Commerzbank shareholder calls for 7,000 job cuts
Cerberus Capital Management makes demands of German bank.
Europe
Is your bank rotten to the core?
In banking, a legacy product core based on old technology can’t simply be modified.
Elevate Credit ceases UK operations
It will no longer be operating its wholly-owned UK unit, ECIL, under the “Sunny” brand.
UBI Banca offers digital salary backed loans with FinLeap
The partnership is through the bank’s subsidiary Prestitalia.
Sopra Banking Software taps Tink’s data channel
Sopra Banking Software serves roughly 1,500 banks and financial institutions.
Millennium Banque Privée outsources Olympic system with Swisscom
Switzerland-based firm moves core banking to the cloud.
Allica Bank goes live on Profile platforms
FMS.next and RiskAvert deployed at SME challenger bank.
Andreas Bittner steps down as co-founder of solarisBank
His five-year contract with the banking-as-a-service platform came to an end on 30 June.
Société Générale to acquire French neobank Shine
The deal is thought be be around €100 million.
TransferWise lands licence from FCA to offer investment products
The move marks its second side-step from cross-border payments.
Six new lenders accredited for UK CBILS
There are now 99 CBILS accredited lenders.
Wirecard’s UK subsidiary WCS: missed red flags
Red flags include late 2018 financials and a €156,000 lost lawsuit.
65% of banks say legacy systems holding back Swift gpi adoption
Volante, HSBC and Deutsche Bank, share their insights on a recent webinar regarding Swift gpi.
TransferWise partners with two Swiss banking services
TransferWise will tap neon’s 30,000 users.
Bud launches open banking solution for payments
CEO Ed Maslaveckas says aggregation is “least disruptive” part of open banking.
Santander looks to William Vereker for UK chairman role
The appointment is expected to be approved later this week.
ING Belgium deploys Minna Technologies’ subscription manager
ING Belgium has roughly 1.8 million digital banking customers.
FCA lifts restrictions on Wirecard Card Solutions
UK watchdog allows payments to restart.
solarisBank lands $67.5m in Series C round
The funding was led by German VC firm HV Holtzbrinck Ventures.
Italy’s Generali considers Brightsphere acquisition in US
The insurance giant is looking to expand its US footprint.
Resurs Bank’s new CEO prioritises open banking
The Swedish bank has roughly 6.2 million customers.
What the Fintech? Episode 8 | Payments: were systems in Europe ready for COVID-19?
Tune in to find out an eyebrow raising banished buzzword in another rendition of ‘Fintech Jail’!
IDnow hopes to bring video authentication to UK banks’ onboarding
Customers include Commerzbank, solarisBank, N26, and UniCredit.
HSBC wants to double mobile users by 2022
The bank wants to generate more revenue per customer.
SEB fined $107m by regulator for Baltic AML failures
The Swedish bank failed to identify risk among its subsidiaries.
Report: Five success factors for an ideal ISO 20022 migration
ISO 20022 represents an opportunity for banks to reinvent the way they operate.
solarisBank enables instalments for German AmEx customers
AmEx users can spread payments of more than €300.
Curve gets services back online over weekend
The fintech is still working on third party digital wallet usage and refunds.
Newly licensed RevoluPAY taps global remittance market
The fintech landed its PSD2 licence in Spain at the end of May.
ING taps Expert System to boost back office automation
The Dutch bank is aiming to improve its application of RPA.
Two UK credit unions go live on ClearBank & incuto tech
Hoot Credit Union and Lanarkshire Credit Union activate faster payments.
FCA suspends Wirecard’s UK subsidiary
This has prompted a handful of fintechs to issue warnings to their customers on Friday.
Wirecard files for insolvency amid accounting scandal
The paytech owes creditors almost $4 billion after disclosing a gaping hole in its books.
Lanistar partners with Jumio ahead of “polymorphic” debit card launch
Lanistar landed a $2.5 million seed investment in March.
Aviva taps Fenergo to revamp client onboarding systems
Fenergo will switch out Aviva’s KYC, AML, and CDD services.
Privitar receives $7m investment from HSBC
HSBC is expanding its strategic relationship with Privitar.
Anna Manz appointed new CFO of LSE
Manz succeeds eight-year LSE veteran David Warren.
NatWest launches its no-card payments service Payit
The service uses open banking infrastructure.
Five ways to streamline your online checkout process
The commercial case for streamlining the online payments process is clear.
OBIE UK’s open banking body launches app store
The launch date was moved up because “open banking can make life easier in lockdown”.
