Digital assets focused SEBA receives Swiss banking licence
It is being hailed as a milestone for the blockchain and digital asset economy.
News
Insurtech Hedvig raises €10.3m
The funding values the company at SEK342 million ($35.5 million).
Horizon Credit Union is becoming a bank from 2 September
“Regrettably, many people don’t know what a credit union is, who can join and what they do”.
Schroders Personal Wealth troubled by IT issues
The launch of the joint venture between Lloyds and Schroders have prompted widespread complaints from staff.
Standard Bank and Nomanini sign 12-months in the making $4m deal
Nomanini will be looking to raise additional funding for growth.
Indian digital payment firm BharatPe raises $50m
The company is now valued at $225 million.
Credit Suisse to focus on digital banking
“Maintaining the status quo was not an option.”
Raisin to offer pensions with acquisition of Fairr
It will be the first online marketplace to offer savings, investments and pensions.
Wealthfront acquires robo advisor Grove
California-based, Wealthfront, is acquiring financial planning fintech Grove for an undisclosed sum
Members-only rewards club CRED raises $120m
The club offers benefits for those with high credit scores.
PAI acquires Eclipse Cash Systems
The deal takes PAI’s network to over 90,000 ATMs.
CaixaBank to release biodegradable cards
The bank will roll out150,000 of the cards each year.
Telia and OP Financial test facial recognition payment
The pair installed Finnish firm Pivo’s technology in an ice cream truck.
How Laybuy seeks to attract global Gen Z market
Laybuy asks for no interest and brands itself as “ethical”.
MoneyGram hits back at consumers and investors
The paytech company says it “can’t make everybody happy”.
New core banking software deals for Oracle FSS
The latest financial quarter brought licence deals worth $29 million.
Top fintech stories this week – 23 August 2019
Catch up on FinTech Futures’ top five fintech stories of the week – all in one place!
booyah! bank blasts off in US
It’s backed by FDIC member, Surety Bank.
Money Dashboard raises record £4.6m crowdfund
The Scottish fintech hit its initial £1.5 million target in 45 minutes.
New US banking service launches for international students
The account is designed to make life easier for new arrivals.
N26 officially launches in the US
The challenger bank has also introduced a new sub-accounts feature.
Blooma raises $2.7m in first seed round
The financing was led by Floodgate.
Barclays customers suffer most internet banking incidents
There were 21 operational and security incidents within a year.
People’s Bank of China to issue fintech development plan
The strategy will include actions to control risk.
Selangor government unveils one-stop digital payments platform
Citizens will be able to make payments to agencies at all levels.
Swiss fintech start-up Numbrs reaches unicorn status
Numbrs raised $40 million, pushing it over $1 billion in value.
JP Morgan to shut down Chase Pay app in early 2020
This venture will soon be joining the US bank’s other shelved platforms this year.
Student lender MPOWER secures $100m from Goldman Sachs
Goldman Sach’s total loan financing capital for MPOWER is $200 million.
Data breach leaves PayID’s customer details exposed
NPP Australia confirms the affected data included name and account numbers.
Tink tells NCA companies “are not ready” for PSD2
The letter also asks for “stronger industry collaboration” with TPPs.
Bank of America announces “record-breaking” P2P app payments
The bank received 163 million transactions in less than nine months.
Paysafecard and G2 Esports extend collaboration
More than 400 million people worldwide had watched an e-sports event by 2018.
Tala raises $110m for expansion plans
PayPal Ventures also participated in the round.
CoinFLEX announces $10m funding and Market Making Program
The initiative will target trading firms, hedge funds and cryptocurrency companies.
Credit union NEFCU chooses Fiserv for digital transformation
NEFCU has more than $3 billion in assets.
Nordic challenger bank Lunar Way raises €26 million
With its fresh new licence, Lunar Way is now the newest bank of the Nordics.
JRNI closes $6m Series C extension and appoints new CTO
The new capital will go to US acceleration and European markets.
Natwest, Tesco, RBS and Nationwide experience banking IT outage
Customers couldn’t access credit card information with monthly bills imminent.
WhatsApp talks to Indonesian fintechs for mobile payments launch
WhatsApp is waiting for regulatory approval in India for a similar service.
Mortgage start-up Better.com closes $160m Series C
The fintech has seen rapid growth since its 2016 launch.
