Is Monzo’s 40% drop in valuation a sign of things to come for tech start-ups?
Investors in the company believe the drop is nothing more than a minor blip.
Europe
CaixaBank starts rolling out 100 facial recognition ATMs
Branches in Barcelona and Valencia already have the machines.
Metro Bank in talks to acquire UK P2P lender RateSetter
RateSetter would be bought up at “a knockdown valuation”.
Apexx Group raises $8m in Series A funding to boost payments platform
Forward Partners, MMC and Alliance Ventures participated in the round.
Deutsche Bank to create new international private bank
The new global private bank will likely hold roughly €250 billion.
iBanFirst raises $21m in Series C funding
The raise was initially interrupted by COVID-19.
Stripe adds Bacs Direct Debit to compete with UK rivals
Stripe will directly compete with UK home market player GoCardless.
Santander to hire 3,000 IT workers this year for digital transformation
“They will be at the heart of our transformation,” says bank.
Codat raises $10 million in Series A funding
Financial data fintech plans US expansion.
Klarna dips its toe in the savings market with Raisin
Offerings range to terms of up to 48 months.
Muniy chooses HooYu for KYC and raises £200,000
The fintech says it will allow merchants to pay a lower transaction processing cost.
Fintech pirkx lands £960,000 and gains former Google exec
The UK company is expanding to Australia, South Africa and the US.
Banking Technology June 2020 issue out now
Real-time payments and fraud: balancing customer relationships and security.
British Business Bank appoints interim CEO, accredits 10 more firms
Catherine Lewis La Torre starts on 1 September.
Revolut’s vice president of growth set to leave
Soon to be former VP joined the start-up a year ago.
Tinkoff launches automated micro-investing service
The bank is offering its 10 million customers an ‘Investment Box’.
ING’s multibanking start-up Cobase gets two new shareholders
The start-up will expand beyond Western Europe.
Diebold Nixdorf signs six-year contract with Austrian bank99
Diebold Nixdorf signs a contract worth $20m.
Goldman Sachs closes Marcus to new UK users amid deposit surge
Since January, Marcus has seen more than £8 billion inflow.
Sberbank partners with Visa and Russian supermarket for ‘Take&Go’ store
The bank says 1,000 users have downloaded the app.
Poland’s mBank picks Wolters Kluwer for risk management
OneSumX to be deployed across mBank’s Polish, Czech, and Slovakian ops.
Baltic bank Luminor signs on FA Solutions to simplify cross-border ops
Luminor has been working on centralising its IT systems.
TransferWise hits £2 billion in customer deposits
Users can now send money with just a phone number.
Nuapay joins UK government payment acceptance scheme
Crown Commercial Services adds another open banking partner.
Nymbus secures $12m in funding to expand digital banking systems
The vendor is aiming to push its SmartEcosystem platform.
Mobile banking platform Vivid Money launches in Germany
The challenger is working with solarisBank and Visa.
EY sued over Wirecard audit after management board comes under investigation
German regulator alleges Wirecard gave “misleading signals” for its stock market price.
US and French regulators team up to ease fintech market entry
Both regions want to boost their statuses as financial technology hubs.
PayTech Awards winners: where are they now? ANNA – Best Corporate Payments Initiative
ANNA has been busy onboarding customers and adding features to its platform for SMEs.
COVID-19: Highlight of the week
We focus on one particular coronavirus news item affecting the fintech industry.
SaaS provider Bricknode buys Lendysoft lending platform
The acquirer wants to boost revenues by 25%.
NICE Actimize agrees acquisition of Guardian Analytics
The acquisition is expected to close in Q4 2020.
Wealthify CEO steps down as Aviva seals acquisition
All three co-founders have taken exit options from Aviva’s investment.
UK fintech Minted to launch in July with 2021 digital bank plans
The fintech is sharia-compliant and follows AAOIFI rules on gold.
The financially excluded – it’s not just who you think
In the UK, up to 8.8 million people are over-indebted.
Onfido takes UK one step closer to digital ID
The fintech’s sandbox is regulated by the FCA.
Revolut accused of coercing 50 workers to quit their jobs
Lawyers have said that the firm’s actions can be read as unlawful.
CaixaBank signs cloud management deal with IBM
The two firms have worked together since 2011.
UK e-commerce bank start-up YAN set to launch in October
The fintech says it will donate “at least” 10% of its revenue to charity.
Landesbank Berlin to develop commercial card programme with SIA
German bank will launch co-branded accounts using SIA platform.
