State Street cuts blockchain developers in potential strategy change
The firm looks to be moving away from a front-to-back DLT implementation.
North America
Mexican lendtech start-up Konfio bags $100m investment led by SoftBank
This is the Latin American start-up’s fourth financing round.
Regulators need to provide clarity on Libor cessation, says ISDA
ISDA writes letter to FCA asking for greater information on Libor phase-out.
Portag3 Ventures closes $320m fund for early-stage investment
Venture capital firm plans to focus on the US and Canada, as well as overseas
US DOJ digs deeper into Deutsche role in Danske money laundering scandal
Deutsche officials were made aware that the scope of the DoJ probe had broadened.
Mike Cagney’s Figure Technologies set to raise $103m in Series C
Figure is also edging into the student financing space.
Wells Fargo hires Santander’s US chief as new COO
Scott Powell will be the bank’s new chief operating officer.
Top tips for protecting your assets in 2020
Interesting wealth management tips to consider during 2020.
Diversity-focused VC fund Harlem Capital debuts with $40m
The over-arching goal: invest in 1,000 diverse founders over the next 20 years.
Monzo hires Visa exec to lead US push
TS Anil will join the digital bank early next year.
Canada’s neobank Koho secures extra $18.8m in Series B to diversify investors
The round was led by Drive Capital and National Bank of Canada’s VC arm, NAventures.
Klarna selects Amazon Web Services as preferred cloud provider
Swedish banking and payment firm puts AWS at the centre of new strategy.
CMFG Ventures hands BankBI Series A investment to tap US market
BankBi will use CMFG Ventures’ US credit union connections.
Video: Top fintech stories this week – 29 November 2019
FinTech Future’s weekly news round-up.
Middlegame Ventures reaches first close of €150 million for investment in early-stage fintechs
New venture fund wants to empower fresh innovation.
US fintech Robinhood pulls OCC banking application
The start-up is calling the withdrawal “voluntary”.
Goldman Sachs fined $1m for not recording traders’ calls in 2014
The bank failed to record calls for three weeks.
Easing the cloud transition using microservices, containers and Kubernetes
The first step is to build new applications using these new architectures.
FIS integrates IBM to help clients counter fraud
IBM Safer Payments has been installed in FIS’s P2P solutions
MLRO’s in the regulatory “cross-hairs”
The role of AML compliance officer/MLRO has never been more challenging.
Microgen Financial Services and Touchstone Wealth Management merge
The firms hope to create a leader in the trust and corporate services sector.
EQ Bank completes cloud-based Temenos core banking project
Bank finalises migration to the Microsoft Azure cloud.
How paytech helps the gaming world tap the under-banked populations
Paysafecard and G2 Esports reveal how paytech taps underbanked gamers.
Capital market disruptor Capitolis raises $40m in Series B
Investors see the fintech in a position “to transform a whole industry”.
Video: Top fintech stories this week – 22 November 2019
FinTech Future’s weekly news round-up.
Caixabank inks deal with Salesforce to bring CRM to digital banking
The companies signed the agreement at Salesforce’s Dreamforce event.
How blockchain transforms banking and financial services
Who’s adopting this tech and what’s in store for it down the line?
PayPal sweetens e-shopping processing with Honey deal
The acquisition is PayPal’s largest to date.
Crypto compliance start-up TRM Labs raises $4.2m with help of PayPal
Backers include Reddit’s founder and PayPal Ventures.
Money20/20 USA: How Tangerine champions personalised digital banking with Meniga’s tech
From proof-of-concept to market launch, results, and lessons learnt.
Small business lender BlueVine banks $102.5m in Series F funding
The fintech now has $692 million in total funding.
HSBC’s US businesses can send real-time payments, bank launches global CX programme
The payments leverage the RTP network developed by The Clearing House (TCH).
US government plans strict enforcement of AML ‘travel rule’ for crypto firms
The rule requires crypto firms to share information about their customers.
Canada’s online brokerage Questrade plans banking licence
A trademark application was also filed back in October for Quest Bank.
Machine learning vs human experience in invoice finance
Be wary of a lender with no human face as there’s always the odd unforeseen complication.
Business payments platform Bill.com set to raise $100m in IPO
Underwriters listed include Goldman Sachs, BofA Securities and William Blair.
JP Morgan and Baton Systems develop real-time clearing system
New platform to address challenge of tying excess funds across clearing workflows.
FTC puts Visa and Mastercard under debit routing microscope
Major card schemes under investigation for blocking other network payments.
Why banks can profit from “smart” POS
There is a shift from traditional payment services provided by banks and others.
Video: Top fintech stories this week – 15 November 2019
FinTech Future’s weekly news round-up.
