Halal fintech Wahed lands $25m from Saudi Aramco’s venture arm
The Islamic finance industry is set to grow to $3.8tn by 2022.
FinTech
Indian SME fintech Zaggle partners with Visa to launch ‘Founders Card’
Both firms want to speed up access to credit for SMEs.
TransferWise hits £2 billion in customer deposits
Users can now send money with just a phone number.
Managing compliance in an age of innovation
Dell Technologies and World Wide Technology discuss the technology challenges facing FIs.
Developing industry-wide standards on DLT security will lead to wider adoption
To develop industry standards, four things need to happen.
Mobile banking platform Vivid Money launches in Germany
The challenger is working with solarisBank and Visa.
EY sued over Wirecard audit after management board comes under investigation
German regulator alleges Wirecard gave “misleading signals” for its stock market price.
US and French regulators team up to ease fintech market entry
Both regions want to boost their statuses as financial technology hubs.
PayTech Awards winners: where are they now? ANNA – Best Corporate Payments Initiative
ANNA has been busy onboarding customers and adding features to its platform for SMEs.
COVID-19: Highlight of the week
We focus on one particular coronavirus news item affecting the fintech industry.
DIFC dips into $100m fund to invest in four start-ups
The Dubai-based innovation centre plans for Series A injections to come.
Wealthify CEO steps down as Aviva seals acquisition
All three co-founders have taken exit options from Aviva’s investment.
Singapore develops “fairness metrics” for AI adoption in finance
The metrics will inform credit risk scoring and customer marketing.
The financially excluded – it’s not just who you think
In the UK, up to 8.8 million people are over-indebted.
Video: Top fintech stories this week – 05 June 2020
FinTech Futures’ weekly news round-up.
Onfido takes UK one step closer to digital ID
The fintech’s sandbox is regulated by the FCA.
Revolut accused of coercing 50 workers to quit their jobs
Lawyers have said that the firm’s actions can be read as unlawful.
UK e-commerce bank start-up YAN set to launch in October
The fintech says it will donate “at least” 10% of its revenue to charity.
Taiwanese challenger Next Bank to launch this year on Temenos
Chunghwa Telecom owns a 41.9% stake in Next Bank.
OakNorth partners with major US lender PNC Bank
The bank is using OakNorth’s COVID Vulnerability Rating (CVR) framework.
Banking Tech Awards 2020 now open for entries!
The awards are open to banks, financial institutions, technology and service providers, teams and individuals.
Monzo cuts 120 jobs in its UK head office
The redundancies account for roughly 8% of the start-up’s workforce.
SoftBank unveils $100m fund for founders of colour
SoftBank’s COO says the fund will help create “a new generation of founders”.
Varo raises $241m Series D with new investor Gallatin Point Capital
To date, the fintech has raised $419.4 million.
Libra’s Second Wind
Some say slow progress of blockchain adoption is not just because of regulatory hurdles.
On getting a job, but finding love. Every bloody time.
I don’t know how to not care.
Nubank soars ahead with 25m customers
In Q1 of 2020, Nubank acquired 42,000 users each day.
Tink lands second strategic investment from PayPal
As part of the deal Tink will cover all countries in EEA for PayPal.
Earnings on demand fintech Hastee rolls out Visa debit card
“Users visit our app on average one and a half times a day,” says CTO.
Breaking down challenges for challenger banks with Ohpen
“It’s not just about a sexy frontend or onboarding,” says CCO.
Appway raises $37 million in equity funding from Summit Partners
Lifecycle management firm secures first external capital raise.
E-book: The inevitable collision of identity proofing & authentication
How to achieve end-to-end identity verification and authentication in today’s digital world.
What the Fintech? Episode 6 | Digital disruption: entering new markets
Findr CEO Greg Watts provides his insight on creating a start-up amidst a global pandemic.
Truelayer signs payment initiation deal with UK government
The open banking firm has been added to the Payment Acceptance Framework.
Ugandan multi-currency wallet Eversend crowdfunds $706,000
The start-up has issued 8.74% in equity to investors.
Financial text message platform Stackin’ lands $12.6m
The fintech says it has more than one million subscribers in just one year.
Transact Bank partners with telehealth start-up Hopdoc
Transact Bank’s parent company Transact Pro will facilitate the payments.
iSignthis drops $1m on NSX shares to further rival ASX
The company’s subsidiary Probanx Solutions has bought 16.5 million NSX shares.
Open banking fintech Belvo lands $10m for Brazil expansion
The firm is also looking to hire between 40-50 new developers.
Locked out of Europe: fintechs holding the key to financial inclusion of refugees
Fintechs could, in principle, fill the void left by the large incumbents.
