Eileen Serra joins Capital One board of directors
She will stand for election by Capital One shareholders in April 2020.
BankingTech
Canadian challenger Neo Financial plans 2020 launch
Neo plans a credit card and rewards-based savings.
Belgian challenger Aion hires CIO, preps flagship branch
Subscription-only bank continues development after 2019 launch.
Dissecting banking technology trends in 2020
This year will be one of continued disruption and evolution in banking technology.
Video: Top fintech stories this week – 28 February 2020
FinTech Futures’ weekly news round-up.
Monese set to make 30 employees into millionaires
This is expected after its next fundraise which will value the neobank at £1bn.
Poland’s digital banking provider Efigence talks private over public cloud
“Banks don’t want to invest in infrastructure when they don’t need it,” says CTO.
Standard Chartered joins Cobalt post-trade network
Multinational bank seeks to diversify its services to emerging markets.
New Zealand’s central bank launches new market infrastructure with Italy’s Sia
“The extent of change is significant,” says RBNZ, which is deploying to 57 banks.
Metro Bank cuts two thirds of new branches and returns £50m to BCR
The bank is paying back £50m of its fund from BCR.
Lloyds, Virgin Money and Direct Line announce fresh job cuts
The three firms blame changing customer behaviour for the downsizing.
Air Academy Federal Credit Union selects Fiserv DNA
The credit union aims to support loan servicing with new system.
Banking Circle nabs first banking licence from Luxembourg regulators
Banking Circle’s operation centers in the UK, Germany and Denmark will turn into bank branches.
Assaray Trade and Investment Bank kicks off digital overhaul with Temenos
Libyan bank signs for Temenos Infinity and Temenos Transact.
Oracle hit by third claim it misled customers with “defect-ridden” cloud tech
Two previous tries have already been made to bring the complaints to court.
Canada’s RBC to create US digital bank for “super-affluent” consumers
It will arrive in the US later in 2020 or early next year.
Malaysia’s biggest telco Axiata reveals plans to bag digital banking license
The country’s central bank announced its plans in December to issue up to five licences.
The impact of COVID-19 on the Chinese market
The effects of the coronavirus on the local fintech market isn’t all negative.
Wells Fargo agrees to pay $3bn fine for fraudulent account furore
US bank agrees to pay hefty settlement fine on ongoing probe.
Banks rely on big bang system replacements to cope with real-time demand
An evolving customer base demands accelerated time-to-market, says Oracle’s Vikram Gupta.
Mastercard plans to triple Irish workforce with 1,500 hires
Credit card giant leases three new buildings in Dublin.
Data firm Akoya spun out as independent company by FMR
Akoya goes it alone after less than a year under FMR umbrella.
JP Morgan plans launch of digital consumer bank in UK
The US bank has been in discussions with UK financial regulators.
JP Morgan and Goldman Sachs back rival trading venue Members Exchange
MEMX is looking to rival the big three.
Australia’s regulator flags new internal bank stress-testing framework
APRA will consult the industry on the development of the framework in H2 2020.
Video: Top fintech stories this week – 21 February 2020
FinTech Futures’ weekly news round-up.
Bank of Singapore appoints new chief data and innovation officer
Celine Le Cotonnec will join the institution in its newly created role.
Bremer Bank aims to revamp digital banking with Backbase
Minnesota bank looks to boost customer experience with Backbase tech.
Priority One Credit Union kicks off conversion to Episys core system
Symitar system will save credit unions “several thousand” per year.
Sweden starts piloting e-krona on R3’s Corda platform
Sweden’s CBDC is using R3’s Corda Enterprise Blockchain platform.
Morgan Stanley to buy E-Trade for $13bn in bid to tap online traders
The Wall Street investment bank is branching out from its wealthy client base.
Sohar International nabs Nordea’s ex-chief digital officer
The banking exec joins the Omani bank at time when profits are looking up.
Barclays spies on staff, CEO investigated for Epstein links
The technology tells staff to mute their phones and avoid breaks.
The trade in human beings: How financial institutions and tech can have an impact
Banks in particular can do a lot to curb sex trafficking.
UK’s new £20 note arrives as campaigners warn cash system could collapse
Access to Cash Review calls for new laws to protect cash as the digital revolution advances.
UBS appoints ING’s Ralph Hamers as next chief executive
Hamers will step down from ING at the end of June and join UBS in September.
US banks debut cloud-based Finastra Phoenix platform
Commerce National Bank & Trust and Commencement Bank deploy Phoenix on public cloud.
Standard Chartered commits $75bn to sustainable development
Infrastructure projects to get $40bn, whilst renewable energy and clean tech to get $35bn.
Aafaq Islamic Finance goes live on Infosys Finacle
UAE institution revamps payments, core, and Islamic functions.
Santander Corporate & Investment Banking picks Bloomberg DLIB
Bank plans to use DLIB to provide structured investment products.
