Emirates NBD deploys new payments hub with TCS Bancs
The UAE bank goes live on TCS Bancs after kicking off the project in 2019.
Payments
FinnovateFall 2020: Digital tools creating a new kind of banking customer
Marcus executive says banks must prepare for a post-COVID world.
FCA shuts down half its money-laundering investigations in 2020
It stopped seven of the 14 investigations into money laundering since January.
Hong Kong virtual bank Livi picks Wolters Kluwer for regulatory reporting
New bank wants OneSumX to cover its compliance.
Chip breaks crowdfunding records to raise £10m in 48 hours
6,420 investors participated in funding backed by the Future Fund.
EBA calls for EU-wide set of anti-money laundering rules
European regulator says national rules have had “an adverse effect” on AML.
Regulatory sandbox at heart of Egyptian fintech boom
“For the first time, we are seeing a key dialogue with central players,” says Paymob.
NAB and CommBank race to launch no-interest credit cards
The Australian banks are reacting to the proliferation of buy now, pay later firms.
Hungarian fintech PeasyPay continues hand and face payment roll out
In the UK, the start-up is working with taxi drivers in Glasgow.
JP Morgan fires staff for COVID-19 relief funds fraud
The largest bank in US clamps down on suspicious staff activity.
Caceis signs up with FIS to deploy new payment hub
The asset servicing firm aims for cross-border payments compliance.
Thunes raises $60m in Series B round to power network expansion
Thunes plans to extend its reach in Asia, Africa, and Latin America.
State Bank of India boosts ATM and POS infrastructure with ACI Worldwide
The two companies have a longstanding partnership on payments.
GoCardless bags new chief revenue officer to tap enterprise space
The fintech is currently drawing back its growth to preserve cash.
TrueMoney partners with Thunes to activate global remittances
Thunes claims to work with partners in more than 100 countries.
HMRC reveals £3.5bn in furlough payments sent in error
Around 5-10% of the scheme’s payouts have been made in error, says government body.
UK Finance scheme stops £19m of fraud in 2020
The Banking Protocol teams up police and bank staff to stop fraudsters in branches.
Cloud: the new frontier in banking
Demystifying the move to the cloud is the first step to becoming more agile.
Starling Bank announces account and CHAPS payment charges
The UK challenger announces new structure days after rival Monzo.
NextPay signals intent to fuel expansion with $100m raise
The Vietnamese payments firm is the first in its country to announce an IPO.
HKEX appoints Credit Suisse’s Richard Wise as new CRO
Wise steps in to replace John Killian, who retires from the role.
EPA lands new CEO in ex-Informa exec
Agnew will combine both his business strategy and event management experience.
Form3, Countingup and PPS create new SME offering
The SME market contributes around £2 trillion a year to the UK economy.
Neon raises $300m in Series C funding to offer underbanked credit
Brazilian challenger back secures Series C in same week as competitor Nubank.
WorldRemit partners with Juba Express on Somali remittance services
Somalis emigrates send $1.4 billion back home every year.
Visa loses risk head Peter Bayley after 17 years
At Visa, Bayley held a number of roles which steered the firm’s fraud and risk management.
Vanquis Bank partners with NatWest’s Payit
Payit was built by London-based, RBS-backed fintech, Pollinate.
UK government seeks open banking revamp for HMRC
New contract worth £3m tailored to automating payments processes.
Wells Fargo extends 25-year processing partnership with TSYS
US bank resigns for TSYS payments technology.
Credit marketplace Auxmoney picks up €150m in new funding round
Existing investor Centerbridge now owns the majority of Auxmoney’s equity.
Singapore’s cross-border transfer fintech Nium lands EMI in UK
Nium evolved from a consumer remittance service to a B2B offering.
Cornerstone Brands plans acquisition of FXPress Payment Services
Men’s toiletries brand makes a move into payments.
Pan-African challenger Union54 to launch in 2021
Both Union54 and Zazu were founded by Perseus Mlambo.
Modulr is first non-bank to launch Confirmation of Payee
The second product launch by the fintech since its £10m grant.
Varo Bank goes live on Temenos Transact core banking system
New US bank prepares for post-launch life with Temenos.
RTP is changing payments fast
RTP is bound to cause swift changes for the customer-facing side and behind the scenes.
US payments start-up Finix lands $30m from Lightspeed & Amex
To date, Finix has raised $96 million in venture capital.
Video: Top fintech stories this week – 28 August 2020
FinTech Futures’ weekly news round-up.
UK savings app Chip plans Series A on back of 2020 growth
Chip has seen a 138% savings growth compared to 2019.
ROSCA: Is there a potential for entering developed markets?
It matches the needs of rural households thanks to its simplicity and informal understanding.
