Fifth Third Bank plans 1,000 new roles for COVID-19 jobless
The US bank is hiring across retail banking, mortgages, and operations.
North America
Consumer fintech SoFi to acquire Galileo for $1.2 billion
Both CEOs say now is “the right time” for this deal.
IBM names former Bank of America exec as new cloud head
Howard Boville steps in as Arvind Krishna takes over from chief Ginni Rometty.
Paul Cormier steps in as new Red Hat CEO
Cormier replaces Jim Whitehurst, who moved to parent company IBM.
Coronavirus exposes gaps in innovation
The pandemic has given fintechs a time to shine.
Will fintech CEOs follow in the footsteps of Dan Price post-coronavirus?
Monzo and Moven’s CEOs have both taken a 100% pay cut.
Liberty National Bank signs up Teslar to boost commercial lending
The Oklahoma-based bank aims to stand out from the crowd.
Transforming corporate treasury: What lies ahead and what is the impact of Swift gpi?
For many years multinationals and others have struggled with cross-border payments.
What the Fintech? Episode 2 | COVID-19: Is cash still king?
Find out Nick Kerigan’s take on the impact of COVID-19 and his banned buzzword.
Dwolla appoints Brady Harris as new CEO
Harris says he is looking forward to working with “an incredible team.”
LA challenger bank HMBradley launches to tap savers
The bank says it will offer up to a 3% return rate on deposits.
Digital app One selects Finxact core banking system
New digital player to deploy Finxact on the cloud.
Nymbus launches loan processing system for US banks to deliver COVID-19 relief
Nymbus says it has digitised the entire Paycheck Protection Programme (PPP) loan process.
Plaid and Microsoft partner to turn Excel into a fintech app
“One of the earliest forms of ‘fintech’ is a budgeting spreadsheet,” says Plaid.
CRIF to buy AI fintech Strands
The deal is expected to close in the “coming weeks”.
Colorado National Bank rebrands to Transact Bank and goes live with Fiserv
CNB was bought by the owners of Latvian fintech Transact Pro in 2018.
Jumio helps US sectors battling coronavirus verify users for free
Organisations “involved in helping students, patients and vulnerable populations” can apply.
Cash flow firm Plastiq raises $75m in Series D funding round
Plastiq has raised more than $140m in funding since its founding in 2012.
Patch Homes rebrands to Noah & offers assistance for homeowners
It’s offering all new customers $1,000 at closing and waiving fees for existing customers.
US Fed Reserve & ECB ramp up bond buying to steady markets
Fed pledged to buy unlimited amount whilst ECB eyes up €750bn additional bonds.
Canadian financial planner Finally to launch in May
“People don’t want to tell strangers how bad they’re doing with their finances,” says founder.
Moven shuts all consumer accounts, pivots to B2B-only service for banks
Founder says “major multi-year funding” was withdrawn due to coronavirus.
Brex acquires trio of San Francisco start-ups
Neji, Landria, and Compose Labs all brought under the Brex umbrella
Draft coronavirus stimulus bill considers ‘digital dollar’ to help unbanked
House Democrats have drafted a bill which, if enacted, would create a ‘digital dollar’.
US non-bank financial firms push Congress for SME lending relief
Legislators are currently working on a bill which addresses small business loans.
Revolut heads stateside with US launch
The London-based unicorn expands to North America.
National Bank of Canada migrates Murex system to Amazon Web Services
Major Canadian bank shifts MX.3 to the Amazon cloud.
Finastra brings servers back online after ransomware attack
“A bad-actor was attempting to introduce malware into our network,” says firm.
Goldman Sachs becomes part of SAP’s Ariba Network
More than 4.6 million companies make up the Ariba Network.
HSBC’s $6bn structural overhaul under threat from COVID-19
The global bank may have to delay its plans if the contagion becomes a long-term issue.
Appian unveils software to help banks operate amid coronavirus outbreak
The application is only available to companies with more than 1,000 employees.
Fiserv acquires POS partner Bypass Mobile
The two firms will work on new “purchasing experiences”
WorldRemit teams up with Paykii
It will launch international bill payments through its own app/website using Paykii’s tech.
Square lands conditional banking licence from FDIC
The bank will be based in Utah.
Will regulators make an example of trading unicorn Robinhood?
“We don’t think they were set up to do it properly,” says class action lawyer.
Neobank for America’s middle-class One lands $17m Series A
The 40-person challenger has opened early access to its private beta.
US challenger Cogni to create lifestyle hub, starting with banking
The challenger wants to be the ultimate “operating system” for lifestyle.
Swift’s ISO 20022 migration set back a year to November 2022
“The new approach will avoid short-lived investments by customers,” says Swift.
US Bank connects customers with Fiserv data solution
API-based service to aggregate US Bank customers’ data.
Travelex owner Finablr prepares for insolvency
Finablr processed $115 billion in transactions in 2019, and more than 1,500 firms rely on it.
