WorldRemit chooses Onfido to further automate its account onboarding
Onfido will automate WorldRemit’s KYC decision-making process.
FinTech
Nordea-backed subscription manager Subaio lands challenger bank Lunar
The Nordic bank has 150,000 customers.
Billon pilots digitised national currency with Raiffeisen Bank
If successful, the project could be deployed to RBI’s CEE countries.
Brex lands $150m to continue small acquisition spree
In March, Brex acquired three San Francico-based start-ups.
Unsolicited advice on unsolicited advice
Good advice is measured, informed & situation-specific. Our industry has thrived on producing generic postulations.
Dubai fintech Ziina lands $850,000 and launches P2P payment app
The start-up’s funding round was led by San Francisco-based Class 5 Global.
Six new UK lenders approved for CBILS including fintech iwoca
CBILS grants have accounted for £7.25 billion in crisis cashflow for SMEs.
Rimilia appoints new board chairman as part of wider exec shake-up
The fintech has also appointed a new CTO and CPO.
Anquan Capital partners with crypto arm of Germany’s WEG Bank
The partnership includes an undisclosed investment from Anquan.
New digital business models depend on agile and adaptive compliance processes
Flexibility, rhythm, and simplification are vital in helping institutions survive and thrive in this riskier world.
Streamlining remittance, empowering migrant workers & driving inclusion worldwide
The ability to send money home is critical, but not always easy for migrant workers.
Swiss fintech Lykke launches blockchain initiative with ‘Crypto Dad’
“We have to leverage the tech that’s there,” says Lykke’s CEO.
Myanmar’s Wave Money lands $75.3m from Ant Financial
Wave Money has tapped more than 21 million people in Myanmar.
Longevity Card lands investment from Deep Knowledge Ventures
The card will launch in the UK and Europe in early Q4 2020.
Former Sberbank employee to tap Europe with challenger Intruder
Payments will be able to work in messenger apps via a bot.
UK SME lender B-North adds TruNarrative to its tech stack
The two have been working together since early 2019.
Singapore fintech Spark Systems lands $10.5m from Citi and HSBC
These heavy weight investors join existing backer Goldman Sachs.
COVID-19: Highlight of the week
We focus on one particular coronavirus news item affecting the fintech industry.
Nordea partners up with Tink on open banking
It’s set to launch for the bank’s users in Norway, Finland and Denmark “in the coming months”.
WeChat to offer credit scoring to its 600m users
Th Big Tech will attribute “payments points” to determine a “trust” value.
UK fintechs Tide and Liberis land loan accreditation
Tide is aiming to get loan delivery up and running today.
HSBC launches e-wallet PayMe for teens in Hong Kong
The adult version already has 1.9 million customers across Hong Kong.
SME fintech ANNA bags £17.5m from ABHH Group
The investment values it at $110m, with the founders keeping a 40% stake in the start-up as part of the deal.
Video: Top fintech stories this week – 15 May 2020
FinTech Futures’ weekly news round-up.
Monzo’s valuation plummets 40% to £1.25bn in latest fundraising
The fintech was valued at £2 billion last June.
Green Dot bags Walmart exec as part of bigger strategic overhaul
The firm also appointed a new CEO in March.
Freetrade sets new record on Crowdcube with $5m raise
The round is its sixth crowdfund to date.
Ghana becomes first African country to introduce universal QR code
Both smart and ‘yam’ phones can pay through QR codes.
Ecosystems evolution
Five focus points on how organisations can coexist and grow in the ecosystem.
NICE Actimize and Infosys extend cybersecurity partnership
Technology firms tie up new collaboration.
Agora Services launches white label teen account for Finastra
Agora’s CEO says the app launch is “related to” the Revolut Junior launch in the UK.
Insurance financer Bexhill UK applies for banking licence
Founded in 2000, Bexhill UK works with roughly 250 brokers.
Starling Bank and Funding Circle team up to provide £300m in CBILS loans
The fintechs say the partnership will help more than 4,000 small businesses.
Marcus cuts easy-access saver rate again to 1.05%
On 19 March, the Bank of England cut its base rate to 0.1%.
Singapore launches $4.2m grant scheme for its fintechs
Applications for the grant scheme will open on 18 May 2020.
Featurespace raises £30 million in venture funding
Anti-fraud company nabs new injection to support growth.
Six fintech innovations that bank lenders must embrace – and fast
Here’s a review of cutting edge tech.
High school jocks living their best lives
Those who feel the place you are offering them into the future is not shiny enough, can and will be left behind.
Banking Technology May 2020 issue out now
Hope springs eternal: discovering alternative lending in times of crisis.
Fidor Bank loses O2 mobile banking contract
The contract began back in 2016.
