ING subsidiary Payvision accused of pushing €131.2m in fraudulent payments
ING acknowledges the claim, but cannot comment further at this time.
Netherlands
ING pumps brakes on digital banking plans, plans 1,000 job cuts
Dutch bank forced to pull back on widespread CX changes after €140m already spent.
European lender Capitalbox buys rival Dutch arm of Spotcap
The deal marks Spotcap’s exit from the direct lending market.
Rabobank outsources regulatory reporting with BearingPoint
BearingPoint to take on a slice of Rabobank’s European reporting needs.
Sibos 2020: ING’s CEO urges regulators to give banks a PSD2 equivalent
Van Rijswijk is “strongly advocat[ing]” that regulators come up with an equivalent for banks.
ING consolidates innovation arms into ING Neo, Legrand to step down
ING’s Annerie Vreugdenhil is set to head up ING Neo come January 2021.
Finom raises €10m in pre-Series A investment to expand in Europe
Netherlands-based challenger aims to launch in France and Germany in 2020.
Trio of European start-ups raise fresh funding
Factris, KodyPay, and Swan all complete funding rounds this week.
Subaio launches outside Nordic home with ABN Amro
To date, the 25-person fintech has signed contracts with seven banks.
PSP fintech Mollie joins unicorn club with €90m Series B funding round
Mollie was bootstrapped until its first funding round last year.
Ohpen acquires cross-border mortgage vendor Davinci
Dutch technology firm plans international expansion with new suite of products.
ABN AMRO’s business finance fintech New10 loses CTO
“[We’ve] firmly cemented the digital lending category in the Netherlands,” says Boersma.
ABN Amro to slash size of investment bank after losses
A €703 million impairment charge is behind the bank’s losses.
Exclusive: Money20/20 Europe sponsors join forces to assess Amsterdam event options
Money20/20 Europe assures the physical event in Amsterdam is safe and ready to go ahead.
Money manager for freelancers Flow lands Dutch PSD2 licence
The idea for Flow originated on an alpaca farm in Drenthe.
Currencycloud nabs e-money licence from Dutch central bank
The London-headquartered firm secures post-Brexit future.
LemonTree Software aims to disrupt back and middle-office systems
Its CCO speaks to FinTech Futures about the firm’s one-platform and auto-code approach.
Major Dutch banks launch AML joint venture
Rabobank, ING, ABN Amro, Triodos Bank, and de Volksbank make AML move.
ING appoints ex-Google and Confused.com exec as Yolt CEO
Weng Kan led Google’s attempt to edge into the insurance market in 2015.
ING taps Expert System to boost back office automation
The Dutch bank is aiming to improve its application of RPA.
ING names Steven van Rijswijk as new CEO
The Dutch bank finds its replacement for Ralph Hamers.
ING’s multibanking start-up Cobase gets two new shareholders
The start-up will expand beyond Western Europe.
IBM signs services deal with Dutch insurance giant Aegon
IBM set to manage Aegon’s run-off life insurance until 2066.
Breaking down challenges for challenger banks with Ohpen
“It’s not just about a sexy frontend or onboarding,” says CCO.
bunq’s banking app gets a ‘swiss army knife’ style revamp
The “new-look” ‘bunq V3’ banking app is in beta.
bunq launches shared ‘bunq +1’ accounts for parents and businesses
Users can add as many bunq +1s as they want for a flat fee of €2.99 each month.
Signicat acquires Connectis to tap Benelux region
CEO of Signicat says Connectis had been on the radar “for quite some time”.
ABN Amro withstands $200m loss from margin call failure of one client
The loss is equivalent to almost 10% of the bank’s annual profits.
A look under the hood of ABN Amro’s internal Covid-19 operations
The bank admits there were some VPN teething issues.
Wirecard strikes again with Klarna payments partnership
Also this week, Wirecard teamed with Southeast Asian ride-sharing firm Grab.
Funding Circle plans to cut 125 jobs in Berlin and Amsterdam
P2P firm reacts to poor year in external markets by cutting back.
Aruba’s banks switch to instant payments with equensWorldline
The digitisation of payments has been “a challenging project” for the island.
Dutch fintech TerraPay gets acquired & raises $9.6m
“Fintechs like TerraPay play a vital role in increasing financial inclusion in emerging markets.”
Santander’s PagoFX to launch in Spring and rival TransferWise
The venture now has a 50-person London-based team.
bunq CEO: “It’s a marathon not a sprint, we run our own race”
“I like to think of myself as a simple entrepreneur,” says Niknam.
European Commission warns eight countries over late AML laws
Countries include Cyprus, the Netherlands, Portugal, and Spain.
Rabobank spins out SurePay as independent company
Payments firm hailed as innovation success story.
OakNorth to deploy lending platform for Dutch lender Oimio
Newly-launched firm aims to help SMEs with loans of €1-10 million.
Freetrade takes on Europe, starting with the Netherlands and Ireland
Germany and France are next on Freetrade’s list.
Siemen’s Mendix builds Rabobank’s new banking portal RaboDirect
The new portal will process front and back-office transactions.
