Virgin Money profits dive 77% as it braces for bad loans
Before impairment charges, Virgin Money’s underlying profit stood at £625m.
Digital
San Fran alternative lender Oportun applies for banking charter
Oportun currently has licences in 12 states.
Danske Bank deploys Windward AI to track risk at sea
Windward claims its AI uses 10 billion data points.
Danish digital bank Lunar picks FIS for treasury and risk
Lunar to deploy a cloud-based version of Ambut Quantum.
South African BaaS provider Ukheshe to acquire local fintech Oltio
Oltio is a smaller South African firm which hosts QR code payments for Mastercard.
Founder and CTO of Malauzai leaves Finastra
Daniel Piangerelli departs two years after Finastra acquisition.
New York challenger Current lands $131m in Series C funding round
The capital will go towards Current’s product offerings.
Navigating the new normal – how to redefine KYB and enhance the SME experience
The “one size fits all” approach to compliant onboarding is simply no longer relevant.
Square and Tencent lead €93m Satispay funding round
The Italian paytech firm has recorded “significant growth” in 2020
Indian payments fintech Cashfree lands Apis-led $35m Series B
Cashfree counts more than 50,000 businesses as customers.
Prospective Philippines digital bank Uno picks Mambu
Uno’s parent DigiBankAsia is working with Philippine regulators to obtain a licence.
E-book: The dawn of end-to-end AML compliance
The components of an end-to-end AML compliance solution and how to put your organisation on the right path.
Advanzia Bank signs Backbase to power three new mobile apps
The new applications have gone live across France, Austria, and Spain.
HMBradley lands $18.25m Series A led by Chime investor Acrew Capital
To date, the fintech claims it has surpassed $90 million in customer deposits.
Western Union snaps up 15% stake in Saudi telco’s payments arm
Currently Western Union provides stc pay with money transfer services.
Investing as magic discovered
A new investment app that aims to truly change the way you are used to thinking of things.
AI rewrites 21st century debt collection practices
It’s likely that AI will find a range of uses in the debt collection sector.
Deutsche Börse leads $15m round for sustainability start-up Clarity AI
“Our purpose is simple: to measure the impact of companies on our society and planet.”
On-demand payment innovation at the heart of digital “new normal”
The COVID-19 pandemic has delivered industry changes in rapid time.
Suncorp exec-founded neobank Alex raises AUD 10m
The funding is headed towards marketing and product development.
New challenger Klear emerges in India
Klear promises an “approachable and easy” way to understand financial health.
Be Money rebrands as Daylight in preparation for US launch
Daylight promises a range of LGBTQ+ services to support its customers.
Starling Bank claims to be UK’s first profitable challenger bank
CEO Anne Boden announced £800,000 profit in a company update.
Ogaki-Kyoritsu Bank selects Moneythor to revamp digital banking
The regional Japanese bank wants a hybrid approach for customers.
New senior hires at core banking tech vendor 10x Future Technologies
Dr Leda Glyptis is new chief client officer and Mark Holt is chief product & engineering officer.
Mortgage platform Better.com lands $200m in Series D funding
Better claims to have funded $25bn in home loans since 2016.
The growth springboard for your bank
Coforge and Profinch execs share their thoughts on Oracle Flexcube.
FCA issues Lanistar warning as tech partners disavow connection
UK payments-as-a-service fintech Modulr is among them.
Australia’s largest stock exchange suffers worst outage in more than a decade
“If a software issue has caused the outage, an exchange might well have a claim”.
Chipper Cash raises $30m in Series B featuring Jeff Bezos VC
The Amazon founder’s personal VC participated in Chipper’s latest funding
Latvian loan investment marketplace Mintos crowdfunds €6m
Mintos currently hosts 68 lending companies.
UK payments provider Modulr lands £9m investment from PayPal
PayPal thinks Modulr is “well-positioned to be an enabler”.
UK challenger Monument partners with Mambu, AWS & Accenture
“Monument concluded that no appropriate single solution existed”.
Digital banking platforms – the new core
Banks that want to own their distribution should also have a strategy for DBP in place.
UK challenger Finndon lands e-money licence
The start-up plans to launch in 2021.
Monzo replaces chief risk officer Lisa Nowell
Nowell leaves after just over a year in her position.
One of Turkey’s largest fintechs Papara gears up for expansion
It launched in 2016 and became cash flow positive in 2017.
Former UniCredit execs launch Aidexa to service Italian SMEs
The bank aims to win over some of the seven million small businesses in Italy.
Neobank Mercury aims to serve US start-up scene
Founded in 2017, the bank has raised $26m so far.
App for US landlords NestEgg lands $7m Series A
Alongside its fresh capital injection, the start-up has also launched NestEgg Pay.
