Saxo Bank completes acquisition of BinckBank
Saxo intends to initiate the statutory buy-out procedure.
News
First-time homebuyer platform Morty raises $8.5m
The funding was led by New York-based investor Prudence Holdings.
Robinhood gets greenlight from FCA to launch trading app in UK
The 2013-founded Silicon Valley start-up offers a cheaper way to buy and sell US stocks and shares.
RBC launches student experience on mobile app
The ‘Mobile Student Edition’ is designed to tap into the Gen Z market
Mastercard acquires Nets’ real-time payment business
Nets’ Corporate Services business offers a gateway into several European markets
Trov partners with Lloyds and launches white-label insurtech platform
Later this year, Trov and Lloyds Banking Group will release an insurance product on the ‘Powered by Trov’.
Piggy bank start-up ERNIT sells up
One source says the company is trying to see what the market appetite is for a solution like theirs.
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FCA delays SCA payments rules after threat to sales
Companies will have until March 2021 to implement most of the technical requirements.
Deutsche Bank creates digital bank Fyrst
Currently the project is suspended by the former subsidiary Postbank.
Fraud fighting platform secures additional $2.5m funding
Eftsure will be expanding the product suite to cover international payment verification.
IIG Bank Malta live with Temenos T24 core and digital platform
It also took Temenos’ financial crime mitigation module.
Elevator Ventures invest in RegTech platform kompany.com
kompany combines AI, robotic process automation and blockchain technology.
Klarna bags $460m equity funding
It’s now the most valuable EU fintech with a valuation of $5.5 billion.
Experian closes $20m of Series B1 in CompareAsiaGroup
Making this its fifth major investment in Asia Pacific since 2017.
Mizrahi Tefahot selects Temenos’ T24 Transact for capital markets
T24 Transact will interface with trading systems and the bank’s core systems.
Nasdaq uses AI to root out stock-market abuse
It detects irregular trading patterns and alerts officials according to machine-learning.
Federal Reserve reveals real-time payment system plans
FedNow will be available to all US-based banks by 2024.
Standard Chartered Bank launches Shanghai eXellerator lab
It will tap into China’s advances in artificial intelligence, biometrics and mobile payments.
SmartStream partners with Finanz Informatik Solutions Plus
This will support reconciliation processes for financial institutions.
Penta raises €8m in funding round
The round was led by HV Holtzbrinck Ventures.
Almost half a million Monzo customers affected by data breach
The data leak allowed staff engineers access to PINs stored in encrypted log files.
SVS Securities enters administration
The FCA has opened an investigation into the company.
Insurwave onboards Xceptor to digitise insurance documents
Xceptor uses AI to to extract and transform any type of data from any source.
ASOS and Klarna bring flexible payments to the US
The US will pay in four scheduled bi-weekly instalments to reflect the US salary schedule.
BHF Rural Bank pilots programme with PearlPay
BHF becomes first ever Filipino rural bank to use core banking solutions.
Federal Bank launches instant online demat account
It is the first bank in India to offer the service.
Ipagoo enters administration
This was to protect the interests of Ipagoo’s customers.
Grayscale selects Coinbase to store $2.7bn worth of assets
Coinbase Custody had reached $1 billion in crypto AUM in May.
Western Union and MoneyGram report losses
Western Union is chopping its workforce by 10%.
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Standard Chartered and Linklogis debut joint transaction on blockchain platform
The bank leveraged Linklogis’ WeQChain platform.
Indonesia shuts down 826 illegal fintechs in 2019
The regulator began a crackdown last year.
Oromia International Bank goes live with ICS Banks core banking system
OIB’s end-of-day processing has been reduced to less than 30 minutes as a result.
UBS partners with BizEquity
UBS’ wealth management arm can access BizEquity’s database of businesses and valuation information.
KKR to acquire majority stake in Heidelpay
The CEO of Heidelpay will remain as a long-term shareholder.
Judo bank breaks Aussie record with $400m round
90% of previous investors took part in the second funding round.
Open banking law to boost fintech competition
It aims to shake up competition for consumers and boost start-ups against the big banks.
Video: fintech news weekly round-up – 29 July 2019
Some of this week’s news, in video format!
Crealogix moves to SaaS model
Profits have fallen but sales increased to over $100 million.
