HSBC glitch sends coronavirus bounce back loans in error
UK bank has processed £4.5bn in loans so far in 2020.
Europe
Belgian cooperative NewB picks Wolters Kluwer’s OneSumX
The new Belgian bank wants OneSumX to manage its ALM ops.
Tide freezes lending after funding falls through
The fintech said the BBLS “doesn’t meet the requirements” of prospective investors.
Commerzbank plans 10,000 job cuts as CEO and chairman step down
Shareholder pressure saw Martin Zielke and Stefan Schmittmann depart earlier this week.
German business banking start-up Penta tops up Series B by €4m
The financing round adds to the fintech’s Series B in March.
Mastercard invests in long-term fintech partner Verestro
The fintech has worked with Mastercard since 2011.
Liechtenstein’s VP Bank bags fintech CEO for client solutions unit
Thomas von Hohenhau is the Swiss CEO of Hamburg-based fintech Deposit Solutions.
Virgin Money restarts planned job cuts and branch closures
The UK bank’s plans had been put on hold by COVID-19.
Deutsche Bank signs Google Cloud strategic partnership
Deutsche picks Google after five-month negotiation period.
UK challenger Monument to tap Britain’s mass affluent
The fintech has raised £10 million to date.
Starling Bank launches two new paid business accounts
The roll-out includes its second multi-currency account.
Aldi Nord switches card acquiring to Fiserv in five days
Fiserv steps in as long-serving technology partner for retailer.
Lloyds CEO António Horta-Osório to step down in 2021
“Mixed emotions” for Horta-Osório as Lloyds announces new chairman.
Commerzbank fined €650k by Cypriot regulator
German bank sanctioned in relation to dealings with now-defunct Laika
Lending Works acquired by Intriva Capital
Intriva has bought 100% of Lending Work’s equity for an undisclosed price.
UK Finance lands two new managing directors
Both new appointees will join the trade body in the autumn.
Overcoming challenges on the road to open banking success
FinTech Futures speaks to Rajashekara V. Maiya at Infosys Finacle about open banking.
How open is open banking?
If open banking was to deliver on its promise, the opportunity for growth would be enormous.
Crypto trading platform GPay shut by UK High Court
On 23 June, the court “wound up” GPay “in the public interest”.
Monzo’s co-founder Tom Blomfield leaves its board
According to a Companies House filing, his termination occurred on 17 June 2020.
Starling Bank applies for £35m grant from BCR
The UK challenger bank was awarded £100m last year.
PBI lands €45m & acquires salary-backed loans business
The fintech was founded by ex-UniCredit execs.
Monte dei Paschi explores merger plan with Banco BPM
World’s oldest bank looking to bulk up its resources.
Major banks take another step towards ‘truly European’ payment system
Some 16 of Europe’s major banks are set to initiate the implementation.
Infrastructure that gives you an edge: payments-as-a-service
The only technology model for future payments ecosystems.
How 5G will revolutionise consumer banking
When 5G is part of our nationwide infrastructure, it will transform products and services.
Santander launches Mi Vuelta COVID-19 track and trace app
The Mi Vuelta COVID-19 track and trace app allows employees to report any symptoms.
American Express GBT launches SME cashflow platform Neo1 in UK
The free online service helps finance teams manage cashflow.
UK opens virtual fintech trade mission to APAC
The fintech deal follows FTA talks between the UK, Australia and New Zealand.
Union Investment Group picks BearingPoint for tax reporting
BearingPoint also expects to win East-West United Bank in Luxembourg.
Commerzbank shareholder calls for 7,000 job cuts
Cerberus Capital Management makes demands of German bank.
Is your bank rotten to the core?
In banking, a legacy product core based on old technology can’t simply be modified.
Elevate Credit ceases UK operations
It will no longer be operating its wholly-owned UK unit, ECIL, under the “Sunny” brand.
UBI Banca offers digital salary backed loans with FinLeap
The partnership is through the bank’s subsidiary Prestitalia.
Sopra Banking Software taps Tink’s data channel
Sopra Banking Software serves roughly 1,500 banks and financial institutions.
Millennium Banque Privée outsources Olympic system with Swisscom
Switzerland-based firm moves core banking to the cloud.
Allica Bank goes live on Profile platforms
FMS.next and RiskAvert deployed at SME challenger bank.
Andreas Bittner steps down as co-founder of solarisBank
His five-year contract with the banking-as-a-service platform came to an end on 30 June.
Société Générale to acquire French neobank Shine
The deal is thought be be around €100 million.
TransferWise lands licence from FCA to offer investment products
The move marks its second side-step from cross-border payments.
