Weathering the storm: how savings providers can utilise tech to support their customers through the cost of living crisis
Putting in place the transformational changes needed to keep up with customer needs and expectations.
Savings
Atom Bank lands £30m funding to boost lending and fuel growth
The new cash means the Durham-based challenger bank has now raised £105 million over 2022.
UBS partners iProov for automated customer biometric ID onboarding
With face verification tech, UBS key4 customers can onboard remotely in five minutes, iProov says.
Dubai-based fintech Leap aims to improve youth financial literacy
The Dubai-based start-up wants to improve youth financial literacy, targeting the under-18s.
Financial wellbeing platform Brightside raises $33m in Series B funding
The firm says it will use the fresh funding to enhance its platform and fuel its growth.
TIAA agrees to sell its banking arm to suite of investors
The firm says the move will allow it to “refocus” on its retirement business.
New fintech start-up in the US for homeowners – Saivy
Saivy’s mobile app is in development and the start-up is currently accepting subscribers to its waitlist.
Nottingham Building Society hires first chief technology and transformation officer
Paul Howley joins from Yorkshire Building Society, where he was interim chief operating officer.
Wells Fargo partners Google Cloud for AI virtual assistant, Fargo
Fargo will leverage Google Cloud’s conversational AI platform Dialogflow to offer personalised banking tips.
FinTech Futures: Top five stories of the week – 21 October 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Apple and Goldman Sachs to launch savings account for Apple Card
The savings account will allow Apple Card users to deposit their “Daily Cash” rewards automatically.
Cleo names Anita Woods as new VP of product
In her new role, Woods will be responsible for leading Cleo’s product strategy.
Tink and Snoop team up to help UK customers navigate cost-of-living crisis
“This partnership is designed to help everyone get on top of their finances,” the two firms say.
Sibos 2022: “Skyscanner for money” – money as subscription service
In the future, we’ll all have our own “Skyscanner for money” working for us, believes VC Innovations’ Lisa Moyle.
Family-focused financial wellness app Fr33m3n gears up for launch
The app will offer financial literacy programmes such as lectures, tutorials, podcasts and webinars.
Two new fintech start-ups in Turkey – Lidsi and Turan
Lidsi is a savings app launching in January 2023, and Turan is an all-encompassing financial application.
White paper: Digital banking – why is it becoming so important to financial organisations?
Fintechs are showing significant growth – learn how banks can stay competitive and efficient.
New challenger bank in India for young professionals – Shelf
Shelf was recently accepted into start-up accelerator Y Combinator’s Summer 2022 batch.
DeFi for the masses — crypto investment platform Solvo readies for launch
Solvo will offer investments, savings, crypto buying and selling as well as a card for payments.
Singapore’s GXS Bank launches with savings product for the underbanked
GXS wants to address the pain points of the two in five Singapore residents who are currently underbanked.
New digital bank Trust launches in Singapore
Trust Bank’s shareholders have invested $285 million in the new challenger.
Nationwide partners Moneyhub for open banking payments tech
Moneyhub’s open banking PIS technology allows savers to add money to accounts from day one.
GB Bank receives full banking licence, set to lend £3bn over five years
The bank will support the creation of more than 100,000 jobs and 20,000 new homes.
Zopa founder Giles Andrews joins Hoares as non-exec director
Andrews founded Zopa in 2004 and is currently a member of the fintech unicorn’s board.
Bank Islam taps Kestrl to offer financial management tools in Be U app
The firm will incorporate Kestrl’s personal financial management tools into Be U by the end of the year.
Timberland Bank taps Plinqit for financial wellness and savings tools
Customers can now access digital tools designed to improve financial literacy and establish saving habits.
Passive micro-investing app upnup launches in South Africa
The company says micro-investing is a good first step into the space, providing “investment on auto-pilot”.
Great Western Credit Union completes merger with Stroud Valleys Credit Union
GWCU says it now has a combined total of over 21,000 members.
Bank Islam Malaysia Berhad launches new banking app, Be U
The fully cloud-native digital banking app aims to broaden financial inclusion in Malaysia.
Rabobank selects US fintech InvestCloud for financial planning tools
Goal-based financial planning features will be made available to Rabobank’s customers.
Pennyworth partners Moneyhub for financial planning tool
The offering is targeted towards those with salaries between £40,000 and £150,000.
How Zolve is helping US immigrants land on their feet
Zolve helps immigrants accelerate their financial health through products that build wealth in the long run.
Gen Z financial assistant app Cleo raises $80m at $500m valuation
Cleo will use the funds to shore up and expand its services as a global economic winter begins to bite.
Canadian wealthtech Wealthsimple sheds 12.6% of workforce due to market volatility
As well as the layoffs the wealthtech will be “laser-focused” on core businesses investing, banking and crypto.
Allegacy FCU taps enterprise tech provider NCR for data analytics solution
Allegacy FCU says partnership will “make data actionable, unlock predictive insights and drive innovation”.
FinTech Futures: Top five stories of the week – 20 May 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
UK challenger Atom hires Andy Sturrock as CTO
Atom Bank’s new CTO wants to take the bank’s technology “to the next level”.
Nude partners GoCardless to deliver VRP inter-account payments
Via the GoCardless network Nude will be among the first in the UK to leverage Variable Recurring Payments (VRP).
UK fintech start-up Tumelo raises $19m Series A
Tumelo helps investment platforms, robo-advisors and pension providers engage investors with shareholder voting.
US fintech MainStreet lays off 30% of employees
CEO Doug Ludlow cites “today’s incredibly rough market” as the reason for the layoffs.
