Singapore remittance start-up InstaReM rebrands to Nium
Nium CEO envisions a world where everyone’s money is free for them to use.
Mobile
Bank of America unveils new mobile banking app with loan applications built in
The bank has 29 million mobile clients.
Nordea writes off millions in IT impairment charges
The bank has racked up a €1.3 billion bill for one-off items.
Spanish fintech PecunPay chooses IBM to implement Red Hat platform
The start-up is trying to keep up with ever-changing mobile apps.
OneSpan director: Banks need to implement AI’s full potential
Banks still have siloed data pools which can’t quite be pulled.
570easi launches French Islamic banking challenger SOeasi
570easi now holds a customer base of more than 90,000.
US challenger Current raises $20m in Series B, surpasses half a million customers
The neobank began as a parent-controlled teen debit card in 2017.
How to provide customers from China with a habitual and convenient service
An official account is the first step for a company towards the Chinese audience.
Video: Top fintech stories this week – 25 October 2019
FinTech Future’s weekly news round-up.
Irish credit unions finally take on banks with new current account offering
The country has long-awaited the sea change.
Revolut launches in Singapore
Country will be Revolut’s first Asian market and second outside Europe
The birth of life stage banking
Finally customers will get help in managing their lifestyle or life stages.
Natwest, Nationwide and RBS pull banking apps from Google Play for Samsung S10 users
The S10’s fingerprint feature glitch means it can be unlocked by anyone.
Western Union expands into Asia with Kyodia and Hanpass partnership
The collaborations are live with payout functionality.
Click to Pay e-commerce solution launched by Amex, Mastercard, Visa
Card schemes aim to reduce online payments friction in US.
Crunch launches mobile accounting platform for UK’s self-employed
The cost £5.5 million and four years in development.
Instabase raises $105m sent to unicorn status
The bank app has raised $132 million since it began in 2015.
Meeting the global B2B payments challenge
International businesses increasingly expect global access to finance in real-time.
Mastercard and Visa battle over Revolut deals
Revolut says 75% of its non-European cards will eventually be Visa branded.
Contactless charity donations start-up GoodBox raises £1m
The funding is part of a combined Series A £2.3 million.
White paper: Digital transformation in credit for commercial and corporate lending
The question by now is no longer whether to transform, but rather how to transform.
Islamic challenger bank insha launches in Germany
New entrant wants to place the daily life of a Muslim at the centre of its offering.
US challenger bank Denizen shuts down
The expatriate bank failed to reach required scale.
Dutch challenger bank bunq reveals Brexit delayed its ‘wish list’ UK launch
The UK was the first country on bunq’s launch “wish list”.
PayPal subsidiary Venmo launches first credit card with Synchrony Bank
Venmo will now be able to compete with N26 and Chime in the US market
Wealthtech Genuine Impact plans new app launch with fresh design
It launched its first app back in February 2019.
US challenger Chime goes down for millions of customers
Chime serves more than five million accounts across the US.
Finovate Podcast: Epsiodes 1-10
Catch up on the latest Finovate Podacast espisodes.
Educating the masses
The age for financial literacy is getting younger and younger.
India’s fintech Paytm in talks with T Rowe Price for $1 billion funding round
Existing investors SoftBank and Ant Financial are also expected to participate.
Brazilian fintech Nubank’s user base soars to 15 million
The fintech has reached decacorn status with a $10 billion valuation.
OTP Bank welcomes “later-stage” start-ups to its partnership programme
Applications need to be made by 22 November 2019.
Intesa Sanpaolo invests €7m into vending machine digital wallet MatiPay
The fintech will expand its operations in Europe, Japan and the US.
HSBC takes on digital challengers with First Direct overhaul
The telephone-based brand is looking at AI and in-app technology.
Finnish invoicer Enterpay raises €1m and partners with German bank
The fintech partners with Volksbanken Raiffeisenbanken.
Branch launches free checking account and debit card for hourly workers
The fintech wants to increase financial stability in the US.
Pakistan’s JS Bank first in country to launch ‘chat banking’ on WhatsApp
The service is free to use with no registration process.
Amex admits to data breach from employee trying to commit fraud
Card numbers and social security numbers were compromised.
Nordic banks reveal business plan for single payments platform P27
The banks predict P27 will start generating revenue in 2021.
DPR and ClearBank complete partnership, savings meet APIs
DPR’s core banking technology will serve Clear Bank’s savings customers.
