Video: Top fintech stories this week – 14 August 2020
FinTech Futures’ weekly news round-up.
Regulation
Robinhood kicks off hiring spree in Texas and Arizona
Trading app says it plans to hire hundreds of new support staff.
Regtech firm kompany raises $6m in venture funding
The firm plans to use its new cash to develop KYC solutions.
Streamlining manual processes amid COVID-19
Find out how to digitise manual documentation processes with Foxit Software.
Containers and PCI DSS: 10 requirements financial services must follow
These requirements can present a challenge to financial services now leveraging containers.
Capital One fined $80m for 2019 data breach
US firm pays the price for hack that exposed data of 106m customers.
FCA posts concerns over repeat lending by credit firms
UK watchdog highlights issue with letting users borrow again and again.
CMA blocks FNZ-GBST merger over competition concerns
UK regulator worried merger may prevent new entrants scaling up in the UK.
Greek fintech Viva Wallet officially becomes a bank
The Attica-based start-up acquired Praxia Bank’s banking licence on 3 August.
EPA critiques FCA approach to Wirecard suspension
The EPA says the FCA should have reached out to it.
Chinese regulators consider AliPay and WeChat antitrust probe
The People’s Bank of China is serious about curbing the giants’ dominance.
Finndon commits £2m investment towards FCA authorisation
The challenger aims to launch in the first quarter of 2021.
Varo receives US national bank charter
Varo Bank will serve as the firm’s new banking arm, with Varo Money becoming its holding company.
Bank of England picks Accenture as RTGS renewal partner
Accenture comes out on top of a public procurement process.
Video: Top fintech stories this week – 31 July 2020
FinTech Futures’ weekly news round-up.
Smart guide: How voice technology can protect your bank
To remain compliant and mitigate risk, voice tech should represent a core component of financial institutions’ regtech stack.
Bank of Ireland fined €1.66m for regulatory breaches
The bank failed to report a security breach back in 2014.
BaFin gets “sovereign powers” after Wirecard scandal
The plan will also strengthen APAS, the body that oversees auditing firms in Germany.
EC prepares changes to MiFID II research unbundling rules
EU body aims to boost economies by relaxing MiFID II rules.
Phoenix Life aims to meet IFRS 17 with Oracle tech
Phoenix Life is an existing user of several Oracle systems.
Talk like an Egyptian: a brief history of data encryption
Can today’s PKI encryption techniques fill the promise of inherently secure data?
Applications for FCA’s sixth regulatory sandbox drop more than 30%
Last year, the sandbox recieved a record 99 applications.
A2A payments set to threaten dominance of online card transactions
A2A payments could be an unintended beneficiary of SCA.
Video: Top fintech stories this week – 24 July 2020
FinTech Futures’ weekly news round-up.
US national banks granted authority to hold crypto for customers
US banks and federal savings associations can offer cryptocurrency custodial services.
CCAF, World Bank and World Economic Forum call on industry to take part in COVID-19 fintech study
Working in fintech? Take part in the survey and share your views!
Accuity partners with Encompass to automate client KYC
Encompass technology implemented into Accuity’s Bankers Almanac solution.
Money manager for freelancers Flow lands Dutch PSD2 licence
The idea for Flow originated on an alpaca farm in Drenthe.
Latvian regulator fines Signet Bank €906k for AML issues
FCMC fines Latvian private bank after on-site inspections.
FCA confirms post-Brexit cooperation deals with EU regulators
UK watchdog says agreements remain “relevant and appropriate”.
From open banking to open finance
It’s only in 2020 that we see the quality, reliability, and range of APIs connecting to accounts that realise the regulators’ vision.
Report: Shareholder Rights Directive (SHRD) – the impact on securities processing
Creating an attractive environment for shareholders of exchange-listed companies in the EU and improving their corporate governance.
Hummingbird raises $8.2m led by Flourish Ventures
Flourish Ventures led the round, with new support from Stripe alumni Lachy Groom and Jon Zieger.
COVID-19 analytics: the lesson for those involved in policy management
Modern data-enabled systems and processes are the key to staying competitive.
OCBC Bank connects to Singapore Government’s identity platform
SingPass enables users to connect to a wide range of platforms and government services.
The LIBOR transition: why financial organisations need to work smarter and not harder
This LIBOR solution replaces an army of paralegals with technology able to extract information from a 200-page document and over 140 various data points.
Currencycloud nabs e-money licence from Dutch central bank
The London-headquartered firm secures post-Brexit future.
Major Dutch banks launch AML joint venture
Rabobank, ING, ABN Amro, Triodos Bank, and de Volksbank make AML move.
SoFi files banking charter application with OCC
The $4.3 billion fintech wants to take another crack at banking.
Five ways it pays to go beyond ID-only verification
Identity verification serves many benefits to organisations seeking to build trust in their online channels.
