Top fintech stories this week – 3 November 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Payments
Fintech funding round-up: 2 November 2017
The money rolls for all you fintech souls. Our latest funding round-up features TransferWise, Lendified and Glint. Let’s begin with a big one. TransferWise has got $280 million in a Series E round led by asset management company Old Mutual Global Investors and Silicon Valley VC firm IVP. A source speaking to TechCrunch and “close to […]
Visa Direct expands to Europe
Visa has unveiled its European debut of Visa Direct, its real-time payments platform that allows for person-to-person (P2P), business-to-consumer (B2C) and business-to-business (B2B) payments.
MRI Software and KeyBank partner to automate payments
MRI Software, a real estate software solutions provider, has formed a partnership with KeyBank to provide clients access to its AvidXchange powered payment automation solution, KeyTotal Pay.
AsiaKredit launches consumer lending mobile app, pera247
AsiaKredit, a Southeast Asia digital consumer lender, has unveiled pera247 in the Philippines – its data-driven consumer lending platform mobile app.
Three reasons Asia is the perfect incubator for fintech innovation
A report released last year by EY and major Singaporean bank DBS declared China the “undoubted centre of global fintech innovation and adoption”. And China isn’t the only Asian country making waves in the fintech sphere. Overall fintech investments in the Asia-Pacific region reached $10.5 billion in 2016 – the highest amount witnessed to date since 2010, according to CB Insights data.
Three of Australia’s largest banks partner to create payment platform Beem
Three of Australia’s largest banks, The Commonwealth Bank (CBA), National Australia Bank (NAB) and Westpac have partnered to create Beem – a new mobile peer-to-peer (P2P) payments platform.
R3 and banks partner to develop cross-border payments platform
Enterprise software firm R3 and 22 of its member banks have developed a solution that leverages distributed ledger technology (DLT) to enable “fast, efficient and cost-effective” cross-border payments.
Avoid a bank branch nightmare this Halloween
Trick or treat! It’s Halloween and brands everywhere are using spooky season as a way to have some fun with customers. However, any ghoulish behaviour belongs firmly in the land of fun, and should not creep into everyday customer interactions
CYBG brings next working day cheque depositing to mobile banking
Clydesdale and Yorkshire Banks (CYBG), through its digital banking service B, is launching new technology in November 2017 to enable customers to pay in cheques using its mobile banking app, B.
Finnish OP Financial Group teaming with Polish fintech ZenCard
Polish fintech group ZenCard, alongside three other companies, is set to launch its technologies on the Finnish market after winning the OP Smart Commerce programme led by OP Financial Group.
Yoma Bank live with new treasury tech from Finastra
Myanmar-based Yoma Bank has implemented a new treasury and capital management (TCM) system, Fusioncapital Opics, supplied by Finastra (formerly Misys).
Westpac NZ in paytech modernisation with ACI Worldwide
Westpac New Zealand has completed “a wide-ranging banking technology transformation” with ACI Worldwide, according to the vendor.
NYC public transport set to go contactless
New York to roll out a contactless fares system across its public transport network, based on the system developed by Transport for London (TfL).
Fintech funding round-up: 27 October 2017
Just when you thought there couldn’t be more; the latest stories from the fintech funding world returns for another round. Features Constellation, Credit Sesame and Jirnexu.
South Korean banks sue US electronics retailer Newegg
Four South Korean banks, including Bank of Korea, Keb Hana Bank, Nonghyup Bank and Kookmin Bank, have filed a lawsuit against online US consumer electronics retailer, Newegg.
JP Morgan Chase launches mobile app Finn for millennials
JP Morgan Chase has launched its new mobile banking app, Finn. Designed for millennials, Finn will allow customers to open a bank account, make deposits, track spending and set up a saving plan.
Compass Plus builds new mobile banking app for Lipetskcombank
Lipetskcombank (LKB), one of Russia’s largest regional banks, has launched its new LKB Online mobile app, underpinned by the Tranzware Mobile Banking system from paytech specialist Compass Plus.
Map: fintech landscape
A very detailed map of the current fintech landscape, produced by VentureBeat, listing hundreds of companies in the banking, payments, investments, financing, insurance, infrastructure and enabling technologies verticals.
SelfScore rebrands as Deserve, raises $12m funding
Consumer analytics company SelfScore has rebranded as Deserve.
Fintech funding round-up: 25 October 2017
More of the latest stories from the fintech funding world. Features Verrency, Countingup, Finn.ai and Bud.
Hellenic Bank in paytech overhaul with Fiserv
Cyprus-based Hellenic Bank is modernising its payments platform with paytech specialist Dovetail (now part of Fiserv). The new solution will support Swift, Target2 and SEPA credit transfers at Hellenic Bank.
First Data partners with UnionPay to enable in-store and online transactions in the US
International paytech firm First Data has partnered with UnionPay International to enable in-store and online transactions in the US allowing UnionPay card holders to shop at US retailers.
Westpac NZ in paytech modernisation with ACI Worldwide
Westpac New Zealand has completed “a wide-ranging banking technology transformation” with ACI Worldwide, according to the vendor.
Geoswift partners with Bank of Shanghai for remittance services
Geoswift, a cross-border payments provider between China and the rest of the world, has unveiled its partnership with Bank of Shanghai to launch a new remittance service in 2017.
Fintech start-up Ualá targets Argentina’s unbanked with new mobile banking service
Argentina-based fintech start-up Ualá has launched a mobile banking service app to champion financial inclusion in the country.
Speed through the checkout with Pay with Google
Speed through the checkout on your Android device with Pay with Google, the latest payment API from Google.
IBM and Zelle team up to advance P2P payments
IBM says it has launched an “industry first” solution to support the full lifecycle of peer-to-peer (P2P) transactions, from the back office of financial institutions to the mobile device.
Wirecard in mobile wallet integration with Apple Pay, Android Pay and Samsung Pay
Paytech company Wirecard has launched mobile wallet integration with Apple Pay, Android Pay and Samsung Pay in the US.
Standard Chartered and SuperCharger return for third cohort in Hong Kong
SuperCharger, a fintech accelerator in Asia, has unveiled the opening of applications for its third programme in Hong Kong.
WorldFirst’s multi-currency platform puts UK SMEs world in their hands
WorldFirst, an international payments business, has unveiled its new World Account platform for UK corporate customers, providing a range of international banking services to SMEs trading overseas who find it difficult to access through traditional banks.
Diebold Nixdorf IMS Conference 2017: differing digital dreams
Diebold Nixdorf’s IMS 2017 conference continued with Czech Republic based, Air Bank, and its chief marketing and product officer Jakub Petřina, with a presentation and a touch of déjà vu.
Mastercard takes blockchain mainstream with API
Mastercard announced it has tested and validated its blockchain and will be opening access to it via a set of three APIs published on the Mastercard Developers website. The APIs include the blockchain core API, the smart contracts API, and the fast pay network API.
PIF Summit 2017 keynote interview: Suresh Vaghjiani, GPS
Prepaid International Forum (PIF) recently interviewed Suresh Vaghjiani, Managing Director of Global Processing Services (GPS), about the current state of the fintech sector.
Top fintech stories this week – 20 October 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
SIBOS Interview: Swift – challenges for instant payments
Isabelle Olivier, Head of Securities Initiatives & PMIs EMEA, Swift, talks about the challenges for Instant Payments in Europe and the recipes for success.
Fintech funding round-up: 19 October 2017
Three of the latest stories in one for a fast fintech funding round-up. Features Paykey, Digital Asset, Santander InnoVentures and ePesos.
JP Morgan Chase acquires WePay
JP Morgan Chase has acquired WePay, a California-based paytech firm, which will function as the payments innovation incubator in Silicon Valley for the bank.
Corporate banking: clear sky thinking
Swift’s global payments innovation (gpi) has taken giant steps towards solving many of the challenges corporates have faced with cross-border payments.
Correspondent banking: it takes two to tango
The global correspondent banking network is under pressure in several countries as some financial institutions close relationships. While financial inclusion continues to climb the agenda of regulatory authorities and financial institutions pledge their support, the de-risking taking place in correspondent banking threatens to scupper inclusion.
