First Women’s Bank picks Fiserv to underpin 2021 launch
The US neobank will operate out of Chicago to challenge small business lending in the US.
Financial Services/Finserv
Line launches messenger-based banking platform in Thailand
Line has developed and operates the service in collaboration with Thai bank Kasikornbank.
Unqork signs Life.io partnership weeks after $207m Series C
Life.io will build its customer engagement apps on Unqork tech.
Game over, insert coin
We are trying to pay lip service to wholesale dramatic change but get away with cosmetic modifications.
Visa and Mastercard abusing UK duopoly, say retail groups
The major card schemes are accused using their position to charge increased fees.
Hong Kong challenger WeLab Bank goes live on Temenos Transact
The neobank launched a few months ago.
European lender Capitalbox buys rival Dutch arm of Spotcap
The deal marks Spotcap’s exit from the direct lending market.
PeoplesBank picks Nymbus to help launch digital bank Zynlo
Regional US bank stand up digital branc with help from Nymbus.
White paper: Low code development in banking and its role in high speed content-based services
How banks can make more strategic use of their content, developing applications at speed that transform services & user experiences.
UK challenger Lanistar lands £15m from CEO’s family
“Lanistar is not only planning to stand out, but step over all the other start-ups”.
Curve to launch new credit facility powered by Thought Machine’s Vault
Curve Credit allows customers allows customers to pay for their purchases in instalments.
TreeCard raises $1m from Ecosia ahead of 2021 launch
TreeCard, set to launch next year, is made of sustainable cherry tree wood.
GPS secures Visa investment to fuel international expansion
Payments processing firm plans to branch out from Europe and South East Asia.
Canadian invoice firm FundThrough raises $50m to support SMEs
FundThrough aims to eliminate the “wait” for SME payments
Russia’s Yandex and Tinkoff scrap $5.5bn deal
Internal email suggests agreement was lost on nature of the merger.
Unlocking the benefits of unstructured data in banking
Key areas that the sector is failing to tap into with ML and AI.
Stripe acquires Nigerian start-up Paystack in $200m deal
Paystack has 60,000 business customers across Nigeria and Ghana.
TD Bank files lawsuit against Plaid for “duping” its customers
The bank claims Plaid is violating its trademark and tricking customers into handing over data.
Kish Bank picks CSIs NuPoint to fuel digital change
Bank says CSI has been behind it “all the way.”
CUNA Mutual Group acquires lending platform CuneXus
CUNA has been an early-stage investor in CuneXus since 2017.
Aussie challenger Judo Bank picks nCino Bank Operating System
Judo Bank aims to automate processes to focus on customers.
Future economic relief should care for more families
Deserving families have continued to be unfairly excluded from government relief throughout the COVID-19 crisis.
TCO Report: on-premise storage vs public cloud storage
The guide to economic advantages of on-premises object storage vs public cloud for enterprise data storage.
Video: Top fintech stories this week – 16 October 2020
FinTech Futures’ weekly news round-up.
Canadian robo-advisor Wealthsimple lands unicorn status with $87m raise
Wealthsimple serves some 1.5 million users.
Fronted joins Yobota’s first cohort of core banking clients
The fintech is just “a couple of months” away from going live on Yobota’s core banking platform.
Morgan Stanley fined $60m for improper disposal of personal data
The OCC found examples in 2016 and 2019 of failure to oversee third party companies.
The end of apps
Is it time that we jumped from the app bandwagon?
Tide and GoCardless sign invoice-chasing payments partnership for SMEs
The two firms claim SMEs are suffering without timely invoice payment.
JP Morgan Chase partners with Greenlight for kids account
The JPMorgan Chase app has around 39 million ‘active’ customers.
OCC issues $85m penalty to USAA Federal Savings Bank
Military-supporting lender found to have failed risk management.
Why the focus on risk weighted asset optimisation is increasing
Many banks have started formulating an action plan and framework to drive this initiative within their organisation.
FinTech Futures Jobs: five exciting fintechs that are hiring now
Top fintechs looking for talent, including Monzo, OakNorth, Cleo AI and Chip.
Aussie trading app Stake makes leap to LatAm with Brazil launch
“LatAm looks to the US as a beacon,” says COO.
PayPal adds interest-free instalments to its UK wallet in BNPL play
Two thirds of British millennials use BNPL services.
Klarna under investigation by UK regulator for ‘unsolicited’ emails
The Information Commissioner’s Office (ICO) is investigating the claims.
FIMBank Malta taps Fiserv to improve financial crime risk management
Maltese bank to implement Fiserv AML Risk Manager.
Ex-Revolut execs form start-up investment firm Expansion Capital
Of its 15 investments, three were founded by Revolut alumni.
Tandem Bank appoints former Allium CEO as new chief commercial officer
Paul Noble joins Tandem to help it create green digital banking services.
Central bank digital currencies – don’t get the popcorn
If the art of the possible is being explored, the art of the valuable remains elusive.
