Video: Top fintech stories this week – 25 October 2019
FinTech Future’s weekly news round-up.
News
Temenos picked by Danish challenger Lunar to fight financial crime
Temenos says it was chosen to “address stringent regulatory demands”.
Goldman Sachs leads $35m Series B round in data storer Very Good Security
Andreessen Horowitz and Vertex Ventures also participated.
Irish credit unions finally take on banks with new current account offering
The country has long-awaited the sea change.
Revolut launches in Singapore
Country will be Revolut’s first Asian market and second outside Europe
Société Générale to offload SG Finans leasing business
French banking group puts Nordic wing up for sale.
Core banking challenger Neocova launches in central USA
New firm on the block wants to change how community banks are served.
ING validates transactions without compromising data in “blockchain breakthrough”
Transactions on Corda can now be proofed with complete privacy.
Natwest, Nationwide and RBS pull banking apps from Google Play for Samsung S10 users
The S10’s fingerprint feature glitch means it can be unlocked by anyone.
Starling Bank secures £30m with user milestone on horizon
Challenger expects to cross the threshold within a few weeks.
Western Union expands into Asia with Kyodia and Hanpass partnership
The collaborations are live with payout functionality.
B-North aims to bring back brokers to the UK SME market
The fintech is in the process of acquiring its banking licence.
EBA’s migration deadline for SCA must be seen as a warning
Regulator has given plenty of time for merchants to whip themselves into shape.
Kleinwort Hambros turns to ERI after cancelled FNZ technology project
Société Générale-owned private bank prepares to move forward on ERI.
UK consumers stick with their banks as switches drop again in 2019
This decrease follows a similar pattern between Q1 and Q2.
Glue42 partners with RocketFin to bring behaviour mining to banks’ regtech suite
Glue42 works with the likes of JP Morgan Chase.
PeerNova raises $31 million in new funding round
Data reconciliation firm plans to build out its flagship platform.
Luge Capital raises $85m to invest in Canada’s start-ups
Investments will range from $150,000 to $2 million.
Click to Pay e-commerce solution launched by Amex, Mastercard, Visa
Card schemes aim to reduce online payments friction in US.
US fintech community dealt blow by federal court as charter is denied
The OCC will be appealing the decision by the US courts.
Crunch launches mobile accounting platform for UK’s self-employed
The cost £5.5 million and four years in development.
US Bank plans thousands of job cuts in staff restructure
Bank is blaming changing customer behaviour for the need to downsize.
GMG, Wecan and Capelli bring blockchain to real estate sector
The product is dubbed ‘Wecan Tokenize’.
Santander to sell Puerto Rico arm to FirstBank in $1.1bn deal
FirstBank will own all 27 bank branches on the island.
Bank of Lithuania pits IBM against Tieto for new blockchain project
Two technology firms go head to head in final sandbox stage.
Thought Machine to power Standard Chartered’s new Hong Kong bank
Vendor to underpin digital bank’s new products.
PPRO joins forces with GrabPay in paytech partnership
Integration deal will support PPRO’s footprint in Asia-Pacific.
Instabase raises $105m sent to unicorn status
The bank app has raised $132 million since it began in 2015.
Complexity of SME market still eludes banks
Panel at the International SME Business Banking Forum believes banks missing a trick.
Kaleyra and Epiphany launch first open banking hub in Italy
The hub will give banks a space to launch PSD2-compliant products.
Mastercard and Visa battle over Revolut deals
Revolut says 75% of its non-European cards will eventually be Visa branded.
Contactless charity donations start-up GoodBox raises £1m
The funding is part of a combined Series A £2.3 million.
Santander to launch online deposit platform in US
It is said to be a rival to Goldman Sachs’ Marcus offering.
Ebury completes first acquisition with Frontierpay purchase
Ebury will use deal to expand and boost payments capabilities.
CYBG kicks off long-awaited Virgin Money rebrand
CYBG to assimilate all products and services under one name by December 2020.
Evolve Bank & Trust taps i2c for cloud-based core banking, card issuance
Payments processor upgrades its tech with i2c.
Mastercard trials Payment on Delivery with PNC Bank
New solutions aims to eliminate problems around cash and cheque usage.
White paper: Digital transformation in credit for commercial and corporate lending
The question by now is no longer whether to transform, but rather how to transform.
BNP Paribas purchases stake in Allfunds to bolster wealthtech solutions
Bank aims to create market-leading software using Allfunds expertise.
Islamic challenger bank insha launches in Germany
New entrant wants to place the daily life of a Muslim at the centre of its offering.
