Lloyds, Halifax and Bank of Scotland customers hit by system outage
The incident took place from around 4am on New Year’s Day.
UK
China suspends London-Shanghai exchange partnership
The rumoured order comes amid rising political tensions.
Standard Chartered appoints new CIO of corporate, commercial & institutional banking
Rene W. Keller joins Standard Chartered from Deutsche Bank.
SME challenger bank B-North raises £2m funding
The bank’s first regional “Lending Pod” will open in Manchester in Q2 2020.
BoE’s Carney says finance is too slow on tackling climate change issues
Carney is due to become the United Nations’ special envoy for climate change.
Former Starling Bank CTO plans 2020 launch of crypto digital bank
Mark Hipperson is CEO of Ziglu, an app that will allow users to trade cryptocurrency
Credit card challenger Koto to launch in UK come 2020
“We are offering credit with a fixed fee from day one,” says Koto’s CEO.
Top 10 challenger banks by valuation and funding
It’s been a record year for fundraising across the challenger bank space.
UK challenger Supreme Fintech set to launch globally in February 2020
The start-up is gearing up for its 1 February 2020 launch.
Incumbents are putting aside religions of old, says cyber firm Veracode
The rise of cloud-native fintechs is “acting as a message to incumbents”, says CTO
Top 7 banking outages in second half of 2019
Banking outages have hit headlines thick and fast this year.
Wealth Wizards seeks £30m funding and new investors
The wealthtech aims “to make expert financial advice affordable and accessible to everyone”.
UK fintech Rebank raises $2.8m seed round to help businesses bank
The start-up sits on top of businesses’ bank accounts.
How would Boris Johnson’s 2% digital tax affect UK fintech?
The tax will target big social media platforms, search engines and online marketplaces.
Adflex CEO: Cards are definitely fighting back
Secure Remote Commerce (SRC) will disrupt the age old four-player system.
Video: Top fintech stories this week – 20 December 2019
FinTech Future’s weekly news round-up.
AI-powered pension solution Abaka raises $6.5m in Series A
The fintech says it’s “one of the biggest” investments for the pensions and retirement space.
Small business lender iwoca lands in Leeds to boost fintech hub
The fintech promises at least 100 employees in the northern city by 2023.
Starling and Monzo hike up overdraft charges for bad credit scorers
Starling is currently the cheapest option only going as high as 35%.
Metro Bank’s founding chairman Vernon Hill steps down as non-exec director
Hill steps down from the position ahead of the 31 December 2019 date.
B-North outsources deposit taking with Newcastle Strategic Solutions
Prospective SME bank aims to streamline its SME loan process.
A 2020 vision: digital adoption to continue
The competitive nature of the financial sector has continued apace.
FCA launches call for input on open finance future
UK regulator wants industry input on next steps.
Starling Bank partners with QuickBooks to sync up ledgers with transactions
Accounts ledgers will update automatically with each transaction.
Metro Bank opens SME registration for on-demand cash service
Metro Bank aims to help business users save time.
Video: Top fintech stories this week – 13 December 2019
FinTech Future’s weekly news round-up.
Portify raises £7m to offer gig economy and freelancers access to credit
The UK start-up landed a partnership with Deliveroo earlier this year.
Token turns digital money solution into new paytech M10
M10 is building a “bank-grade digital money rail”.
Three more UK payday lenders collapse before Christmas: MMP and PiggyBank
The collapses follow regulatory clamp downs on affordability checks and compliance.
Freelance payments platform Paydesk partners with TransferWise
TransferWise’s API will mean users won’t have to consult their bank to get paid.
Metro Bank pilots SME receipt management with Sensibill
UK bank hoping to save SME customers some time.
First Direct founder leaves retirement to join mortgage platform Dashly
Mike Harris becomes chairman of the company.
Open banking start-up Bud signs three-year deal with HSBC
The deal follows Bud’s huge staffing restructure and market change.
Plug and play platform FintechOS raises £10.7m
The start-up enables banks and insurance companies to compete with challengers.
Freetrade brings first native full stack solution to UK
The exec team come from Snapchat, Google and KPMG.
Santander and Elavon extend 15-year payments partnership
The two firms will continue a payments partnership signed in 2004.
Barclays Partner Finance offers 24-month interest-free contract on iPhone 11
The financing subsidiary says it can save consumers up to £270.
UK P2P firm Zopa receives £140m injection to keep banking hopes alive
Zopa’s temporary licence was set to expire.
Start-up Saga launches stabilised SGA token with major bank and exchange advisors
JP Morgan Chase’s chairman and former deputy attorney-general of Israel are on the board.
FCA hands out record level of fines in 2019
UK watchdog has handed out £391 million in fines so far in 2019.
