Banking hubs set to open in 13 locations across UK
The increase in shared banking hubs comes as retail banks continue to pull out of the country’s high streets.
Cash
Lessons from a car that won’t unlock
Based on recent experiences, here are some thoughts on what finance can learn from the auto industry.
The role of the payments industry in saving people and planet
Changing the way we make payments can have a substantial positive impact on our society’s carbon emissions.
What comes after cashless?
Data lies at the heart of the financial services sector’s digital transformation.
Digital makes the world go round: a reflection
We have the tools and resources to do more, and to do better, but more action is needed.
The gathering momentum of CBDCs
CBDCs offer a means for secure digital payments with legal tender status, and no bank account is required.
Consumer finance provider Home Credit appoints Jan Cenkr as group CIO
Home Credit is working towards the launch of its new Global Mobile App.
Wyre partners MoneyGram to allow crypto-to-cash conversion
It’s hoped the integration will address a “major pain point for users” in the crypto ecosystem.
US proptech HomeLight acquires Accept, raises $115m at $1.7bn valuation
The acquisition of Accept will make HomeLight the largest agent-focused cash offer programme in the country.
Barclays to shutter 27 more branches, taking its total to 103 branch closures for the year
As customers increasingly bank digitally, Barclays is “carefully reducing” the number of underused branches.
Mastercard partners HyperPay to boost digital payments across MENA
As part of the deal, Mastercard has also invested in HyperPay, leading a $40 million funding round.
UK’s Previse raises $18m in Series B round
The round was led by Tencent with participation from existing investors.
How CBDCs will transform the way India transacts
The proposed implementation of CBDCs will completely change how the country perceives money.
Experian buys majority stake in Brazilian fintech MOVA
Experian will buy a 51% stake in MOVA for $7.9 million.
LeapFrog and Tana Africa invest in Nigerian paytech Interswitch
LeapFrog and Tana will work with Interswitch to increase its customer base and develop new products.
FinTech Futures: Top five stories of the week – 13 May 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
UK government unveils new law to protect access to cash
Economic secretary to the Treasury John Glen says: “We know that access to cash is still vital for many people.”
New small business payments platform Hopscotch seeks to make invoicing hassle-free
Hopscotch, founded in June 2021, has raised nearly $10m from 12 investors.
California fintech Point secures $115m Series C to accelerate growth
Point enables homeowners to unlock equity from their homes.
When cash ceases to be king: the rise of innovative payment methods
Digital payment systems have seen explosive growth with many people moving away from cash.
Singapore’s Nium to acquire alternative payments network Socash
The acquisition is expected to close in Q3 2022, subject to customary regulatory conditions.
Funding pours into rapidly growing climate fintech scene across Europe and US
Climate fintech start-ups raised $1.2 billion in 2021, according to figures from CommerzVentures.
NatWest and RBS to shutter 32 branches in England and Wales
The UK banking giant says it has taken steps to mitigate the impact of the closures.
Colombian paytech Bold secures $55m Series B to boost financial inclusion
Bold wants to accelerate Colombia’s transition from cash to a digital payments economy.
House of Lords committee says UK digital pound is “solution in search of a problem”
The Economic Affairs Committee cited financial, privacy and data concerns over UK CBDC.
The impact of the contactless limit increase on financial inclusion
What does the contactless limit increase mean for the future of the payments industry and financial services?
The outlook for payments in 2022 and beyond
In 2022 we can expect more industry consolidation and further demand for alternative digital payment methods.
British Business Bank backs SME-focused lender Simply with £300m funding line boost
Simply has provided £650 million worth of support to businesses since it was founded in April 2017.
New e-money fintech Twig launches in UK
Twig customers can turn their unwanted possessions into cash.
TSB to close 70 branches across UK as digital-first banking becomes norm
Over 90% of customer transactions are now carried out digitally, the bank says.
Saigon Commercial Bank to revamp cards offering with BPC
The project is partly driven by predicted strong growth in mobile transactions in Vietnam.
Video: fintech news pick of the week – Mynt, Oracle, Standard Bank & more
Our top pick of news from the world of finance and tech in bitesize video format, every week.
New UK fintech Cleva launches money management platform for carers
Carers can make purchases using a Mastercard-enabled card from selected digital wallets.
Cartoon: Landfill
This new cartoon illustrates how the excess of cash is diminishing the ‘Valley of Death’ for many start-ups.
Sibos 2021 video: SmartStream on cash and liquidity management in difficult times
FinTech Futures interviews Peter Dehaan, new business director for cash and liquidity management at SmartStream.
Have you made these five transformational tweaks to your self-service channel strategy?
A modern ATM fleet equipped with innovative new features and cash recycling technology is essential.
Dutch digital bank Bunq partners with Paysafe to offer cash deposits
The two companies say the partnership will facilitate “quick and secure cash deposits”.
Visa partners Indian paytech to push offline payments
Innoviti says it is committed to building a cashless India, driving financial inclusion across the country.
Expense management platform Jeeves secures $57m Series B funding
The new investment takes the start-up’s valuation up to $500 million.
Nigerian central bank partners with Bitt to deliver new digital currency
The Barbadian fintech says digitising the Naira will benefit the entire Nigerian financial ecosystem.
