2022: A tipping point for fintech
2022 is set to be a blockbuster year for fintech, with a number of key themes driving the industry’s growth.
BankingTech
New neobank for couples Fibbl launches in India
The Bangalore-based Fibbl bills itself as a neobank for couples to manage money as a team.
Igor Kuschnir steps down as MD and CFO of Penta
Kuschnir joined Penta in 2017 following stints at Franzen and Company, Citi and Morgan Stanley.
PRA fines Standard Chartered £46.55m for reporting failures
The penalty is the PRA’s highest ever fine in a PRA-only enforcement case.
Fiserv tapped by San Francisco community bank to provide real-time payments integration
Community Bank of the Bay will utilise Fiserv’s Payments Exchange: RTP solution.
ING announces exit from French retail banking market
The firm has been active in the French retail banking market since 2000.
New Jersey’s Manasquan Bank taps Bakkt for crypto services
The bank will take part in Bakkt’s “early adopter program”, set to launch in Q2 2022.
The (deliciously delayed) pernicious effects of “managing up”
Don’t manage up. Don’t treat your trench buddies like they’re expendable. Be a good colleague at all times.
Apiture to provide Xpress core banking solution for Missouri’s First State Bank
The 150-year-old bank will migrate its legacy digital banking solution.
FCA fines HSBC £64m for failings in its AML processes
The FCA says HSBC’s transaction monitoring systems showed “serious weaknesses” between 2010 and 2018.
Canada’s BMO acquires Bank of the West from BNP Paribas in $16.3bn deal
BMO describes the acquisition as the “natural next step” in its North American growth strategy.
Challenger banking player Monese makes its first acquisition
Monese has acquired Trezeo, a specialist financial services platform for the self-employed.
Indian paytech Razorpay raises $375m, plans international expansion
Razorpay’s Series F funding round now values the firm at $7.5 billion.
Unlocking the digital potential of financial services through predictive analytics
Integrating the best of human and machine intelligence allows organisations to be better prepared.
AIB signs €65m deal with IBM for hybrid cloud transformation
IBM will help the bank achieve its 2023 digital transformation strategy goals.
SweepBank launches in Europe to provide “Netflix experience” in banking
SweepBank is underpinned by Tuum’s core banking platform.
Polish subsidiary of ING opts for Thought Machine’s core banking tech
ING Bank Śląski is now live on Vault for a new consumer lending product.
India’s Open buys neobanking start-up Finin in $10m deal
Open CEO Anish Achuthan says the acquisition will complement his firm’s BankingStack enterprise offering.
Fintechs are from Venus, banks are from Mars – and VCs can be the matchmaker
Despite belonging to the same universe, the differences between fintechs and banks can at times seem vast.
Dear Luc: What fintech trends should I prepare to see in 2022?
Four trends that FinTech Futures’ Agony Uncle predicts will occur in 2022.
NatWest and TrueLayer conduct first series of variable recurring payment transactions
NatWest is the first of the nine largest UK banks to conduct VRP transactions in a live environment.
Russian digital bank Tinkoff taps Finastra for Asian expansion
Finastra’s Fusion Essence Cloud solution will power the bank’s planned subsidiary in the Philippines.
Carbon as a currency
Linking currency to carbon could open the door to a better and more sustainable economy.
Report: Safety in numbers – levelling the playing field for green finance
Turning up the volume on green finance – read & download the full report for free.
India’s FSS and CSB Bank team up to provide banking services to the financially underserved
The partnership will see 1,000 Smart Cash franchises opened in underbanked areas.
Barclays turns to HPE GreenLake for private cloud platform
The new cloud platform will host thousands of apps and 100,000+ workloads.
Wyth Financial hires new VP of customer experience, Mark Nicholson
Nicholson moves from rival Canadian digital bank Tangerine.
KAF taps Temenos to launch digital lending business in Malaysia
KAF will use Temenos Banking Services for retail loans and Islamic financing.
Blue Federal Credit Union picks Backbase for new front-end digital interface
Blue FCU will adopt Backbase’s Digital Banking, Digital Sales and Digital Assist solutions.
But I don’t like strawberries
You shouldn’t always accept the premise of a question. Especially if it’s evidently not itself premised on fact.
Zopa shutters P2P retail investment business to focus on banking offering
Zopa CEO says erosion of consumer trust and regulatory burdens are to blame.
Ameris Bank adds to lending portfolio with Balboa Capital acquisition
Ameris Bank resources will allow Balboa to expand its offering, says Balboa CEO.
NatWest hit with £264.8m fine from FCA for money laundering failures
The fine includes a 33% discount thanks to the bank’s early guilty plea.
The development of real-time payments in the US
In the US, real-time solutions look set to revolutionise payments as we know them.
Banking Technology Dec 2021/Jan 2022 issue out now
Cover story: THE GRETA GOOD – How the finance sector can help save the planet.
Fintech funding deals globally 6 December – 12 December 2021
Featuring Monzo, Tipalti, Mambu, Tradeshift and Pleo.
Video: fintech news pick of the week – Better.com, WeLab & Rapyd
Our top pick of news from the world of finance and tech in bitesize video format, every week.
South African challenger bank Tyme completes $180m Series B with Tencent investment
The investment from Tencent and UK development finance institution CDC brought in an additional $70 million.
HSBC and Wells Fargo launch blockchain-based FX settlement solution
The shared, private ledger enhances settlement speed and efficiency and reduces risk.
UK SME lender OakNorth acquires cashflow forecasting solution Fluidly
Since its launch in September 2015, OakNorth Bank has lent over £6.5 billion to SMEs.
