Square lands conditional banking licence from FDIC
The bank will be based in Utah.
Digital
Neobank for America’s middle-class One lands $17m Series A
The 40-person challenger has opened early access to its private beta.
US challenger Cogni to create lifestyle hub, starting with banking
The challenger wants to be the ultimate “operating system” for lifestyle.
Goldbell Financial Services picks Mambu to power debt investment
Singapore finance provider picks Mambu’s SaaS banking platform.
TransferWise teams with Alipay in latest Asian expansion
TransferWise customers just need the recipient’s name and Alipay ID.
Iwoca launches lending platform to help banks and fintechs tap UK SMEs
The platform has already bagged Monese and Xero as a partners.
JH&P picks InvestCloud to transform digital communication
The wealth management group also expects significant cost savings.
Daon to provide biometric authentication for digital bank Tonik
Tonik was founded as Southeast Asia’s first digital-only bank.
Swift’s ISO 20022 migration set back a year to November 2022
“The new approach will avoid short-lived investments by customers,” says Swift.
Expense management start-up Payhawk lands $3.3m seed capital
The round was led by N26-backer Earlybird.
Cyber-incidents are on the rise: What can your firm do to defend itself?
Senior management should ask themselves five key questions.
White paper: Anti-financial crime – looking beyond staffing
How banks can best perform their gatekeeper function.
Santander snaps up Nationwide’s deputy CEO to support UK transformation
The Spanish multinational bank has committed €20bn to its digital transformation.
Scotiabank commits to helping Canada’s emerging AI start-ups
The bank will give start-ups and tech entrepreneurs access to funding and expansion opportunities.
Crypto start-up Bakkt lands $300m Series B from Microsoft and PayU
The fundraising was closed last Friday, the same day Bitcoin experienced a multi-month low.
Underpinned helps companies pay freelancers with Banked
“The number of people choosing freelance work has grown rapidly,” says UnderPinned CEO.
Al Ansari Exchange chooses Pelican’s AI-based AML solution
Al Ansari Exchange hopes to create “an industry-leading compliance framework”.
Open banking: A move towards greater or lesser transparency in banking?
Will it reduce or increase information asymmetry between consumers and finserv companies?
Yapeal awarded Switzerland’s first fintech licence
Challenger plans to reinvent retail banking in the country.
Mastercard and Samsung sign Pay on Demand partnership
The two firms aim to arm businesses in emerging markets.
Al Wifaq International Islamic Bank selects ICSFS Islamic system
Newly established Iraqi bank picks ICSFS over five other providers.
Over one million users migrate from Yes Bank’s to ICICI Bank’s UPIs
The collapse of Yes Bank is causing ripple effects for UPI partners.
Agora Services lands $2m in seed funding
The founder previously built French digital bank Fortuneo.
Tandem launches AI personal finance adviser Ada
The AI assistant can predict cashflow, spending patterns and forecast balances.
What can we expect in the next decade?
From big data and cloud to developments in distributed ledger technology and more.
Video: Top fintech stories this week – 13 March 2020
FinTech Futures’ weekly news round-up.
Santander buys Spanish fintech Mercury TFS
Santander hopes the deal will enhance its global trade platform operations.
FCA issues coronavirus cryptocurrency scam warning
UK watchdog tells investors to be wary of deals too good to be true.
BandPay lands $2m to help musicians get paid
“This is a crucial investment,” says co-CEO.
Global fintech funding: 2018 still stands as the reigning year
As of February 2020, year-over-year deal counts were down by 22%.
Wirecard strikes again with Klarna payments partnership
Also this week, Wirecard teamed with Southeast Asian ride-sharing firm Grab.
Standard Chartered launches Banking as a Service solution in Indonesia
The white-label service was incubated at SC Ventures.
Inclusion, innovation, and mobile money in Sub-Saharan Africa
“If our systems fail, a big part of the economy would fail,” says exec.
Step aside China, it’s Southeast Asia’s turn in the spotlight
The region is full of promise and possibility for investors and entrepreneurs alike.
Budget 2020: What’s the fintech impact?
FinTech Futures picks out the fintech tidbits in this week’s announcement.
Rizq launches in UK as Sharia-compliant challenger bank
Rizq plans to benchmark itself as close as possible to existing challengers.
Alipay plans digitisation for 40 million Chinese service providers
The move marks a shift in the business from financial to digital services.
Visa teams up with Nigeria’s Paga
Lagos-based Paga holds more than 14 million customers across Nigeria.
Metro Bank partners with ezbob to launch SME lending platform
The bank claims businesses will receive loans in minutes.
Report on cloud transformation in banking: The 2020 state of play
Investigating how a new year and a new decade have impacted the drive towards a cloud-based future for banking.
