Video: Top fintech stories this week – 13 December 2019
FinTech Future’s weekly news round-up.
Digital
Mexican neobank Flink gains seed funding from Spanish firm Latina
The Spanish technology company sees a bright future in Flink.
Token turns digital money solution into new paytech M10
M10 is building a “bank-grade digital money rail”.
Mexican challenger Fondeadora nabs $2.5m in funding
Neobank seeks to reach underbanked with smartphones.
Cash management – changes, challenges and opportunities
Cash management is critical for organisations operating across multiple geographies or multiple lines of business.
The time has come to make Open Banking evolve into open finance
The whole financial world must evolve decisively and with openness when approaching and preparing for innovation.
Freelance payments platform Paydesk partners with TransferWise
TransferWise’s API will mean users won’t have to consult their bank to get paid.
Open banking start-up Bud signs three-year deal with HSBC
The deal follows Bud’s huge staffing restructure and market change.
Plug and play platform FintechOS raises £10.7m
The start-up enables banks and insurance companies to compete with challengers.
Mastercard and Doconomy bring carbon tracking to Bank of the West and Nordea
The news was unveiled at Madrid’s UN Climate Change Conference COP25.
Necessary conditions and sufficient convictions
If your “why” is simply “to make money”, your proposition may carry all the cynicism of yesteryear.
Freetrade brings first native full stack solution to UK
The exec team come from Snapchat, Google and KPMG.
Jumia to close Rwandan business
It comes just weeks after it exited Cameroon and Tanzania.
Santander and Elavon extend 15-year payments partnership
The two firms will continue a payments partnership signed in 2004.
Montréal’s FlexPay raises $6m in seed round
The fintech says 24% of recurring credit card transactions are falsely declined.
Brazilian fintech Cora raises $10m, founded by Wirecard company creators
Founders Igor Senra and Leo Mendes created MOIP which was bought by Wirecard in 2016.
Cboe Global Markets agrees to acquire EuroCCP
The deal is expected to close in the first half of 2020.
UK remittance fintech Paysend secures Canadian MSB licence
The paytech says its card-to-card service is now used by more than 1.2 million customers.
CashFlows appoints new COO
Helen Smith joins the business from Earthport and Visa Europe.
Trulioo opens GlobalGateway to Nigeria and Ghana
Nigeria & Ghana have taken significant steps toward increasing access to digitisation.
UK P2P firm Zopa receives £140m injection to keep banking hopes alive
Zopa’s temporary licence was set to expire.
Start-up Saga launches stabilised SGA token with major bank and exchange advisors
JP Morgan Chase’s chairman and former deputy attorney-general of Israel are on the board.
Legacy players might win the war in 2020
Will fintechs continue to gobble up customers from legacy players?
The 20th Banking Technology Awards winners have been announced
It was a brilliant celebration of excellence and innovation in the banking industry.
Nets pilots facial recognition for payments with Danish office workers
Office workers will pay for their lunch using their face.
Video: AEVI at Money20/20 USA – the ultimate merchant experience
How to get the most out of the “business in a box” proposition that smart POS brings.
US challenger Unifimoney launched by former Samsung Pay exec
The new bank is aiming for a 2020 launch.
Systems integration: A path to improved speed, efficiency and value
System integration bridges disparate platforms so they are better connected and seamless
JP Morgan Chase partners with Envestnet Yodlee giving customers more visibility on their data
All customer data will now funnel through the bank’s “secure API”.
Hungary’s central bank says major lenders could be “forced out” by fintechs
The bank mentions the pressures on revenues in a low yield environment.
Nationwide invests in charity app Percent to support local British communities
The investment is part of the UK bank’s £50 million venture fund.
CWB Financial Group selects Temenos Infinity for front office ops
The Canadian firm also deploys Temenos T24 in the core.
UK start-up StorkCard launches joint account for parents to manage childcare
Each carer is issued their own card linked to the joint account.
State Street cuts blockchain developers in potential strategy change
The firm looks to be moving away from a front-to-back DLT implementation.
French challenger Moneway aims to help users control their finances
Countryside neobank preparing to move out of beta.
LatAm Evertec acquires commercial payments enabler PlacetoPay
The acquisition is a gateway for Evertec to tap Colombia and Ecuador.
The driverless bank
A truly digital organisation can live without one of the five P’s that typically creates friction.
Italy’s largest bank UniCredit to cut 8,000 jobs by 2023 to reward shareholders
The bank wants to reach a 2023 revenue target of €19.3 billion.
Mexican lendtech start-up Konfio bags $100m investment led by SoftBank
This is the Latin American start-up’s fourth financing round.
Banking app Monese launches “first” cross-border joint account in Europe
Monese wants to offer an alternative to traditional banks’ “red tape”.
