Start-up


British Business Bank pledges £400m to UK fintechs and other businesses

The UK Chancellor Philip Hammond has announced a plan to invest £400 million of venture capital funds into the British Business Bank, a government vehicle to lend money to British businesses. The idea is to support the home-grown business sector – including fintech firms – and to prevent them from being snapped up by international companies.

Infographics: the fintech landscape

It’s infographics time! A great compilation of fintech companies, showing how we’ve gone from graph paper to personal data algorithms – and everything in between.

Start-ups assemble for Startupbootcamp FinTech London demo day

Startupbootcamp FinTech London will host its Demo Day on 1 December for the third year with ten firms lined up for action. The ten companies taking the stage will showcase their fintech, ranging from SME banking, regtech, chatbots, artificial intelligence (AI) and blockchain. Francisco Lorca, MD of Startupbootcamp FinTech London, says the variety of the […]

Klarna gets sweet on Cookies payments start-up

German start-up Cookies crumbled, but Swedish payments provider Klarna has rumbled into action to take on its tech assets and employees. As Banking Technology reported this month, Cookies ended its short life as a peer-to-peer (P2P) payment app and applied for insolvency. At that time, Cookies co-founder Lamine Cheloufi said the other co-founder, Garry Krugljakow, […]

European Commission launches fintech task force

The European Commission (EC) has set up a fintech task force as it looks to boost innovation in the region. Called the Financial Technology Task Force (FTTF), it brings together services responsible for financial regulation and for the “digital single market”, along with others dealing with competition and consumer protection policy. FTTF will be co-chaired […]

F10 accelerator programme calls for fintech start-ups

F10, a Swiss incubator and accelerator, is offering two six-month programmes for up to 20 start-ups to turn their prototypes into sellable products. Participation for the selected start-ups is free. After opening its “prototype to product” (P2) programme’s winter session on 7 November, F10 now wants applications for its next round in 2017. Markus Graf, […]

Stellar offers sponsorship for fintech start-ups

Stellar Development Foundation is offering sponsorships for fintech start-ups, and those who educate developers or represent an NGO. Sponsorship is available in the forms of “lumens” – Stellar’s unit of digital currency, similar to a Bitcoin. The firm says its goal is to support new products and ideas, and for those enabling that goal via […]

Copenhagen Fintech opens doors

Copenhagen Fintech, a collaborative venture between the Danish Bankers Association, Financial Services Union Denmark, and the City of Copenhagen, has officially opened for business.

Fintech start-ups in Europe to get up to €1.6bn in funding from EIF

The European Commission (EC) has pledged up to €400 million to the European Investment Fund’s (EIF) new fund-of-funds – for the money to be spent on start-ups in Europe, including in the fintech space. The EC will also look for three times more investment from institutional investors to make up to €1.6 billion available.

Mobile-only bank Pepper gears up for launch in Israel

Israel’s Bank Leumi is gearing up for the launch of its new digital banking subsidiary, Pepper. It is expected to open its virtual doors for business before the end of 2016. The tech is provided by Temenos.

New fintech firm, Soldo, comes to UK and Italy

Soldo, a London-based fintech start-up, is launching its flagship multi-user spending account. Soldo is not a bank, but a prepaid MasterCard. It holds an e-money licence from the UK’s regulator, FCA.

Fintech funding round-up: 4 November 2016

Let’s put the fun in funding by keeping it mercifully brief. A round-up of some key events. KEEN Venture Partners, a new venture capital firm operating from London and Amsterdam, has announced €90 million first close of its inaugural fund. It will use the money to provide early growth capital for tech firms with a […]

Tandem Bank calls for first customers

Digital banking start-up Tandem has started inviting its community of 10,000 “co-founders” to be its first customers. Tandem was formed in 2014 and is accessible online, via an app and through a UK call centre. It got its banking licence in November 2015 and says its focus is on helping people manage their money rather […]

Payments start-up Cookies crumbles

Berlin-based payments start-up Cookies has ended its short life and applied for insolvency. As Banking Technology reported in August, Cookies launched its peer-to-peer (P2P) payment app in Germany. The app was in beta phase and in invite-only mode. However, in a statement, Cookies co-founder Lamine Cheloufi says the other co-founder, Garry Krugljakow, has been dismissed. […]

UK challenger bank FGTB bites the dust

First Global Trust Bank (FGTB) had its licence cancelled by the UK regulators, Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA).

UK challenger Pockit reaches 100,000 customer mark

UK challenger “neo-bank” Pockit says it now has 100,000 customers, “nearly twice as many” as three of its rivals – Monzo, Atom and Tandem – “combined”. On its website, Pockit says it is a “prepaid MasterCard, not a bank”, so the term “neo-bank” may be worth scrapping or explaining. It’s been around for a while, […]

10x Future Technologies to build digital core banking platform for Virgin Money

10x Future Technologies, the start-up founded by former Barclays CEO Antony Jenkins, is building a digital core banking platform for Virgin Money. It will be delivered in a cloud and will enable Virgin Money to unify its data platforms into a single infrastructure via 10x’s APIs, the vendor says. This new deal follows on from […]

Deutsche Bank opens data store to developers

Deutsche Bank is opening its data store to software developers from Germany and abroad as it looks for more digital solutions for its bank clients. Its site, developer.db.com, will from tomorrow (1 November) provide access to the bank’s proprietary development environment, allowing programmers to test their ideas for “digital services of the future”. The bank […]

Ex-Barclays CEO back with new firm and digital banking platform

Antony Jenkins, former CEO of Barclays, is back with a new company called 10x Future Technologies and launched a new core digital banking platform. As Banking Technology reported in June, Jenkins, who was sacked by Barclays in summer 2015 for failing to transform the bank quickly enough, set up 10X Future Technologies. At that time, […]

Top fintech stories this week – 28 October 2016

Catch up on Banking Technology’s top five fintech stories of the week – all in one place! HSBC Private Bank live with Avaloq Banking Suite EXCLUSIVE. It’s on in Switzerland and Luxembourg. European Association for Biometrics conference Eyes down for our event review. New challenger bank to launch in UK Hampshire Community Bank wants a […]

Impak Finance to launch Canada’s first ethical bank

Toronto-based Impak Finance plans to launch as Canada’s first ethical bank. This month, its team went crowdfunding with Canadian investor platform FrontFundr to fund the creation of the bank. It raised more than $1 million within two weeks, not including private investment. Co-founder Paul Allard, with ten other bankers, entrepreneurs and financiers in Montreal, Toronto, […]

Digital-only MemoryBank launches in US

US-based MemoryBank, a national branchless banking platform, has opened its “digital doors”. Founded this month, it is digital only and targets “generation-X customers” – born between 1965 and 1982 – described as “an often-ignored group, pushed aside by millennials”. The bank is a subsidiary of Kentucky-based Republic Bank & Trust Company. For its tech, Republic […]

Payments start-up nanopay gets $10m funding boost

Toronto-based payments start-up nanopay has completed its $10 million Series A funding round. With this financing and the MintChip platform, which nanopay recently acquired from The Royal Canadian Mint, it is developing new business partnerships to “expand the global utility and acceptance” of MintChip. Laurence Cooke, CEO and founder of nanopay, says its focus is […]

Mahindra Finance launches SME fintech challenge

Mahindra Finance has launched a global SME challenge with KPMG and fintech matchmaking service Matchi. Companies are invited to respond with a solution that fits any of the SME-focused categories listed below. Balaji Rangachari, head of SME finance at Mahindra Finance, says the challenge is a “step towards finding existing solutions which we can adapt […]

Dassault Systemes unveils seven finalists for KYC/AML start-up challenge

French software firm Dassault Systemes has named the seven finalists for its “3D FinTech Challenge” 2016 to address anti-money laundering (AML) and Know Your Customer (KYC) issues. This is its fourth annual accelerator programme in collaboration with senior finance executives, regulators and “influencers”. As Banking Technology reported in August, Dassault Systemes invited start-ups to apply. […]

R3 blockchain code goes open source

R3 has made its blockchain platform’s code publicly available as it seeks to make it an industry standard. The Corda platform has been developed by R3’s consortium, which comprises more than 60 financial institutions around the world (the latest addition is Synchrony Financial – the first credit card company to join the consortium). “We want […]

Challenger BFC Bank readies for UK launch

BFC Bank, a subsidiary of the Bahrain Financing Company money transfer group, has received authorisation from the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) as it finalises its launch as a UK bank. For its technology, BFC will be using an outsourced “bank in a box” version of ERI’s Olympic core banking system. […]

US Bank finds geolocation innovation for anti-fraud

US Bank is offering a Visa-developed geolocation service, a new, opt-in technology integrated into the bank’s mobile apps that enable the location of a card transaction to be matched to the location of the user’s phone. By matching the location, US Bank says it can help ensure that transactions on customers’ cards are approved and […]

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