The rise of P2P FX
P2P initiatives aimed at helping corporates transact more efficiently will continue to gain traction.
Europe
Revolut lets staff swap pay for shares in the challenger bank
Revolut’s co-founders Storonsky and Yatsenko are forgoing their salaries for a year.
Castle Trust signs DPR for savings origination tech
Castle Trust aims to be a new challenger bank in the UK market.
More than 275 accountancy firms ask UK government to plug gaps in SME aid
“Entrepreneurs face their business being crushed,” says the letter.
Meniga and Worldline strike digital banking partnership
The two firms aim to combine conversational banking with data analytics.
Santander’s money transfer fintech PagoFX launches in UK
Fees will not be incurred until 16 June 2020 for transactions under £3,000.
Tide launches Coronavirus Government Support Eligibility Checker
Its aim is to help SMEs get access to the financial aid during this time of crisis.
ThoughtSpot CEO: “We haven’t seen any cutbacks” due to our automation in banks
The banks ThoughtSpot works with are hiring more people to power its automation.
Identity verification platform Onfido bags $100m from TPG
The start-up wants to create an alternative “identity verification” layer for the internet
Avaloq extends Actico partnership to integrate compliance tech
Swiss technology vendor to embed compliance solution into its platforms.
Previse bags $11m from Mastercard and Reefknot Investments
In the next five years, Previse wants to get five million suppliers paid instantly.
VibePay opens up APIs to SMEs, lands £1.25m funding
Originally planned for Q3 of 2020, the fintech brought the launch forward
Credit Kudos lands £5m Series A ahead of FCA’s credit market study
The capital raise was led by AlbionVC.
CaixaBank and Global Payments create prepaid card under MoneyToPay brand
Global Payment’s Netspend president Kelley Knutson will head up the venture.
Big data fintech GeoDB bags £1.37m from Seedrs investors
The UK fintech combines big data, blockchain and crypto into ‘Big – Crypto’.
OakNorth bags Modern Bank as second US customer
Modern Bank is a delegated lender under the CARES Act.
Four new UK lenders get approved to issue coronavirus business loans
These lenders are yet to set a date by which they can start accepting CBILS applications.
Finantix finalises acquisition of Swiss AI firm InCube
InCube will be brought into the wider Finantix portfolio.
UK fintech Phos raises €1.3m
The round was led by New Vision 3, an early-stage VC based in Bulgaria.
Nordea helps suppliers to get paid early amid coronavirus
Suppliers will benefit from “several hundred million euros” early.
Barclays’ top bosses give up a third of their paychecks for six months
Donations by all three executives will also be matched by the bank.
7Q Financial Services goes live with Profile Software’s Axia
Cyprus-based investment house deploys Profile’s wealthtech.
Minna Technologies pilots subscription management for RBI’s Tatra banka
The pilot is part of RBI’s ‘Elevator Lab Programme’.
2020 Review: Top 10 funding rounds this quarter
A look back at some of the biggest investments this past quarter.
Fintech can’t tackle financial services without tackling its diversity problem
Not only was the gender homogeneity disheartening, it’s also a serious problem.
Top 10 coronavirus initiatives by fintechs
Many fintechs have used this pandemic as an opportunity to show their mettle.
Top 10 coronavirus initiatives by governments and regulators
A brief overview of how governments and financial regulators have reacted to coronavirus.
Cultivate investor platform aims for Silicon Valley in Europe
The new platform founded has been created by venture firm Blossom Capital.
French markets regulator backs extension of short-selling ban
“I would probably be in favour of extending [the ban],” says chairman of the AMF.
RBS axes 130 jobs from investment banking arm despite coronavirus uncertainty
Trade unions have criticised RBS’ choice to lay off workers amid the crisis.
Visa pours $210m into the coronavirus effort to help SMEs
Visa will split the money between NGOs and investment partners.
Starling Bank launches “spare” debit card feature to help those self-isolating
The ‘Connected Card’ gives someone else the ability to spend on their behalf.
Fintech Neat lands $11m to help SMEs trade between Asia-Pacific and Europe
The fintech landed Visa as an investor and new card partner.
US-based Customers Bank adopts OakNorth’s lending platform
The US bank holds $11.5 billion in assets.
What would a coronavirus start-up aid package mean for UK fintech?
Coronavirus could “wipe out a generation of start-ups”, says one fintech founder.
UK challenger bank Neuros to offer money management for neurodiverse users
The founder discovered she had ADHD whilst building the bank.
EPA considers relaxing chargeback rules amid coronavirus
One EPA member has seen a spike of 14% in chargebacks from UK/ Europe-based merchants.
Privitar raises $80m in Series C featuring ABN Amro
The latest funding round brings London-based Privitar’s total raised up to $143 million.
Funding Options plugs into open banking with 20 lenders
The firm wants to cut down loan decisioning times amid coronavirus urgency.
Curve launches numberless cards for new investors
Fintech claims that it has decluttered its “sleek” new cards.
