B-North chooses Mambu and nCino for core technology
B-North is still awaiting a licence from the FCA.
Europe
Phoebus Software lands five-year deal with Equifinance
The lender wants a best-of-breed to grow.
Tally picks TruNarrative for onboarding and ID verification
The solution will help Tally’s compliance to industry requirements.
TSB and Square partner to boost payments for SMEs
TSB business banking customers will be sent a free Square Reader.
Trustly serves Alibaba’s European customers via Ingenico
Alibaba serves ten million buyers.
Australian share trading start-up to launch in UK
Stake has been granted a licence by the FCA.
Distributed compliance is the key to banks increasing CDD and KYC challenges
We must we re-imagine risk management and compliance.
Ethical investment platform Yielder completes Series A funding round
Yielders has set its sights on securing licenses in Pan-Asia and the GCC.
EQT will raise at least €500m in IPO
EQT is the world’s seventh largest private equity fund.
Fintech start-up Byhiras chosen for UK pension solution
The solution will be used by all UK LGPS pension funds by Q1 2020.
Danske reported to police over investment mis-selling
The Danish regulator says Danske broke investor protection rules.
Chairmans Financial rescues Ipagoo from administration
Chairmans plans to buy 100% of Ipagoo and some assets from its parent software company.
Zip acquires PartPay for $50m
The Aussie credit card company has also purchased an equity interest in QuadPay.
Top fintech stories this week – 30 August 2019
Catch up on FinTech Futures’ top five fintech stories of the week – all in one place!
DSK Bank fined for data breach affecting over 33,000 clients
The breach exposed full names, addresses, copies of ID cards, bank account numbers and property deed data.
EWPN and EPA collaborate on boosting equality in the finserv industry
EPA’s report shows 57% of those surveyed have personally experienced gender discrimination.
Fujitsu collaborates with Commerzbank on securitisation project
“No longer any need to wait for commercial viability of true quantum computers.”
PPI-type scandals could return warns banking regulator
“When things get desperate, banks tend to take more risk.”
Carlsberg Bank – probably the best digital bank in the world
Banks need to identify new segments and go beyond banking
Big gains in the cloud, especially for small banks
But will putting our data in the cloud put our data at risk?
Challenger investment firm founder launches legal action against UK PM Boris Johnson
SCM Direct founding partner, Gina Miller, takes the Brexit battle to court once again.
Link reveals plan to protect free ATMs
The pilot scheme starts with the Scottish town of Durness.
Raisin completes takeover of MHB-Bank
It is the first fintech in Germany to buy a bank.
Temenos acquires Kony for $559m
The transaction is due to be completed by early Q4 2019.
LeasePlan migrates to Ohpen’s core banking system
Nearly one million Dutch and German savings accounts moved to new cloud-based system.
RBS and NatWest websites’ problems fixed – for now
Both sites have been showing a 502 Bad Gateway error.
Platform9 targets global growth with $25m funding
The firm helps companies run cloud-native infrastructure at scale.
Cybersecurity start-up Axonius closes $20m Series B
This was the firm’s second fundraise of the year.
Empaxis teams with InvestCloud to launch TAMP1
The platform is designed for small to medium-sized investment managers.
Why should banks and fintechs work together?
Partnering up with fintechs and leveraging their agility and technological edge is what will keep banks relevant.
Digital assets focused SEBA receives Swiss banking licence
It is being hailed as a milestone for the blockchain and digital asset economy.
Insurtech Hedvig raises €10.3m
The funding values the company at SEK342 million ($35.5 million).
Schroders Personal Wealth troubled by IT issues
The launch of the joint venture between Lloyds and Schroders have prompted widespread complaints from staff.
Doing smarter, cleaner business: The analytics potential of trade data
Banks’ data-rich future should not begin and end with trade flows.
Credit Suisse to focus on digital banking
“Maintaining the status quo was not an option.”
Raisin to offer pensions with acquisition of Fairr
It will be the first online marketplace to offer savings, investments and pensions.
Members-only rewards club CRED raises $120m
The club offers benefits for those with high credit scores.
PAI acquires Eclipse Cash Systems
The deal takes PAI’s network to over 90,000 ATMs.
CaixaBank to release biodegradable cards
The bank will roll out150,000 of the cards each year.
Telia and OP Financial test facial recognition payment
The pair installed Finnish firm Pivo’s technology in an ice cream truck.
