US fintech community dealt blow by federal court as charter is denied
The OCC will be appealing the decision by the US courts.
North America
US Bank plans thousands of job cuts in staff restructure
Bank is blaming changing customer behaviour for the need to downsize.
How to reduce loan delinquency with a better payment experience
GoCardless found three main reasons why borrowers had missed a repayments.
Instabase raises $105m sent to unicorn status
The bank app has raised $132 million since it began in 2015.
Meeting the global B2B payments challenge
International businesses increasingly expect global access to finance in real-time.
Mastercard and Visa battle over Revolut deals
Revolut says 75% of its non-European cards will eventually be Visa branded.
Santander to launch online deposit platform in US
It is said to be a rival to Goldman Sachs’ Marcus offering.
Rise of the machines: when will AI and machine learning change finance?
FinTech Futures is researching the impact of AI on the industry.
Evolve Bank & Trust taps i2c for cloud-based core banking, card issuance
Payments processor upgrades its tech with i2c.
Mastercard trials Payment on Delivery with PNC Bank
New solutions aims to eliminate problems around cash and cheque usage.
BNP Paribas purchases stake in Allfunds to bolster wealthtech solutions
Bank aims to create market-leading software using Allfunds expertise.
US challenger bank Denizen shuts down
The expatriate bank failed to reach required scale.
Uncovering the hidden costs of liquidity
Liquidity is paramount and real time liquidity is now a must-have.
PayPal subsidiary Venmo launches first credit card with Synchrony Bank
Venmo will now be able to compete with N26 and Chime in the US market
Nebraska’s Pathway Bank enters world of video banking with POPi/o
POPi/o also has partners in California, Idaho, Nevada and New York.
Video: Top fintech stories this week – 18 October 2019
FinTech Future’s weekly news round-up.
US challenger Chime goes down for millions of customers
Chime serves more than five million accounts across the US.
R3 signs partnership with securities exchange Archax
Firm will deploy R3’s Corda Enterprise platform for post-trade.
CNB Bank selects nCino to digitise retail lending processes
Pennsylvanian bank opts for firm’s Bank Operating System.
Can compliance directors successfully reposition themselves as business leaders?
The role of banking compliance is in mid-evolution.
From stablecoins to central bank digital currencies
In the sCBDC model central banks would focus on their core function: providing trust and efficiency.
Deutsche Bank selects Tieto to boost virtual account services
The deal enables an enhanced cash management offering to corporate clients.
ID Finance crowdfunds £1.5m in minutes, eyes up Hispanic and Latino loan market
ID Finance is on track to double revenues to €90m this year.
Calastone takes on ex-BNY Mellon exec Dan Kramer for US expansion
Kramer managed end-to-end customer experience at BNY Mellon.
FinovateFall 2019 in pictures
There was so much to take in over the three days!
Uwharrie Bank chooses Fiserv’s DNA core platform
The bank has also added card services.
UK cybersecurity firm Sophos bought by America’s Thoma Bravo for $3.8bn
Sophos houses more than 3,400 staff and a turnover of $710.6 million.
Libra’s woes continue as Booking Holdings departs
The association has now lost 25% of its membership.
Brazilian fintech Nubank’s user base soars to 15 million
The fintech has reached decacorn status with a $10 billion valuation.
US regulators remind FIs of AML obligations for digital assets
The CFTC, SEC and FinCEN point to AML/CFT requirements for digital assets.
Libra: Already a victim of fraud
According to the Facebook model, you steal a little and they bank the ad revenue.
HSBC takes on digital challengers with First Direct overhaul
The telephone-based brand is looking at AI and in-app technology.
Facebook’s Libra suffers additional regulatory scrutiny
FSB & G7 leaders believe it should halt operations until legal oversight is completed.
Mastercard, Visa, eBay and Stripe follow PayPal’s suit and leave Facebook’s Libra
Facebook’s hopes of a global cryptocurrency are hanging in the balance.
FundRock appoints Lee Marshall as CTO
He joins from MasonBower, with previous experience from KNEIP and JP Morgan.
Video: Top fintech stories this week – 11 October 2019
FinTech Future’s weekly news round-up.
Federal Reserve shelves tougher liquidity rules for foreign banks
Minimum level of liquid assets not required by US branches.
Branch launches free checking account and debit card for hourly workers
The fintech wants to increase financial stability in the US.
FinovateFall 2019: PFM is making a comeback
The energy in the room was palpable, and all aspects of the financial technology community were on display.
Credit Suisse mulls return to US private banking to serve LatAm’s wealthiest
The bank is looking to add $15 billion in assets to a new Miami base.
