Identity verification platform Onfido bags $100m from TPG
The start-up wants to create an alternative “identity verification” layer for the internet
USA
Kyckr extends Citigroup regulatory compliance deal
“There is no better referral than within an existing organisation,” says CEO.
CaixaBank and Global Payments create prepaid card under MoneyToPay brand
Global Payment’s Netspend president Kelley Knutson will head up the venture.
Four US credit unions pick Bankjoy for online banking
Four credit unions holding combined $724m in assets select Bankjoy’s systems.
OakNorth bags Modern Bank as second US customer
Modern Bank is a delegated lender under the CARES Act.
Square, PayPal and Intuit QuickBooks approved to hand out SBA loans
“This is a race to save jobs in the present and for the future,” says PayPal.
Sizing up the financially underserved market
There may be an even bigger opportunity for innovators to provide higher-quality financial products.
2020 Review: Top 10 core banking go-lives this quarter
Looking back at some of the most interesting core-banking go-lives this quarter.
2020 Review: Top 10 funding rounds this quarter
A look back at some of the biggest investments this past quarter.
Trump’s COVID-19 stimulus plan needs to swap checks for digital dollars
The potential for a CBDC to make such disbursements more efficient and effective is multi-faceted.
Top 10 coronavirus initiatives by governments and regulators
A brief overview of how governments and financial regulators have reacted to coronavirus.
Chime pilots instant $1,200 stimulus check payments
The US government plans to distribute stimulus checks from 13 April.
US Federal Reserve pours $2.3 trillion into financing economy
“This funding will assist households and employers of all sizes,” says the Fed.
Visa pours $210m into the coronavirus effort to help SMEs
Visa will split the money between NGOs and investment partners.
US-based Customers Bank adopts OakNorth’s lending platform
The US bank holds $11.5 billion in assets.
Fifth Third Bank plans 1,000 new roles for COVID-19 jobless
The US bank is hiring across retail banking, mortgages, and operations.
Consumer fintech SoFi to acquire Galileo for $1.2 billion
Both CEOs say now is “the right time” for this deal.
IBM names former Bank of America exec as new cloud head
Howard Boville steps in as Arvind Krishna takes over from chief Ginni Rometty.
Paul Cormier steps in as new Red Hat CEO
Cormier replaces Jim Whitehurst, who moved to parent company IBM.
Coronavirus exposes gaps in innovation
The pandemic has given fintechs a time to shine.
Will fintech CEOs follow in the footsteps of Dan Price post-coronavirus?
Monzo and Moven’s CEOs have both taken a 100% pay cut.
Liberty National Bank signs up Teslar to boost commercial lending
The Oklahoma-based bank aims to stand out from the crowd.
Dwolla appoints Brady Harris as new CEO
Harris says he is looking forward to working with “an incredible team.”
LA challenger bank HMBradley launches to tap savers
The bank says it will offer up to a 3% return rate on deposits.
Digital app One selects Finxact core banking system
New digital player to deploy Finxact on the cloud.
Nymbus launches loan processing system for US banks to deliver COVID-19 relief
Nymbus says it has digitised the entire Paycheck Protection Programme (PPP) loan process.
Plaid and Microsoft partner to turn Excel into a fintech app
“One of the earliest forms of ‘fintech’ is a budgeting spreadsheet,” says Plaid.
CRIF to buy AI fintech Strands
The deal is expected to close in the “coming weeks”.
Colorado National Bank rebrands to Transact Bank and goes live with Fiserv
CNB was bought by the owners of Latvian fintech Transact Pro in 2018.
Jumio helps US sectors battling coronavirus verify users for free
Organisations “involved in helping students, patients and vulnerable populations” can apply.
Cash flow firm Plastiq raises $75m in Series D funding round
Plastiq has raised more than $140m in funding since its founding in 2012.
Patch Homes rebrands to Noah & offers assistance for homeowners
It’s offering all new customers $1,000 at closing and waiving fees for existing customers.
US Fed Reserve & ECB ramp up bond buying to steady markets
Fed pledged to buy unlimited amount whilst ECB eyes up €750bn additional bonds.
Moven shuts all consumer accounts, pivots to B2B-only service for banks
Founder says “major multi-year funding” was withdrawn due to coronavirus.
Brex acquires trio of San Francisco start-ups
Neji, Landria, and Compose Labs all brought under the Brex umbrella
Draft coronavirus stimulus bill considers ‘digital dollar’ to help unbanked
House Democrats have drafted a bill which, if enacted, would create a ‘digital dollar’.
US non-bank financial firms push Congress for SME lending relief
Legislators are currently working on a bill which addresses small business loans.
Revolut heads stateside with US launch
The London-based unicorn expands to North America.
Finastra brings servers back online after ransomware attack
“A bad-actor was attempting to introduce malware into our network,” says firm.
Goldman Sachs becomes part of SAP’s Ariba Network
More than 4.6 million companies make up the Ariba Network.
