US fintech community dealt blow by federal court as charter is denied
The OCC will be appealing the decision by the US courts.
Business-to-Business/B2B
Crunch launches mobile accounting platform for UK’s self-employed
The cost £5.5 million and four years in development.
GMG, Wecan and Capelli bring blockchain to real estate sector
The product is dubbed ‘Wecan Tokenize’.
Santander to sell Puerto Rico arm to FirstBank in $1.1bn deal
FirstBank will own all 27 bank branches on the island.
Instabase raises $105m sent to unicorn status
The bank app has raised $132 million since it began in 2015.
Kaleyra and Epiphany launch first open banking hub in Italy
The hub will give banks a space to launch PSD2-compliant products.
Mastercard and Visa battle over Revolut deals
Revolut says 75% of its non-European cards will eventually be Visa branded.
Contactless charity donations start-up GoodBox raises £1m
The funding is part of a combined Series A £2.3 million.
Investor rights lawyers investigate Wirecard securities fraud
Earlier this year, white-collar crime investigators raided Wirecard’s offices in Singapore.
Santander leads €35m funding round in digital debt marketplace CrossLend
Lakestar, ABN AMRO Ventures and Earlybird will also be investing.
FCA will ‘take appropriate action’ against product greenwashing which misleads customers
The regulator will work on “common standards and product disclosures”.
Calastone takes on ex-BNY Mellon exec Dan Kramer for US expansion
Kramer managed end-to-end customer experience at BNY Mellon.
Libra publishes signed charter with 21 members, inc. Spotify, Uber and PayU
Libra’s meeting also agreed on board members and staff.
Cashforce solves forecasting challenge for treasuries, raises €5m funding
INKEF Capital and Citi Ventures led the Series A round.
DIS 2019: OBIE trustee says business-consumer adoption figures in ‘hundreds of thousands’
The ‘big nine’ UK banks still represent around 95% of the market, says OBIE.
DIS 2019: Lendtech OpenWrks says it can predict divorce and relationship breakdown
OpenWrks can determine when gambling will become a health issue too.
UK lendtech Zopa brings transparency to credit score calculations
Zopa says it’s the first lender to show how it determines who to lend to.
Nigerian fintech Lidya launches SME lending platforms for Poland and Czech Republic
The company’s USP is to create 100 million jobs worldwide.
India’s fintech Paytm in talks with T Rowe Price for $1 billion funding round
Existing investors SoftBank and Ant Financial are also expected to participate.
UK cybersecurity firm Sophos bought by America’s Thoma Bravo for $3.8bn
Sophos houses more than 3,400 staff and a turnover of $710.6 million.
Nine UK fintechs land in Australia under the countries’ bridge programme
The companies will be showcased at Melbourne’s Intersekt conference.
OTP Bank welcomes “later-stage” start-ups to its partnership programme
Applications need to be made by 22 November 2019.
Queen’s Speech reinforces UK’s aim to be world-leading regulator
The report found London has the world’s highest concentration of finserv firms.
US regulators remind FIs of AML obligations for digital assets
The CFTC, SEC and FinCEN point to AML/CFT requirements for digital assets.
Revolut hires JP Morgan to manage $500m funding round and issue a $1b loan
The loan will turn into shares if Revolut receive a US banking licence.
China to ditch some foreign ownership limits next year as trade-war concession
Limits to be scrapped for securities, futures and fund management firms next year.
Facebook’s Libra suffers additional regulatory scrutiny
FSB & G7 leaders believe it should halt operations until legal oversight is completed.
Mastercard, Visa, eBay and Stripe follow PayPal’s suit and leave Facebook’s Libra
Facebook’s hopes of a global cryptocurrency are hanging in the balance.
FundRock appoints Lee Marshall as CTO
He joins from MasonBower, with previous experience from KNEIP and JP Morgan.
Finnish invoicer Enterpay raises €1m and partners with German bank
The fintech partners with Volksbanken Raiffeisenbanken.
Branch launches free checking account and debit card for hourly workers
The fintech wants to increase financial stability in the US.
Metro Bank brings fintech to UK SMEs with £120m funding
The bank wants to inject “much needed competition” into the SME space.
Credit Suisse mulls return to US private banking to serve LatAm’s wealthiest
The bank is looking to add $15 billion in assets to a new Miami base.
Temenos signs core banking deal with Maltese challenger Laskaris Finance
Laskaris will serve high-net-worth individuals and corporate clients.
Nordic banks reveal business plan for single payments platform P27
The banks predict P27 will start generating revenue in 2021.
Swift to expand its gpi into securities and FX transactions
Swift predicts the world too will take this holistic approach to gpi.
Banks’ culture and governance next target for Australian regulators
There will be “deep dive” reviews if firms don’t deliver.
OakNorth appoints former Google executive
Sunil Chandra joins as CEO of its next-generation credit platform
DPR and ClearBank complete partnership, savings meet APIs
DPR’s core banking technology will serve Clear Bank’s savings customers.
Standard Chartered Bank tackles reporting restrictions with BearingPoint
The new solution covers more than 130 jurisdictions.
