bunq launches shared ‘bunq +1’ accounts for parents and businesses
Users can add as many bunq +1s as they want for a flat fee of €2.99 each month.
Business-to-Business/B2B
US unicorn AvidXchange lands $128m
The fintech is already backed by PayPal co-founder Peter Thiel and Mastercard.
Barclays launches CLBIL scheme amid coronavirus
Barclays is extending its support to businesses not covered by CBILS or CFF.
University of Oxford & Mastercard team up on cyber skills programme
It will feature research, content and data from renowned academics and industry leaders.
UK lenders call on government for £5bn to help SMEs before month end
The group is welcoming all UK lenders to join the effort to keep British SMEs afloat.
Worldline continues acquisition streak with ecommerce gateway GoPay
Worldline will take over 53% of the stake in GoPay, and buy the rest in 2022.
Temenos rolls out AI models to help banks lend quicker during coronavirus
“Our AI can expedite accurate decision making and help the front line staff,” says Temenos.
Will America’s second round of PPP avoid mistakes of the first?
Roughly 80% of PPP applicants are still waiting on loans, says NFIB.
Saudi Arabia’s fintech sandbox welcomes nine more start-ups
The sandbox is home to 30 fintechs.
Yemen’s Al Kuraimi Islamic Bank selects Temenos for digital banking
KIB currently serves 1.2 million customers.
Nordic API Gateway lands $5m from Danske Bank and DNB
The fresh capital will initiate an “aggressive growth” plan to achieve pan-European coverage.
Swedish fintech Bokio lands $8m and merges with competitor Red Flag
The fintechs will have a combined user base of more than 80,000 customers.
Israeli fintech BioCatch raises $145m in Series C
More than 40 financial institutions use BioCatch’s technology.
Glafka Capital implements Valk’s Corda-based solution
R3’s Corda platform underpins 40 other investment banks.
Singapore’s new blockchain industry group BAS launches
The group is the result of a merger between two 2018-founded entities.
UK government launches £1.25bn coronavirus Future Fund for start-ups
Start-ups can apply for loans between £125,000 and £5 million.
Spendesk co-founder departs after 12 month-long discussions
The remaining co-founders Ardant and Guilhem are gearing up to double the team again.
Funding Circle becomes first lending marketplace to issue UK CBILS grants
The marketplace has already originated more than £6.2 billion in loans.
Stripe bags $600m in fresh funding to hit $36bn valuation
Stripe recently added Zoom as one of its main customer.
More than 275 accountancy firms ask UK government to plug gaps in SME aid
“Entrepreneurs face their business being crushed,” says the letter.
Mastercard’s Ethoca teams up with Microsoft to offer digital receipts
The Canadian firm has an ongoing partnership with Microsoft.
ThoughtSpot CEO: “We haven’t seen any cutbacks” due to our automation in banks
The banks ThoughtSpot works with are hiring more people to power its automation.
Identity verification platform Onfido bags $100m from TPG
The start-up wants to create an alternative “identity verification” layer for the internet
Previse bags $11m from Mastercard and Reefknot Investments
In the next five years, Previse wants to get five million suppliers paid instantly.
Kyckr extends Citigroup regulatory compliance deal
“There is no better referral than within an existing organisation,” says CEO.
Currencycloud strikes FX partnership with Derivative Path
Partnership will see both firms combine their systems.
CaixaBank and Global Payments create prepaid card under MoneyToPay brand
Global Payment’s Netspend president Kelley Knutson will head up the venture.
Singtel’s NCS and NETS to develop electronic payments platform for central banks
The firms will also create a “next-generation” suite of central banking products.
Big data fintech GeoDB bags £1.37m from Seedrs investors
The UK fintech combines big data, blockchain and crypto into ‘Big – Crypto’.
OakNorth bags Modern Bank as second US customer
Modern Bank is a delegated lender under the CARES Act.
Four new UK lenders get approved to issue coronavirus business loans
These lenders are yet to set a date by which they can start accepting CBILS applications.
Nordea helps suppliers to get paid early amid coronavirus
Suppliers will benefit from “several hundred million euros” early.
COVID-19: Weekly wrap
FinTech Futures’ weekly coronavirus news wrap.
Top 10 coronavirus initiatives by fintechs
Many fintechs have used this pandemic as an opportunity to show their mettle.
Top 10 coronavirus initiatives by governments and regulators
A brief overview of how governments and financial regulators have reacted to coronavirus.
Visa pours $210m into the coronavirus effort to help SMEs
Visa will split the money between NGOs and investment partners.
Starling Bank launches “spare” debit card feature to help those self-isolating
The ‘Connected Card’ gives someone else the ability to spend on their behalf.
Fintech Neat lands $11m to help SMEs trade between Asia-Pacific and Europe
The fintech landed Visa as an investor and new card partner.
Banking Technology April 2020 issue out now
All things equal: Closing the gender gap in fintech.
US-based Customers Bank adopts OakNorth’s lending platform
The US bank holds $11.5 billion in assets.
