World Fintech Report 2020: “Traditional banks are at a critical juncture”
“They must embrace Open X or risk becoming irrelevant,” says John Berry, CEO of Efma.
FinTech
Curve bags former PSR CEO as advisor on regulation strategy
Nixon managed the PSR for five years until last year.
Klarna exec jumps back into banking as CIO of Bluestep Bank
Klarna’s former VP of Engineering says he can’t wait to build “a mortgage bank for all”.
Singapore’s new blockchain industry group BAS launches
The group is the result of a merger between two 2018-founded entities.
Crypto Finance raises $14.5m in Series B funding
The new capital will help the firm gain a Swiss broker-dealer licence.
Explained: Protecting your ideas
Does your fintech need a patent? Does your invention need protection, or will you need something else?
Harnessing new technologies to stop today’s modern account takeover threats
Pairing face-based biometrics with certified liveness detection to crack down on ATO fraud.
Certified liveness detection a must for FCA recommended customer selfies
How to comply with the legislation and ensure that appropriate safeguards and additional checks are in place.
Trade Republic lands $62m in Series B funding
German firm secures one of the largest Series B funding rounds the region has ever seen.
UK government launches £1.25bn coronavirus Future Fund for start-ups
Start-ups can apply for loans between £125,000 and £5 million.
Spendesk co-founder departs after 12 month-long discussions
The remaining co-founders Ardant and Guilhem are gearing up to double the team again.
Varo Money takes on Moven’s consumer accounts
Accounts with Moven will shut on 30 April 2020.
Snoop launch a month early “to help households during coronavirus”
The fintech is headed by ex-Virgin Money CEO Dame Jayne-Anne Gadhia.
All things equal
Understanding where the industry stands at present in terms of the gender gap is essential to trying to address it.
The rise of P2P FX
P2P initiatives aimed at helping corporates transact more efficiently will continue to gain traction.
Video: Top fintech stories this week – 17 April 2020
FinTech Futures’ weekly news round-up.
What the Fintech? Episode 3 | Digital disruption: Bitcoin and stable coins
Tune in to hear what Gemini’s MD for Europe, Julian Sawyer, thinks about digital currencies.
Stripe bags $600m in fresh funding to hit $36bn valuation
Stripe recently added Zoom as one of its main customer.
Revolut lets staff swap pay for shares in the challenger bank
Revolut’s co-founders Storonsky and Yatsenko are forgoing their salaries for a year.
More than 275 accountancy firms ask UK government to plug gaps in SME aid
“Entrepreneurs face their business being crushed,” says the letter.
Robinhood is raising fresh capital at an $8bn valuation
It apparently made $60 million in March – triple what it made in March 2019.
FSB publishes consultation on stablecoin regulatory challenges
Regulatory body publishes recommendations in response to G20.
Hong Kong challenger ZA Bank picks OneSumX for regulatory reporting
The first virtual bank in Hong Kong selects Wolters Kluwer system.
Fintech investment tips: ETFs, CFD and beyond
Opportunities for traders are no less diverse in the modern market.
Santander’s money transfer fintech PagoFX launches in UK
Fees will not be incurred until 16 June 2020 for transactions under £3,000.
ThoughtSpot CEO: “We haven’t seen any cutbacks” due to our automation in banks
The banks ThoughtSpot works with are hiring more people to power its automation.
Identity verification platform Onfido bags $100m from TPG
The start-up wants to create an alternative “identity verification” layer for the internet
VibePay opens up APIs to SMEs, lands £1.25m funding
Originally planned for Q3 of 2020, the fintech brought the launch forward
Credit Kudos lands £5m Series A ahead of FCA’s credit market study
The capital raise was led by AlbionVC.
On making your bed and having a future
Giving the people who are building your future a reason to believe in you and your right for a future is survival.
Big data fintech GeoDB bags £1.37m from Seedrs investors
The UK fintech combines big data, blockchain and crypto into ‘Big – Crypto’.
OakNorth bags Modern Bank as second US customer
Modern Bank is a delegated lender under the CARES Act.
Indian challenger-to-be Jupiter raises $2m in venture funding
The new round comes as a top-up to a $24m injection from November 2019.
Sizing up the financially underserved market
There may be an even bigger opportunity for innovators to provide higher-quality financial products.
Ask the expert: how can I create a positive culture for my fintech?
Exploring ways to identify, secure, retain and develop the right talent for your business.
Visa invests in open banking platform Railsbank
The regtech firm gained extra capital from Japanese VC Global Brain.
Women-only neobank Elas to launch in Brazil
Elas was officially founded in January this year.
UK fintech Phos raises €1.3m
The round was led by New Vision 3, an early-stage VC based in Bulgaria.
Vietnamese fintech Finhay bags funding from Acorns’ co-founder
Acorns says the fintech is “revolutionising” access to wealth management.
Minna Technologies pilots subscription management for RBI’s Tatra banka
The pilot is part of RBI’s ‘Elevator Lab Programme’.
