US rapper Killer Mike unveils Black and Latino-focused challenger bank Greenwood
Each month, the digital challenger promises to gift $10,000 to Black or Latinx businesses.
Business-to-Business/B2B
Ternio becomes Visa’s first crypto enablement partner for debit cards
“This shows Visa’s commitment to onboard other companies which develop crypto.”
Marqeta bags undisclosed Mastercard investment
“We want to invest in products, in customers and invest in continuing to grow globally,” says Marqeta.
Sibos 2020: Finastra steps out of big bank payments bubble with smaller bank offering
“In Europe, these [smaller] banks are the vast majority.”
Jumio talks Asia-Pacific growth, the platform play and new sectors
“There is a long-term value proposition in re-authentication,” says CRO.
MineralTree raises $50 million, acquires Inspyrus and Regal Software
Accounts payable firm plans to take firm grip of mid-market segment.
Crypto exchange Gemini launches in UK armed with EMI licence
UK customers can now make GBP deposits to fund their Gemini account.
Nasdaq plans cloud migration for all 28 markets by 2030
“The real benefit [of the cloud] is the ability to scale,” says Nasdaq.
US payments firm Melio raises $80m in Series C funding round
Melio plans to use its new funding to expand and reach more customers.
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.
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.
