Start-up


Bangkok Bank and Nest unveil fintech start-up programme

Bangkok Bank has launched its fintech accelerator programme, Bangkok Bank InnoHub, in partnership with venture capital firm Nest. The 12-week programme will take place in the bank’s home market and will cater for eight early-stage companies. Nest has run similar programmes with corporates in Hong Kong, Singapore and Nairobi in Kenya. Bangkok Bank president Chartsiri […]

Starling Bank spreads its beta wings

UK challenger bank Starling has unveiled its mobile app and is welcoming the first customers through its digital doors to join a beta testing programme. As Banking Technology previously reported, the bank has been getting ready for this moment. Yesterday (15 March), it chose TransferWise to provide money transfer services to its customers. It will […]

BBVA launches fintech challenge for start-ups

BBVA has launched the ninth edition of its “Open Talent” fintech competition – and is looking for start-ups from across the globe. The Spanish bank says this year its programme has grown from one competition to five. It will be hosting three focused world-wide competitions, more than a dozen country-specific opportunities, two specialist challenges for […]

TransferWise to power Starling Bank payments

TransferWise will provide money transfer services to customers of UK challenger bank Starling when it launches later this month. As Banking Technology has previously reported, the bank is getting ready for its 2017 launch. It will host its first hackathon, opening up its API to outside developers. It has received its UK banking licence, joined […]

Analysis: banking innovation in the US

Banking Technology puts the banking innovation in the US under the spotlight. The market is not short of digital offerings: Simple, Moven, Kabbage, Acorns, Earny, Debitize, MagnifyMoney and more – take your pick!

Fintech funding round-up: 14 March 2017

Life needs less noise. So here words are destroyed. A round-up of key events in fintech funding. Featuring Autobooks, University of British Columbia, Scotiabank and more. Michigan-based start-up Autobooks has raised $5.5 million in funding. This follows an earlier $2 million seed funding round. Draper Triangle Ventures led the latest round and was joined by […]

DFSA proposes innovation testing licences

Dubai Financial Services Authority (DFSA) has issued a new consultation paper to find the ways to avoid creating a standalone regime to facilitate fintech companies. Instead, keeping in line with practices followed in the UK and Australia, DFSA will review innovative fintech business propositions and match them with applicable rules already prevailing in the region.

Fintech funding round-up: 10 March 2017

When time is tight, the reading can be light. A round-up of key events in fintech funding. Featuring Dimebox, NAB Ventures, Currencycloud and more.                          Amsterdam-based start-up Dimebox has raised €5 million in a series A round from payment processor Billpro Group. Dimebox says its modular, white label Software-as-a-Service (SaaS) solution includes risk management, artificial intelligence […]

Abu Dhabi, Singapore to Promote Fintech Innovation

The Monetary Authority of Singapore (MAS) and Abu Dhabi Global Market (ADGM) have signed an agreement to assist fintech entrepreneurs and support financial services innovation in Singapore and Abu Dhabi, according to Paybefore sister publication Banking Technology.

Seconds out for Monzo tech

Mobile-only challenger bank Monzo has been hit by tech issues for the second time this week. As Banking Technology reported on 6 March, payment outages caused major problems to cardholders and fintech services provides in the UK and internationally – and Monzo was one of the affected firms reporting issues with their payment processor. Today […]

China’s Chained Finance brings blockchain boost to SME funding

Chinese fintech firms Dianrong and FnConn have launched Chained Finance, the “first-ever” blockchain platform for supply chain finance. According to the pair, supply chain finance companies have been limited by existing technology and, to date, have only served about 15% of suppliers needing financial resources. They claim the vast majority of the 40 million SMEs […]

Symantec ventures into cybersecurity start-up space

Symantec has created a venture capital arm, Symantec Ventures, as it looks to work with cybersecurity start-ups. Its plan is to get start-ups to build on its Integrated Cyber Defence Platform and save them time. It will also talk to start-ups and academic communities through sponsorship of activities such as innovation challenges and hackathons. These […]

Former Infosys top exec launches lending start-up

A former Infosys senior exec and venture capitalist has unveiled his new India-based lending start-up, Billionloans. V Balakrishnan, formerly in charge of BPO, Finacle and India business units at Infosys, has founded the firm with Rangan Varadan. The latter is also CEO of Indian peer-to peer microcredit firm MicroGraam – and Balakrishnan is an independent […]

Banking Technology March 2017 issue out now

The latest edition of our flagship magazine – Banking Technology – is out now, packed with news, analysis and insights, case studies, research and expert commentary.

Atom Bank goes atomic with £113m funding plan

UK challenger bank Atom plans to raise almost £113 million in equity investment to support its ambitions for growth. As Banking Technology reported late last year, Atom opened for all customers in the UK. Its “invitation only” phase is over and people can download the Atom App, both in IoS and Android, and open an […]

Alibaba targets Amazon with $177m stake in Paytm e-commerce

India-based Paytm’s e-commerce unit has raised $200 million in a funding round led by Chinese titan Alibaba, with the latter potentially muscling in on Amazon’s arena of action. Alibaba’s Singapore unit will invest $177 million into Paytm E-Commerce, with $23 million coming from Indian venture and growth capital fund SAIF Partners. With the deal Alibaba […]

InvestCloud launches US innovation centre

California-based InvestCloud has opened its first fintech accelerator and incubator, the InvestCloud Innovation Centre, at its Pacific Design Centre headquarters in Los Angeles. The new 10,747-foot centre gives banks, wealth managers and other financial services firms “residences” to accelerate the development of new apps through access to InvestCloud’s full technology platform, in collaboration with a […]

US challenger Clear launches AI-powered bank

Clear, a New York City start-up, has launched the “first” artificial intelligence (AI) powered bank for start-ups. The Clear account is designed specifically for start-ups and small business owners to manage their finances through a single banking portal. Its platform lets users ask questions and receive answers without having to look at any spreadsheets or […]

Baloise to invest $50m in insurance and risk management tech start-ups

Switzerland-based insurance provider Baloise Group has forged an investment partnership with Anthemis Group, a digital financial services investment and advisory firm. Together, they will curate European and American tech start-ups developing insurance (insurtech) and risk management solutions, with a mandate is to invest CHF 50 million ($50 million).

First new clearing bank in 250 years enters UK market, ClearBank

As first reported by Banking Technology, there is a newcomer on the UK challenger bank scene, ClearBank. The bank has now gone on the record about its focus and strategy. ClearBank will be a bank for banks, FIs and fintechs, i.e. a clearing bank, offering customers access to UK payment systems and core banking technology to support current account capabilities.

Fintech funding round-up: 23 February 2017

Let’s put the fun in funding by keeping it mercifully brief. A round-up of key events. Featuring Tala, Nymbus and Monzo. US micro-loan start-up Tala (formerly InVenture), led by founder and CEO Shivani Siroya, has raised $30 million in Series B funding. The money will support its expansion plans in South Asia and Latin America. […]

UK’s Community Savings Bank Association selects TCS Bancs core banking system

New challenger Community Savings Bank Association (CSBA) has chosen TCS Financial Services’ Bancs core banking system on the cloud for its member banks across the UK. Last year, Banking Technology was the first publication to report on CSBA joining the British banking market. The association, which is registered as a co-operative society plans to set […]

Starling Bank launches open banking hackathon

UK challenger bank Starling is to host its first hackathon, opening up its API to outside developers. According to Starling, the hackathon makes it the first UK licenced bank to launch a public API in keeping with the ambitions of the Second Payment Services Directive (PSD2) and the open banking initiative. Megan Caywood, chief platform […]

Visa and Thomson Reuters go deep into India’s Fintech Valley Vizag

Fintech Valley Vizag, a project championed by the Government of the State of Andhra Pradesh in India, has signed a memorandum of understanding (MoU) with Visa and Thomson Reuters. Thomson Reuters will use the infrastructure provided by the government and local university resources to build fintech projects in the area. Visa is expected to support […]

US fintech slides, Asia and Europe rise says KPMG

Last year was a challenging one for fintech. The Brexit vote, the US presidential election, the slowdown of the Chinese economy, and fluctuations in exchange rates forced investors to tread cautiously, according to KPMG’s latest report “The Pulse of Fintech Q4 2016”. Despite a decline in overall fintech investments, 236 M&A transactions were recorded worth […]

Thomson Reuters unveils Singapore innovation lab

In the name of innovation Thomson Reuters has officially opened a lab in the Singapore nation. It’s called Thomson Reuters Labs – Singapore, and will do the usual stuff. Namely, collaborate with the government, customers, tech start-ups and universities to “build partnerships and create innovative products and solutions for professional markets” throughout the Asia Pacific […]

Russian banks and Mastercard launch fintech accelerator

Four Russian banks, Ak Bars, VTB 24, Bank Saint Petersburg and Home Credit Bank have teamed with Mastercard to launch the “first collaborative” acceleration programme for fintech in Russia. Strategic consultancy will be done by Accenture, and representatives of the Central Bank of Russia (aka the Bank of Russia), the Ministry of Communications, the Association […]

IAG to launch insurtech hub in Singapore

Insurance Australia Group (IAG) is looking to build an insurtech hub in Singapore. The new unit, Firemark Labs, will act as an incubator for IAG and help teamwork between start-ups and research and tech partners for new products and services across Australia, New Zealand and Asia. Julie Batch, chief customer officer, IAG, says “customer lifestyles […]

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