The evolving relationship between supermarkets and banking and the key role of fintechs
Supermarkets across the globe continue to embrace fintech partnerships to power their financial services.
Tesco Bank
FinTech Futures: Top five news stories of the week – 9 February 2024
Our pick of the top fintech news stories this week includes Worldline, Deutsche Bank, Barclays and more.
Barclays acquires Tesco Bank for £600m
Barclays says it will “welcome approximately 2,800 Tesco colleagues” as part of the deal.
FinTech Futures: Top five news stories of the week – 5 January 2024
Here’s our pick of five of the top news stories from the world of finance and tech this week, featuring HSBC, Monese, Circle and more.
HSBC reportedly enters race to buy Tesco’s banking business
Sky News first reported Tesco Bank’s interest in exploring a sale in February last year.
Co-operative Bank reportedly eyeing Sainsbury’s Bank’s £650m mortgage book
The Co-operative Bank is the frontrunner amid a bidding war being run by consultancy Deloitte, Sky News reports.
Tesco reportedly exploring sale of banking business
According to Sky News, Tesco is launching a review of its UK banking activities.
Tesco Bank partners Onfido to streamline Clubcard Pay+ onboarding
Onfido uses AI-powered biometric technology to verify customer identification during onboarding.
Video: fintech news pick of the week – Solarisbank, Tesco Bank and Nium
Our top pick of news from the world of finance and tech in bitesize video format, twice a week.
Tesco Bank set to close all personal current accounts by November
Bank to close all 213,000 existing accounts as many show “limited activity”.
Tesco Bank appoints Gary Duggan as CEO for underwriting business
Duggan to join Tesco Underwriting in July, and stay for 12 months.
Tesco Bank kicks off three-year ATM modernisation project
2,000 machines will be replaced by the end of 2023.
Capital requirements can impede innovation, says panel
One member of the panel thinks the FCA should look into its capital requirements.
Tesco Bank launches Pay by Bank in partnership with Mastercard
UK bank rolls out new service to 2.6 million customers.
Tesco Banks lands Balmer as new chief information officer
New CIO arrives to lead bank’s IT division.
Natwest, Tesco, RBS and Nationwide experience banking IT outage
Customers couldn’t access credit card information with monthly bills imminent.
Top fintech stories this week – 5 October 2018
Catch up on FinTech Futures’ top five fintech stories of the week – all in one place!
FCA fines Tesco Bank £16.4m for failures in 2016 cyberattack
Regulator cites deficiencies in debit card design and lack of care.
UK banks join the iPhone X Face ID rush
Customers of TSB and Tesco Bank are now able to use facial recognition technology, Face ID, for mobile banking app and make payments. The new technology is exclusive to Apple’s iPhone X. Carlos Abarca, TSB’s chief information officer, says: “Providing customers with biometrics logon to their mobile banking, such as Face ID, means all of […]
Top fintech stories this week – 11 November 2016
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Tesco Bank resumes full service, refunds £2.5m to 9,000 customers
Tesco Bank has refunded £2.5 million to 9,000 customers who had money stolen from their accounts by fraudsters over the weekend. It has also resumed “normal services” following the temporary suspension of online transactions from current accounts .
Tesco Bank suspends online transactions due to cyberattack
UK-based Tesco Bank has revealed that 20,000 of its customers had up to £2,000 stolen from their accounts in a cyberattack. As a result, all online transactions have been frozen for 24 hours until the situation is bank “under full control”, according to Benny Higgins, Tesco Bank’s CEO.
Roundtable: a world of real-time payments
Call it immediate, instant, fast(er) or real-time, the drive to speed up payments is being discussed in almost every country. As part of that discussion Banking Technology and ACI Worldwide brought together international participants from Australia, Europe, the UK and the US review the opportunities and challenges ahead.
‘Unstoppable evolution’ in payments poses threat to irrelevant banks
Banks have been warned that new entrants will come and ‘eat their lunch’ if they fail to remain relevant to the modern consumer in the face of an ‘unstoppable revolution’. The point was made repeatedly during sessions at the Payments International conference in London this week.
The rise of the challenger banks
The face of retail banking in the UK is changing. In July 2010, the sector witnessed something not seen in over 100 years – the launch of a new high street bank. And where Metro Bank led the way, new and non-financial consumer brands are following suit.
UK retail banks could lose out to supermarkets warns study
The UK’s high street banks are failing to satisfy consumers and may be in danger of falling behind the big supermarkets, leaving them vulnerable to competitors, according to a new report by VerintSystems and the Customer Contact Association.
