp manual processes.
Video: Top fintech stories this week – 01 November 2019
FinTech Future’s weekly news round-up.
Trade Ledger nabs £1.5m in Hambro Perks funding round
Lending platform plans to build out its services with cash injection.
Credit score fintech TotallyMoney raises £5m investment from SVB
TotallyMoney now has 2.5 million customers.
