Apple Card fees pinch retailers’ profits this Christmas
Supermarkets are taking a stand against the fees.
USA
Mastercard and Doconomy bring carbon tracking to Bank of the West and Nordea
The news was unveiled at Madrid’s UN Climate Change Conference COP25.
Freetrade brings first native full stack solution to UK
The exec team come from Snapchat, Google and KPMG.
Morgan Stanley plans 1,500 job cuts
US bank wants to protect itself from economic headwinds.
Cboe Global Markets agrees to acquire EuroCCP
The deal is expected to close in the first half of 2020.
FDIC seeks comment on rulemaking process
US agency looking to get feedback on its regulatory actions.
AvidXchange launches $300m private fundraising round which could reach $2bn valuation
Previous investors have included Mastercard and PayPal co-founder Peter Thiel.
BNY Mellon connects custody capabilities with SimCorp to improve data transparency
BNY Mellon and SimCorp expect mutual global clients out of the partnership
Video: AEVI at Money20/20 USA – the ultimate merchant experience
How to get the most out of the “business in a box” proposition that smart POS brings.
US challenger Unifimoney launched by former Samsung Pay exec
The new bank is aiming for a 2020 launch.
JP Morgan Chase partners with Envestnet Yodlee giving customers more visibility on their data
All customer data will now funnel through the bank’s “secure API”.
Video: Top fintech stories this week – 06 December 2019
FinTech Future’s weekly news round-up.
US neobank Chime quadruples valuation to $5.8b, raises $500m Series E
Chime soars ahead of Brazilian challenger NuBank’s $400 million record fundraise.
Finra selects Amazon Web Services to power CAT processing
The regulator has selected a bevy of Amazon solutions.
State Street cuts blockchain developers in potential strategy change
The firm looks to be moving away from a front-to-back DLT implementation.
US DOJ digs deeper into Deutsche role in Danske money laundering scandal
Deutsche officials were made aware that the scope of the DoJ probe had broadened.
Mike Cagney’s Figure Technologies set to raise $103m in Series C
Figure is also edging into the student financing space.
Wells Fargo hires Santander’s US chief as new COO
Scott Powell will be the bank’s new chief operating officer.
Diversity-focused VC fund Harlem Capital debuts with $40m
The over-arching goal: invest in 1,000 diverse founders over the next 20 years.
Monzo hires Visa exec to lead US push
TS Anil will join the digital bank early next year.
CMFG Ventures hands BankBI Series A investment to tap US market
BankBi will use CMFG Ventures’ US credit union connections.
Video: Top fintech stories this week – 29 November 2019
FinTech Future’s weekly news round-up.
US fintech Robinhood pulls OCC banking application
The start-up is calling the withdrawal “voluntary”.
Goldman Sachs fined $1m for not recording traders’ calls in 2014
The bank failed to record calls for three weeks.
FIS integrates IBM to help clients counter fraud
IBM Safer Payments has been installed in FIS’s P2P solutions
Microgen Financial Services and Touchstone Wealth Management merge
The firms hope to create a leader in the trust and corporate services sector.
How paytech helps the gaming world tap the under-banked populations
Paysafecard and G2 Esports reveal how paytech taps underbanked gamers.
Capital market disruptor Capitolis raises $40m in Series B
Investors see the fintech in a position “to transform a whole industry”.
Video: Top fintech stories this week – 22 November 2019
FinTech Future’s weekly news round-up.
Caixabank inks deal with Salesforce to bring CRM to digital banking
The companies signed the agreement at Salesforce’s Dreamforce event.
PayPal sweetens e-shopping processing with Honey deal
The acquisition is PayPal’s largest to date.
Crypto compliance start-up TRM Labs raises $4.2m with help of PayPal
Backers include Reddit’s founder and PayPal Ventures.
Money20/20 USA: How Tangerine champions personalised digital banking with Meniga’s tech
From proof-of-concept to market launch, results, and lessons learnt.
Small business lender BlueVine banks $102.5m in Series F funding
The fintech now has $692 million in total funding.
HSBC’s US businesses can send real-time payments, bank launches global CX programme
The payments leverage the RTP network developed by The Clearing House (TCH).
US government plans strict enforcement of AML ‘travel rule’ for crypto firms
The rule requires crypto firms to share information about their customers.
Business payments platform Bill.com set to raise $100m in IPO
Underwriters listed include Goldman Sachs, BofA Securities and William Blair.
JP Morgan and Baton Systems develop real-time clearing system
New platform to address challenge of tying excess funds across clearing workflows.
FTC puts Visa and Mastercard under debit routing microscope
Major card schemes under investigation for blocking other network payments.
Video: Top fintech stories this week – 15 November 2019
FinTech Future’s weekly news round-up.
