Finastra brings servers back online after ransomware attack
“A bad-actor was attempting to introduce malware into our network,” says firm.
North America
Goldman Sachs becomes part of SAP’s Ariba Network
More than 4.6 million companies make up the Ariba Network.
HSBC’s $6bn structural overhaul under threat from COVID-19
The global bank may have to delay its plans if the contagion becomes a long-term issue.
Appian unveils software to help banks operate amid coronavirus outbreak
The application is only available to companies with more than 1,000 employees.
Fiserv acquires POS partner Bypass Mobile
The two firms will work on new “purchasing experiences”
WorldRemit teams up with Paykii
It will launch international bill payments through its own app/website using Paykii’s tech.
Square lands conditional banking licence from FDIC
The bank will be based in Utah.
Will regulators make an example of trading unicorn Robinhood?
“We don’t think they were set up to do it properly,” says class action lawyer.
Neobank for America’s middle-class One lands $17m Series A
The 40-person challenger has opened early access to its private beta.
US challenger Cogni to create lifestyle hub, starting with banking
The challenger wants to be the ultimate “operating system” for lifestyle.
Swift’s ISO 20022 migration set back a year to November 2022
“The new approach will avoid short-lived investments by customers,” says Swift.
US Bank connects customers with Fiserv data solution
API-based service to aggregate US Bank customers’ data.
Travelex owner Finablr prepares for insolvency
Finablr processed $115 billion in transactions in 2019, and more than 1,500 firms rely on it.
Scotiabank commits to helping Canada’s emerging AI start-ups
The bank will give start-ups and tech entrepreneurs access to funding and expansion opportunities.
Crypto start-up Bakkt lands $300m Series B from Microsoft and PayU
The fundraising was closed last Friday, the same day Bitcoin experienced a multi-month low.
Central banks free up US dollar liquidity amid coronavirus pandemic
The price on the US dollar liquidity swap arrangements will go down by 25 basis points.
Amazon VP Maria Renz joins Californian fintech SoFi
For a time, Renz was Bezos’ first and only female adviser.
Agora Services lands $2m in seed funding
The founder previously built French digital bank Fortuneo.
Interior Savings Credit Union picks Fiserv DNA
Canadian credit union shifts to new system to drive “flexibility”.
Accuity buys London fintech Apply Financial
The deal builds on Accuity’s account validation solutions for FIs.
BandPay lands $2m to help musicians get paid
“This is a crucial investment,” says co-CEO.
Global fintech funding: 2018 still stands as the reigning year
As of February 2020, year-over-year deal counts were down by 22%.
SpotOn raises $50 million in Series B featuring former Twitter CEO
Payments firm plans to extend product development.
Neyber sells up to biggest rival Salary Finance
The sale is “understood to have seen Neyber’s assets sold for a meagre sum”.
SME challenger bank NorthOne raises $21m Series A
New York-based challenger plans to splash the cash on customer acquisition.
Western Union refunds $153m for scam victims
Western Union agreed to pay $586 million in monetary relief following a 2017 scandal.
CFPB files account fraud lawsuit against Fifth Third Bank
US regulator claims bank opened credit accounts without customers’ permission.
Credit Sesame launches new digital bank account Sesame Cash
A banking offering will engage customers beyond just improving credit.
Paytech firm QRails raises $8m in Series A funding
Colorado-based firm brings total funding raised to $18 million.
San Fran money manager Empower Finance lands $20m Series A
“There’s growing demand in the market for financial knowledge to be more practical,” says CEO.
FirstBank picks Finxact to replace 35 year-old core banking system
Colorado-based bank is among early takers of Finxact’s core banking system.
Family finance app Jassby raises $5m, anticipates $20m round later this year
CEO says rounds will drive fintech closer towards 1 million users within a year.
Challenger bank Copper latest to tap America’s teens
Copper is yet to reveal its launch date but has opened a waiting list to teens.
Leap Finance raises $5.5m to help finance Indian students abroad
Start-up wants to change the way students are given credit.
Video: Top fintech stories this week – 06 March 2020
FinTech Futures’ weekly news round-up.
Vantage Bank Texas signs up Backbase to revamp digital banking
Texan back seeks consolidation under one system following 2018 merger.
Money management app Emma bags $2.5m in seed funding
The fintech connects users’ bank accounts under a single dashboard.
US challenger Branch partners Cardtronics to offer fee-free ATM service
Minneapolis-based Branch expands fee-free network.
Flywire’s CEO on unicorn status: “It means nothing until it is something”
“I’m the most anti-unicorn terminology person, so it’s quite ironic,” says Massaro.
Ikano Bank builds on Nets partnership to power new lending platform
Ikano plans to launch products on the new service later this year.
