First Women’s Bank picks Fiserv to underpin 2021 launch
The US neobank will operate out of Chicago to challenge small business lending in the US.
USA
Unqork signs Life.io partnership weeks after $207m Series C
Life.io will build its customer engagement apps on Unqork tech.
PeoplesBank picks Nymbus to help launch digital bank Zynlo
Regional US bank stand up digital branc with help from Nymbus.
Silent Eight lands $9m to help firms tackle money laundering
The start-up says it has doubled its valuation in just over a year.
TreeCard raises $1m from Ecosia ahead of 2021 launch
TreeCard, set to launch next year, is made of sustainable cherry tree wood.
Stripe acquires Nigerian start-up Paystack in $200m deal
Paystack has 60,000 business customers across Nigeria and Ghana.
TD Bank files lawsuit against Plaid for “duping” its customers
The bank claims Plaid is violating its trademark and tricking customers into handing over data.
Kish Bank picks CSIs NuPoint to fuel digital change
Bank says CSI has been behind it “all the way.”
CUNA Mutual Group acquires lending platform CuneXus
CUNA has been an early-stage investor in CuneXus since 2017.
Enveil CEO: Fragmented AML regulation creates “Russian doll effect”
Williams likens it to the “Russian doll effect”.
Future economic relief should care for more families
Deserving families have continued to be unfairly excluded from government relief throughout the COVID-19 crisis.
Morgan Stanley fined $60m for improper disposal of personal data
The OCC found examples in 2016 and 2019 of failure to oversee third party companies.
JP Morgan Chase partners with Greenlight for kids account
The JPMorgan Chase app has around 39 million ‘active’ customers.
OCC issues $85m penalty to USAA Federal Savings Bank
Military-supporting lender found to have failed risk management.
US rapper Killer Mike unveils Black and Latino-focused challenger bank Greenwood
Each month, the digital challenger promises to gift $10,000 to Black or Latinx businesses.
Ternio becomes Visa’s first crypto enablement partner for debit cards
“This shows Visa’s commitment to onboard other companies which develop crypto.”
Marqeta bags undisclosed Mastercard investment
“We want to invest in products, in customers and invest in continuing to grow globally,” says Marqeta.
Affirm files IPO application, but financials are confidential
Fintechs in the BNPL space have seen their valuations rocket.
Texan challenger Viva First to launch for Latinos before year end
The fintech is piggybacking off Texas-based Spur Security Bank.
Citi to pay $400m OCC fine for risk management failures
“The heavy lift will be the technology upgrade, which [the regulators] will micromanage.”
Breaking down walls
FinTech Futures took this somber moment to sit with Keisha Bell at DTCC.
Sibos 2020: Citi’s CEO calls on banks to deliver social justice
“We have a larger obligation to deliver fairness.”
Bank of America teams up with Black-owned Unity bank
BoA has acquired approximately 5% of the bank’s common equity.
LendingClub shuts retail P2P offering as it focuses on institutional investors
The fintech allowed consumers to invest in Notes, corresponding to fractions of loans.
Goldman Sachs to buy General Motors’ credit card portfolio
Goldman reportedly beats Barclays to nab consumer credit pool worth $8.5bn.
Sibos 2020: JP Morgan CEO tells banks “don’t outsource your soul”
Jamie Dimon believes plenty of outsourcing firms “have no idea what they’re doing”.
Sibos 2020: Finastra steps out of big bank payments bubble with smaller bank offering
“In Europe, these [smaller] banks are the vast majority.”
Temenos hires Roger Klantschi as EVP for Americas
Former Infosys veteran joins Temenos to build on US drive.
Does Europe really need its own Big Tech?
Almost a third of consumers find the idea of banking with a Big Tech appealing.
Jumio talks Asia-Pacific growth, the platform play and new sectors
“There is a long-term value proposition in re-authentication,” says CRO.
JP Morgan Asset Management signs Morgan Money deal with SAP
SAP to deploy Morgan Money on its client-facing delivery platform.
US associations go after OCC’s payments charter in critical letter
The OCC is currently in the swings of introducing another special purpose national bank charter.
Alkami Technology closes $140m funding round
The cloud-based digital banking firm has raised $378 million to date.
Mastercard and ACI sign payments infrastructure partnership
The pair are targeting central banks, schemes, and service providers.
JP Morgan-backed Greenlight joins unicorn club with $215m Series C
The start-up says the new funding will be used to push its customer growth further.
Jumio acquires Beam Solutions’ AML technology
Identity firm plans to boost its KYX platform.
Private banking challenger Letter set to land in California
The start-up is spearheaded by GoDaddy engineer Drew Wilson.
Nymbus undergoes management shake-up with new CEO & CFO
Banking technology firm secures new faces at the top.
MineralTree raises $50 million, acquires Inspyrus and Regal Software
Accounts payable firm plans to take firm grip of mid-market segment.
Citigroup promises $1bn to close US racial wealth gap
Citi figures suggest $5trn could be added to US economy in doing so.
