Current’s new adult bank account sees strong growth
The challenger banking service started as a prepaid teen card.
USA
Denver and Latin America form digital finance collaboration
Peru and El Salvador cooperatives join forces with US credit unions.
Celero acquires Elmhurst and Tandem
The acquisitions add distribution and tech-focused organisations to its financial institution partners and merchants.
Xero and Stripe team up to help small businesses get paid faster
A champion move to help small businesses (SMBs) get paid faster and give them more options on how they get paid.
Berkshire Bank commits to RTP with Global PayPlus selection
Massachusetts-based Berkshire Bank has chosen Finastra’s Fundtech-derived Global PayPlus for connectivity.
Token lands $16.5m funding round
It will use the funds to build on its TokenOS open banking platform.
New partnership launched to foster US and UK fintechs
The FIP aims for enhanced cooperation over regulatory issues.
Bento unveils Venmo-style digital payment solution for SMEs
Bento Pay will only require the payee’s email address in order to send payments.
Brex raises $100m to reach $2.6bn valuation
In an extension to a Series C round launched in October.
The real-time data conundrum facing banks
Unlike digital natives, incumbent banks are stuck with legacy systems. But are these firms ready for change?
CloudBees acquires Rollout to ease feature deployment
Targeting the continuous integration/continuous delivery (CI/CD) market.
SME payments firm SpotOn to build on growth with $40m funding
The fintech has grown by more than 400% in 12 months.
FinovateSpring 2019: focusing on the digital future of fintech
Three key takeaways from the event.
Synapse receives $33m for back-end fintech
The San Francisco-based start-up expects integrations with Visa and MasterCard.
Fintechs: partnerships don’t mean you can be passive when it comes to compliance
Protecting the fintechs’ own well-being as well as that of their customers.
Step receives $22.5m Series A funding
Challenger for teens’ waiting list has surpassed half a million people.
JP Morgan folds smartphone bank account one year after launch
Finn accounts, aimed at millennials, will be moved to the Chase mobile app.
BanQu closes extension on $2.6m Series A
The amount of the extension remains undisclosed.
Enterprise cloud platform Liveoak closes $8m Series A round
The investment will fund product development and global expansion.
ING joins project to create blockchain-based USC
The utility settlement coin will reduce exchange rate risks.
Prepaid payments firm InComm acquires Hallmark Business Connections
Hallmark Business Connections provides employee incentive programmes.
Tink secures strategic investment from PayPal
The investment from PayPal adds $11.2 million to Tink’s capital.
Grasshopper Bank opens for business with digital focus
For its technology, the bank opted for Temenos’ T24 Transact core banking system.
Pacific Life partners with Salesforce for digital transformation
The NextGen CRM program assists the insurer's sales, service and marketing teams.
BlueVoyant gets $82.5m funding for cybersecurity analytics
Bringing the total funding to $207.5m.
SoFi confirms $500m investment led by Qatar
SoFi’s total capital now stands at $2.3 billion.
Step and Kard target teen market for banking
Both banking apps have launched their waiting lists.
Crowdz raises $5.5m to launch industry-first global invoice exchange
Aims to revolutionise receivables market for SMEs.
River Valley Community FCU becomes first in Arkansas to adopt POPi/o video banking
The credit union has more than 7,200 members.
Kyriba is first treasury platform to offer corporates RTP through JP Morgan
Corporate clients of both firms can use the service.
Card issuing platform Marqeta goes to Series E with $260m
This puts the company’s valuation at nearly $2 billion.
Allegacy FCU takes Fiserv core and other applications
The institution is understood to be replacing FIS’ old Miser system.
DevOps firm CloudBees gets capital injection from HSBC
HSBC uses CloudBees Core platform for its software delivery system.
TransferMate lands major deal with WellsFargo
The financial details haven’t been disclosed.
Money transfer app Pangea looking to offer checking accounts
More firms are looking to jump into the challenger bank world.
Top fintech stories this week – 17 May 2019
SoftBank’s big investment, as well as BCR’s pool B… and more!
Zenus Bank launches aiming to serve global clients
The US bank holds an international license.
Citi backs ChartIQ’s desktop integration technology
Undisclosed investment adds to $17.4 million Series B round.
ClickSwitch simplifies recurring payments with $13m funding
The Series B was led by Commerce Ventures and Point72 Ventures.
Video: fintech news weekly round-up – 13 May 2019
This week, blockchain and crypto by big names like Facebook and Microsoft, among other news!
