Customers don’t do what they should
There’s a disparity between how banks think and what customers do.
Consumer/Personal Finance
Splash Financial lands $44m in Series B funding round
The company helps borrowers compare financial products from a network of lenders.
JP Morgan acquires digital wealth manager Nutmeg
Nutmeg will complement the launch of JP Morgan’s digital bank Chase.
Infographic: Modern consumer experiences run on cloud
Cloud technology is the future of finance. Find out how it’ll get you there.
Market commentary: Cloud momentum is building in retail banking
Find out why cloud is the way forward, and how to navigate the journey.
Lloyds hires former DBS Bank exec David Gledhill as new COO
Gledhill, who takes over in August, also spent 20 years with JP Morgan.
Debt collection tech gets a “personal” upgrade for COVID-19 and beyond
Building mutual trust and encouraging customers to become more financially responsible.
Standard Chartered partners Franklin Templeton to launch financial wellness platform
Autumn will allow users to plan and manage their financial and physical wellbeing.
European neobroker Scalable Capital raises $180m in Tencent-led funding round
This latest funding round brings the firm’s total capital raised to over $320 million.
Klarna raises $639m in SoftBank-led funding round
The BNPL firm claims it is now valued at $45.6 billion.
Fintech start-up Nude launches new finance app to help first-time buyers
The app features a number of tools to help aspiring homeowners save up for a deposit.
Financial wellness platform Credit Sesame raises $51m to fuel expansion plans
The US-based fintech also announced the acquisition of Zingo, a fintech software services start-up.
PayPal invests $135m in financial institutions that support underserved communities
The investments are part of its $535 million commitment to those without access to banking.
Tred partners with Nium to launch green debit card
UK’s first green debit card to let users track, reduce and offset their carbon footprint as they spend.
SoftBank pours $250 million into banking tech start-up Zeta
This Series C investment values the banking tech vendor Zeta at $1.45 billion.
LINE BK is “an elevation for the financial industry”, says CEO
“In today’s digital world, we are stepping towards a so-called singularity era.”
UK payments industry reacts to second SCA deadline extension
Many firms are still unhappy with “the disruption” SCA is presenting.
ICYMI funding round-up: OptioPay, Payslip, Mamo, Telda, StudentFinance, Algbra
An ‘In Case You Missed It’ (ICYMI) list of funding picks.
Vodacom launches “super app” in South Africa with Alibaba’s help
“We see this super-app as a precursor to M-Pesa’s evolution,” says CEO.
UK regulator fines AmEx over sending four million unsolicited emails
Subscribers “had not provided adequate consent” for a portion of the 50 million messages Amex sent in 2019.
BukuKas raises $50m Series B just four months after Series A
BukuKas’ CEO Krishnan Menon previously worked at Alibaba-owned Lazada Indonesia.
Bitcoin tumbles below $37,000 following Chinese ban on crypto services
Chinese financial firms can’t offer clients products involving cryptocurrency.
FCA demands UK fintechs clarify non-bank status to customers
Companies have six weeks to write to their customers.
Safaricom mulls M-Pesa partnership with Amazon
A wider partnership with Amazon “is important”, says CEO.
Goldman Sachs plans UK app launch, robo-adviser for 2022
the UK makes up just under a third of Marcus’ $100 billion deposit total globally.
Stripe acquires card verification fintech Bouncer
Both Bouncer’s team and its technology will join Stripe.
ETX acquirer Guru Capital snaps up fintech start-up Oval Money
Launched in 2017, Oval’s mobile app claims more than 100,000 “active” users.
Cedar co-founder: Our biggest competition is status quo and inertia
Cedar acquired San Francisco-based OODA Health for $425 million last week.
Pockit customer forced to send bailiffs in battle for locked funds and rent money
Pockit owes the customer a total of £352.
Video: Top fintech stories this week – 14 May 2021
The FinTech Futures weekly round-up of the industry’s top stories and happenings from across the globe.
N26 issued order by German regulator to improve AML measures
To oversee these changes, Bafin has appointed a “special commissioner”.
OpenWrks, Tully, Payplan and PayLink merge under private equity firm
All four firms span the debt advice, credit risk and collections industries.
US challenger for freelancers Lili lands $55m and passes 200,000 users
Lili wants to be a go-to app for freelancers in the US.
NAB lands approval for 86 400 acquisition despite competition concerns
86 400 bagged its own banking licence back in 2019.
HSBC on track to hire 1,000 wealth managers in Asia before year end
In 2020, the bank’s Asian business reported $12.8 billion in profits.
US start-up EarlyBird re-thinks gifts for kids with investment platform
EarlyBird launched four months ago.
What are the opportunities in open finance?
Envestnet | Yodlee hosted a discussion with FinTech Futures to find out.
UK P2P lender The House Crowd’s collapse a result of governance failings
The House Crowd had struggled to raise capital.
Curve goes crowdfunding five months after $95m Series C
Curve plans to grow its workforce by around 60% this year.
UK fintech Fronted raises £1m with backing from Monzo co-founders
The start-up launched back in February.
