Tandem lands funding, tipped to buy “green” lender
The bank is set to announce “the acquisition of an established ‘green’ lending business”.
Europe
SIX picks Know Your Customer to support supplier risk calculations
Maintaining due diligence on market participants a high priority for SIX.
PFM app Bean shuts down 15 months after BGL Group acquisition
Bean no longer accepting new sign-ups and set to close later this month.
Aruba’s banks switch to instant payments with equensWorldline
The digitisation of payments has been “a challenging project” for the island.
“If you want it, go get it!”
Nancy Butler at B-North, shares her experience in banking this international women’s day.
Video: Top fintech stories this week – 06 March 2020
FinTech Futures’ weekly news round-up.
Money management app Emma bags $2.5m in seed funding
The fintech connects users’ bank accounts under a single dashboard.
Dutch fintech TerraPay gets acquired & raises $9.6m
“Fintechs like TerraPay play a vital role in increasing financial inclusion in emerging markets.”
Starling Bank amps up advertising efforts with Team GB win
The bank is offering every British athlete an account with £100 in credit.
Is the future of banking not open but closed?
Europe and USA have to create their own ecosystems to compete with the East.
Exclusive interview: Sarah Porretta, MaPS – UK’s ten-year journey towards financial wellbeing
Fintech will have a significant role to play in the UK government’s plan for the nation to achieve financial wellbeing.
Webinar: Investing in UK’s financial wellbeing strategy – 5 agents for change
Innovative ways to make financial wellness happen.
Barclays makes cuts affecting more than 1,000 staff
Technology and operations teams will be hit hardest.
Dzing challenger bank launches beta in UK
It has been in the works since October 2018.
China’s Ant Financial buys small stake in Swedish unicorn Klarna
Klarna is already embedded into Alibaba’s AliExpress.
Nationwide picks AutoRek for reconciliation and data management
AutoRek to help Nationwide “face into the future.”
Starling Bank looks to Irish banking licence for European expansion
The challenger bank has been aiming for an Irish licence since last year.
Samsung SDS and Credorax to launch DLT account reconciliation platform
The companies say the decision to team up was driven by open banking.
Opportunities for the long term
Bridging lenders have clearly grown in confidence about the outlook for the UK economy.
Digital Risks raises $10.4m in Series A funding round
SME insurance firms plans to triple its headcount in 2020
Refinitiv buys US wealth management fintech Scivantage
The deal amount is yet to be disclosed.
Santander’s PagoFX to launch in Spring and rival TransferWise
The venture now has a 50-person London-based team.
FCA warns Deutsche over repeated compliance failings
The bank’s tardiness in notifying affected clients and regulators led to concerns.
Allied Irish Banks sells remote ATM network to US-based Brink’s Company
Brink’s will deploy its Point Cash solution to the purchased machines.
NatWest CDO Frans Woelders set for Danske Bank move
Woelders will join former colleague Chris Vogelzang at the Danish banking group.
Broadridge completes FundsLibrary acquisition
Regtech firm to be incorporated into Broadridge FundAssist.
Nationwide leads race for £1.9bn Sainsbury’s Bank deal
An agreement had yet to be finalised but a transaction could be struck in the coming weeks.
Estonian start-up Xolo offers banking services with Wirecard Bank
Xolo is a “one-stop-shop” for one-person micro-businesses.
Belgian challenger Aion hires CIO, preps flagship branch
Subscription-only bank continues development after 2019 launch.
Video: Top fintech stories this week – 28 February 2020
FinTech Futures’ weekly news round-up.
PPRO gives Europe’s merchants access to Chinese shoppers with UnionPay
The Chinese ecommerce market is currently valued at more than $1 trillion.
UK paytech Checkout.com buys French start-up ProcessOut
Checkout.com buys another module in the payments process.
UniCredit finds two new partners in Tel Aviv’s PayKey and equensWorldline
PayKey is a social app payments integrator, and equensWorldline a pan-European payments processor.
Monese set to make 30 employees into millionaires
This is expected after its next fundraise which will value the neobank at £1bn.
Poland’s digital banking provider Efigence talks private over public cloud
“Banks don’t want to invest in infrastructure when they don’t need it,” says CTO.
bunq CEO: “It’s a marathon not a sprint, we run our own race”
“I like to think of myself as a simple entrepreneur,” says Niknam.
Metro Bank cuts two thirds of new branches and returns £50m to BCR
The bank is paying back £50m of its fund from BCR.
Open Banking home finance start-up Youtility raises £4.5 million
Venture funding round to be used on new products and new hires.
Lloyds, Virgin Money and Direct Line announce fresh job cuts
The three firms blame changing customer behaviour for the downsizing.
FCA data leak branded “embarrassment”, former CEO called for review
Regulator’s former CEO Andrew Bailey called out for “tsunami of failure”.
