FinovateFall 2020: Why Banking-as-a-Service is fintech’s newest trend
It essentially turns the company into a challenger bank, even if the company has no ties to banking.
Business-to-Business/B2B
FinovateFall 2020: COVID-19 a chance to build, not just react
“Companies need to leverage this inflection point correctly.”
Supplement: FinovateFall 2020
Read our free FinovateFall Supplement, packed with fintech goodness!
Mastercard unveils virtual CBDC testing environment
A switch in tactic from Mastercard, which wasn’t always in favour of CBDCs.
FIS claims early cloud investment prevented COVID-19 disruption
A number of US banks suffered downtime in April due to COVID-19 stimulus cheques.
Small challenger Jiko buys Minnesota bank
Instead of sitting in deposits, Jiko customer money sits in Treasury Bills.
RTGS Global kicks into gear to disrupt correspondent banking
RTGS has built its system on Microsoft Azure.
Aussie BNPL Zip closes $296m acquisition of US player QuadPay
“The US is a critical part of our global strategy,” says CEO.
NerdWallet steps outside US, acquires UK’s Know Your Money
Know Your Money had some five million consumers and 1.2 million business clients in 2019.
US payments start-up Finix lands $30m from Lightspeed & Amex
To date, Finix has raised $96 million in venture capital.
Video: Top fintech stories this week – 28 August 2020
FinTech Futures’ weekly news round-up.
US credit fintech for minorities Esusu lands £2.3m
More than 5,000 renters in the US have applied for Esusu.
ID start-up Socure lands $61m from Citi, Wells Fargo & MVB
The start-up was co-founded back in 2012.
JP Morgan’s blockchain platform Quorum moves to Brooklyn
JP Morgan has also made an undisclosed strategic investment in ConsenSys.
LA start-up AmplifyX lets investors build portfolios around musicians
From 2015 to 2019, the entire music industry grew sales at a 9% rate.
US unicorn AvidXchange launches secondary offering
AvidXchange says it’s had a three-year growth rate of 133%.
2020 PayTech Awards hosted online by Zoe Lyons
Join our celebrity host Zoe Lyons for PayTech Awards 2020! Free broadcast on 10 September – everyone is welcome.
American Express looks to buy US fintech lender Kabbage
Kabbage was last valued at more than $1 billion.
Dosh powers PayPal’s Venmo and US challenger Jelli
The fintech says it will soon have 60 million indirect users.
Banking offering for landlords Zibo lands $10.5m
Zibo is a fintech for the “underserved landlord”.
Business banking challenger Wise launches premium account in US
The Californian challenger piggy backs off BBVA.
Fintech funding rebounds in Q2 but deal numbers continue to fall
VC-backed fintech deals dived from 452 in Q1 to 397 in Q2.
Financial comparison marketplace Crediverso to launch in US for Latinos
Currently in beta, the 2019-founded start-up is yet to go live.
Money20/20 finally calls off Europe and US shows
It specifically cites the friction with regards to travel and COVID-19 developments.
Galileo integrates with Plaid to simplify ACH transfers
The integration will streamline the initiation of ACH transfers.
Thought Machine taps US market with North America MD job search
Cloud adoption in North America amongst major banks is still in its infancy.
Volante lands $35m, its first capital raise in two decades
The firm wants to turbocharge its offering, customer base and geographical presence.
Deposit grower Mantl raises $19m in extended Series A
The fresh capital adds to an extended $11 million Series A raise.
US national banks granted authority to hold crypto for customers
US banks and federal savings associations can offer cryptocurrency custodial services.
Morgan Stanley publishes greenhouse gas emissions on loans & investments
The bank is joining the Partnership for Carbon Accounting Financials.
Disposable card issuer Privacy.com lands $10.2m
The start-up has issued around five million virtual card numbers.
Bond bags $32m from Coatue, Goldman Sachs and Mastercard
Bond’s offering is based on “developer-focused” applications.
Webinar: Streamlining manual processes amid COVID-19
Experts from Banco Santander, Foxit Software and Xendoo discuss digitising paperwork during the coronavirus crisis.
LemonTree Software aims to disrupt back and middle-office systems
Its CCO speaks to FinTech Futures about the firm’s one-platform and auto-code approach.
Real-time payments: driving future innovation in the US
The maturing RTP infrastructure is a catalyst for wider payments transformation initiatives.
Canadian data aggregator Flinks lands $11.8m led by NAventures
The fintech is moving into wealth and expanding to the US.
ChannelMeter raises $4m for content creator banking service
The start-up is launching its new service ‘Creator Cash’ this month.
Capitolis lands former Microsoft Azure director as CPO
Rahul Auradkar spent more than 12 years at Microsoft.
ScaleFactor winds down after COVID-19 cripples sales
The start-up raised $100 million between July 2018 and August 2019.
P2P payments app Chipper Cash lands $13.8m
The San Francisco-based start-up operates across seven African countries.
