Eileen Serra joins Capital One board of directors
She will stand for election by Capital One shareholders in April 2020.
USA
Key Private Bank to run portfolio management on Charles River system
Bank says deal signals “significant opportunities.”
PayPal migrates “key” infrastructure to Google’s new Salt Lake City data centre
Google Cloud now has 22 data centers across the globe.
Video: Top fintech stories this week – 28 February 2020
FinTech Futures’ weekly news round-up.
Air Academy Federal Credit Union selects Fiserv DNA
The credit union aims to support loan servicing with new system.
Mastercard announces Michael Miebach as incoming CEO
As well as former CEO Banga, chairman Richard Haythornthwaite set to step down.
Oracle hit by third claim it misled customers with “defect-ridden” cloud tech
Two previous tries have already been made to bring the complaints to court.
TripActions lands $500m credit facility from SVB, Goldman and Comerica
TripActions Liquid will float an employees’ travel spend.
Wells Fargo agrees to pay $3bn fine for fraudulent account furore
US bank agrees to pay hefty settlement fine on ongoing probe.
Goldman Sachs-backed salary lender Neyber in talks with administrators
Neyber secured £100 million from Goldman Sachs in 2017.
Data firm Akoya spun out as independent company by FMR
Akoya goes it alone after less than a year under FMR umbrella.
Intuit close to buying Credit Karma for $7bn
Last week saw a flurry of major fintech deals.
Credit card start-up Tribal Credit secures $5.5m in seed funding
New firm aims to help start-ups in emerging markets.
JP Morgan and Goldman Sachs back rival trading venue Members Exchange
MEMX is looking to rival the big three.
US gets new challenger Level Bank by Zero creators
CEO Bryce Galen says the new venture has “the highest APY-deposit account in the US”.
Google equips its cloud offering with two acquisitions
The Big Tech is gearing up to take on Amazon and Microsoft’s rival cloud products.
Video: Top fintech stories this week – 21 February 2020
FinTech Futures’ weekly news round-up.
Bremer Bank aims to revamp digital banking with Backbase
Minnesota bank looks to boost customer experience with Backbase tech.
EU report omits Big Tech GDPR decision, Google moves UK data to US
UK users’ data stored by Google is no longer under GDPR laws.
Priority One Credit Union kicks off conversion to Episys core system
Symitar system will save credit unions “several thousand” per year.
Morgan Stanley to buy E-Trade for $13bn in bid to tap online traders
The Wall Street investment bank is branching out from its wealthy client base.
Barclays spies on staff, CEO investigated for Epstein links
The technology tells staff to mute their phones and avoid breaks.
Ally Financial to buy CardWorks for $2.65bn, shares fall 10%
The deal grows Ally’s user base to 11 million across 50 US states.
LendingClub becomes first fintech to buy a US regulated bank
The fintech has acquired the $1.4 billion asset-holding Radius Bank for $185 million.
HSBC to cut 35,000 jobs in a major restructure to boost returns
Job loss figure more than triple the number expected to be cut by the bank.
JP Morgan to deny fintechs data access if they don’t sign new deal
One fintech said they were “surprised” by the strict deadline.
Video: Top fintech stories this week – 14 February 2020
FinTech Future’s weekly news round-up.
Wells Fargo cuts 700 jobs, overhauls exec suite and invests $5m in crypto start-up
The bank is splitting its three-part structure into five.
TransPecos Bank signs up Nymbus for core banking transformation
Texan bank already deploys Nymbus at its digital subsidiary.
Varo Money enters final stage of becoming nationwide bank
Mobile banking firm Varo Money has gained approval from the Federal Deposit Insurance Corporation (FDIC).
How Canada’s Wealthsimple is building a whole financial suite
“We’re building a lifestyle brand,” says the fintech’s Europe CEO.
Transparent Systems comes out of stealth mode with $14m funding
Ivestors: “The financial industry is ready for new technology to improve the way people pay for goods and services.”
Kasisto increases Series B funding round to $22m
The additional $7 million came from Napier Park Financial Partners.
Majority launches digital banking products for immigrants
It’s relying on two drivers: physical meetup spaces and brand ambassadors.
Service models: The future of fintech
FinTech Futures talks to two BPC senior VPs about the company’s new processing business.
Video: Top fintech stories this week – 03 February 2020
FinTech Future’s weekly news round-up.
Paystand raises $20m in Series B funding
The round includes new investment from DNX Ventures, Battery Ventures and more.
Standard Chartered signs Infor Nexus trade finance deal
Bank to offer Infor data matching service to clients.
US neobank North Loop partners with Aussie edtech Cohort Go
The neobank can extend its list of international payee countries to one 33 times the size.
Hong Kong’s virtual challenger Za Bank selects Fiserv for card payments
Fiserv’s VisionPlus will power Za Bank’s entire card payment lifecycle.
