ID Finance crowdfunds £1.5m in minutes, eyes up Hispanic and Latino loan market
ID Finance is on track to double revenues to €90m this year.
North America
Calastone takes on ex-BNY Mellon exec Dan Kramer for US expansion
Kramer managed end-to-end customer experience at BNY Mellon.
FinovateFall 2019 in pictures
There was so much to take in over the three days!
Uwharrie Bank chooses Fiserv’s DNA core platform
The bank has also added card services.
UK cybersecurity firm Sophos bought by America’s Thoma Bravo for $3.8bn
Sophos houses more than 3,400 staff and a turnover of $710.6 million.
Libra’s woes continue as Booking Holdings departs
The association has now lost 25% of its membership.
Brazilian fintech Nubank’s user base soars to 15 million
The fintech has reached decacorn status with a $10 billion valuation.
US regulators remind FIs of AML obligations for digital assets
The CFTC, SEC and FinCEN point to AML/CFT requirements for digital assets.
Libra: Already a victim of fraud
According to the Facebook model, you steal a little and they bank the ad revenue.
HSBC takes on digital challengers with First Direct overhaul
The telephone-based brand is looking at AI and in-app technology.
Facebook’s Libra suffers additional regulatory scrutiny
FSB & G7 leaders believe it should halt operations until legal oversight is completed.
Mastercard, Visa, eBay and Stripe follow PayPal’s suit and leave Facebook’s Libra
Facebook’s hopes of a global cryptocurrency are hanging in the balance.
FundRock appoints Lee Marshall as CTO
He joins from MasonBower, with previous experience from KNEIP and JP Morgan.
Video: Top fintech stories this week – 11 October 2019
FinTech Future’s weekly news round-up.
Federal Reserve shelves tougher liquidity rules for foreign banks
Minimum level of liquid assets not required by US branches.
Branch launches free checking account and debit card for hourly workers
The fintech wants to increase financial stability in the US.
FinovateFall 2019: PFM is making a comeback
The energy in the room was palpable, and all aspects of the financial technology community were on display.
Credit Suisse mulls return to US private banking to serve LatAm’s wealthiest
The bank is looking to add $15 billion in assets to a new Miami base.
Amex admits to data breach from employee trying to commit fraud
Card numbers and social security numbers were compromised.
Pendleton Community Bank signs Teslar Software for automation
West Virginian bank needed new tech following merger.
Federal Reserve signs off on Volcker Rule simplification
“Volcker 2.0” to go live in January 2020.
Swift to expand its gpi into securities and FX transactions
Swift predicts the world too will take this holistic approach to gpi.
Vista Equity Partners mulls Finastra sale
Private equity firm could jettison 50% of tech firm
AI: Understanding bias and opportunities in financial services
In this two-part series, Nadia Sood explores the issues with AI constructs.
Ripple inks blockchain partnership with Finastra
Finastra brings blockchain to its payments solutions.
Standard Chartered Bank tackles reporting restrictions with BearingPoint
The new solution covers more than 130 jurisdictions.
Fintech lender StreetShares partners with America’s rural Farm Bureau Bank
The lendtech gives SMEs a decision in minutes and funding within 24 hours.
Decentralised vs centralised exchanges: a comparative analysis
Crypto is not about rolling the dice but it’s about making tough decisions.
ACS19: Bank execs need cybersecurity safe space
90% of breaches at firms are still attributed to employees clicking on phishing emails.
PayExpo 2019: Monzo COO not so sure it needed to be a bank for its success
His reasons boil down to expensive, slow and heavy hoops since its licence.
Takeaways from FinovateFall 2019: shiny objects vs problem solvers
Bankers and tech experts share their views on the recent Finovate event in NY.
Wallets – the flexible way for banks to maintain competitive advantage
Mobile wallets for payments and loyalty provide the perfect weapon for banks seeking to fight off competition.
UK fintech Kantox partners with Citi Bank for FX solution
Kantox will deliver a “customised solution” for the bank’s FX clients.
FSB investigating the regulatory potential of stablecoins
Emerging scale could pose challenges, says FSB chair
CoinCorner CEO: Mark Cuban “naÏve and short sighted” about bitcoin
Cuban says he prefers bananas to Bitcoin.
National Bank of Canada goes live with Murex’s MX.3 Risk and Regulatory Suite
Bank aims to meet future FRTB obligations.
HSBC plans 10,000 job cuts in fresh cost-saving exercise
Global bank plans to cull high-paid roles.
FinovateFall 2019: AI, ML, robotics and digital first
Three exciting days in New York witnessing the latest and greatest from over 70 fintechs.
Facebook’s Libra creating a shadow banking system, say US banks
US banks reckon Libra poses a threat to national monetary policy.
The challenges for banks and fintechs when building a partnership
Chris Ward, author at Mapa research, dissects the changing definition of ‘partnerships’ in fintech.
