Cash deposit platform Flagstone lands £12m funding
Since 2015, Flagstone says it has facilitated £5 billion in deposits.
North America
Amazon Web Services VP resigns over whistleblower firings
The engineer quit in protest over AWS’ handling of warehouse employees amid COVID-19.
Ivy Lender calls out banks and fintechs for exploiting PPP
“Most banks are saying they have offerings [for small businesses] when they don’t.”
ABA unveils suite of core banking selection resources
US association continues campaign to diversify core banking market.
US challenger Bambu picks FIS Modern Banking Platform
Tennessee-based challenger bank plans to target the underbanked.
Investing app Stash lands $112m Series F led by LendingTree
This month Stash also surpassed $1 billion in assets and 4.5 million users.
Mastercard-backed Trust Stamp spins out subsidiary AiiD Global
EXCLUSIVE: the new subsidiary will specifically develop solutions for emerging markets.
JP Morgan picks Taulia for supply chain finance boost
US bank aims to improve customer experience on the corporate side.
HSBC freezes redundancy plans as COVID-19 hits $6bn overhaul
London-headquartered bank releases Q1 earnings with stark warning for Europe.
Former Oracle VP Smedley joins Red Hat
Smedley joins IBM-acquired Red Hat after 18 years at Oracle.
US banks roll back lending to European companies
“We are increasingly observing an ‘America first’ attitude among large US banks.”
Northern Trust hires Alison Pain as new EMEA CTO
Pain joins from Deutsche Bank and will lead Northern Trust’s EMEA tech ops.
Cross River Bank raises $100m in Series C funding
The latest round will see Cross River Bank offer tech to venture capital firm in Malaysia.
Currencycloud among first non-bank firms to offer Swift gpi payments tracking
TransferGo, Penta and Money Mover were early participants in the pilot programme.
Noah bags $150m investment
The money came from unnamed institutional investors, including pension funds.
US unicorn AvidXchange lands $128m
The fintech is already backed by PayPal co-founder Peter Thiel and Mastercard.
Information Builders & Sound Credit Union collaborate on reporting package for COVID-19
IBI’s self-service analytics are designed exclusively for credit unions.
Webinar: Swift gpi is a chance for payments modernisation
Opportunities beyond meeting the minimum exist for banks embracing gpi.
Monzo applies for US banking licence
Monzo applied to the US OCC for the licence on Monday.
Will America’s second round of PPP avoid mistakes of the first?
Roughly 80% of PPP applicants are still waiting on loans, says NFIB.
SoFi acquires Hong Kong stock trading app 8 Securities
“Hong Kong, a financial capital of Asia, is ripe for innovation,” says SoFi’s CEO.
Three US credit unions pick Bankjoy for mobile and online banking
The three institutions hold a combined $280 million.
Webinar: Getting reconciliation right in the ‘decade of data’
A blueprint for consolidating, automating and driving efficiency across reconciliation.
Fenergo and IBM sign OEM agreement
Both firms will collaborate on the creation of financial crime solutions.
Looking beyond the coronavirus trading boom
Some trading apps see their future in the saving market.
Google plans debit card launch in the US
Google is preparing to launch an Apple Card rival soon.
World Fintech Report 2020: “Traditional banks are at a critical juncture”
“They must embrace Open X or risk becoming irrelevant,” says John Berry, CEO of Efma.
Curve bags former PSR CEO as advisor on regulation strategy
Nixon managed the PSR for five years until last year.
Explained: Protecting your ideas
Does your fintech need a patent? Does your invention need protection, or will you need something else?
DCI nabs Vetter tech suite from AFT Analytics
DCI continues an acquisitive streak focused on strategic growth.
Varo Money takes on Moven’s consumer accounts
Accounts with Moven will shut on 30 April 2020.
The rise of P2P FX
P2P initiatives aimed at helping corporates transact more efficiently will continue to gain traction.
Stripe bags $600m in fresh funding to hit $36bn valuation
Stripe recently added Zoom as one of its main customer.
Swift cancels Sibos amid COVID-19 crisis
Delegates that had signed up to attend will be offered a full refund.
Robinhood is raising fresh capital at an $8bn valuation
It apparently made $60 million in March – triple what it made in March 2019.
KyckGlobal signs US push payments partnership with Visa
Firms hope new deal will unlick real-time payments for “countless industries”.
Mastercard’s Ethoca teams up with Microsoft to offer digital receipts
The Canadian firm has an ongoing partnership with Microsoft.
Identity verification platform Onfido bags $100m from TPG
The start-up wants to create an alternative “identity verification” layer for the internet
Kyckr extends Citigroup regulatory compliance deal
“There is no better referral than within an existing organisation,” says CEO.
CaixaBank and Global Payments create prepaid card under MoneyToPay brand
Global Payment’s Netspend president Kelley Knutson will head up the venture.
