PNC becomes first US bank on RippleNet
The bank joined the blockchain payments platform in September 2018.
USA
ICBA invests in Teslar Software for community banks
The undisclosed investment brings Teslar’s seed capital to $2 million.
Wealthfront acquires robo advisor Grove
California-based, Wealthfront, is acquiring financial planning fintech Grove for an undisclosed sum
How Laybuy seeks to attract global Gen Z market
Laybuy asks for no interest and brands itself as “ethical”.
booyah! bank blasts off in US
It’s backed by FDIC member, Surety Bank.
New US banking service launches for international students
The account is designed to make life easier for new arrivals.
N26 officially launches in the US
The challenger bank has also introduced a new sub-accounts feature.
Blooma raises $2.7m in first seed round
The financing was led by Floodgate.
Wild West to crypto best: How compliance separates cowboys from champions
Major players will be forced into closer collaboration with regulators.
Student lender MPOWER secures $100m from Goldman Sachs
Goldman Sach’s total loan financing capital for MPOWER is $200 million.
Bank of America announces “record-breaking” P2P app payments
The bank received 163 million transactions in less than nine months.
Credit union NEFCU chooses Fiserv for digital transformation
NEFCU has more than $3 billion in assets.
JRNI closes $6m Series C extension and appoints new CTO
The new capital will go to US acceleration and European markets.
Mortgage start-up Better.com closes $160m Series C
The fintech has seen rapid growth since its 2016 launch.
Acorns enlists more celebrity help to boost growth
J.Lo and Alex Rodriguez are among the investors.
Fintech start-ups showcased at Y Combinator Demo Day
Concepts ranged from crypto fraud tracing to student finance.
SMBC chooses Exiger AI compliance solution
Exiger promises SMBC it will boost its operational efficiency by more than 80%.
Accenture acquires financial risk advisor Parker Fitzgerald
Accenture responds to the evolving risk landscape in financial services.
ICE’s Bakkt set to launch bitcoin futures contracts
Bakkt is “cleared to launch” its trading in bitcoin futures next month.
CAIS announces new insurance product with Schechter
CAIS connects financial advisors with alternative investments.
How regulations are bringing banks and fintechs together
There are plenty of benefits for both.
Top fintech stories this week – 16 August 2019
Catch up on FinTech Futures’ top five fintech stories of the week – all in one place!
Barclays ends landmark crypto partnership with Coinbase
Coinbase no longer has access to the UK FPS.
Credit Karma accused of “roulette” security breach on Reddit
Every time customers refreshed they saw someone else’s data.
Lending platform SellersFunding expands to UK and Canada
The platform offers pre-approved funding for online sellers.
Calypso and 2021.AI team up to leverage AI in finance
The partnership will optimise Calypso’s back-office processes.
essDOCS enables first fully integrated paperless iron ore trade
The trade traveled from Australia to China on the Voltron blockchain.
Biz2Credit commits $10m to fintech training initiative
Biz2Credit will fund training of 100 of its employees.
Jack Henry core banking solution attracts 57 new users in 2019
A record year for the technology provider.
Blade raises $4.3m from Coinbase
The crypto derivatives exchange is launching in three weeks.
CIBC chooses SEI wealth platform to drive growth
The technology provides an “enhanced, unified solution”.
Walmart announce application for cryptocurrency
Shoppers’ money would gain interest in a makeshift bank account.
Mortgage Cadence integrates with DataVerify
Mortgage Cadence says the integration streamlines the application authentication process.
Envestnet’s CEO admits lawsuit sets them back
The $100m lawsuit has significantly disrupted “several clients and prospects”.
Brex competitor Ramp Financial raises $7m
The start-up is in the early stages of product development.
Sherpa Technologies partners with fintechs to help credit unions
Application open on 15 August.
FinApps slaps $100m lawsuit on Envestnet Yodlee
It claims that the platform ripped off its code to release their own product.
FinMkt closes $5m Series B
It provides highly customisable tech for the online lending industry.
PayPal helps entrepreneurs with MetLife and Village Capital
The alliance will reach out to more than 100 fintech health entrepreneurs.
Credit unions and Payrailz launch CU Payz
The new fintech partnership is designed to give credit unions ‘next-generation products’.
