Video: Top fintech stories this week – 15 November 2019

November 15, 2019 at 03:19PM The FinTech Futures weekly round-up of the industry’s top stories and happenings from across the globe. This week we cover: Facebook Pay launches for US users on Messenger and Facebook Hungary’s National Bank fintech strategy combats digitisation lag Open Banking Expo 2019: Innovation by regulation is a “flawed idea” Google sets its … Continue reading Video: Top fintech stories this week – 15 November 2019

Money Bites podcast: what’s next for fintech?

November 14, 2019 at 01:15PM The latest episode of the Money Bites podcast by Smart Money People asks “what’s next for fintech?”, featuring Tanya Andreasyan, editor-in-chief at FinTech Futures talking about the fintech landscape. Simon Rabin, CEO of Chip, also joins – to talk about his experience of growing a fintech. And it wouldn’t be Money Bites … Continue reading Money Bites podcast: what’s next for fintech?

India’s NSE announces API sandbox for fintechs around the world

November 14, 2019 at 06:30AM The National Stock Exchange (NSE) of India has announced its open trading API sandbox which welcomes fintechs to sign up and build their own technology on the platform. NSE’s platform will allow fintech start-ups to build trading, portfolio management and analytics applications “with ease”. Launched at Singapore Fintech Festival 2019 … Continue reading India’s NSE announces API sandbox for fintechs around the world

Visa sends Nigerian fintech Interswitch to unicorn status

November 13, 2019 at 07:00AM Visa has invested in Nigerian digital payments group Interswitch purporting the company to unicorn status with a valuation exceeding $1 billion. After Sky News reported the tip off on Sunday, TechCrunch received confirmation from Interswitch on Tuesday that it had in fact hit unicorn status, but the fintech has still … Continue reading Visa sends Nigerian fintech Interswitch to unicorn status

OCC’s Otting: Fintech charter will see the light of day

November 12, 2019 at 04:20PM Despite a recent legal challenge, Comptroller of the Currency Joseph Otting said the regulator will continue to advocate for passage of the OCC’s special purpose fintech charter. At the RegTech 2019 conference in New York, he reiterated the case for having nonbanks that offer banking services under regulatory oversight. “We … Continue reading OCC’s Otting: Fintech charter will see the light of day

Hungary’s National Bank fintech strategy combats digitisation lag

November 12, 2019 at 11:30AM “I’m sorry to say Hungary is behind everyone,” when it comes to digital developments in banking, according to an executive from CMS, the law firm helping the National Bank of Hungary (MNB) write and implement its fintech strategy. CMS executive: “Hungarians do not use sophisticated fintech apps” But different from … Continue reading Hungary’s National Bank fintech strategy combats digitisation lag

Putting female STEM into financial systems: the role of gender diversity in fintech

November 12, 2019 at 05:00AM Over the past five to 10 years, no other sector has seen the amount of investment and growth as that of fintech. From an employment perspective,fintech offers the latitude for people to work on high impact projects in the financial markets sector, something which was traditionally the preserve of the … Continue reading Putting female STEM into financial systems: the role of gender diversity in fintech

Community Bankers Flag CECL, Fintech as Top Concerns in Recent Interview

November 11, 2019 at 09:33PM The Financial Accounting Standards Board’s current expected credit loss standard is among the top issues keeping community bank CEOs up at night, according to an American Banker article published today featuring interviews with several members of ABA’s Community Bankers Council. The post Community Bankers Flag CECL, Fintech as Top Concerns … Continue reading Community Bankers Flag CECL, Fintech as Top Concerns in Recent Interview

Fintech Talents 2019: Bank leaders still struggling with digital transformation

November 11, 2019 at 03:00PM Redesigning a bank for the 21st century is a process that many banks and their leaders are still grappling with as they try to kick a habit of focusing on traditional success factors like net interest income. Locsin believes banks have yet to see the full platform benefit That’s according … Continue reading Fintech Talents 2019: Bank leaders still struggling with digital transformation

Fintech Talents 2019: Banks must grab digital opportunity

November 11, 2019 at 02:35PM Banks aren’t going away any time soon, according to a zeitgeist-busting industry panel, but the models through which they interact with their customers must undergo some fundamental changes over the next dozen years. The panel included two banks, two challengers, and a tech giant For Josh Bottomley, global head of … Continue reading Fintech Talents 2019: Banks must grab digital opportunity

Video: Top fintech stories this week – 08 November 2019

November 08, 2019 at 06:37PM The FinTech Futures weekly round-up of the industry’s top stories and happenings from across the globe. This week we cover: IBM launches “world first” financial services public cloud CaixaBank opens “urban oasis” for Barcelona customers with 80 advisers India’s Reserve Bank welcomes retail paytechs to new regulatory sandbox UK challenger Tandem Bank … Continue reading Video: Top fintech stories this week – 08 November 2019

Israel’s anti-fraud fintech Riskified reaches unicorn status with $165m fundraising

November 07, 2019 at 10:58AM Ecommerce fraud prevention fintech Riskified has reached unicorn status with a Series E funding round worth $165 million. Led by global growth equity firm General Atlantic, the capital injection moves the Israeli start-up past a $1 billion evaluation. Riskified aims to open an office in Shanghai The fintech’s AI-powered solution … Continue reading Israel’s anti-fraud fintech Riskified reaches unicorn status with $165m fundraising

Central Bank of UAE plans new fintech office to power innovation

November 05, 2019 at 07:30AM The Central Bank of the UAE is looking into the possibility of opening a new fintech office to support innovation in the country’s financial services sector. UAE regulator wants to boost fintech Mubarak Rashid Al Mansouri, governor of the Central Bank of the UAE, told delegates at the Middle East … Continue reading Central Bank of UAE plans new fintech office to power innovation

INV Fintech’s pivot to bank enablement evident in new accelerator class

November 04, 2019 at 01:00PM INV Fintech’s new class, announced today, solidifies the accelerator’s pivot to greater bank enablement. INV has refocused its operations within the last year on FI enablement, and the new class – INV’s eighth – is the first solely curated for this directive. The new cohort includes seven startups that are … Continue reading INV Fintech’s pivot to bank enablement evident in new accelerator class

HSBC-backed fintech Bud looks beyond financial sector in re-focused product model

November 04, 2019 at 07:00AM Open banking aggregator start-up Bud is now refocusing its efforts on industries beyond finance, City A.M reports. The fintech closed $20 million in an investment round earlier this year led by the likes of HSBC and Goldman Sachs. But after axing 20% of its staff last month and undergoing a … Continue reading HSBC-backed fintech Bud looks beyond financial sector in re-focused product model

Saudi Arabia’s Riyad Bank pumps $26.7m into new fintech start-up programme

November 04, 2019 at 06:30AM Riyad Bank, one of the largest financial institutions in Saudi Arabia, has pumped SAR 100 million (US $26.7 million) into it’s own newly-launched fintech start-up investment programme, Argaam reports. The banks wants to accelerate the release of new financial products across Saudi Arabia The digital partnership programme is designed to … Continue reading Saudi Arabia’s Riyad Bank pumps $26.7m into new fintech start-up programme

Video: Top fintech stories this week – 01 November 2019

November 01, 2019 at 09:46AM The FinTech Futures weekly round-up of the industry’s top stories and happenings from across the globe. This week we cover: Uber relaunches credit card with Barclays, drivers get real-time cash flow UK Treasury Committee: Regulators must punish banks for IT failures Nordea writes off millions in IT impairment charges SoftBank injects $655m … Continue reading Video: Top fintech stories this week – 01 November 2019

Credit score fintech TotallyMoney raises £5m investment from SVB

November 01, 2019 at 08:00AM UK-based free credit reporting platform TotallyMoney has secured £5 million in new funding from Silicon Valley Bank (SVB) which it says will help to “accelerate customer acquisition, recruitment, and develop” its technology platform. TotallyMoney’s USP boils down to “improv[ing] the UK’s credit score” and bettering the future of its citizens … Continue reading Credit score fintech TotallyMoney raises £5m investment from SVB

Israeli fintech Become secures $12.5m to help make SMBs more fundable

October 31, 2019 at 12:16PM Israeli fintech Become, an online platform which aims to improve the fundability of small and medium businesses (SMBs) in their marketplace, has just secured $10 million in Series A investments and raised $2.5 million in venture debt capital. Become co-founders: Amir Leitersdorf, Eden Amirav and Iri Amirav Led by lead … Continue reading Israeli fintech Become secures $12.5m to help make SMBs more fundable

Neobank Rebellion becomes first fintech to offer Spanish IBANs with banking licence

October 31, 2019 at 11:30AM Spanish neobank Rebellion has become the first challenger in the country to gain a banking licence and offer International Bank Account Numbers (IBANs), reports La Vanguardia. The fintech aims to be the neobank which “best speaks the language of Generation Z” The one-year-old fintech sees providing IBANs as integral to … Continue reading Neobank Rebellion becomes first fintech to offer Spanish IBANs with banking licence

UK fintech Koyo raises £3.8m to aid wiped credit histories

October 31, 2019 at 06:00AM UK-founded fintech start-up Koyo, which gives loans to people with younger or partly-wiped credit scores, has raised £3.8 million (US $4.9 million) in a mixture of debt and equity funding. Koyo is designed to help those who have a short, untested credit history behind them Led by London-based ‘venture fund … Continue reading UK fintech Koyo raises £3.8m to aid wiped credit histories

Fintech and blockchain: Where Silicon Alley meets hyperconverged infrastructure

October 29, 2019 at 10:00AM You may not have heard of the term “Silicon Alley,” but I am sure you are aware of the game-changing financial technology that is emanating from it. “Silicon Alley” was initially coined in the mid-1990s as a way to group media startups housed around the Flatiron neighborhood of Manhattan. I … Continue reading Fintech and blockchain: Where Silicon Alley meets hyperconverged infrastructure

UCL graduate fintech TurinTech.ai raises £1m led by IQ Capital

October 29, 2019 at 09:00AM The research-driven artificial intelligence (AI) company Turing Intelligence Technology (TurinTech.ai), which was created by four University College London (UCL) researchers, has raised more than £1 million in seed funding. The fintech was created by four University College London (UCL) researchers The fintech, now based in Cambridge and a resident at … Continue reading UCL graduate fintech TurinTech.ai raises £1m led by IQ Capital

Digital lending fintech enters auto

October 28, 2019 at 04:51PM LAS VEGAS — Bank of Oklahoma has adopted Blend’s digital lending platform, the fintech announced at the 2019 Auto Finance Summit. Blend’s platform is designed to simplify user experience for the consumer to drive increases in completed online applications and funding rates. “Blend’s technology uses verified data to eliminate steps and the passing … Continue reading Digital lending fintech enters auto

11 observations after 100 days in fintech

October 28, 2019 at 02:02PM Eric Fulwiler is the CMO at 11:FS, where he oversees the firm’s brand, media and lead generation activities. A former agency man at VaynerMedia and Mullen Lowe, he couldn’t resist the lure of fintech and digital financial services. Don’t ask about whether firms are “fintech” or “techfin” It’s been just … Continue reading 11 observations after 100 days in fintech

Spanish fintech PecunPay chooses IBM to implement Red Hat platform

October 28, 2019 at 10:38AM IBM has been selected by Spanish fintech start-up PecunPay, a payment and electronic money exchange solution supervised by the Bank of Spain, to implement Red Hat’s Kubernetes platform OpenShift “to help drive business”. The start-up manages more than 500,000 cards and supports at least 1,200 payment terminals In a bid … Continue reading Spanish fintech PecunPay chooses IBM to implement Red Hat platform

Weekly Wrap: Luge Capital courts early-stage fintechs, as payment providers rustle with UX and data privacy

October 25, 2019 at 06:14PM Welcome to the latest episode of our weekly wrap video series, for the week ending Friday, October 25, 2019. In this episode, Suman Bhattacharyya, deputy editor, and Angely Mercado, associate editor, discuss the following news developments: Canadian venture firm Luge Capital’s approach to fintech investments; How banks are navigating Zelle’s UX … Continue reading Weekly Wrap: Luge Capital courts early-stage fintechs, as payment providers rustle with UX and data privacy

Video: Top fintech stories this week – 25 October 2019

October 25, 2019 at 03:25PM The FinTech Futures weekly round-up of the industry’s top stories and happenings from across the globe. This week we cover: US fintech community dealt blow by federal court as charter is denied for fintechs to bypass state for licences Kaleyra and Epiphany launch first open banking hub in Italy Irish credit unions … Continue reading Video: Top fintech stories this week – 25 October 2019

Luge Capital’s Gillani: Canada is becoming a test market for fintech founders

October 23, 2019 at 06:52PM Luge Capital, a fintech venture capital firm based in Toronto and Montreal, serves a growing ecosystem of startups north of the border. This week, it closed a C$85 milion ($65 million) fund for fintech and AI solutions. “If you’re an early-stage fintech company, the number of investors you have to … Continue reading Luge Capital’s Gillani: Canada is becoming a test market for fintech founders

US fintech community dealt blow by federal court as charter is denied

October 23, 2019 at 11:05AM Judge Victor Marrero ruled the Office of the Controller of the Currency (OCC) cannot issue bank charters to institutions that don’t take deposits, in a blow to the agency’s efforts to offer limited national charters to financial technology firms, according to the Wall Street Journal. The OCC cannot issue bank … Continue reading US fintech community dealt blow by federal court as charter is denied