RBS changes name to NatWest and appoints new Bó CEO
“It really makes no sense for us to continue to be called RBS,” says chairman.
UK
Paysafe bags new CTO from Barclays
Sujit Unni is joining at an exciting time for the company.
Community spirit: Reminiscing on the halcyon days of the bank branch
“I had to find out how to best serve people and customers at a community level.”
Video: Top fintech stories this week – 14 February 2020
FinTech Future’s weekly news round-up.
Saffron Building Society selects Burrow mortgage application tech
Saffron is the first user of the Burrow system due for launch later this year.
Wells Fargo cuts 700 jobs, overhauls exec suite and invests $5m in crypto start-up
The bank is splitting its three-part structure into five.
FinovateEurope: Danske Bank’s UK chief digital officer doesn’t like chatbots
“I don’t like them, and more importantly customers don’t like them.”
AnaCap to acquire Wealthtime
AnaCap takes first step into UK wealth management
FinovateEurope: Yolt chief exec muses API quality determining account switches
This would be “a nice end point for open banking”, he says.
Sainsbury’s Bank chairman to step down
Davis leaves after seven years in the post.
AutoRek wins Bank of England’s tender for reconciliation tech
AutoRek will provide a centralised platform across finance and operations for BoE’s reconciliation.
Revolut launches open banking for all UK retail and business customers
Its new offering has been built in partnership with TrueLayer.
Pay.UK consults industry on NPA standards
The consultation relates to the use of ISO 20022.
FinovateEurope: RBS head says bank has “turned a corner” in its innovation culture
“Our approach historically [to innovation] was the wrong one,” Broadbent admits.
German challenger N26 pulls out of UK ‘over Brexit’
N26 has been operating under “passporting” rules since October 2018.
How Canada’s Wealthsimple is building a whole financial suite
“We’re building a lifestyle brand,” says the fintech’s Europe CEO.
OakNorth CIO: UK success means European banks take us seriously
OakNorth says it has £2.3 billion in the pipeline for 2020.
Tandem Bank anticipates fresh £50m funding round
The figure raised is closer to £50 million, instead of the expected £100 million.
Starling Bank raises £60m from existing investors Merian and JTC
The round brings the neobank’s total funds so far to £323 million.
Nordic API Gateway CEO: Fintechs trying to be European too fast
“Open banking has a tendency […] to do stuff globally or do it pan-European,” says CEO.
Trustonic first to land EMVCo Software-Based Mobile Payments certificate
“[Our solution] brings the capability to literally anybody,” says Trustonic’s product director.
Rabobank spins out SurePay as independent company
Payments firm hailed as innovation success story.
There is no ‘one-size-fits-all’ approach in the ongoing fight for greater diversity
We should never lose sight of the ‘why’ that lies behind the lack of diversity in British businesses.
Video: Top fintech stories this week – 03 February 2020
FinTech Future’s weekly news round-up.
Envoy Group secures $13.5m investment for blockchain trade finance
Firm plans a full launch in Q2 2020, already has LatAm partners.
PaySend and JS Bank create freelancer-focused wallet in Pakistan
Pakistan is the fourth fastest growing global economy for freelance worker revenues.
More change at the top for the Financial Conduct Authority
Two non-executive directors join the FCA board.
On financial literacy: Fintech can be the key to future-proofing the UK economy
This stems from the lack of basic financial education or applied maths in schools.
RBS neobank Bó reissues cards due to authentication issue
The post cites “new” regulations which came into force last September.
GoSave to launch digital piggy banks in UK before Christmas
Co-founder tells FinTech Futures: “We’re fighting the inertia of kids not saving.”
PayPal users lose £1m to fraudsters posing as buyers
A total of 3,059 crime reports were submitted to Action Fraud regarding the scam.
Citi suspends “one of its most senior” bond traders for canteen theft
Paras Shah was Citi’s head of high-yield bond trading for Europe, the Middle East and Africa.
Video: Intellect Design Arena at MoneyLive London – an age of open infrastructure
Banesh Prabhu talks on FinTech Futures about open banking, legacy tech and CX.
State Bank of India selects BEP Systems for UK mortgage origination
SBI due to go live on Apprivo2 system in Q2 2020.
SaaS fintech Rimilia raises $15m from SVB and other investors
The investment brings the fintech’s total funding raised to $40 million.
Neobank for UK farmers Oxbury lands licence and launches Series C
Its flagship offering ‘Oxbury Farm Credit’ will roll out later this year.
Lloyd’s of London hires new chief digital officer
Louise Smith joins from RBS.
Philip Hammond joins OakNorth advisory board
Conservative grandee Francis Maude will also be joining its advisory board.
GoCardless CFO: No deal Brexit could cost London’s trade status
UK should remain epicentre of
“In theory, the UK is so global it should remain the epicenter”, says CFO.
Banking Technology February 2020 issue out now
Top dogs: The challenger bank success stories of 2019.
