US challenger bank Denizen shuts down
The expatriate bank failed to reach required scale.
Payments
PayPal subsidiary Venmo launches first credit card with Synchrony Bank
Venmo will now be able to compete with N26 and Chime in the US market
Lemon Way nabs €25 million investment from Toscafund
Parisian payments firm plans geographic expansion with new funds.
Making payment easy across Africa and beyond
Thabo Makoko, explores how the continent can improve its payments infrastructure.
Video: Top fintech stories this week – 18 October 2019
FinTech Future’s weekly news round-up.
US challenger Chime goes down for millions of customers
Chime serves more than five million accounts across the US.
EBA sets December 2020 migration deadline for SCA compliance
European watchdog gives payments industry just over a year to comply.
Link extends Vocalink infrastructure contract to 2031
Vocalink emerges winner of competitive bid process.
Ripple invests in XRPL infrastructure startup Towo Labs
Investment going towards the development of hardware wallet firmware.
DIS 2019: OBIE trustee says business-consumer adoption figures in ‘hundreds of thousands’
The ‘big nine’ UK banks still represent around 95% of the market, says OBIE.
India’s fintech Paytm in talks with T Rowe Price for $1 billion funding round
Existing investors SoftBank and Ant Financial are also expected to participate.
OpenPayd appoints two new C-suite execs
They aim to accelerate its growth and the development of its technology.
Libra’s woes continue as Booking Holdings departs
The association has now lost 25% of its membership.
Brazilian fintech Nubank’s user base soars to 15 million
The fintech has reached decacorn status with a $10 billion valuation.
OTP Bank welcomes “later-stage” start-ups to its partnership programme
Applications need to be made by 22 November 2019.
Intesa Sanpaolo invests €7m into vending machine digital wallet MatiPay
The fintech will expand its operations in Europe, Japan and the US.
Mastercard, Visa, eBay and Stripe follow PayPal’s suit and leave Facebook’s Libra
Facebook’s hopes of a global cryptocurrency are hanging in the balance.
UK’s Royal Mint unveils first 18-carat gold payment card
The card enables limitless spending and zero foreign exchange fees.
Viva Republica cosies up to Standard Chartered in plan to form Korean challenger
A successful licence bid would create the third internet bank in the country.
Finnish invoicer Enterpay raises €1m and partners with German bank
The fintech partners with Volksbanken Raiffeisenbanken.
Video: Top fintech stories this week – 11 October 2019
FinTech Future’s weekly news round-up.
Branch launches free checking account and debit card for hourly workers
The fintech wants to increase financial stability in the US.
Amex admits to data breach from employee trying to commit fraud
Card numbers and social security numbers were compromised.
Bank of England reveals new £20 note featuring artist Turner
The new polymer note will be the first to utilise two transparent windows.
Digital currencies: the rise of stablecoins
Policymakers would be wise to envision far-sighted regulatory regimes that will meet the challenge.
Nordic banks reveal business plan for single payments platform P27
The banks predict P27 will start generating revenue in 2021.
Swift to expand its gpi into securities and FX transactions
Swift predicts the world too will take this holistic approach to gpi.
Ripple inks blockchain partnership with Finastra
Finastra brings blockchain to its payments solutions.
Norway’s largest bank set to monopolise country with all-access mobile banking app
DNB has access to every bank in the country.
Bottomline’s merger with EPG sparks UK regulators to investigate impact to competition
The CMA worries the merger will “result in a substantial lessening of competition”.
Decentralised vs centralised exchanges: a comparative analysis
Crypto is not about rolling the dice but it’s about making tough decisions.
PayExpo 2019: Monzo COO not so sure it needed to be a bank for its success
His reasons boil down to expensive, slow and heavy hoops since its licence.
Verrency appoints former Westpac Group CTO to advisory board
Prior to joining Westpac, Wilson worked with SAP and ABN Amro.
Wallets – the flexible way for banks to maintain competitive advantage
Mobile wallets for payments and loyalty provide the perfect weapon for banks seeking to fight off competition.
UK fintech Kantox partners with Citi Bank for FX solution
Kantox will deliver a “customised solution” for the bank’s FX clients.
FSB investigating the regulatory potential of stablecoins
Emerging scale could pose challenges, says FSB chair
Swift and HSBC team up for common API standard in Hong Kong
Partnership aims to prevent fragmentation and enhance API uptake
NatWest first UK bank to use fingerprint contactless credit card with £100 limit
Bank trials fingerprint-linked cards with 150 people.
ESAs identify weaknesses leaving high-volume transaction firms open to money laundering risks
The three European Supervisory Authorities (ESAs) publish their second joint opinion.
FinovateFall 2019: AI, ML, robotics and digital first
Three exciting days in New York witnessing the latest and greatest from over 70 fintechs.
