Swiss investment challenger FlowBank picks Temenos Transact
Temenos is set to deliver its system on a SaaS basis.
Europe
Former Barclays execs to launch challenger bank Pennyworth for UK’s “aspiring affluent”
The start-up promises impressive rates considering the current 0% interest climate.
Bulgaria’s Paynetics swoops in to buy part of Wirecard UK and Ireland
“Paynetics showed up as the white knight,” says Wirecard.
Crédit Agricole subsidiary Linxo unveils bank transfer payment solution
The solution is already connected to the main banks in France which have opened up their APIs.
Russia’s Tinkoff launches messenger service in its app
Tinkoff claims to have acquired 1.7 million new credit accounts since the beginning of this year.
Breaking down walls
FinTech Futures took this somber moment to sit with Keisha Bell at DTCC.
UK challenger Monument lands restricted banking licence
Monument has raised £20 million to date.
Sibos 2020: BNP Paribas chairman says COVID-19 “not a banking crisis”
The work of banks, regulators and governments has kept things calm, says Jean Lemierre.
Virgin Money slashes 400 jobs as it lands £35m government grant
The 400 job cuts are part of a forecast 16% reduction in Virgin Money’s headcount.
Nigerian fintech Lidya lends $3m to SMEs in Eastern Europe
The fintech start-up expanded into the region during the beginning of the COVID-19 lockdown.
UK Finance appoints David Postings as new CEO
Postings is an industry veteran, spending 25 years at Barclays and three at Lloyds.
Young Black lives in banking
The number of senior Black execs on Wall Street has remained under 3% for the past decade.
Banking Technology October 2020 issue out now
Educate, advocate, invest: It’s not enough for companies to pay lip service.
Sibos 2020: ING’s CEO urges regulators to give banks a PSD2 equivalent
Van Rijswijk is “strongly advocat[ing]” that regulators come up with an equivalent for banks.
Sibos 2020: Victoria Harverson, global head of business development at SmartStream Air
She discusses SmartStream’s AI solution for data processing.
Sibos 2020: Søren Skov Mogensen, chief growth officer at Banking Circle
He discusses the firm’s recent research.
FinTech Scotland on hunt for new CEO
The industry organisation was formed with the help of Lloyds and HSBC back in 2018.
FCA to ban the sale of crypto-derivatives to retail customers
UK regulator aims to clamp down on products “ill-suited” to the public.
Sibos 2020: Industry has widespread “dissatisfaction” with transaction monitoring
Costs, compliance and confusion need to be solved by new technology, says panel.
Seedrs reveals £4.6m losses day after Crowdcube merger
Crowdcube’s acquisition of Seedrs is set to create a £140 million equity crowdfunding player.
Japan’s NEC buys Swiss core banking firm Avaloq in $2.2bn deal
Major investor Warburg Pincus currently owns 45% of Avaloq.
Malta-based Oney Insurance picks Comarch’s business intelligence tech
The project encompasses building an insurance-specific data warehouse, based on Comarch’s cloud BI solution.
Nexi and SIA seal €15bn mega-merger to form “Europe’s largest” payments provider
The two have around two million merchants, and around 120 million cards.
Starling Bank launches online portal due to “customer demand”
Balance updates, standing order controls, and savings goals come as standard.
Sticking their necks out
Until now, no established, Black-owned, UK-founded bank has existed.
B-North raises £1m in ongoing Series A funding round
Manchester-based firm plans full launch for later this year.
Monese picks Thought Machine’s Vault to revamp core banking systems
Monese picks Thought Machine’s Vault to revamp core banking systems.
Welsh neobank Chetwood Financial unveils second lending product
Newly launched BetterBorrow is targeting “a slightly better credit mix” than LiveLend.
UK mortgages & savings: witnessing a digital transformation
There’s a clear demand in the UK market for a proven technology provider.
Daily News at Sibos 2020
Download your free copy of the Sibos supplement today!
Sibos 2020: Banking Circle launches POBO and COBO payments transparency solutions
The solutions are available globally through Swift, Faster Payments, CHAPS, SEPA and local clearing.
French firm Idemia launches green cards for banks
“We’re now trying to change the paradigm to reusable tech,” says Barrot.
Barclays appoints Taalib Shaah as new group CRO
Shaah joins from the bank’s international division.
French lendtech October raises €258m
€200 million of investment is headed towards Italian firms alone.
Does Europe really need its own Big Tech?
Almost a third of consumers find the idea of banking with a Big Tech appealing.
A sector ready for change
The Black community has been fighting for change for many years, often falling on deaf ears.
Banks’ rapid digitalisation leaving compliance teams in “no man’s land”
Regulators need to understand the challenges facing compliance teams.
ING consolidates innovation arms into ING Neo, Legrand to step down
ING’s Annerie Vreugdenhil is set to head up ING Neo come January 2021.
Wirecard operations cease in Singapore, MAS slaps down more charges
Wirecard SG needs to return all customer funds within the next two weeks.
Can financial technology help reduce inequality?
Decisions made by algorithms can have a detrimental effect on people’s lives.
