Banks’ rapid digitalisation leaving compliance teams in “no man’s land”
Regulators need to understand the challenges facing compliance teams.
UK
AmEx and Amazon launch co-branded credit cards for UK SMEs
The programme targets businesses with less than $10 million in annual revenue.
Jobs of the week: four exciting fintech roles you can apply for right now
FinTech Futures Jobs: featuring vacancies at Monzo, OakNorth, BNY Mellon and more!
Agricultural bank Oxbury picks Naqoda for core banking
Cloud-based vendor gains pioneer partner in the UK.
Open banking usage numbers hit two million in UK for big nine
“The headline number is only one part of the story,” says TrueLayer VP.
Trio of European start-ups raise fresh funding
Factris, KodyPay, and Swan all complete funding rounds this week.
NatWest to offer customers CO2 calculator with fintech CoGo
The bank recently found 70% of its customers are concerned about climate change.
Crypto exchange Gemini launches in UK armed with EMI licence
UK customers can now make GBP deposits to fund their Gemini account.
Revolut’s four-year-long partnerships head Rishi Stocker departs
Stocker spearheaded Revolut’s Japan launch.
Mode CCO: Alipay success can be replicated in the UK
With an IPO looming, Mode has got a busy year of business ahead of it.
Tech Nation’s third fintech cohort challenges London bubble
“What was striking is the increase of such businesses set up outside London and by women.”
CloudMargin raises $15m Series B from Citi and Deutsche Bank
Investors say high market volatility has highlighted the need for such CloudMargin’s platform
UK challenger Kale99 launches to provide digital banking with a CX twist
New fintech aims to copy the rapid growth of its vegetational namesake.
Thought Machine lands ex-HSBC exec Andy Maguire as chairman
The appointment is yet to be announced officially.
Gaming friendly challenger Xace lands FCA licence
The start-up is active in both the UK and wider Europe.
TrueLayer raises $25 million in Series C funding round
New injection brings TrueLayer’s total raised to $72 million.
UK challenger Samie to launch in 2025
The start-up claims it hit the 500,000 future customer mark in mid-2019.
Black-led UK challenger Atmen is raising half a million
The fintech will launch within six to eight weeks of closing its crowdfund.
ClearBank offers multi-currency accounts through JP Morgan API
UK clearing bank claims to be the first of its kind to provide the service.
Tink snaps up UK rival OpenWrks’ aggregation platform
The deal is part acquisition, part strategic.
Allica Bank plans £100m funding round after £26m injection
UK challenger plans for future growth and acquisitions.
FCA calls for input on retail investment sector “not working as it should”
UK regulator wants input on how better to regulate the sector.
UK fintech Funding Xchange lands $10m in Series A funding round
The fitnech last raised funds in November 2019.
Tesco Bank launches Pay by Bank in partnership with Mastercard
UK bank rolls out new service to 2.6 million customers.
Fraudsters rake in £58m during COVID-19 by impersonating banks
Impersonation scams have risen 84% in 2020.
Emirates NBD deploys new payments hub with TCS Bancs
The UAE bank goes live on TCS Bancs after kicking off the project in 2019.
FCA shuts down half its money-laundering investigations in 2020
It stopped seven of the 14 investigations into money laundering since January.
Five major UK banks sign up to Tech Nation’s collaborative “Fintech Pledge”
The pledge rests heavily on banks sharing more information.
Glint launches P2P service months after takeover saga
The gold wallet has launched a new service amid claims of a string of record months.
Supplement: FinovateFall 2020
Read our free FinovateFall Supplement, packed with fintech goodness!
Chip breaks crowdfunding records to raise £10m in 48 hours
6,420 investors participated in funding backed by the Future Fund.
European Commission resumes LSE-Refinitiv antitrust probe
The EC had paused proceedings in July as it waited for data.
Nedbank Private Wealth appoints Chris Kirk as new chief risk officer
Chris M Kirk joins the firm to support its international growth.
Refinitiv and Microsoft agree on Azure partnership
Microsoft’s flagship cloud platform to support Refinitiv going forward.
Hungarian fintech PeasyPay continues hand and face payment roll out
In the UK, the start-up is working with taxi drivers in Glasgow.
Fintech Mode joins Hut Group wave with London IPO listing
Mode anticipates a valuation of around £40 million.
GoCardless bags new chief revenue officer to tap enterprise space
The fintech is currently drawing back its growth to preserve cash.
Metro Bank unveils new “15 minute onboarding” for SMEs
The bank’s new online journey auto-populates business data.
HMRC reveals £3.5bn in furlough payments sent in error
Around 5-10% of the scheme’s payouts have been made in error, says government body.
UK Finance scheme stops £19m of fraud in 2020
The Banking Protocol teams up police and bank staff to stop fraudsters in branches.
