When it comes to supporting the underbanked, the best solution might be a little old school
Community banks and the underbanked need one another.
USA
Fundbox hires “Swiss army knife” CFO signalling IPO
CFO Marten Abrahamsen is a former investment banker.
Ping An Technology builds innovation lab with Intel to boost cloud tech
The lab will also “supercharge” Ping An’s AI-based services.
US challenger Unifimoney signs integration deal with UMB Bank
US challenger inks deal with UMB for account infrastructure.
Tradeshift raises $240m in bid to become profitable
CEO Christian Lanng confirmed Tradeshift is not planning a 2020 IPO.
Raisin acquires Choice FS as first step into US deposits market
Raisin’s CEO Paul Knodel calls Choice FS “a perfect fit” for its US mission.
Union Bank picks FIS to underpin digital transformation
MUFG-owned bank the first user of new FIS platform.
Goldman Sachs quietly releases Marcus app three years after launch
The app was designed to be Goldman Sachs’ eventual main mobile face.
Finxact appoints former Trump Treasury counsellor to board of directors
Core banking firm hires industry veteran.
Payments industry underestimates Facebook Pay at its own peril
Tony Craddock, director general of the EPA tells FinTech Futures his views on the tech giant.
WisdomTree takes lead in $17.65m Securrency investment
It plans to pursue the integration of blockchain technology into the ETF ecosystem.
Visa to buy fintech start-up Plaid for $5.3bn
The deal doubles the fintech’s valuation from just over a year ago.
US and UK regulators take lead on AML fines for 2019
37 of the 58 fines were handed out by American and British regulators.
BNY Mellon Markets appoints Paresh Shah as global COO for FX
He joins BNY from HSBC, where he held the role of COO Americas for FX.
Samsung and Syniverse develop wallet-agnostic payments platform
Your phone number is your easiest payment method, says Samsung and Syniverse.
Video: Top fintech stories this week – 11 January 2020
FinTech Future’s weekly news round-up.
Covered Bond Bank migrates international branches to Avaloq Banking Suite
New York, Singapore, and Shanghai all switch to Avaloq system.
Fiserv wins two new deals with Wisconsin credit unions Landmark and Verve
Fiserv now powers half of all $1bn credit unions in Wisconsin for core account processing.
Texan fintech HighRadius raises $125m and hits unicorn status
Customers include Nike, Burger King and Sony.
Metro Bank raids FCA for new risk director
Jose Morago says he’s “excited” to get back to the finance industry.
Financing fintech Sezzle blocked from making loans in California
The Minnesota fintech deemed to be making “unregulated loans”.
The California Consumer Privacy Act kicks in
And it doesn’t look like anyone, even the state of California itself, is totally ready.
ICBA welcomes Charles Potts as the new chief innovation officer
Potts’ extensive financial services experience spans more than 25 years.
JP Morgan vows to ban fintech apps from using customer passwords
It’s working towards issuing tokens that send third parties a narrow range of data in a secure form.
HSBC plans new restructure with France and USA in firing line
The global bank is aiming to cut costs and weed out loss-making divisions.
Mastercard reveals acquisition of AI-based risk firm RiskRecon
The deal with RiskRecon is expected to close in Q1 2020.
Top 10 challenger banks by valuation and funding
It’s been a record year for fundraising across the challenger bank space.
Top 7 banking outages in second half of 2019
Banking outages have hit headlines thick and fast this year.
How would Boris Johnson’s 2% digital tax affect UK fintech?
The tax will target big social media platforms, search engines and online marketplaces.
Signing up to the future
A legal evangelist explains why she expects the future of contracts to be autonomous.
2019’s top core banking deals
The core deals which made waves this year, summarised just for you.
Video: Top fintech stories this week – 20 December 2019
FinTech Future’s weekly news round-up.
How the Grinch stole my identity: Three tips for fraud prevention this Christmas
As many as 8% of US consumers are affected by identity fraud at Christmas time.
Metro Bank’s founding chairman Vernon Hill steps down as non-exec director
Hill steps down from the position ahead of the 31 December 2019 date.
Three trends to watch in 2020
Red Hat dissects how 2020 will be a chance for banks to catch on to innovation.
PayPal sues US regulator over its “misleading” digital wallet rules
PayPal wants the Consumer Financial Protection Bureau (CFPB) to change its rules.
Robinhood does fractional shares, users can invest just 1 cent
An Amazon stock, which would cost $1,700, suddenly becomes as cheap as $1.
CULedger completes blockchain identity pilot with three US credit unions
MyCUID has been implemented in the call centres of the credit unions.
Video: Top fintech stories this week – 13 December 2019
FinTech Future’s weekly news round-up.
JP Morgan embroiled in yet another racism scandal
The New York Times obtained two recordings highlighting racial discrimination in the bank.
