Deutsche Bank resumes job cuts during coronavirus
“We decided to further accelerate our cost reduction program,” says CEO.
Europe
Insurance financer Bexhill UK applies for banking licence
Founded in 2000, Bexhill UK works with roughly 250 brokers.
Will COVID-19 drive mortgage transformation up a gear?
The market needs to step up its efforts to better engage borrowers on their mortgage options.
Starling Bank and Funding Circle team up to provide £300m in CBILS loans
The fintechs say the partnership will help more than 4,000 small businesses.
Marcus cuts easy-access saver rate again to 1.05%
On 19 March, the Bank of England cut its base rate to 0.1%.
Niche Global picks Volante to underpin European entry
Hong Kong payments firm plans market expansion with Volante.
Featurespace raises £30 million in venture funding
Anti-fraud company nabs new injection to support growth.
Banking Technology May 2020 issue out now
Hope springs eternal: discovering alternative lending in times of crisis.
Fidor Bank loses O2 mobile banking contract
The contract began back in 2016.
Partnerships to drive industry forward in post-COVID world
The coronavirus pandemic has caused immediate changes to the financial services industry.
Modulr lands £18.9m in growth funding to fuel market expansion
The latest investment takes Modulr’s total funding received to £53.3 million.
Revolut announces redundancy of 60 employees due to coronavirus
“We have made every effort to protect every job,” says fintech.
Global fintech sees worst Q1 since 2016 for VC-backed deals
The quarter saw just 404 deals and ended on $6.1 billion.
Fintech bridges and risk in the UK
These are seen by some to be a post-Brexit policy to ensure that the UK does not lag behind.
Swedish financial regulator picks BearingPoint to boost data analysis
The Financial Supervisory Authority plans to digitise EBA, EIOPA, and ESMA reporting data.
Temenos helps UK banks speed up BBLS distribution “in days”
UK banks have seen a surge in demand for BBLS loans.
Merchant payments fintech Primer raises £3.8m
The newly-launched fintech has secured investment from Balderton Capital.
Swiss private bank Lombard Odier launches fintech strategy
An active portfolio of 50 well-diversified stocks will be put together.
European Commission plans to plug gaps in AML and CTF rules
The EC wants to “shut down” any “loopholes” and remove any “weak links” in current rules.
Pandemic forces corporations to balance technology investments on risk and agility
125,000+ staff working remotely, 3m chat messages, 780,000 video & internet calls a day – how did Santander do it?
A bumpy road for alternative lenders
Coronavirus crisis opportunities for alternative lenders come with big risks.
Why alternative lending will be essential to save UK SMEs
This makes it the ideal tool to help SMEs through COVID-19.
N26 lays off 10% of New York-based workforce
The losses are the first to be put down to operational reasons.
Avaloq extends contract with First Abu Dhabi Bank in Switzerland
The deal entails using Avaloq’s business process-as-a-service (BPaaS) systems.
Monzo bags banking veteran as its new head of global financial crime
Laramy comes from Barclays, Santander and US bank Capital One.
Business banking app Countingup lands £4m led by ING
ING says Countingup is a “digitally disruptive solution”.
Russia’s VTB turns to automation for customer claims
VTB wants to reach 70% automation in its claims’ operations.
Paysafe snaps up Standard Chartered director for chief banking role
Sharp will be in charge of the firm’s payment partner networks.
Making a case for payment initiation services (PIS)
It’s a cheaper, faster & more secure method for online payments, so why aren’t PIS being more widely used?
Payments start-up Banked raises £2.3m in seed funding
Real-time payments firm aims to challenge incumbent dominance.
Kestrl to offer UK consumers ethical banking alternative
The debit card launch is expected sometime in Q3 following a June beta.
IBM, R3, Mastercard, and Accenture form Trust over IP Foundation
The group want to create a standard for a decentralised digital identity exchange.
Newcastle Building Society names Manila McLean as new CIO
Manila joined the firm from Tesco Bank in 2019.
Nine new UK lenders get approved to issue CBILS
The BBB now has more than 60 accredited lenders handing out CBILS grants.
Masthaven Bank shakes up leadership with new CEO
Leigh Bartlett moves into the CEO position as founder Andrew Bloom steps back.
Revolut seeks acquisitions with struggling travel firms
“A lot of travel aggregators are in trouble at the moment,” says CEO.
UK challenger 220 lands former Standard Chartered COO as adviser
Angela Knight worked at Standard Chartered for an uninterrupted 22 years.
Alpian lands $12.6m in Series A
Alpian is applying for its own banking licence.
Citi’s Proxymity lands $20.5m from HSBC, JP Morgan and Deutsche Bank
The funding round will see it become its own London-based entity.
Cash deposit platform Flagstone lands £12m funding
Since 2015, Flagstone says it has facilitated £5 billion in deposits.
