The shifting ground of payments: are banks and SMEs aligned?
It’s safe to assume that in time, every business and consumer will expect immediate settlement as a norm.
SME
UK fintech trio found Cape to tap Australia’s SME credit card market
Australians’ credit card debts fell to a 15-year low in July.
US payments firm Melio raises $80m in Series C funding round
Melio plans to use its new funding to expand and reach more customers.
UK fintech Funding Xchange lands $10m in Series A funding round
The fitnech last raised funds in November 2019.
FinovateFall 2020: Dealing with a new digital normal
FinTech Futures speaks to Tracy Schlabach, Accusoft senior manager for product and customer marketing.
Metro Bank unveils new “15 minute onboarding” for SMEs
The bank’s new online journey auto-populates business data.
Form3, Countingup and PPS create new SME offering
The SME market contributes around £2 trillion a year to the UK economy.
Mauritius Commercial Bank launches SME app powered by Backbase
Juicepro has seen 1,000 registered users in a month.
Xero to acquire Aussie invoice lending platform Waddle for $57m
Xero’s shares hit more than AUD 100 on 25 August.
US unicorn AvidXchange launches secondary offering
AvidXchange says it’s had a three-year growth rate of 133%.
2020 PayTech Awards hosted online by Zoe Lyons
Join our celebrity host Zoe Lyons for PayTech Awards 2020! Free broadcast on 10 September – everyone is welcome.
Mastercard partners with AlRaedah Finance on Saudi SME payments
The “SME in a Box” will offer SMEs direct access to fast funds.
British Business Bank extends CBILS deadline
Firms have two months to consider the cases, making the final approval on 30 November.
American Express acquires SoftBank-backed Kabbage
Reports earlier this month put the value of the acquisition at up to $850 million.
Holvi becomes next UK casualty, exits just six months after launch
The Finnish start-up says its departure is down to both COVID-19 and Brexit.
Metro Bank goes live on Sensibill after successful pilot
The launch is part of a wider technology drive on the bank’s mobile app.
Streamlining manual processes amid COVID-19
Find out how to digitise manual documentation processes with Foxit Software.
Agora Services debuts teen and SMB banking solutions
The new white label system aims to help bank serve teen and SMB customers.
Currencycloud signs up Starling Bank for new multi-currency account
TranSwap, and Remitr have also signed up for its new multi-currency wallet.
Fintech funding rebounds in Q2 but deal numbers continue to fall
VC-backed fintech deals dived from 452 in Q1 to 397 in Q2.
HSBC and Microsoft partner to support Hong Kong SMEs
The two firms have signed a year-long partnership.
AMTD Group teams with SME partners ahead of Singa Bank’s launch
AMTD is yet to land a licence to launch the bank.
Catering to China’s small-time exporters
Bill Deng, CEO of XTransfer, unpacks how banks have snubbed a large number of long-tail customers.
Deutsche Bank buys minority stake in Traxpay
Deutsche wants more European banks to invest in the platform.
Revolut loses banking veteran CEO after one year to upstart Allica Bank
Davies says his departure is on good terms.
Applications for FCA’s sixth regulatory sandbox drop more than 30%
Last year, the sandbox recieved a record 99 applications.
Webinar: Empowering your SME customers for the new digital normal with APIs and microservices
Real-life examples from Tide and THIS of how APIs and microservices have fuelled business transformation.
Study finds discrimination against Black small business loan applicants
Of the groups studied, Black women received worse treatment in 59% of cases.
How fintech is transforming financial management capabilities for small businesses
Most business-facing fintech tools have adopted usability conventions from consumer-facing apps.
Banks must deploy AI with urgency to save SMEs
Projects that would normally take months need to be delivered in days.
B-North boosts risk assessment with Wiserfunding deal
SME challenger picks Wiserfunding to support its risk grading.
HSBC glitch sends coronavirus bounce back loans in error
UK bank has processed £4.5bn in loans so far in 2020.
Starling Bank launches two new paid business accounts
The roll-out includes its second multi-currency account.
Mobile money gateway MFS Africa acquires Beyonic for SME play
The value of the acquisition has not been disclosed.
Ingressive doubles African tech start-up fund to $10m
Ingressive averages $200,000 to $400,000 in individual investments.
OBIE UK’s open banking body launches app store
The launch date was moved up because “open banking can make life easier in lockdown”.
Memo Bank launches business offering and lands €20m
The funding round was led by Paris-based BlackFin Capital Partners.
Zopa lands UK bank licence, set to launch credit card and saving account
The company announced its plans to become a bank nearly four years ago.
Santander’s Asto offers loans to SMEs on Funding Options
The bank joins a roster of more than 200 lenders.
UK challenger Picnic Bank to address ‘fintech for good’
The start-up is looking to raise £5.5 million.
