Top fintech stories this week – 14 June 2019
This week, we look at the FCA’s new rules, SoftBank’s investment, and the World Bank’s new tech.
Regulation
FCA reveals new rules to protect BNPL consumers
Companies will no longer be able to charge interest on money repaid within offer period.
H&R Block acquires Wave Financial for $398m
It follows Wave’s recent acquisition of Every.
PayU taps Turkey’s digital economy with Iyzico acquisition
The company also hopes to encourage cross-border trade with CEE countries and Africa.
FCA tackles overdraft rules on new consultation paper
It proposes more transparency for better customer experience.
CSSF warns UK fintechs about onsite visits
As part of its Brexit preparations, UK fintechs and payment services must also prepare for visits from the CSSF.
Top fintech stories this week – 7 June 2019
The FCA introduces new rules for P2P platforms, while Tink secures investment from PayPal, and more!
Iccrea chooses Appian platform to serve 4.2m Italian customers
Appian will automate key processes for the 142-strong banking group.
Video: fintech news weekly round-up – 5 June 2019
News on CIBC, NAB and Bank Leumi alliance, SoFi funding and more!
FCA introduces new rules for P2P platforms
P2P platforms must implement changes by 9 December 2019, but the application of MCOB is immediate.
Hinckley & Rugby Building Society live with iFinancial AML solution
AMLtrac has been integrated into Hinckley & Rugby’s Summit back office system.
Starling partners with paytechs Tribe and PelicanPay
Tribe launched at Money 20/20 Europe with UnionPay International deal.
Regtech Konsentus closes multi-million-pound pre-Series A round
The financing round was led by Mastercard.
Top fintech stories this week – 31 May 2019
The first Amadeus event on payments, a new Indonesian payment standard, and more!
Indonesia launches QR code standards
To facilitate payments across the poorer businesses in the country.
Raphaels fined £1.9m by FCA and PRA for outsourcing mismanagement
The bank didn’t properly manage the outsourcing of payment services.
Amadeus Future of Payments – payments integration in the travel industry
Round-up of the first Amadeus customer event in Madrid.
Video: fintech news weekly round-up – 28 May 2019
News on Facebook, Monzo, Transferwise, and more!
Deutsche Bank’s suspicious transaction reporting hit by software glitch
The problem has prevented flagging for almost a decade.
Nuvei Bidco acquires paytech SafeCharge for $889m
SafeCharge board unanimously recommends the deal.
European banks sign up to gpi trial on TIPS
Designed to smoothen out real-time payments in Europe.
TransferMate lands major deal with WellsFargo
The financial details haven’t been disclosed.
Five banks fined €1bn for rigging foreign exchange market
UBS escaped a European Commission penalty after exposing the cartels.
White paper: Shapeshifting – a look at the evolving landscape of cross-border payments
Discussing consumerism, PSD2, managing risk and the power of digital ecosystem.
Rabobank IDB works with Sopra for PSD2
The bank has taken a Sopra solution called the Digital Experience Platform (DxP).
Zenus Bank launches aiming to serve global clients
The US bank holds an international license.
Swiss bank prepares for PSD2 API regulations
It will provide APIs for third-parties for the Cornèrcard in the UK and Liechtenstein and Diners Club Card Italy.
KYC firm 4Stop raises $2.5m for fight against fraud
The Series A was led by Ventech.
New regtech FrankieFinancial signs up Xinja and Novatti
Aims to solve $4 billion legacy systems overhead problem.
JSE goes live with new real-time clearing platform from Nasdaq
First asset classes are migrated as part of JSE’s multi-year plan.
Two new next-gen banks to open in the US
Piermont Bank and Nexos National Bank.
Profile Software to provide wealth management support to MADA Capital
Omni-channel platform offers digital tools for wealth managers.
Hong Kong grants four more virtual bank licences
These banks will be launched by Ant Financial, Xiaomi, AMTD, Ping An, and Tencent.
Estonia ups requirements for virtual currency licences
In an attempt to avoid money laundering and terrorism financing.
Fenergo supports Bahrain’s blockchain-based KYC
It will support retail and corporate banking, with other sectors in the future.
Will KYT drive technology innovation in banking compliance?
The journey towards “know your transaction” has just begun, and the road ahead looks promising.
BlueVine and GovQuote team up to fund SMEs
SLED agencies can take advantage of GovQuote’s technology to get quotes and a complete digital record for compliance.
Top fintech stories this week – 3 May 2019
May issue is out!
PSD2: how new EU regulations will change the e-commerce game from September 2019
Winning combination: balancing security and compliance with scale and user experience.
Ethical bank Triodos prepares for Brexit
The Dutch bank has turned its UK operation into a wholly-owned subsidiary.
