US banks must lose “legacy anchor” to meet customer needs in 2021
The banking landscape in North America is undergoing a fundamental shift.
Digital
Goldman Sachs mulls acquisitions to bulk up Marcus
Goldman’s CEO intends to make Marcus a pillar of the US bank’s growth.
Temenos shakes up executive team with changes at the top
Promotions and hires for the Swiss banking vendor.
MX ties up $300m in Series C funding
Utah-based firm has raised more than $500m since launch.
Vietnamese “super app” hopeful MoMo lands $100m Series D
The fintech’s registered users doubled to 23 million in 2020.
Understanding the three key trends in SME banking for 2021
The pandemic has accelerated digital transformation in banks’ lending platforms.
Video: Top fintech stories this week – 15 January 2021
FinTech Futures’ weekly news round-up.
Affirm IPO sees shares surge 98%
Affirm managed to halve its losses by June 2020.
Italy’s BNL goes live on Tink open banking service
The implementation is part of an extended deal with BNP Paribas.
Pakistan launches new instant payment system Raast
Government hopes Raast can host a collection of payment types.
The Cambridge Building Society migrates to Azure cloud with DPR
DPR provides its mortgages and savings platform on the cloud for the society.
Digital lender Blend raises $300m in Series G funding round
Lending firm plans to expand team and grow its products with the substantial raise.
Indonesia’s BukuKas lands $10m led by Sequoia Capital’s Indian arm
BukuKas says it already serves some 3.5 million customers.
Dubai-based Bankiom promises “new way” to manage money
Banking app promises fast account setup and loan processing.
Walmart prepares launch of its own fintech start-up
Retailer says customers want more of its financial products.
Canadian challenger Koho appoints new CTO
Jonathan Klein joins the neobank from Wayfair.
Polish consumer protection regulator investigates CD Projekt over Cyberpunk 2077
The UOKiK can fine the studio up to 10% of its annual revenue if it finds fault with its refund policy.
Freetrade pauses trading for US stocks following technical issues
Some investors woke up to their US stocks up over 2000%.
Visa and Plaid call off $5.3bn merger after US regulatory pressure
The two had initially intended to close the deal by June 2020.
Philippines’ mobile wallet GCash closes on $1bn valuation with new funding
Mynt-operated firm raises $175m from US investor.
Shariah P2P fintech Alami raises $20m in debt financing
Alami hopes to distribute trillions to SMEs and micro businesses.
2021 predictions: don’t overlook the phone call
Due to the explosion in illegal robocalls, many consumers have simply stopped answering the phone.
UK payments acquirer Unlimint powers on with “aggressive” LatAm expansion
In November, the fintech rebranded to Unlimint from ‘Cardpay’ as part of its expansion plans.
IHS Markit acquires compliance firm Cappitech after year-long partnership
Cappitech had provided its platform for Markit’s SFTR system.
Curve lands $95m as it reveals losses have quadrupled
The fintech claims to have two million customers.
Stripe cuts off Trump campaign for inciting violence
Payments processor strips Trump for encouraging violence.
Revolut applies for UK banking licence to boost primary account numbers
Fintech unicorn seeks to transition to full bank in the UK.
Tackling mobile fraud in 2021
Mobile numbers and associated SIM information have become even higher prized targets for fraudsters.
Fintech funding deals globally 4-10 January 2021
Featuring Grab, Mynt, Divvy, Mambu, and SimpleNexus.
EXCLUSIVE: Oracle wins Flexcube deal with Somalia entrant BB Bank
Upcoming Islamic bank picks Oracle FS to furnish its core operations.
BBVA shutters Simple after paying $117m for it in 2014
The bank is cutting out standalone entities which no longer make sense to operate solo.
UK Treasury calls for input on planned regulation of cryptoassets and stablecoins
UK’s finance ministry says “the landscape has changed” in a short time.
SoFi set to go public via merger with Palihapitiya’s fourth Spac
The IPO will value SoFi at $8.65 billion.
India plans new bank to support $1.5trn infrastructure revamp
Prime minister Modi is expected to announce the news next month.
How FIs can reduce friction and drive value in the payments system
FIs can help clients proactively identify and respond to potential problems.
Video: Top fintech stories this week – 08 January 2021
FinTech Futures’ weekly news round-up.
Mambu raises €110m to hit €1.7bn valuation
Cloud core banking vendor has raised over €150m since launch.
Customer service start-up Glia lands $78m to help banks and credit unions
The round was led by Shopify and Checkout.com backer Insight Partners.
Trump bans transactions through Chinese apps including Alipay
The applications have 45 days to prepare for the ban.
Orange Bank acquires challenger Anytime to expand SME focus
Anytime to fall under the Orange brand as it looks to scale up for businesses.
