Root Banking rooting for Starbucks-level channel integration
San Francisco-based start-up from industry veteran Matt Krogstad is launched.
USA
Wells Fargo to scrap 800 more bank branches by 2020
Due to customers’ preference for online and mobile banking – and desire to cut costs.
FireEye to acquire big data start-up X15 Software for $20m
Plans to integrate X15 Software’s platform into its own security tools.
Cardlytics appoints new CTO
Data-driven marketing company is reinforcing its troops for the new year.
Blooom fighting fraud in world of the 401(k)
US independent robo advisor Blooom unveils new Suspicious Activity Alerts feature.
FIS fintech accelerator seeks start-ups
Ten places up for grabs in the US.
IBM planning to reassign 30,000 tech services jobs
“I’ve Been Moved”?
LendingPoint adds POS financing with LoanHero buyout
US deal means it can extend its financial software and services to consumers making a major purchase.
Accounting platform Aplos shows faith with Gusto
For Aplos’s nonprofit and faith-based organisation client base.
VMware confirms “small” number of layoffs
Even with the layoffs, it is also hiring.
Cisco plugs encryption hole in network security
Introduces analytics services designed to solve a growing problem – detecting threats hidden in encrypted traffic.
Eight US credit unions to move to FLEX core banking tech in 2018
US-based core processor FLEX also finished 2017 with the conversion of eight credit unions onto its tech.
Urban FT and Fortress Plus to co-market digital banking
Will also offer fraud protection at the same time.
Alkami scores $70m in Series D funding
Takes Alkami’s total capital to more than $116 million. Woo! Yeah!
IBM proudly poses at patent peak
Its inventors received a record number of patents in 2017 – marking its 25th consecutive year of US leadership.
Market incentives stacked against network security – US Government report
The marketplace now rewards low cost and performance over security, according to a draft cybersecurity report.
Wedbush Futures opts for FIS Derivatives Utility
US-based capitalised non-bank futures commission merchant makes its choice.
Citi unleashes single digital platform for mortgages
Makes dual agreements to integrate its suite of US mortgage products into one platform.
Dynamics makes a Sprint for new IoT connected card
Launches the Wallet Card, a battery-powered, connected payment card.
Insuritas launches i-Insure platform with property and casualty carriers
Insuritas has launched its i-Insure platform with 42 auto and home insurance carriers in the US.
Credit Karma teams with American Express to offer advance tax refund
With the new GOP tax law in place, Americans have begun thinking about 15 April – the tax filing deadline.
Wealthfront rakes in $75m
The financing was led by Tiger Global Management with participation from existing investors.
Ex-SoFi CEO on rebound with new fintech venture
Ex-CEO and SoFi founder plotting a comeback with a new fintech start-up amidst allegations of sexual harassment.
nCino brings its Bank Operating System to world’s largest credit union
US-based Navy Federal Credit Union (NFCU) opts for nCino’s Bank Operating System.
Passport raises $43m from Bain Capital
Transportation mobile payments company Passport enters 2018 with an extra $43 million in the bank.
Meed leverages ID verification tech from Jumio to serve the underbanked
Identity verification tech provider Jumio has teamed up with California-based fintech Meed.
Top fintech stories this week – 22 December 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Southern Bank leverages PicturePay from Malauzai for digital payment service
Southern Bank launches a new digital payment option: Photo Billpay.
Bluefin buddies up: Decryptx P2PE network grows to 50+ connected partners
Bluefin Payment Systems’ point-to-point encryption network Decryptx has onboarded new partners.
CashStar launches digital gifting programme with Belk department store
Waiting to send a digital gift card for southern US clothing styles? You’re in luck.
HyTrust’s DataGravity acquisition bears fruit for cloud security
Introduces software appliance that secures confidential data in the cloud.
NCR’s banking heaven in back seat of a Cadillac
An easier way to bank face-to-face with a live teller from the comfort of members’ cars.
Fiserv teams with TransUnion for loan origination system
Fiserv will integrate TransUnion’s CreditVision Link to increase precision of scoring and risk modeling.
TSYS to acquire fellow paytech firm Cayan for $1.05bn
The acquisition is expected to close in Q1 next year.
New York dismisses lawsuit against OCC fintech charter
Lawsuit dismissed against the US Comptroller of the Currency (OCC) over charter plans.
Symbiont smart contracts to simplify index data sharing for Vanguard
Smart contracts platform Symbiont has teamed up with Centre for Research in Security Prices (CRSP).
DoubleNet Pay to power cashflow management tool for T Rowe Price
Financial management tech start-up DoubleNet Pay scored a deal with investment services firm T Rowe Price.
Simility adds PayPal as investor in $17.5m funding round
Risk management firm Simility locks in $17.5 million in new funding, with help from PayPal.
Gremlin looks to bring “chaos engineering” to cloud masses
US start-up is looking to help enterprises improve cloud applications’ reliability.
Cisco study finds an IoT data paradox
People like what IoT does, but don’t trust firms with the data that sensors and connected devices collect.
