Troubled Fidor Bank to shut down in the UK
Fidor Bank UK has announced it is withdrawing its services and products from 15th September.
UK
Multiply’s financial advice app wins FCA approval
The free service is the UK’s first fully regulated, automated advice provider.
Amazon brings money management to Prime for businesses in the UK
It also offers tailored advice when buying.
JP Morgan to take stake in 10x Future Technologies
10x Technologies’ boss is Anthony Jenkins, formerly Barclays head.
Access to payment systems on the rise
There are more indirect access providers in the UK market than ever before.
Bank of Ireland UK sells credit card portfolio for £530m
Jaja will become the consumer credit card issuer for the bank and the AA.
New mobile account in India Wizely gears for launch
New mobile account in India Wizely gears for launch
Monzo hits £2bn valuation
The latest funding round raised £113 million.
LGT Vestra gets new mobile app from Crealogix
The firm’s high-net-worth clients are getting a new digital experience=.
ClauseMatch lands first Singapore client
The regtech will partner with Ingenia to provide compliance-as-a-service.
Software provider Access Group acquires Eazy Collect
The UK firm will expand its payment processing capabilities.
Lloyds freezes 8,000 Jersey offshore bank accounts
The lockdowns happened last year after customers failed to prove their identity.
Roostify teams up with HSBC Bank USA
The new tech will revamp the digital mortgage experience.
HooYu and NatWest collaborate to offer account opening by selfie
The bank’s competitors HSBC and Lloyds began offering “selfie banking” in 2016
Top fintech stories this week – 21 June 2019
From JP Morgan’s secret UK digital bank project to MoneyGram and Ripple’s partnership.
Bank of England responds to Future of Finance report
It features five key action plans to meet the needs of the digital age.
JP Morgan’s secretive UK digital bank plans revealed
The new offering is rumoured to rival Monzo and Goldman Sachs’ Marcus.
Artesian introduces customers to ARCH
The tool has been in development for two years.
Moneyou selects Konsentus for PSD2 capabilities
Konsentus will provide Moneyou with third party provider (TPP) identity & regulatory checking.
N26 launches MoneyBeam for UK users
MoneyBeam lets users receive or transfer up to £100 with other N26 users in the UK.
Phoebus Software achieves buyout backed by NorthEdge Capital
After 30+ years of private ownership, UK-based Phoebus has concluded a management buyout.
Growth Street receives £10m funding round
Funds will be used to transform the business overdraft.
Bottomline partners with Starling to provide real-time payments
Banks and corporates sometimes struggle accessing the Faster Payments Scheme.
Gold payments firm Glint Pay receives £5m funding
It will help the firm push its US expansion.
Five winners in latest RBS-derived funding round
The fourth entry in the Royal Bank of Scotland (RBS) State Aid Alternative Remedies Package.
Lloyds first to launch open banking app for credit cards and savings
The banking group has also added a secure 24-hour messaging service.
The case of TSB and the importance of safeguarding banking cyber infrastructure
The security of online banking infrastructure is of pivotal importance.
New partnership launched to foster US and UK fintechs
The FIP aims for enhanced cooperation over regulatory issues.
Anti-fraud firm BlockClaim completes £500k seed funding
The UK-based firm uses AI and blockchain to detect fraud.
Retail banks ignore social media data at their peril
Social media is a valuable and largely untapped source of data for the banks.
FCA reveals new rules to protect BNPL consumers
Companies will no longer be able to charge interest on money repaid within offer period.
DNB extends investment in new 11:FS platform
The Norwegian financial services group will also implement 11:FS Foundry.
Augmentum Fintech to double in size as it seeks £150m fundraise
The capital would be used within the next 18 months.
Interview: Dan Makoski, Lloyds Banking Group – grand designs
“Design, like technology, is a strategic superpower that can be used to do incredibly bold things.”
HSBC seeks AI prowess with Element AI partnership
The bank is also looking out for more partnerships to push AI capabilities.
FCA tackles overdraft rules on new consultation paper
It proposes more transparency for better customer experience.
FinMechanics eyes European expansion with Amsterdam office
FinMechanics is seeking additional implementation partners and initial Europe-based sites.
CSSF warns UK fintechs about onsite visits
As part of its Brexit preparations, UK fintechs and payment services must also prepare for visits from the CSSF.
Tech Nation opens applications for fintech leadership programme
Designed for leaders of UK’s most promising scale-ups.
Delio to provide start-up funding platform for Fintech Alliance
Companies and investors will be able to connect directly.
