Mastercard promotes UK president Barnett to EU role
Barnett is expected to join the management committee on 1 June.
Europe
Revolut launches deposit-insured bank in Lithuania
Revolut says it also plans to roll out consumer lending services to the region.
NatWest extends 7-year Artesian contract
The vendor will continue to provide its customer insights and relationship systems.
Monzo appoints Sujata Bhatia as its new COO
Prior to Monzo, Bhatia spent almost 16 years at American Express.
Embark buys Zurich’s UK retail and investment management business
The move is part of Embark’s effort to build its presence in the UK retirement/savings sector.
India’s FSS helps Fair Play deliver online payment acquiring
Fair Play is deploying FFS’ Payment Gateway and Merchant Hub.
FCA extends SCA deadline for merchants by six months
The new timeline is 14 September 2021.
Leon Muis of YTS: “Open banking paves the way for open finance & open data”
Yolt’s chief business officer unpacks his thoughts on Brexit & the future of finance.
RBS closes digital bank Bó six months after launch
Customers will be given a notice of “at least” 60 days before their accounts are closed.
TransFICC lands £5.75m from AlbionVC, ING and HSBC
Existing backers inlude Citi and Commerzbank.
Car service financing fintech ASF lands £14m despite production slow down
The investment comes after UK car production dipped by more than a third last month.
Contactless payments are up but UK still withdrawing £1bn a week from ATMs
The average value being withdrawn has gone up from £65 to £82.
Tide picks Mambu to power credit facilities and overdrafts
Tide is revamping its customer offerings and adding new functionality with Mambu.
Hungary’s central bank unveils first fintech report
The report recorded 110 domestic fintech companies as of 2018.
UK fintech Cash Coach set to gamify savings launches on app stores
The fintech will now look to raise up to £400,000 on Crowdcube.
KPMG’s Wirecard audit fails to verify payments processing profits
Six-month investigation into the German firm encounters stumbling blocks.
Santander finalises £350m deal for majority share of Ebury
The Spanish bank purchased a 50.1% stake in the international payments and FX firm.
Revolut seeks help applying for UK banking licence & loses four more execs
Revolut’s goals remain the same, despite coronavirus.
EU payments bodies call for further SCA delay
An open letter sent to the EBA recommends a June 2021 deadline.
Hanley Economic Building Society seeks technology refresh with DPR
The building society refits 25-year-old core systems.
NatWest Markets selects Dataiku for self-service analytics and machine learning
Investment banking firm seeks to improve customer experience and improve efficiency.
Bankers blindsided by £50K loan limit under UK bounce back scheme
Senior bankers had worked over the weekend on the basis that the ceiling would be £25k.
Travelex founder invests £3m in ex-Virgin Money exec venture Snoop
Dorfman joins fellow shareholder in Snoop, Salesforce Ventures.
Open banking will rival the spreadsheet in accountancy, says roundtable
“It will give firms what they’ve longed for – real-time understanding of the figures.”
UK offers 100% government backed loans, but alternative lenders still fenced out
Funding Options says HM Treasury should “embrace the full ecosystem of lenders” in the SME sector.
HSBC freezes redundancy plans as COVID-19 hits $6bn overhaul
London-headquartered bank releases Q1 earnings with stark warning for Europe.
Deutsche Bank signs 2028 contract extension for Avaloq tech
Swiss vendor will provide BPO services foe Deutsche until 2028.
Iress integrates with Knowledge Bank’s mortgage criteria search engine
Brokers will be able to access lender criteria all in one place.
US banks roll back lending to European companies
“We are increasingly observing an ‘America first’ attitude among large US banks.”
Russia’s VTB set to expand C2C to 160 corridors by Q3
Currently its C2C service is available in 20 countries.
Paysafe partners with Gala Technology to open SOTpay channel
The two firms will work on enabling more transactions for merchants.
Anyday and Clearhaus to take on payment giants in Norway and Spain
“We’re ready to take on the giants,” says Anyday’s CEO.
NatWest taps Lloyds exec Jen Tippin for chief transformation role
The new hire is set to go through in late 2020 following regulatory approval.
Northern Trust hires Alison Pain as new EMEA CTO
Pain joins from Deutsche Bank and will lead Northern Trust’s EMEA tech ops.
British Business Bank approves another four lenders for CBILS
These new joiners can lend between £10,000 and £5 million to small businesses.
Capital on Tap integrates TrueLayer to boost SME lending service
Capital on Tap has also created new services to aid COVID-affected businesses.
Revolut loses two more financial execs a month after losing CFO
Both leave the bank after 12-month tenures.
Tradeteq to develop quantum-based credit scoring with Singapore university
The project is backed by the Monetary Authority of Singapore (MAS).
FSB consults on effective practices for cyber incident response and recovery
The FSB welcomes responses to the questions set out in the consultation by 20 July 2020.
Chip raises UK’s ‘largest’ lockdown equity crowdfund on Crowdcube
Chip managed to raise £2.6 million from 4,240 investors.
