Europe battles on with digital tax plans despite US walk out
Almost 140 countries are part of the talks to bring in a digital tax.
Financial Services/Finserv
Community Financial Credit Union picks Orpheus from Access Softek
Michigan-based credit union extends seven-year deal with tech firm.
CFTC fines Deutsche Bank $10m for swaps failure & trade spoofing
Banking giant caught out by US regulator.
Bank of England adds another £100bn to combat COVID-19 economic crisis
Sterling sank against the dollar and euro on Thursday, falling more than 1% following the announcement.
Wirecard shares plummet as it announces €1.9bn of missing cash
EY couldn’t find the cash balances — which represent roughly a quarter of its balance sheet.
Vermiculus launches trading and clearing systems tech
The Swedish company has also appointed Taraneh Derayati as its chief executive officer.
OCBC to hire 3,000 this year in full-time, traineeship positions
About 2,100 of the jobs are full-time roles across the bank’s entities.
Commerzbank fined £37.8m by FCA for AML failings
The London branch of the bank dragged up for issues between 2012 and 2017.
Banco Safra picks ACI Worldwide to underpin US expansion
The Brazilian bank is launching its payment solution in North America.
Partnering is a solution to the regulatory “new normal”
FinTech Futures speaks to James Buckley, vice-president and Europe director for Infosys Finacle.
Banking is moving to a dual core
I’m not saying that digital transformation is just a case of implementing a DBP.
UK regulator probes Visa’s acquisition of Plaid
The UK’s CMA is looking into potential anti-competitive implications.
Santander gets US challenger bank Upgrade to unicorn status
The San Francisco-based challenger has landed a $40 million Series D.
Kazakhstan’s ecommerce banking app Kaspi quietly expands in CIS region
Kaspi made more than half a billion last year in profits.
UK fintech consultancy 11:FS cuts 12% of workforce
Out of its roughly 183 employees, 22 will be leaving the company.
Credit Sesame acquires Canadian challenger Stack for international expansion
The US loans company is absorbing all Stack employees.
Transfergo raises $10m, expands into 11 new markets
Remittance firm claims uptake in growth during COVID-19 pandemic.
Greensill acquires Colombian fintech Omni to turbocharge LatAm growth
Omni operates across Chile and Colombia.
Caixa Geral de Depósitos plans treasury revamp with Finastra
Portuguese lender picks a handful of Finastra systems.
Friends in low places
If you want something done in a bank you don’t need friends in high places. You need friends in low places.
Five steps that will change reconciliation forever
What does the future of reconciliation look like?
Report: Ten trends in reshaping banking in 2020
Business model, agile organisation, ubiquitous automation, technology modernisation, and culture and workforce transformation.
Santander’s PagoFX rolls out business offering and adds more currencies
Eight currencies from the Middle East and Central and Eastern Europe (CEE) have been added.
Fintech start-up Synapse cuts 50% of full-time staff
It also signalled its intention to move more of its workforce to Texas.
UniCredit teams with fintech Taulia to boost trade finance capacity
The fintech will allow the bank to serve more clients in and outside of Europe.
Italian neobank illimity launches its open banking platform
The bank launched just nine months ago.
RBC-backed start-up Mydoh launches banking offering for kids
The app and smart card launched more than two weeks ago.
IIFL helps bridge the funding gap for India’s fintech start-ups
The firm says it will fund, mentor and use the fintechs’ products.
Square buys up Spanish P2P payment app Verse
Verse will join forces with Square’s Cash App.
IBM returns to M&A market with cloud acquisition
The acquisition is IBM’s first since its $34bn buyout of Red Hat in 2018.
What does survival of the fittest mean for fintechs in a post-COVID-19 world?
COVID-19 has already led to a shift in mindset for many businesses.
What the Fintech? Episode 7 | Open banking & savings
Co-founder & CEO of Plum offers his insights on how COVID-19 affects savings.
SAFE Federal Credit Union goes live on Symitar core
The $1.1bn credit union completed two-year migration.
Icelandic challenger bank indó selects Enfuce
The challenger is gearing up for a launch later this year.
Philippines challenger Tonik raises $21m ahead of 2020 launch
The bank has raised $27m since being founded in 2018.
Open banking start-up truID raises funding to expand customer base
It has raised an undisclosed funding round to help build out its product.
Chase Bank signs mobile banking deal with Sensibill
The fintech to provide receipts management in Chase’s banking app.
Canadian and Taiwanese regulators sign fintech sandbox agreement
The regulators will build a “referral mechanism” between their fintech sandboxes.
Metro Bank in talks to acquire UK P2P lender RateSetter
RateSetter would be bought up at “a knockdown valuation”.
Bank of America goes live on securities platform from Wematch and Pirum Systems
The combined system made its first transaction on 10 June.
