Collaboration and the reinvention of banking and financial services
Banks and FIs should look to enable innovation through collaboration with the larger financial ecosystem.
Partnerships
Goldman Sachs gets green light for total ownership of Chinese venture
Goldman becomes the second US bank to buy out its Chinese mainland joint venture partner.
CBI: Collaborative open finance ecosystems for a market success story
80% of the Italian banking market (around 300 PSPs) has adopted CBI Globe to meet the requirements of the PSD2.
French fintech Swile lands $200m investment to drive Latin American expansion
Start-up also plans to release two new digital-led products.
Sibos 2021: Banks must work together to make the most of CBDCs, says panel
Panel says interoperability of CBDCs is necessary to avoid inefficiencies and poor outcomes.
Airbank picks Yapily to launch major bank API connections
Open banking infrastructure firm to help German cash management company connect users’ accounts.
BaaS platform Productfy raises $16m and forms card issuance partnership
Productfy provides companies with embeddable modules for payments, deposits, and card issuance.
Sibos 2021: BIAN releases upgraded digital core banking platform
The Coreless Bank platform is designed to help firms modernise their core banking infrastructure.
Sibos 2021: Major appliance manufacturer picks SmartStream for data reconciliation
Fisher & Paykel selects SmartStream Air to automate its currently manual reconciliation processes.
Santander spins out Getnet Brazil with plans to form “merchant acquiring franchise”
Move will see Getnet brand expand internationally under bank’s PagoNxt fintech arm.
Digital wallet OneFor partners Moorwand to launch European remittance service
The partnership will boost financial inclusion for the bloc’s diaspora communities.
Coastal Community Bank picks Finzly to modernise payments processes
Coastal Community Bank has more than $2 billion in assets under management.
ComplyAdvantage tapped by Hampshire Trust Bank for AML solution
RegTech’s AI-driven financial crime solutions will protect HTB at a time of rapid growth.
FNBM selects new core banking solution in Finastra’s Fusion Phoenix
Fusion Phoenix is key to the bank’s strategy to attract younger customers.
Bahrain’s Bank ABC taps Fenergo for client management solution
Bank ABC operates across the Middle East, North Africa, Europe, the Americas and Asia.
Taiwan’s CTBC Bank signs core banking deal with Avaloq
The bank will roll out the Avaloq Core solution across business units in Hong Kong and Singapore.
Bhutan central bank partners with Ripple to pilot CBDC
The CBDC pilot with the South Asian country is designed to boost financial inclusion.
Western Union taps Salt Edge for European digital bank pilot
Salt Edge’s software will ensure the firm’s upcoming digital banking pilot is PSD2 compliant.
Video: fintech news pick of the week – Goldman Sachs, Chase, Oracle & more
Our top pick of news from the world of finance and tech in bitesize video format, every week.
How Northern Ireland is helping to build a cyber-secure future
Northern Ireland has nurtured a small cluster of native businesses into a global centre of cybersecurity excellence.
Top Chilean lender BancoEstado picks Mambu for digital core revamp
Mambu hails choice from market “plagued by legacy systems”.
Monese moves into digital banking with Investec
The new partnership will see the international bank begin to offer digital banking services to UK customers.
CaixaBank extends IBM partnership to underpin new CloudNow service
Spanish banking giant ready to deploy new hybrid cloud platform.
DF Capital launches digital savings platform powered by Mambu and ieDigital
Specialist lender hopes to automate processes and improve customer accessibility.
Flutterwave partners with Currencycloud to boost global expansion plans
Flutterwave has integrated Currencycloud’s API to expand its payments network.
ICYMI funding round-up: TomoCredit, Lightyear, X-Margin, Coinfirm & more
More funding deals you may have missed during a busy week of news.
Corporate credit card start-up Cape partners with open banking provider Basiq
The tie-up will see Cape’s upcoming cards integrated with Basiq’s open banking technology.
SpotOn raises $300m in Series E round to fuel acquisition of Appetize
US payments firm acquires commerce platform as growth continues.
TransUnion acquires Neustar for $3.1bn to integrate identity solutions
Credit reporting firm aims to branch into fraud prevention.
CBI turns to Nexi and SIA for Italian payments architecture project
Cloud-based solution to expand digital transaction banking services.
First Horizon Bank partners Wipro to support VirtualBank cloud migration
Wipro says it worked with six other companies to streamline VirtualBank’s cloud migration.
Dutch digital bank Bunq partners with Paysafe to offer cash deposits
The two companies say the partnership will facilitate “quick and secure cash deposits”.
i-movo teams up with ClearBank and DWP to digitise UK’s benefits payments system
Claimants can now receive their payments in a number of different ways.
Julius Baer to revamp front-end services with Crealogix’s Digital Hub
Crealogix says its solution can help the bank offer “holistic solutions digitally”.
PayPal acquires Japanese BNPL unicorn Paidy in $2.7bn deal
PayPal sees the deal as a way to accelerate business in Japan.
Live Oak Bank switches retail and commercial accounts to Finxact core
North Carolina bank ticks off penultimate stage of ongoing transformation.
Visa partners Indian paytech to push offline payments
Innoviti says it is committed to building a cashless India, driving financial inclusion across the country.
Standard Chartered sets aside $107m for new digital bank in Singapore
UK-listed lender forms joint venture with Singapore’s National Trades Union Congress.
China Bohai Bank taps Bairong for AI-powered digital upgrade
China Bohai Bank will utilise Bairong’s fraud and loan monitoring systems.
Cartoon: Barnacles
This new cartoon illustrates a growing trend in the venture capital space.
