Revolut loses banking veteran CEO after one year to upstart Allica Bank
Davies says his departure is on good terms.
Europe
BaFin gets “sovereign powers” after Wirecard scandal
The plan will also strengthen APAS, the body that oversees auditing firms in Germany.
EC prepares changes to MiFID II research unbundling rules
EU body aims to boost economies by relaxing MiFID II rules.
Degussa Bank up for sale with 2021 deal expected
Frankfurt-based bank could worth up to €400 million.
NatWest deploys Synalogik Scout across multiple brands
NatWest, Royal Bank of Scotland, Ulster Bank, and Coutts are all to use Scout.
Phoenix Life aims to meet IFRS 17 with Oracle tech
Phoenix Life is an existing user of several Oracle systems.
Law firm owner co-founds challenger Frost rivalling Snoop
It is currently applying for a banking licence with the Financial Conduct Authority (FCA).
Report: The future of digital wealth management
A new FinTech Futures report examines the future of wealth management in a digital era.
Applications for FCA’s sixth regulatory sandbox drop more than 30%
Last year, the sandbox recieved a record 99 applications.
Home-backed loan provider Selina Finance lands £42m
Some £12 million of its Series A counts for equity, whilst the rest is debt.
Exclusive: Money20/20 Europe sponsors join forces to assess Amsterdam event options
Money20/20 Europe assures the physical event in Amsterdam is safe and ready to go ahead.
New UK fintech Flex founded by former Pockit employee
Flex promises money management and savings tips for users.
A2A payments set to threaten dominance of online card transactions
A2A payments could be an unintended beneficiary of SCA.
Investment service Scalable Capital lands $58m in Series D
The start-up says it has more than $2 billion under management on its platform.
ApoBank contracts auditors over ongoing IT transformation issues
Customers of the German bank have had issues connecting to their accounts since June
Quantexa raises $64.7m in Series C funding
The anti-fraud AI firm has raised $90m to date.
BNP Paribas joins IBM Cloud as European anchor client
French banking giant to become leading user of IBM’s cloud tech.
A look inside Barclays’ fintech accelerator Rise
FinTech Futures sits down with Magdalena Kron, who leads Rise London’s team.
Former Wirecard CEO Markus Braun arrested again
Jan Marsalek, the former COO, is wanted under an international arrest warrant.
Bueno bank aims to target Spanish holiday homeowners
Bueno promises a range of services to manage second homes.
Swift names Nick Kerigan as new head of innovation execution
Kerigan was previously the managing director for Future Payments at Barclaycard.
France’s central bank announces partner list for CBDC experiments
The bank says it will begin work in the “coming days”.
Lloyds partners with Form3 to create group-wide payments platform
The UK bank is acquiring an undisclosed minority equity stake in Form3.
Plum lands $10m for European expansion
To date, Plum has raised $19.3 million.
Accuity partners with Encompass to automate client KYC
Encompass technology implemented into Accuity’s Bankers Almanac solution.
Finastra and Microsoft extend cloud deal
The new deal is hailed as a “step change” in the pair’s relationship.
UK challenger The Reserve postpones launch due to COVID-19
The Reserve is built green “from inception”.
Virgin Money launches beta of new home buying app
The app is part of Virgin Money’s wider digital transformation strategy.
Lloyds commits to increase Black staff in senior roles
It employs 40 Black members of staff across its more than 7,000 strong senior exec team.
UK government launches review to boost fintech sector
The review intends to establish priority areas for industry, policy makers, and regulators.
Money manager for freelancers Flow lands Dutch PSD2 licence
The idea for Flow originated on an alpaca farm in Drenthe.
VTB Bank launches “robot factory”
It plans to introduce 60 digital employees by 2021 & 250 digital employees by the end of 2022.
Latvian regulator fines Signet Bank €906k for AML issues
FCMC fines Latvian private bank after on-site inspections.
Faroe Islands speed up ecommerce with Clearhaus and Terminal.fo
The Faroe Islands are “experiencing a boom in the number of online businesses”.
FCA confirms post-Brexit cooperation deals with EU regulators
UK watchdog says agreements remain “relevant and appropriate”.
From open banking to open finance
It’s only in 2020 that we see the quality, reliability, and range of APIs connecting to accounts that realise the regulators’ vision.
Report: Shareholder Rights Directive (SHRD) – the impact on securities processing
Creating an attractive environment for shareholders of exchange-listed companies in the EU and improving their corporate governance.
Deutsche Bank snags Wirecard exec Kilian Thalhammer
Thalhammer will be joining Deutsche Bank in October to oversee its Merchant Solutions arm.
UK savings app Moneybox lands £30m, plans crowdfund
Moneybox has raised £50 million since 2016.
FCA and City of London to create COVID-19 inspired digital sandbox
The sandbox will be for both start-ups and “large financial institutions”.
