EY sued over Wirecard audit after management board comes under investigation
German regulator alleges Wirecard gave “misleading signals” for its stock market price.
Germany
Landesbank Berlin to develop commercial card programme with SIA
German bank will launch co-branded accounts using SIA platform.
Mambu snaps up MD for North America arm from Finastra
Johanna Pugh spent four years at core banking provider Finastra.
KfW completes multi-year deployment of FIS Ambit Focus
German state-owned development bank KfW has completed a multi-year implementation project with FIS. The bank chose the FIS Ambit Focus asset and liability management platform for its market and liquidity risk controlling. According to FIS, the new solution provides the bank with a central data source for measuring, monitoring and reporting on market and liquidity […]
Raisin launches deposit solutions for US banks and credit unions
The fintech wants to help US retail banks offer personalisation.
Anquan Capital partners with crypto arm of Germany’s WEG Bank
The partnership includes an undisclosed investment from Anquan.
Deutsche Bank resumes job cuts during coronavirus
“We decided to further accelerate our cost reduction program,” says CEO.
Fidor Bank loses O2 mobile banking contract
The contract began back in 2016.
N26 lays off 10% of New York-based workforce
The losses are the first to be put down to operational reasons.
N26 extends Series D a second time for $100m raise
The challenger’s Series D round totals to more than half a billion.
Looking beyond the coronavirus trading boom
Some trading apps see their future in the saving market.
Trade Republic lands $62m in Series B funding
German firm secures one of the largest Series B funding rounds the region has ever seen.
Wirecard, SAP and Futur/io launch ‘Innovation Now’ to assist merchants amid COVID-19
Merchants will be able to find “assistance packages” through the platform.
N26 expects 70% of bank branches to disappear in 10 years
The coronavirus is accelerating a permanent change in consumer behaviour, says N26.
Penta lands $20.3m to help German and Italian SME
The round was co-led by RTP Global and HV Holtzbrinck Ventures.
Expense management start-up Payhawk lands $3.3m seed capital
The round was led by N26-backer Earlybird.
Wirecard strikes again with Klarna payments partnership
Also this week, Wirecard teamed with Southeast Asian ride-sharing firm Grab.
Funding Circle plans to cut 125 jobs in Berlin and Amsterdam
P2P firm reacts to poor year in external markets by cutting back.
Santander’s PagoFX to launch in Spring and rival TransferWise
The venture now has a 50-person London-based team.
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.
Small business lender iwoca raises €100m for German loan growth
The company says it is the largest fintech small business lender in Germany.
Banking Circle nabs first banking licence from Luxembourg regulators
Banking Circle’s operation centers in the UK, Germany and Denmark will turn into bank branches.
Wematch hosts “first fully electronic” Eurex-LCH basis swap trade
The swap was piloted between Societe Generale and LBBW.
Opel Bank becomes first European lender to pick FIS Modern Banking Platform
FIS follows up its Union Bank deal with a new partner in Germany.
German challenger N26 pulls out of UK ‘over Brexit’
N26 has been operating under “passporting” rules since October 2018.
Receeve raises €4m in seed funding
This comes within a year of a pre-seed fundraise of €1 million from Seedcamp and others.
FinovateEurope 2020: what’s new?
Big changes are coming to Finovate!
Berlin-based insurtech Wefox raises $110m Series B extension
The CEO puts success down to its technical understanding of risk.
Deutsche Bank plans €100m streamlining project for retail ops
German lender continues its dramatic savings plan.
Italy’s largest bank UniCredit to cut 8,000 jobs by 2023 to reward shareholders
The bank wants to reach a 2023 revenue target of €19.3 billion.
German SME challenger Penta teams up with card reader SumUp to tap offline businesses
Penta is breaking out of its online-savvy customer niche.
US DOJ digs deeper into Deutsche role in Danske money laundering scandal
Deutsche officials were made aware that the scope of the DoJ probe had broadened.
Berlin’s Raisin partners with Credorax to offer its German users retail deposits
Raisin is the first – and currently the only – company to offer Credorax’s retail deposits.
N26 selects Eurobase Siena to manage its treasury operations
Siena will manage the treasury operations of N26’s 3.5 million customers.
How paytech helps the gaming world tap the under-banked populations
Paysafecard and G2 Esports reveal how paytech taps underbanked gamers.
Deutsche Bank already using robots as it gears up to cut 18,000 jobs
AI has “massively increased productivity” for the bank.
German bank association fires shots at Libra, calls on politicians and central banks for digital euro
The association wants a crypto led by European commercial banks and politicians.
IDnow gains $40m funding injection from Corsair Capital
Verification firm plans to use fresh cash to open new locations.
Islamic challenger bank insha launches in Germany
New entrant wants to place the daily life of a Muslim at the centre of its offering.
FCA should overhaul EMIR supervision, says ESMA review
FCA ranks bottom among six major EU competent authorities for EMIR data supervision.
