Monte dei Paschi ex-boss and former chairman sentenced to jail
The three former execs were ordered to pay damages claimed by some of the bank’s savers.
BankingTech
Cashfac: Fully automate your escrow accounts solution
Driving customer satisfaction through your escrow accounts solution.
HSBC to cut up to 300 jobs in UK commercial banking unit
The cuts are part of a wider restructuring announced in February.
BBVA debuts “dynamic CVV” numberless card Aqua
It features a dynamic CVV code in order to provide security for online payments.
Major Indian IT firm TCS in talks to buy Deutsche’s Postbank tech unit
Postbank Systems provides IT services to Postbank, which Deutsche bought back in 2010.
Video: Top fintech stories this week – 23 October 2020
FinTech Futures’ weekly news round-up.
FCA and PRA fine Goldman Sachs £96.6m for 1MDB scandal
The investigation found that GSI breached a number of FCA and PRA principles and rules.
FAB transfers legacy banking licence to ADQ
A number of legacy banks in Dubai have launched digital-only services this year.
Unifimoney signs cross-border payments deal with Nium
The US neobank promises an “enhanced outbound money experience”.
Woman-owned de novo Agility Bank gains regulatory green light in Texas
Agility Bank aims to raise $30 million prior to launch in 2021.
FinTech Futures Jobs: six skills that can get you hired in fintech
The global market is predicted to grow at a rate of 25% annually – plenty of opportunities for job seekers!
First Women’s Bank picks Fiserv to underpin 2021 launch
The US neobank will operate out of Chicago to challenge small business lending in the US.
Unqork signs Life.io partnership weeks after $207m Series C
Life.io will build its customer engagement apps on Unqork tech.
Game over, insert coin
We are trying to pay lip service to wholesale dramatic change but get away with cosmetic modifications.
Commercial Bank of Dubai serves ‘low-income’ customers with Now Money
“[We’re offering a] much more advanced and cost-effective alternative”.
Hong Kong challenger WeLab Bank goes live on Temenos Transact
The neobank launched a few months ago.
PeoplesBank picks Nymbus to help launch digital bank Zynlo
Regional US bank stand up digital branc with help from Nymbus.
White paper: Low code development in banking and its role in high speed content-based services
How banks can make more strategic use of their content, developing applications at speed that transform services & user experiences.
Curve to launch new credit facility powered by Thought Machine’s Vault
Curve Credit allows customers allows customers to pay for their purchases in instalments.
TreeCard raises $1m from Ecosia ahead of 2021 launch
TreeCard, set to launch next year, is made of sustainable cherry tree wood.
GPS secures Visa investment to fuel international expansion
Payments processing firm plans to branch out from Europe and South East Asia.
Canadian invoice firm FundThrough raises $50m to support SMEs
FundThrough aims to eliminate the “wait” for SME payments
Russia’s Yandex and Tinkoff scrap $5.5bn deal
Internal email suggests agreement was lost on nature of the merger.
Unlocking the benefits of unstructured data in banking
Key areas that the sector is failing to tap into with ML and AI.
TD Bank files lawsuit against Plaid for “duping” its customers
The bank claims Plaid is violating its trademark and tricking customers into handing over data.
Kish Bank picks CSIs NuPoint to fuel digital change
Bank says CSI has been behind it “all the way.”
Aussie challenger Judo Bank picks nCino Bank Operating System
Judo Bank aims to automate processes to focus on customers.
Future economic relief should care for more families
Deserving families have continued to be unfairly excluded from government relief throughout the COVID-19 crisis.
TCO Report: on-premise storage vs public cloud storage
The guide to economic advantages of on-premises object storage vs public cloud for enterprise data storage.
Video: Top fintech stories this week – 16 October 2020
FinTech Futures’ weekly news round-up.
Morgan Stanley fined $60m for improper disposal of personal data
The OCC found examples in 2016 and 2019 of failure to oversee third party companies.
The end of apps
Is it time that we jumped from the app bandwagon?
Tide and GoCardless sign invoice-chasing payments partnership for SMEs
The two firms claim SMEs are suffering without timely invoice payment.
OCC issues $85m penalty to USAA Federal Savings Bank
Military-supporting lender found to have failed risk management.
Why the focus on risk weighted asset optimisation is increasing
Many banks have started formulating an action plan and framework to drive this initiative within their organisation.
FinTech Futures Jobs: five exciting fintechs that are hiring now
Top fintechs looking for talent, including Monzo, OakNorth, Cleo AI and Chip.
Aussie trading app Stake makes leap to LatAm with Brazil launch
“LatAm looks to the US as a beacon,” says COO.
FIMBank Malta taps Fiserv to improve financial crime risk management
Maltese bank to implement Fiserv AML Risk Manager.
GPS fills out executive team with handful of new C-level hires
Richard Hodgson, Shaun Puckrin, and Jerome Gudgeon join the payments firm.
Tandem Bank appoints former Allium CEO as new chief commercial officer
Paul Noble joins Tandem to help it create green digital banking services.
