Arguments, exchanges and something getting launched. It’s our blockchain and Bitcoin round-up. Features JP Morgan Chase, the Financial Services Agency of Japan and Wish Finance. There will be blood. Sort of. JP Morgan Chase CEO Jamie Dimon got plenty of attention with his scepticism and criticism of Bitcoin – calling it a “fraud”. Using the […]
Corporates and SMEs in Singapore and Hong Kong can now track their cross-border payments via DBS, using Swift’s global payments innovation (gpi). DBS says it is the first bank in the two countries to execute cross-border payments with end-to-end tracking, “helping corporates and SMEs become more efficient in their cash management”. In the past, DBS […]
We have a double delight as Sage and Lloyds, and Xero and Santander are making accounting simpler for UK SMEs. Sage, a cloud accounting, payroll and payments solutions software provider, says Lloyds Bank is the latest in a line of banks to go live with its Bank Feeds service. The service helps businesses by enabling […]
Mobile point-of-sale pioneer Square Inc. is applying for an Industrial Loan Company (ILC) charter to support the expansion of its lending business, the volume of which grew 68 percent year-over-year in Q2 to $318 million.
Lloyds Bank has launched a new service to help businesses manage their bookkeeping without manual intervention. Called Lloyds Bank Direct Bank Feed it allows clients to receive their statement information directly into their accounting software – “eliminating the need for businesses to manually input their bank statements and reduce the time spent reconciling accounts”. Steve […]
Berlin-based cybersecurity start-up Perseus is seeking to become a legend for the country’s SME market with a “one-stop solution”. According to fintech incubator FinLeap, which is behind the venture, more than 70% of German companies were affected by cybercrime activities within the last two years, but only one out of ten SMEs holds an insurance […]
EXCLUSIVE: Redwood Bank, a new SME-focused bank in the UK, has opted for a cloud-based banking platform. The front-to-back office solution is supplied by a local fintech firm, DPR Consulting, Banking Technology understands. It is hosted in a private cloud.
Meet our No. 1 on the Top 5 Best Challenger Banks list and find out why CEO Rich Wagner says the company belongs there.
Redwood Bank, a new UK-based SME challenger, has launched four months after securing its banking licence. The bank is now offering secured SME mortgages for business owners, as well as for “experienced” commercial and residential property investors. It has also launched a business deposit account. As reported in April, Redwood entered its mobilisation phase and […]
Mobile POS pioneer Square is venturing into new territory with its own brick-and-mortar store in Manhattan.
Get to know the SME lending specialist that’s challenging U.K. high street banks by providing zero percent interest when balances are paid in full within 37 days.
Utah-based FinWise Bank, a subsidiary of All West Bancorp, has partnered with alternative small business lender Behalf.
For anyone who spends hours completing their expense reports, the news that receipt and business card digitisation company Shoeboxed is ushering a travel and expense reporting system out of beta is welcome news.
Peer-to-peer (P2P) lender Prosper released its second quarter earnings recently, just days after the company shuttered its consumer-facing bill management system.
After a spate of recent partnership announcements to expand its acceptance network and P2P reach, PayPal is buying Swift Financial to boost its small business lending division.
Prepaid is having a renaissance thanks to real-time mobile and web account access that’s enabling a number of disruptors to offer prepaid solutions for a new set of customers.
Online small business lender Kabbage has raised $250 million in funding from Japan’s SoftBank Group. The capital, which takes Kabbage’s total funding to more than $488 million, will be used to support new lending products for small businesses, as well as “exploring non-lending products and services” for its customers, the company says.
Bank Islam Malaysia Berhad is working with consulting firm Cognizant to lay the foundation for its digital banking platform roll-out across its entire network. Encik Khairul Kamarudin, CEO of Bank Islam, says the move will bring “greater accessibility to our customers as well as simplifying and improving their banking experience with us”. According to the […]
With the launch of its Tap2App merchant payment solution and pilot programme, xPressTap is enabling micro-retailers and small business owners to use their smartphones to accept card payments without a dongle or a portable card reader, reports Paybefore, Banking Technology’s sister publication. The California-based start-up says its patented technology turns any NFC-enabled smartphone or tablet […]
With the Aug. 1 launch of its Tap2App merchant payment solution and pilot program, xPressTap Inc. is enabling micro-retailers and small business owners to use their smartphones to accept card payments without a dongle or a portable card reader.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Payably, which offers a platform that integrates mobile payments with QuickBooks Online data in real time, is working with CardConnect to “simplify and speed up” mobile payments for merchants, including initial onboarding and processing and receiving payments, reports Paybefore, Banking Technology‘s sister publication. The strategic partnership also gives Payably the ability to offer “competitive” card […]
In another step to expand its global footprint and promote financial inclusion, Ant Financial Services Group on July 24 announced it’s entering into an equity joint venture with CIMB Group Holdings Berhad subsidiary Touch ‘n Go Sdn Bhd (TNG). The JV will introduce a “world-class mobile platform for payments and other financial services,” the companies said.
Payably, which offers a platform that integrates mobile payments with QuickBooks Online data in real time, is working with CardConnect to “simplify and speed up” mobile payments for merchants, including initial onboarding and processing and receiving payments.
Whether you call it dinero or dough, the fintech funding does flow! This latest round-up features Revolut, Constellation Digital Partners, Paytm, Mobiquest Mobile Technologies and Wesleyan Bank. Following on from the $66 million raised in a Series B round, UK-based payments start-up Revolut is looking for an additional £4 million in exchange for shares in […]
Photopay, the payment receipt scanning solution from Microblink, is now available in more countries including France, Norway, Spain and Sweden, reports Finovate (Banking Technology’s sister company). The news is the latest step in Microblink’s European expansion – begun four years ago – and brings the company’s data extraction technology to an even wider range of SME customers. […]
India’s SME-focused digital challenger bank Open is getting ready for its mid-August launch with a round of seed funding. Open calls itself “Asia’s first SME neo-banking start-up” and is using the same business model as Tide in the UK and Finnish start-up Holvi (recently acquired by BBVA). With its launch date in sight, the bank […]
Data Pitch has unleashed its new accelerator in the search for start-ups and SMEs across Europe with fresh ideas for data products and services. The plan is to connect data providers “with nagging business problems” to firms with the right solutions. It’s not limited to fintech, but successful applicants will receive up to €100,000 equity […]
It’s a treble yell! Following quickly on from 18 July and 19 July, this latest fintech funding round-up features Receipt Bank, Billon Group and TickSmith. Receipt Bank, a bookkeeping automation platform (not an actual bank), has raised $50 million in Series B funding from Insight Venture Partners. The investment will be used to accelerate growth […]
UK-based innovation foundation Nesta has revealed the 20 fintech firms who will participate in its Open Up Challenge as it looks for services, apps and tools for SMEs – with a £5 million prize fund on offer. As reported in March, Nesta launched its challenge – open to entries from anywhere in the world that […]
Italy’s only stock exchange Borsa Italiana, part of London Stock Exchange Group, and IBM are building a blockchain solution to digitise the issuance of securities for unlisted small and medium enterprises (SMEs) in Europe. The aim is to simplify the tracking and management of shareholding information, and create a distributed shared registry containing a record […]
SME lender iwoca and Italy’s Intesa Sanpaolo are partnering to provide Intesa’s SME clients with credit products. The partnership coincides with an investment in iwoca by Neva Finventures, Intesa Sanpaolo’s fintech venture capital arm. Maurizio Montagnese, chief innovation officer at Intesa Sanpaolo, adds that the “industrial synergies” between the firms “could be significant in the […]
Swedish financial technology company iZettle is reporting a 60 percent jump in revenues compared with 2016, and CEO Jacob de Geer is talking IPO.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
A group of seven large European banks, Digital Trade Chain Consortium, have turned to IBM to build and host a new trade finance platform, based on IBM Blockchain powered by Hyperledger Fabric.
Job-cutting spree continues at the Royal Bank of Scotland (RBS) – 443 jobs are to go from its business loans department. Many of these will be moved to India.
Curve and its all-cards-in-one Curve Mastercard and accompanying banking app apparently has struck a chord with small businesses and freelancers. More than 50,000 SMEs have signed up for the London-based startup’s program, which recorded £50 million (US$63.3 million) in user spending since the beta period began last year.
Long-term growth will require the commercial banking industry to embrace digital transformation in a way that benefits the institutions’ stakeholder base and satisfies the needs of its end-user clients. And here are three reasons why a commercial bank should consider transformation.
HSBC has launched a £10 billion lending fund for SMEs in the UK as it looks to tap into this lively market. The bank says it continues to be open to lending, having approved 91% of small business lending applications in the last year. Ian Stuart, UK CEO, HSBC, says: “We want to put SMEs […]
German payments company AEVI and Australian software firm Moroku have teamed up to offer POS software in AEVI’s B2B app store. Called Marrakash, Moroku’s software is for small retail and hospitality merchants that integrates their business, products, customers and payment systems into one platform. Moroku says it lets firms run their business “entirely from a […]
