Fintech Mode joins Hut Group wave with London IPO listing
Mode anticipates a valuation of around £40 million.
Europe
GoCardless bags new chief revenue officer to tap enterprise space
The fintech is currently drawing back its growth to preserve cash.
Klarna set to nearly double valuation to $10bn
Klarna is looking to raise half a billion from a mixture of new and old investors.
Metro Bank unveils new “15 minute onboarding” for SMEs
The bank’s new online journey auto-populates business data.
Regulators’ “fast and furious” AML fines don’t tell the whole compliance story
FinTech Futures speaks to Fenergo’s Rachel Woolley about the rise in penalties.
HMRC reveals £3.5bn in furlough payments sent in error
Around 5-10% of the scheme’s payouts have been made in error, says government body.
UK Finance scheme stops £19m of fraud in 2020
The Banking Protocol teams up police and bank staff to stop fraudsters in branches.
PSP fintech Mollie joins unicorn club with €90m Series B funding round
Mollie was bootstrapped until its first funding round last year.
Banking Technology September 2020 issue out now
Tipping point: Google vs Oracle showdown.
The PRIIPs EU stalemate: the story so far
The fate of the current PRIIPS Key Information Documents (KIDs) remains uncertain.
UK crime agency criticised for inaction over alleged bank forgery
“You can’t ‘assess’ for 15 months.”
Ex-Starling CTO’s start-up Ziglu launches crypto P2P payments
Ziglu insures digital assets against cyberattacks.
Starling Bank announces account and CHAPS payment charges
The UK challenger announces new structure days after rival Monzo.
Back & middle-office disruptor LemonTree launches first product
The start-up is challenging clients to get up and running in 90 days.
EPA lands new CEO in ex-Informa exec
Agnew will combine both his business strategy and event management experience.
Form3, Countingup and PPS create new SME offering
The SME market contributes around £2 trillion a year to the UK economy.
Ohpen acquires cross-border mortgage vendor Davinci
Dutch technology firm plans international expansion with new suite of products.
MarketFinance raises £50m to support CBILS “last minute dash”
Business lender plans to help applicants squeeze in before September deadline.
To win the battle of banking, you need a digital war room
Here, banks can get visibility into every single process in their business as they actually behave.
First Direct nabs new CEO from HSBC
Pitt comes with nearly 11 years banking experience.
Spanish lenders CaixaBank and Bankia mull €17bn merger
CaixaBank is about three times the size of Bankia.
Visa loses risk head Peter Bayley after 17 years
At Visa, Bayley held a number of roles which steered the firm’s fraud and risk management.
Tandem Bank sunsets credit cards, plans core restructure
Tandem’s Cashback Credit Card will shut down in February 2021.
Vanquis Bank partners with NatWest’s Payit
Payit was built by London-based, RBS-backed fintech, Pollinate.
Crealogix signs customer portal deal with German development banks
Due to go live in 2021 with support through to 2031.
RTGS Global kicks into gear to disrupt correspondent banking
RTGS has built its system on Microsoft Azure.
OakNorth appoints Raj Cherabuddi as VP of engineering
Former Teradata man to lead development of OakNorth’s credit platform.
Monzo introduces ATM withdrawal fees
Users may have to pay a fee when withdrawing upwards of £250 from an ATM.
Trade Republic launches share savings plan to rival incumbents
It claims to be the first to bring consumers the service for free.
Swedish Export Credit Corporation picks FIS for loan origination
SEK picks Commercial Loan Origination and FIS Ambit.
UK government seeks open banking revamp for HMRC
New contract worth £3m tailored to automating payments processes.
Impact of COVID-19 on M&A activity in the fintech space
The market is pricing a more positive outlook for banks globally.
UK government proposes digital ID cards, yet to unveil private partners
The potential of a government digital ID in the UK could impact the fintech industry.
Wells Fargo extends 25-year processing partnership with TSYS
US bank resigns for TSYS payments technology.
Wirecard sells communication services arm to German start-up IDnow
IDnow will keep the majority of the arm’s 150 employees.
Credit marketplace Auxmoney picks up €150m in new funding round
Existing investor Centerbridge now owns the majority of Auxmoney’s equity.
Singapore’s cross-border transfer fintech Nium lands EMI in UK
Nium evolved from a consumer remittance service to a B2B offering.
Cornerstone Brands plans acquisition of FXPress Payment Services
Men’s toiletries brand makes a move into payments.
ABN AMRO’s business finance fintech New10 loses CTO
“[We’ve] firmly cemented the digital lending category in the Netherlands,” says Boersma.
Modulr is first non-bank to launch Confirmation of Payee
The second product launch by the fintech since its £10m grant.
