UK MP says BNPL firms are “next Wonga waiting to happen”
Just 22% of the nation didn’t carry personal debt into 2021.
Europe
Starling renews search for non-bank European lender
Starling is seeing the benefits of fully utilising its UK banking licence.
Irish banks plan payments rival to take on fintech entrants
AIB, Bank of Ireland, TSB, and KBC pull together to battle fintechs like Revolut.
Polish consumer protection regulator investigates CD Projekt over Cyberpunk 2077
The UOKiK can fine the studio up to 10% of its annual revenue if it finds fault with its refund policy.
Freetrade pauses trading for US stocks following technical issues
Some investors woke up to their US stocks up over 2000%.
Temenos wins Transact deal with Czechzia’s Komerční banka
The bank is aiming to launch products to the market faster.
Checkout.com valued at European record $15bn after $450m raise
Profitable since it began, Checkout is an attractive proposition for investors.
FCA warns crypto investors could “lose all their money” after Bitcoin dips again
“Operating without a registration is a criminal offence,” says the FCA.
IHS Markit acquires compliance firm Cappitech after year-long partnership
Cappitech had provided its platform for Markit’s SFTR system.
Curve lands $95m as it reveals losses have quadrupled
The fintech claims to have two million customers.
ECB hires Claudia Plattner as new IT director
Plattner is CIO for Deutsche Bahn’s IT provider.
Revolut applies for UK banking licence to boost primary account numbers
Fintech unicorn seeks to transition to full bank in the UK.
Tackling mobile fraud in 2021
Mobile numbers and associated SIM information have become even higher prized targets for fraudsters.
Fintech funding deals globally 4-10 January 2021
Featuring Grab, Mynt, Divvy, Mambu, and SimpleNexus.
UK Treasury calls for input on planned regulation of cryptoassets and stablecoins
UK’s finance ministry says “the landscape has changed” in a short time.
How FIs can reduce friction and drive value in the payments system
FIs can help clients proactively identify and respond to potential problems.
Central Bank of Ireland urges firms to contact UK banks over Brexit
Creditors with direct debits in place for UK customers may need to provide their bank with additional info.
Mambu raises €110m to hit €1.7bn valuation
Cloud core banking vendor has raised over €150m since launch.
Lloyds & Santander among major banks struggling with online security
Lloyds and Santander also fell behind NatWest, Nationwide, Metro Bank, and Virgin Money.
FCA: Thousands of financial firms risk failing as pandemic persists
Payments and e-money firms experienced an 11% decrease in available liquidity.
Orange Bank acquires challenger Anytime to expand SME focus
Anytime to fall under the Orange brand as it looks to scale up for businesses.
TagPay to boost its systems with €25m investment from Long Arc Capital
New York-based private equity firm takes majority stake in core banking vendor.
Nets acquires Checkout Finland through Paytrail subsidiary
Nets happy to continue a wave of consolidation across European payments.
UK challenger Cashplus buys icount’s current account portfolio
“I remember acquiring our first cardholder,” says icount founder.
HSBC signs multi-year AML partnership with Polish fintech Silent Eight
The bank’s global compliance division will deploy the Silent Eight’s resolution alert system.
Calls for change to LSE in bid to attract more multinational tech firms
The UK’s Investment Association (IA) is asking for the LSE to undergo a “rebranding”.
InvestSuite raises €3m in third seed funding round
Wealthtech firm plans to take advantage of a digitising industry.
Israeli remittance fintech Rewire targets one million customers by end of 2021
Rewire currently boasts more than 200,000 European accounts.
Unihomes snaps up Sheffield-based fintech Split the Bills
Unihomes, also based in Sheffield, bundles up university accomodations with bills.
UK challenger B-North raises £250,000 and signs deal with Channel 4
Channel 4 signed an advertising-for-equity deal.
Santander: Digital lenders have unfair regulatory advantage post-pandemic
“The pandemic will only entrench the digital players,” says Botín.
Oxbury plans 2021 launch after fresh £15m injection
Challenger bank for farmers receives investment from Duke of Westminster’s estate.
Calls for UK Treasury to up contactless limit from £45 to £100
The UK no longer needs to follow the EU’s €50, or £45, contactless limit.
2020 in review: Top core banking stories
We run down the most interesting core banking stories from this year.
2020 review: A year which saw fintechs cut jobs, pay & business arms
A number of fintechs have still been tested during COVID-19, some to the brink of collapse.
2020 review: 10 largest regulatory fines this year
The fines kept flowing even in a year as turbulent as 2020.
10x Future Technologies eyes $100m in Series C round
Its founder has hired financial advisory group, Lazard, to oversee its funding round in 2021.
2020 review: 10 largest bank job cuts this year
This year has seen several job cut announcements.
Denmark to join Eurosystem’s Target2 payment platform
T2 would then include the Danish krone by November 2025.
FCA makes major changes following LCF and Connaught review
Firms that have not used their regulatory permissions for the last 12 months are at risk of having it revoked.
