Volt Bank partners with Microsoft to launch BaaS platform
Volt aims to provide retailers and incumbent banks with digital banking services.
Retail Banking
Sustainability fintech Helios aims to reduce users’ carbon footprints
French fintech wants to help users reduce the impact of their spending on the planet.
Leaked FinCEN files show banks allowed $2trn in suspicious transactions
Major leak of suspicious activity reports shows “mind blowing” scale of money laundering issues.
West African microfinance confederation goes live with SAB’s AT
SAB AT rolling out across six institutions in five West African countries.
FinovateFall 2020: Customer trust will test the new digital normal
Panel wonders if consumers will stick with digital solutions post-pandemic.
Tesco Bank launches Pay by Bank in partnership with Mastercard
UK bank rolls out new service to 2.6 million customers.
Citigroup restarts job cuts after coronavirus pause
US lender plans big infrastructure changes in the final months of the year.
Citizens Bank app bombarded with bad reviews as tech update goes awry
US bank experiences avalanche of bad feedback over mobile changes.
Elevations Credit Union selects Temenos Infinity for front office revamp
The Colorado-based credit union wants to change its member experience.
FinnovateFall 2020: Digital tools creating a new kind of banking customer
Marcus executive says banks must prepare for a post-COVID world.
Ex-N26 employee lands $1.8m to launch ETF-linked checking account
“This is an everyday account, we don’t want you to risk your money,” says CEO.
EXCLUSIVE: Oracle wins deals with Mashreq Bank and Desjardins
Oracle has also picked up a new deal in Bangladesh.
Hong Kong virtual bank Livi picks Wolters Kluwer for regulatory reporting
New bank wants OneSumX to cover its compliance.
IDC Snapshot: Improving operational excellence and customer experience in retail banking
Organisations that have a common business and technology roadmap have had more success than those with separate plans.
NAB and CommBank race to launch no-interest credit cards
The Australian banks are reacting to the proliferation of buy now, pay later firms.
JP Morgan fires staff for COVID-19 relief funds fraud
The largest bank in US clamps down on suspicious staff activity.
IDC Snapshot: Establishing operational resilience to achieve customer excellence
The ability to simplify & streamline tech supporting important business services, leading to better customer outcomes.
TPBank revamps back office technology with Backbase
Vietnamese bank launches new products in nine months.
GAO urges FDIC to stop examiners fishing for bank jobs
Congress’s investigative branch calls on bank regulator to do more.
Regulators’ “fast and furious” AML fines don’t tell the whole compliance story
FinTech Futures speaks to Fenergo’s Rachel Woolley about the rise in penalties.
UK Finance scheme stops £19m of fraud in 2020
The Banking Protocol teams up police and bank staff to stop fraudsters in branches.
The PRIIPs EU stalemate: the story so far
The fate of the current PRIIPS Key Information Documents (KIDs) remains uncertain.
Starling Bank announces account and CHAPS payment charges
The UK challenger announces new structure days after rival Monzo.
Neon raises $300m in Series C funding to offer underbanked credit
Brazilian challenger back secures Series C in same week as competitor Nubank.
Tandem Bank sunsets credit cards, plans core restructure
Tandem’s Cashback Credit Card will shut down in February 2021.
OakNorth appoints Raj Cherabuddi as VP of engineering
Former Teradata man to lead development of OakNorth’s credit platform.
EXCLUSIVE: Bank Alfalah selects Oracle Flexcube for corporate banking
Oracle’s system to run alongside Temenos T24 for retail.
First Bancorp completes $1.1bn acquisition of Santander Puerto Rico
The merger is expected to complete in Q2 2021.
Viva Republica raises $173m for “one-stop” financial app
The tech company plans to diversify financial market in South Korea
Varo Bank goes live on Temenos Transact core banking system
New US bank prepares for post-launch life with Temenos.
Video: Top fintech stories this week – 28 August 2020
FinTech Futures’ weekly news round-up.
Co-operative Bank plans 350 job cuts, 18 branch closures
The UK bank reacts to an increasingly online demand.
Atom Bank plans £150m shareholder funding round
UK challenger bank aims for largest shareholder round to date.
TD Bank pays $122m for obscuring overdraft penalties
US bank charged by CFPB for anti-consumer practice.
Triodos Bank signs ATM outsourcing contract with Cardtronics
The bank’s Spanish ATMs to be managed by the tech firm.
Manzil launches Halal Visa card in partnership with Koho
Canadian firms partner up to debut new card.
FIS debuts subscription-based core banking for US community banks
The US vendor aims to supply community banks with bundled software.
Robinhood’s value tops $11bn on new funding round
The new valuation increased by nearly one-third from a previous round just one month ago.
N26 loses chief product officer Georgina Smallwood
Smallwood departs N26 to join a Berlin scooter firm.
Wells Fargo compliance chief Mike Roemer steps down
The major US bank is undergoing a risk restructure.
