UK regulators take aim at banks’ IT failures
The FCA, PRA and Bank of England have published a paper on operational resilience
UK
Nationwide invests in charity app Percent to support local British communities
The investment is part of the UK bank’s £50 million venture fund.
UK start-up StorkCard launches joint account for parents to manage childcare
Each carer is issued their own card linked to the joint account.
TSB selects Iress Lender Connect to boost brokerage
Iress calls the deal the first it has signed with a “top tier” bank
Banking app Monese launches “first” cross-border joint account in Europe
Monese wants to offer an alternative to traditional banks’ “red tape”.
Appian Europe 2019: KPMG says banks’ digital literacy is “very low”
KPMG says 80% of bank employees don’t know what unstructured data is.
Fintech API platform Rapyd raises $20m and hits $1.2bn valuation
The company is gearing up to make two acquisitions.
German SME challenger Penta teams up with card reader SumUp to tap offline businesses
Penta is breaking out of its online-savvy customer niche.
Toucan “first” to test bank account alert to help mental health sufferers
96% of UK mental health sufferers say the alert will be useful.
Legal & General outsources more of its investment arm to Charles River
The firm is moving closer to a centralised, cloud-based platform.
Appreciate Group and CleverGift collaborate on UK digital gift card
The card will be UK’s first multi-brand digital gift card.
Revenue-based financier Uncapped launches and secures £10m
The capital offering sits between debt and equity financing.
UK start-up Student Finance raises €1.15m to tackle university loans
The firm will cover fees and get a future share of students’ future incomes.
TCS migrates ABCUL credit unions to Bancs on the cloud
Voyager Alliance, East London and RetailCURe moved to the new platform.
CMFG Ventures hands BankBI Series A investment to tap US market
BankBi will use CMFG Ventures’ US credit union connections.
Private bank for YouTubers and high-net-worth youngsters 220 to launch for users next year
There is strict criteria to join the private banking community.
Video: Top fintech stories this week – 29 November 2019
FinTech Future’s weekly news round-up.
Natwest outage stops customers spending savings and payday wages on Black Friday
Some customers said they couldn’t get cash out of ATMs either.
Swedish AI start-up Bokio raises €4m led by local investor Creandum
The start-up uses AI to simplify bookkeeping for small businesses.
Leaked numbers show only 16% of Curve’s users are active
The UK start-up still insists it will reach 4 million customers by 2020.
Positive Money targets UK swing seats hit hardest by free ATM losses
Labour could grab six seats and the Conservatives could grab five.
Atom Asset Exchange joins LSE partner platform
AAX set to become first crypto exchange on the program.
Co-operative Bank launches personalised loan marketplace with Freedom Finance
Successful applicants “could receive funds the same day”.
Citigroup fined record £43.9m for ‘widespread’ regulatory reporting failures
Citigroup fell “fell significantly below the standards expected”.
NatWest ‘planned maintenance’ stops customers applying for Help to Buy ISA days before deadline
Customers took to social media to vent their frustrations.
Tandem Bank signs up TrueLayer for account aggregation
The UK challenger’s 800,000 customers will gain access to their other accounts in-app.
MoneyLive 2019: Here Mobility to help banks react to Uber and Grab’s financial play
The firm is offering a white label mobility solution to banks.
TSB plans 82 branch closures in £100m cost cutting exercise
UK bank spends 85% of income on running costs, says CEO.
MoneyLive 2019: Neobanks “regularly” share tips on financial crime, says exec at Natwest’s Bó Bank
Collaboration between new banks is “pretty impressive”.
UK challenger OakNorth’s partnerships chief leaves bank
Amir Nooriala has left the bank after just six months in the role.
Nationwide opens API sandbox for mortgage processing
The UK institution has been in contact with a number of third parties.
TSB suffers fresh payments glitch
Customers reporting lack of wages as internet banking slows.
Thought Machine becomes Google Cloud partner
Google Cloud is already popular among Thought Machine’s clients.
Preparing your fintech to thrive despite Brexit uncertainty
There are concrete steps fintechs can take today to put them on the right path.
Video: Top fintech stories this week – 22 November 2019
FinTech Future’s weekly news round-up.
Revolut appoints new group chief risk officer Pierre Decote
Ex-Goldman Sachs, HSBC and Barclays execs have also been hired.
Start-up Wealthinity launches to help smaller wealth managers compete
The firm says its product is white label and comes “without any additional costs”.
UK firms Oval and Seedrs build ‘first’ in-app fintech investment opportunity
Oval is conducting a £1 million crowdfunding round to test the app offering.
HSBC set to replace investment banking chief
Samir Assaf, head of global banking & markets, expected to move to a non-exec role.
Barclays launches 2.0 finger vein scanner with Hitachi for businesses
The new handset is smaller than its predecessor.
