Dzing challenger bank launches beta in UK
It has been in the works since October 2018.
UK
Nationwide picks AutoRek for reconciliation and data management
AutoRek to help Nationwide “face into the future.”
Opportunities for the long term
Bridging lenders have clearly grown in confidence about the outlook for the UK economy.
Digital Risks raises $10.4m in Series A funding round
SME insurance firms plans to triple its headcount in 2020
Refinitiv buys US wealth management fintech Scivantage
The deal amount is yet to be disclosed.
Santander’s PagoFX to launch in Spring and rival TransferWise
The venture now has a 50-person London-based team.
FCA warns Deutsche over repeated compliance failings
The bank’s tardiness in notifying affected clients and regulators led to concerns.
Nationwide leads race for £1.9bn Sainsbury’s Bank deal
An agreement had yet to be finalised but a transaction could be struck in the coming weeks.
Video: Top fintech stories this week – 28 February 2020
FinTech Futures’ weekly news round-up.
UK paytech Checkout.com buys French start-up ProcessOut
Checkout.com buys another module in the payments process.
Monese set to make 30 employees into millionaires
This is expected after its next fundraise which will value the neobank at £1bn.
bunq CEO: “It’s a marathon not a sprint, we run our own race”
“I like to think of myself as a simple entrepreneur,” says Niknam.
Metro Bank cuts two thirds of new branches and returns £50m to BCR
The bank is paying back £50m of its fund from BCR.
Open Banking home finance start-up Youtility raises £4.5 million
Venture funding round to be used on new products and new hires.
Lloyds, Virgin Money and Direct Line announce fresh job cuts
The three firms blame changing customer behaviour for the downsizing.
FCA data leak branded “embarrassment”, former CEO called for review
Regulator’s former CEO Andrew Bailey called out for “tsunami of failure”.
UK fintech B-Social raises £7.8m ahead of ‘Kroo’ rebrand
The fintech has “significantly progressed” with its pre-application for a UK bank licence
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.
ConsenSys-backed start-up Apex:E3 launches analytics platform
Initially focusing on digital assets, the fintech will branch out to more traditional asset classes in the future.
BBVA joins $1.3m round for UK gig economy start-up Wollit
It’s one of the first to evolve out of BBVA’s ‘Venture Creation Partnership’ with Anthemis.
Revolut bags $500m from TCV to drive daily account usage
The challenger wants to “accelerate daily usage of accounts”.
UK fintech global investor figures for 2019 propped up by Worldpay deal
88% of the figure is made up of the Worldpay mega deal.
Goldman Sachs-backed salary lender Neyber in talks with administrators
Neyber secured £100 million from Goldman Sachs in 2017.
SoftBank to invest $100m in UK-based AI start-up Behavox
Behavox’s investment would be the fifth Vision Fund capital injection for a UK firm.
JP Morgan plans launch of digital consumer bank in UK
The US bank has been in discussions with UK financial regulators.
Video: Top fintech stories this week – 21 February 2020
FinTech Futures’ weekly news round-up.
Lloyds profits drop as PPI legacy takes its toll
The bank has eight times more than expected for PPI claims.
EU report omits Big Tech GDPR decision, Google moves UK data to US
UK users’ data stored by Google is no longer under GDPR laws.
Barclays spies on staff, CEO investigated for Epstein links
The technology tells staff to mute their phones and avoid breaks.
UK’s new £20 note arrives as campaigners warn cash system could collapse
Access to Cash Review calls for new laws to protect cash as the digital revolution advances.
Standard Chartered commits $75bn to sustainable development
Infrastructure projects to get $40bn, whilst renewable energy and clean tech to get $35bn.
Inaccuracies of facial recognition: security, prejudice, pollution and fashion
The issue of accuracy is one which is often cited but rarely explained.
Aussie challenger Hay launched by UK’s Shawbrook Bank ex-employees
The challenger is headquartered in New South Wales with offices in London and Belfast.
FCA: Innovative fintech entrants putting some customers at risk
UK watchdog warns of customer risk exposure from flashy fintech firms.
Pay.UK processes £7.4 trillion worth of transactions in 2019
The payment operator saw 500 million more transactions in 2019 compared to 2018.
Moneybarn hit with £32.8m bill for not helping indebted customers
The firm did not treat customers fairly who had fallen into debt over a three year period.
Starling Bank lends through Zopa while it builds its own platform
The neobank currently holds £1.25 billion in deposits.
Monzo set to hire another 500 and reintroduce paid accounts
CEO Bloomfield says it is also looking into lending more as a revenue driver.
Standard Chartered sets up Singapore-based venture with Assembly Payments
The new payments venture is designed to help ecommerce merchants.
