FinTech Futures: Top five stories of the week – 27 January 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Capital One
Capital One lays off 1,100 tech staff
Impacted employees have reportedly been invited to apply for other positions at the firm.
Is customer experience at the centre of your digital transformation strategy?
To compete with fintechs, it’s best for banks to start with the customer experience and work backward.
Zopa hires former Monzo executive Robinson as new chief risk officer
Robinson spent two years with Monzo, and 15 years at Capital One.
Citi picks Capital One’s Naveed Anwar for digital head of TTS
The Capital One man is an industry veteran of 20 years across PayPal, eBay and AOL.
Capital One acquires SME travel fintech Lola
Lola announced a cessation of operations last month.
Capital One’s “wilful” AML failures land the bank a $290m penalty
Some $16 billion in reportable transactions passed through the bank’s platform.
2020 review: 10 largest regulatory fines this year
The fines kept flowing even in a year as turbulent as 2020.
Capital One takes swipe against “risky” BNPL firms
“These kinds of transactions can be risky for customers and the banks that serve them.”
Capital One fined $80m for 2019 data breach
US firm pays the price for hack that exposed data of 106m customers.
Lucy Hagues steps in as Capital One UK CEO
Hagues takes over from Amy Lenander, who heads stateside.
Capital One announces US branch closures
37 branches are set to be shuttered by the company as customers go digital.
Eileen Serra joins Capital One board of directors
She will stand for election by Capital One shareholders in April 2020.
Turn to commercial banks for treasury management innovation
Commercial banks are taking up a starring role.
Capital One reveals huge data breach by hacker
More than 100 million customers’ details were compromised in the incident.
Zelle Makes Presence Known in P2P Arena
The recent performance of Zelle Network, the P2P payments platform with the funny name, is no laughing matter for competing P2P providers. Early Warning Services, a provider of real-time payments, authentication and risk mitigation services, announced April 17 that its Zelle Network processed more than 170 million P2P payments in 2016, totaling $55 billion in transaction value.
