Banking Technology September 2020 issue out now
Tipping point: Google vs Oracle showdown.
UK
UK crime agency criticised for inaction over alleged bank forgery
“You can’t ‘assess’ for 15 months.”
Ex-Starling CTO’s start-up Ziglu launches crypto P2P payments
Ziglu insures digital assets against cyberattacks.
Starling Bank announces account and CHAPS payment charges
The UK challenger announces new structure days after rival Monzo.
Back & middle-office disruptor LemonTree launches first product
The start-up is challenging clients to get up and running in 90 days.
EPA lands new CEO in ex-Informa exec
Agnew will combine both his business strategy and event management experience.
Form3, Countingup and PPS create new SME offering
The SME market contributes around £2 trillion a year to the UK economy.
Ohpen acquires cross-border mortgage vendor Davinci
Dutch technology firm plans international expansion with new suite of products.
MarketFinance raises £50m to support CBILS “last minute dash”
Business lender plans to help applicants squeeze in before September deadline.
First Direct nabs new CEO from HSBC
Pitt comes with nearly 11 years banking experience.
Visa loses risk head Peter Bayley after 17 years
At Visa, Bayley held a number of roles which steered the firm’s fraud and risk management.
Tandem Bank sunsets credit cards, plans core restructure
Tandem’s Cashback Credit Card will shut down in February 2021.
Vanquis Bank partners with NatWest’s Payit
Payit was built by London-based, RBS-backed fintech, Pollinate.
OakNorth appoints Raj Cherabuddi as VP of engineering
Former Teradata man to lead development of OakNorth’s credit platform.
Monzo introduces ATM withdrawal fees
Users may have to pay a fee when withdrawing upwards of £250 from an ATM.
UK government seeks open banking revamp for HMRC
New contract worth £3m tailored to automating payments processes.
UK government proposes digital ID cards, yet to unveil private partners
The potential of a government digital ID in the UK could impact the fintech industry.
Wells Fargo extends 25-year processing partnership with TSYS
US bank resigns for TSYS payments technology.
Singapore’s cross-border transfer fintech Nium lands EMI in UK
Nium evolved from a consumer remittance service to a B2B offering.
Cornerstone Brands plans acquisition of FXPress Payment Services
Men’s toiletries brand makes a move into payments.
Modulr is first non-bank to launch Confirmation of Payee
The second product launch by the fintech since its £10m grant.
Revolut customers got paid late last week after technical glitch
Several users said they couldn’t get through to an agent.
NerdWallet steps outside US, acquires UK’s Know Your Money
Know Your Money had some five million consumers and 1.2 million business clients in 2019.
Spanish sustainability fintech Mitto to launch in UK next year
“Every payment counts and determines the world we live in.”
Making Tax Digital policy changes explained
UK gov’s initiative, Making Tax Digital (MTD), aims to make tax administration simpler.
Fronted lands seed investment from Monzo-backer Passion Capital
Fronted wants to help renters finance their rental deposits.
UK savings app Chip plans Series A on back of 2020 growth
Chip has seen a 138% savings growth compared to 2019.
R8 relaunches as Mode, appoints ex-Alipay CEO Rita Liu as CCO
Mode is one of R8’s two entities.
Barclays snaps up JP Morgan’s head of ECM Europe
Esteve has been a managing director at JP Morgan’s ECM for the last 18 years.
Wesleyan Bank bags former TSB exec as digital head
The firm also hired a new chief financial officer in June.
Co-operative Bank plans 350 job cuts, 18 branch closures
The UK bank reacts to an increasingly online demand.
OakNorth Bank appoints Rajesh Gupta as new CFO
Current CFO Ochoa steps down to move closer to family.
FCA accused of rushing consultation to minimise own failings
The complaints commissioner criticises the timing and lack of promotion.
iwoca and Billon land funding via UK’s Future Fund
So far, the fund has invested in around 320 companies.
What the Fintech? Episode 12 | Transformers: more than meets the AI
Matt Sattler, head of HSBC’s innovation labs, reveals what it takes to secure a deal with the bank.
Zopa launches its first fixed-rate savings accounts
The range of accounts pay 1.05%, all the way up to 1.3%.
JP Morgan to launch digital lender in UK early next year
The new cloud-based venture will sit under the Chase brand.
UK watchdog green lights $5.3bn Visa-Plaid deal
CMA finds no competition issues with Visa’s mega-deal.
Atom Bank plans £150m shareholder funding round
UK challenger bank aims for largest shareholder round to date.
Pi1 signs card issuance partnership with Marqeta and TagNitecrest
Pi1 extends banking offering with new deal.
