Tesco Bank set to close all personal current accounts by November
Bank to close all 213,000 existing accounts as many show “limited activity”.
BankingTech
Starling makes Fleet Mortgages its first acquisition with £50m deal
UK challenger looks to expand into mortgages as an asset class.
UK government plans further sale of state-owned NatWest shares
NatWest plans to be fully private by 2026.
Russian central bank asks exchanges to avoid cryptocurrency firms
Bank of Russia asks stock exchanges not to list crypto-adjacent companies.
Bank of Ireland to acquire Davy in €440m deal
Davy is also selling Davy Global Fund Management and its shareholding in Rize ETF to other third parties.
ICYMI funding round-up: Credit Fair, Plooto, Xclaim, Weavr & more
Another batch of funding rounds that might have flown under your radar.
Dear Luc: What’s the deal with embedded finance?
This week someone writes in to ask: how can I get on the embedded finance bandwagon?
Santander UK launches cash management platform with Infosys Finacle
Santander Global Connect will roll out in phases through the year.
Revolut picks Equifax as UK data and analytics provider
Revolut’s app is now powered by Equifax cloud-based data in both the UK and US.
Afterpay to launch lifestyle app Money on Westpac tech
BNPL firm aims to make Money a primary account for users.
Open banking myths
We are still at the start of the journey with open banking and have yet to see its full potential.
UBS pays $8m to settle SEC compliance charges
US regulator found failings in the bank’s handling of exchange-traded products.
The time before things happen
Imagining and creating things is hard, but you don’t have to do it all yourself.
Cambridge Savings Bank launches new digital banking solution
Ivy Bank will act as a digital-only division of CSB.
Australian fintech Alex secures banking licence from APRA
It’s the first licence to be handed out by APRA in 18 months.
OneFamily goes live with iPipeline’s SSG Digital
UK-based OneFamily seeks more flexibility and adaptability.
Nomo launches as UK’s newest Islamic digital bank
The new challenger is a subsidiary of Kuwait-based Boubyan Bank.
New banking service Dion.Money plans August launch in the UK
Fledgling challenger to run paid-for accounts and offer “personalised” service.
How COVID-19 has accelerated the use of digital banking solutions in Africa
The past year has seen a clear trend towards the adoption and acceleration of digital banking products.
Finnovex Southern Africa – 27th and 28th July 2021
The event, being organised by Exibex, will be held virtually.
ECB agrees to move forward to investigation phase of digital euro project
Work will now focus on functional design and prototyping and will involve focus groups.
Classic product placement has had its day
Product placement is easily recognised by the customer and viewed negatively.
AI and machine learning spearheading rapid change in data reconciliations
The industry is moving towards Reconciliations-as-a-Service, says SmartStream’s Robin Hasson.
Video: fintech news pick of the week – Revolut, Lunar and the UK fintech sector
Our top pick of news from the world of finance and tech in bitesize video format, twice a week.
M1 Finance secures $150m in SoftBank-led funding round
The firm claims the investment now takes its total valuation to $1.45 billion.
White House backs US open banking reform
The Biden Administration is looking to tackle the slow progress of open banking in the US.
What the hell happened to help?
Banks could do more to provide financial education, guidance and advice to customers.
Railsbank lands $70m investment to drive global expansion
The round follows a $37 million fundraise in November last year.
Fifth Third Bank picks FIS to power digital transformation
The bank will deploy FIS’s Modern Banking Platform (MBP) and Unity Wealth Platform.
State of play: digital banking platforms
Selecting the right digital banking platform is a lengthy process that requires careful consideration.
This is not a drill
Make sure you don’t write yourself out of your own story, as life happens.
Report: The State of Data Reconciliation
Data from 300+ heads of global reconciliation utilities, COOs, heads of financial control and transformation.
White paper: The Reconciliation Maturity Model: Part 2 – onboarding and configuration
These tools will empower firms to fully automate reconciliation within five years.
White paper: The Reconciliation Maturity Model: Part 1 – from manual to machine learning
A blueprint for consolidating, automating and driving efficiency across reconciliations – and beyond.
International Bank of Somalia partners Visa to launch card payment service
The partnership will enable cashless payments in the country.
Danish digital bank Lunar secures €210m Series D funding
The challenger says the funds will be used to continue its growth and launch new products.
Manual processes hinder growth in financial institutions
User-defined technologies hide risk at a tremendous cost and are unsustainable in the digital battleground.
White paper: SME lending – the road to real-time approvals
Discover how rapid innovation, smarter decisioning and faster approvals can be yours.
Video: fintech news pick of the week – Wise, LBGI and Circle
Our top pick of news from the world of finance and tech in bitesize video format, twice a week.
White paper: Data on demand – the power of real-time data for risk decisioning
How real-time, on-demand data will change the way you make risk descisioning.
