N26 finally lands licence to operate in Brazil
The country’s central bank has granted it a SCD licence.
Consumer/Personal Finance
Israeli remittance fintech Rewire targets one million customers by end of 2021
Rewire currently boasts more than 200,000 European accounts.
2020 review: Top 10 fintech and bank M&A deals
Despite COVID-19, the financial sector has still enjoyed some notable M&A deals.
Personalisation: the Gen Z banking imperative
This generational cohort represents a lucrative target market for financial services institutions.
FCA fines Barclays £26m over poor treatment of customers in financial difficulty
Barclays did not dispute the FCA’s findings and agreed to settle the case.
US state regulator says Robinhood is “aggressively marketing” to novices
The regulator calls out Robinhood’s approach of “gamifying” trading.
London BNPL fintech Zilch latest to enter UK market with $30m
Zilch claims to be the only BNPL player to combine open banking with soft credit checks.
Aussie neobank Xinja crumbles under unfeasible interest rates
The neobank landed a full banking licence last year.
Mozper lands $3.55m to launch kid debit card in Mexico
In August, Mozper – with the help of partner Visa – launched its closed beta with 500 families.
Financial assistant app Cleo raises $44 million
Cleo has four million Gen-Z and millennial users; and recorded a 400% revenue growth in the last year.
GoHenry latest in kid’s banking sector to land funding of $40m
Over 2019, parents on its app paid £98m in pocket money to their children.
Revolut hot on Starling’s heels, breaks even in November
“We’re doing much better compared to pre-Covid times,” says CEO.
The perennial BNPL crown
Blind allegiance has seen the BNPL sector explode in 2020.
Singapore issues digital bank licences to Grab, Ant & Sea
The regulator has issued four licences, rather than five.
Pockit raises over £500k in its debut crowdfunding
Pockit points to international expansion plans.
UK fintech Updraft raises £16m to refinance borrowers’ credit debt
The fintech focuses on spend-linked borrowings.
Banking for good
As the new kids on the fintech block start to mature, I do hope they support the broader community.
Web Summit 2020: A fintech summary
Stripe is looking at products around digital identity.
Libra and Facebook exec joins rental insurtech LeaseLock
The fintech removes the need for renters to pay a deposit for a rental property.
Ziglu lands £6m in Seedrs crowdfunding campaign
Last month, Monzo’s former legal head James Sullivan joined Ziglu.
Savings: the new battleground between challenger and incumbent banks
Reputation is taking a backseat when it comes to choosing where savers keep their money.
ECB issues Big Tech warning as it promises digital euro
European suppliers are essential in the building of technology on which a digital euro will operate.
Banking Tech Awards 2020 hosted online by Tom Ward
Join comedian Tom Ward for the 2020 Banking Tech Awards. Broadcast online on 10 Dec, 3:30pm GMT and is free to attend.
G2A co-founder launches banking challenger Zen in 32 countries
Zen’s offering is split into consumer-facing and business-facing.
Finleap invests in German app aggregating student finance products
German tuition is largely free, making aid for living costs scarce.
Lanistar comes under UK advertising watchdog’s microscope
The regulator says it “received complaints about ads for Lanistar”.
Virgin Money profits dive 77% as it braces for bad loans
Before impairment charges, Virgin Money’s underlying profit stood at £625m.
San Fran alternative lender Oportun applies for banking charter
Oportun currently has licences in 12 states.
South African BaaS provider Ukheshe to acquire local fintech Oltio
Oltio is a smaller South African firm which hosts QR code payments for Mastercard.
New York challenger Current lands $131m in Series C funding round
The capital will go towards Current’s product offerings.
Western Union snaps up 15% stake in Saudi telco’s payments arm
Currently Western Union provides stc pay with money transfer services.
Google Pay unveils integrated banking challenger Plex
Plex will sit in the wider, revamped Google Pay app.
FCA issues Lanistar warning as tech partners disavow connection
UK payments-as-a-service fintech Modulr is among them.
Latvian loan investment marketplace Mintos crowdfunds €6m
Mintos currently hosts 68 lending companies.
UK challenger Finndon lands e-money licence
The start-up plans to launch in 2021.
One of Turkey’s largest fintechs Papara gears up for expansion
It launched in 2016 and became cash flow positive in 2017.
Rebooting savings during the COVID-19 crisis
How then should we think about structuring our savings plan for success?
MSU Federal Credit Union built its own app in 2009 – where is it now?
MSU holds around $5.5 billion in assets and is America’s 48th largest credit union.
PNC buys BBVA’s US arm for $11.6bn creating America’s fifth-largest bank
PNC expects the acquisition will generate around $900 million in cost savings.
Lawyers turned payment processors serve world’s richest consumers
“We’ve already broken even,” says CEO.
