Video: Top fintech stories this week – 16 October 2020
FinTech Futures’ weekly news round-up.
BankingTech
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.
Central bank digital currencies – don’t get the popcorn
If the art of the possible is being explored, the art of the valuable remains elusive.
Temenos appoints former SAS EVP as new European president
David Macdonald joins Temenos after 19 years at SAS.
Rabobank outsources regulatory reporting with BearingPoint
BearingPoint to take on a slice of Rabobank’s European reporting needs.
Bravura Solutions acquires Delta Financial Systems in £23m deal
Aussie fintech expands reach in the UK with Delta acquisition.
Swiss investment challenger FlowBank picks Temenos Transact
Temenos is set to deliver its system on a SaaS basis.
Former Barclays execs to launch challenger bank Pennyworth for UK’s “aspiring affluent”
The start-up promises impressive rates considering the current 0% interest climate.
The imperatives behind BFS
The current crisis highlights the urgent action required for businesses to upgrade to digital platforms.
Webinar: Accelerating growth & building resilience in corporate banking – benefits of moving to open APIs
72% banks have seen an increase in the integration of corporate banking APIs this year. What’s you organisation doing?
Breaking down walls
FinTech Futures took this somber moment to sit with Keisha Bell at DTCC.
Video: Top fintech stories this week – 09 October 2020
FinTech Futures’ weekly news round-up.
Sibos 2020: Citi’s CEO calls on banks to deliver social justice
“We have a larger obligation to deliver fairness.”
Bank of America teams up with Black-owned Unity bank
BoA has acquired approximately 5% of the bank’s common equity.
Capitec Bank selects HPS PowerCard to power new product launches
The South African Bank aims to “simplify” banking for its customers.
Jordan Ahli Bank goes live on Temenos Infinity
The Jordanian bank is an existing user of Temenos’ core banking system.
Grasping the opportunities of new digital customers
A flexible approach is needed to ensure newly digital customers aren’t frustrated.
Sibos 2020: BNP Paribas chairman says COVID-19 “not a banking crisis”
The work of banks, regulators and governments has kept things calm, says Jean Lemierre.
Mastercard and Ethoca deliver greater transparency in digital banking applications
All merchants can upload their logos at logo.ethoca.com for inclusion in online banking and payment apps.
Banks must empower SME clients with more than a repackaged retail account
“Once you strip back a lot of the functionality in retail banking it’s more about experience than solving issues.”
Citi invests in markets software firm Genesis Global Technology
The undisclosed strategic injection sees Citi deploy some Genesis tech.
UK Finance appoints David Postings as new CEO
Postings is an industry veteran, spending 25 years at Barclays and three at Lloyds.
Young Black lives in banking
The number of senior Black execs on Wall Street has remained under 3% for the past decade.
Banking Technology October 2020 issue out now
Educate, advocate, invest: It’s not enough for companies to pay lip service.
FinTech Futures Jobs: eight tips for landing a job in a new city
And make sure to check out Fintech Futures Jobs for a variety of excellent vacancies!
Sibos 2020: Future artist
I see growing companies. I see ambitious professionals. I see evolving stories.
Sibos 2020: ING’s CEO urges regulators to give banks a PSD2 equivalent
Van Rijswijk is “strongly advocat[ing]” that regulators come up with an equivalent for banks.
Sibos 2020: Victoria Harverson, global head of business development at SmartStream Air
She discusses SmartStream’s AI solution for data processing.
Sibos 2020: Søren Skov Mogensen, chief growth officer at Banking Circle
He discusses the firm’s recent research.
Sibos 2020: Banks must persevere with difficult fintech partnerships
CommBank CEO CommBank says all deals are valuable learning opportunities
Sibos 2020: SmartStream advances AI solutions for data management
The new tech “enables non-IT staff to take multiple complex data sets and compare them within seconds”, says CIO.
