Canadian invoice firm FundThrough raises $50m to support SMEs
FundThrough aims to eliminate the “wait” for SME payments
Financial Services/Finserv
Stripe acquires Nigerian start-up Paystack in $200m deal
Paystack has 60,000 business customers across Nigeria and Ghana.
TD Bank files lawsuit against Plaid for “duping” its customers
The bank claims Plaid is violating its trademark and tricking customers into handing over data.
Kish Bank picks CSIs NuPoint to fuel digital change
Bank says CSI has been behind it “all the way.”
CUNA Mutual Group acquires lending platform CuneXus
CUNA has been an early-stage investor in CuneXus since 2017.
Future economic relief should care for more families
Deserving families have continued to be unfairly excluded from government relief throughout the COVID-19 crisis.
TCO Report: on-premise storage vs public cloud storage
The guide to economic advantages of on-premises object storage vs public cloud for enterprise data storage.
Video: Top fintech stories this week – 16 October 2020
FinTech Futures’ weekly news round-up.
Canadian robo-advisor Wealthsimple lands unicorn status with $87m raise
Wealthsimple serves some 1.5 million users.
Morgan Stanley fined $60m for improper disposal of personal data
The OCC found examples in 2016 and 2019 of failure to oversee third party companies.
The end of apps
Is it time that we jumped from the app bandwagon?
JP Morgan Chase partners with Greenlight for kids account
The JPMorgan Chase app has around 39 million ‘active’ customers.
OCC issues $85m penalty to USAA Federal Savings Bank
Military-supporting lender found to have failed risk management.
Why the focus on risk weighted asset optimisation is increasing
Many banks have started formulating an action plan and framework to drive this initiative within their organisation.
Ex-Revolut execs form start-up investment firm Expansion Capital
Of its 15 investments, three were founded by Revolut alumni.
Central bank digital currencies – don’t get the popcorn
If the art of the possible is being explored, the art of the valuable remains elusive.
Marqeta bags undisclosed Mastercard investment
“We want to invest in products, in customers and invest in continuing to grow globally,” says Marqeta.
The imperatives behind BFS
The current crisis highlights the urgent action required for businesses to upgrade to digital platforms.
Webinar: Accelerating growth & building resilience in corporate banking – benefits of moving to open APIs
72% banks have seen an increase in the integration of corporate banking APIs this year. What’s you organisation doing?
Affirm files IPO application, but financials are confidential
Fintechs in the BNPL space have seen their valuations rocket.
Breaking down walls
FinTech Futures took this somber moment to sit with Keisha Bell at DTCC.
Video: Top fintech stories this week – 09 October 2020
FinTech Futures’ weekly news round-up.
Sibos 2020: Citi’s CEO calls on banks to deliver social justice
“We have a larger obligation to deliver fairness.”
Bank of America teams up with Black-owned Unity bank
BoA has acquired approximately 5% of the bank’s common equity.
LendingClub shuts retail P2P offering as it focuses on institutional investors
The fintech allowed consumers to invest in Notes, corresponding to fractions of loans.
Banks must empower SME clients with more than a repackaged retail account
“Once you strip back a lot of the functionality in retail banking it’s more about experience than solving issues.”
Citi invests in markets software firm Genesis Global Technology
The undisclosed strategic injection sees Citi deploy some Genesis tech.
Banking Technology October 2020 issue out now
Educate, advocate, invest: It’s not enough for companies to pay lip service.
FinTech Futures Jobs: eight tips for landing a job in a new city
And make sure to check out Fintech Futures Jobs for a variety of excellent vacancies!
Sibos 2020: Future artist
I see growing companies. I see ambitious professionals. I see evolving stories.
Sibos 2020: SmartStream advances AI solutions for data management
The new tech “enables non-IT staff to take multiple complex data sets and compare them within seconds”, says CIO.
Goldman Sachs to buy General Motors’ credit card portfolio
Goldman reportedly beats Barclays to nab consumer credit pool worth $8.5bn.
The value of 20/20 hindsight
Anders la Cour, co-founder and CEO of Banking Circle, examines the lessons of 2020.
Sibos 2020: Industry has widespread “dissatisfaction” with transaction monitoring
Costs, compliance and confusion need to be solved by new technology, says panel.
Daily News at Sibos 2020
Download your free copy of the Sibos supplement today!
Digitalisation Component Framework: an inside-out approach to digital transformation
Discover new areas where automation can be implemented & improve efficiencies without replacing existing systems.
Sibos 2020: JP Morgan CEO tells banks “don’t outsource your soul”
Jamie Dimon believes plenty of outsourcing firms “have no idea what they’re doing”.
Sibos 2020: Banking Circle launches POBO and COBO payments transparency solutions
The solutions are available globally through Swift, Faster Payments, CHAPS, SEPA and local clearing.
Temenos hires Roger Klantschi as EVP for Americas
Former Infosys veteran joins Temenos to build on US drive.
Video: Top fintech stories this week – 02 October 2020
FinTech Futures’ weekly news round-up.
