Step receives $22.5m Series A funding
Challenger for teens’ waiting list has surpassed half a million people.
Retail Banking
JP Morgan folds smartphone bank account one year after launch
Finn accounts, aimed at millennials, will be moved to the Chase mobile app.
FCA introduces new rules for P2P platforms
P2P platforms must implement changes by 9 December 2019, but the application of MCOB is immediate.
Step and Kard target teen market for banking
Both banking apps have launched their waiting lists.
New APP scam protection code comes into force
Victims now more likely to get their money back.
Allegacy FCU takes Fiserv core and other applications
The institution is understood to be replacing FIS’ old Miser system.
Money transfer app Pangea looking to offer checking accounts
More firms are looking to jump into the challenger bank world.
ATMs decline for first time as cash demand falls
But ATMS are on the rise in developing markets.
OpenFin raises $17m for financial desktop innovation
This brings OpenFin’s total funding to $40m.
Top fintech stories this week – 17 May 2019
SoftBank’s big investment, as well as BCR’s pool B… and more!
Zenus Bank launches aiming to serve global clients
The US bank holds an international license.
New regtech FrankieFinancial signs up Xinja and Novatti
Aims to solve $4 billion legacy systems overhead problem.
Santander Spain plans a large jobs cut
Around 10% of its total workforce in Spain.
ClickSwitch simplifies recurring payments with $13m funding
The Series B was led by Commerce Ventures and Point72 Ventures.
Nationwide, Investec and Co-op Bank share £80 million BCR grant pool
All three commit to modernise and improve business banking for SMEs.
Video: fintech news weekly round-up – 13 May 2019
This week, blockchain and crypto by big names like Facebook and Microsoft, among other news!
Two new next-gen banks to open in the US
Piermont Bank and Nexos National Bank.
Why retail banks should not be afraid of collaboration, even with tech giants
Collaboration for incumbents is the only way to catch up with the market and become truly consumer-centric.
New Medici Bank to harness technology to “reawaken” innovative spirit
A descendant of the Medici family sees future in Puerto Rico.
Royal Banks of Missouri adopts POPi/o video banking
Community bank is an early adopter of collaborative video banking.
Pacific National to launch digital bank on Nymbus Banking-as-a-Service platform SmartLaunch
The bank hopes to be able to launch within 90 days.
CBANC acquires Lendwell
Terms of the transaction were not disclosed.
Klarna brings its alt payment options to retail shops
Bringing pay later to consumers in stores.
Top fintech stories this week – 3 May 2019
May issue is out!
Indio Technologies brings digital to insurance with $20m funding
The company has raised over $30 million in total.
RBC adds budgeting tool to mobile app
It tracks and budgets expenses in five areas.
Meed Banking Club launches in the US with member exclusives
Leveraging banking services at Vast Bank, which itself is going through a major tech revamp.
Regions Bank taps IBM for AI-driven customer service
IBM’s Watson can help both employees and customers.
TD Bank moves to Microsoft Azure cloud
The bank has also implemented Office 365 for employees.
Standard Chartered gets customer experience revamp with Avaya
The bank will implement the Avaya OneCloud Private solution.
Figure Eight acquired by Appen
Terms of the deal were not disclosed.
Mount Lehman CU goes live with Smart Solution’s Universa
This is supplier’s sixth user in British Columbia.
Top fintech stories this week – 18 April 2019
Catch up on FinTech Futures’ top five fintech stories of the week – all in one place!
NCR chosen to support Provident Bank’s digital strategy
Aiming to achieve better capabilities, easy integration with core banking systems and a more intuitive design.
NBT Bank picks Fiserv to deliver tailored digital banking services
Software development kit enables employees to respond to customer feedback.
Zions’ Bancs conversion project rumbles on
This follows a go-live for consumer lending in May 2017.
New challenger Xpats kicks off from Mexico
Offering three different tiers of account and services.
Canadian challenger Mogo merges with Difference Capital
It will give Mogo access to Difference’s technology company portfolio.
Standard Chartered fined $1.1bn for bad AML and sanctions breach
Both US and UK regulators have imposed large penalties.
Varo Money gets NICE AML tech
AML and KYC for all mobile needs.
