Three million ABN Amro customers face in-person ID checks
Bank is aiming to comply with anti-money laundering regulations
News
Nebraska’s Pathway Bank enters world of video banking with POPi/o
POPi/o also has partners in California, Idaho, Nevada and New York.
Lemon Way nabs €25 million investment from Toscafund
Parisian payments firm plans geographic expansion with new funds.
Video: Top fintech stories this week – 18 October 2019
FinTech Future’s weekly news round-up.
FinovateAsia Best of Show winners announced
“We are thrilled to be back in the Garden City.”
Help-to-buy fintech Proportunity raises £2m, offers alternative to UK government
The fintech provides first-time buyers with an equity loan of up to 15%.
Wealthtech Genuine Impact plans new app launch with fresh design
It launched its first app back in February 2019.
US challenger Chime goes down for millions of customers
Chime serves more than five million accounts across the US.
R3 signs partnership with securities exchange Archax
Firm will deploy R3’s Corda Enterprise platform for post-trade.
FCA should overhaul EMIR supervision, says ESMA review
FCA ranks bottom among six major EU competent authorities for EMIR data supervision.
CNB Bank selects nCino to digitise retail lending processes
Pennsylvanian bank opts for firm’s Bank Operating System.
Yorkshire Building Society opts for OutSystems
Installation of a new integrated development environment underway.
Temenos wins new deal in Finland with Municipality Finance
Finnish credit firm opts for Temenos T24 Transact.
RegTech startup Apiax raises $6.6m in Series A round
Firm aims to digitise regulatory compliance into binary code.
CIMB Bank Singapore completes first trade finance transaction with blockchain
Bank was aided in the transaction through use of iTrust platform.
Deutsche Bank selects Tieto to boost virtual account services
The deal enables an enhanced cash management offering to corporate clients.
Bank of England finds two-thirds of industry using machine learning
Firms would like to see more guidance around ML regulations.
eBook: 5 AI solutions every retail bank needs
Download the DataRobot ebook today
Santander leads €35m funding round in digital debt marketplace CrossLend
Lakestar, ABN AMRO Ventures and Earlybird will also be investing.
FCA will ‘take appropriate action’ against product greenwashing which misleads customers
The regulator will work on “common standards and product disclosures”.
EBA sets December 2020 migration deadline for SCA compliance
European watchdog gives payments industry just over a year to comply.
ID Finance crowdfunds £1.5m in minutes, eyes up Hispanic and Latino loan market
ID Finance is on track to double revenues to €90m this year.
Link extends Vocalink infrastructure contract to 2031
Vocalink emerges winner of competitive bid process.
Industry apathy remains as SFTR deadline looms
Market participants suggest there is a worrying lack of preparedness for SFTR.
Calastone takes on ex-BNY Mellon exec Dan Kramer for US expansion
Kramer managed end-to-end customer experience at BNY Mellon.
FinovateFall 2019 in pictures
There was so much to take in over the three days!
Libra publishes signed charter with 21 members, inc. Spotify, Uber and PayU
Libra’s meeting also agreed on board members and staff.
Ripple invests in XRPL infrastructure startup Towo Labs
Investment going towards the development of hardware wallet firmware.
Old Mutual plans to move 1,000 applications to AWS cloud
South African financial group makes strategic cloud decision
Hong Kong Exchanges and Clearing inks deal with Transaction Network Services
The agreement will see low-latency connectivity being offered to HKEX trading partners.
Cashforce solves forecasting challenge for treasuries, raises €5m funding
INKEF Capital and Citi Ventures led the Series A round.
Uwharrie Bank chooses Fiserv’s DNA core platform
The bank has also added card services.
DIS 2019: OBIE trustee says business-consumer adoption figures in ‘hundreds of thousands’
The ‘big nine’ UK banks still represent around 95% of the market, says OBIE.
DIS 2019: Lendtech OpenWrks says it can predict divorce and relationship breakdown
OpenWrks can determine when gambling will become a health issue too.
UK lendtech Zopa brings transparency to credit score calculations
Zopa says it’s the first lender to show how it determines who to lend to.
Nigerian fintech Lidya launches SME lending platforms for Poland and Czech Republic
The company’s USP is to create 100 million jobs worldwide.
India’s fintech Paytm in talks with T Rowe Price for $1 billion funding round
Existing investors SoftBank and Ant Financial are also expected to participate.
UK cybersecurity firm Sophos bought by America’s Thoma Bravo for $3.8bn
Sophos houses more than 3,400 staff and a turnover of $710.6 million.
Nine UK fintechs land in Australia under the countries’ bridge programme
The companies will be showcased at Melbourne’s Intersekt conference.
OpenPayd appoints two new C-suite execs
They aim to accelerate its growth and the development of its technology.
