It’s a tale as old as tech start-ups – a software developer creates a new app and is convinced it will take the world by storm. The only problem? No idea how to monetise the brilliant creation. Xconomy (Banking Technology‘s sister publication) reports that a US fintech start-up based in Bloomington, Indiana, called Cheddar aims […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
With unerring predictability, the Hollywood movie machine has churned out a sequel for the energetic and eventful life story of a UK-based payments start-up. As reported in May, the rise of Charon Ferries, the creation of the husband and wife team of Michelle and Mark Morrison (who have defied all known laws of the universe […]
Briskly following yesterday’s (8 November) and Tuesday’s (7 November) fintech funding round-ups, here’s more brief news action. Features WeLab, FinMkt and FriendlyScore. Hong Kong’s lending platform WeLab has raised $220 million of combined Series B+ equity and debt financing – and has won the backing of the Alibaba Hong Kong Entrepreneurs Fund, International Finance Corporation (IFC) […]
Hot on the heels of yesterday’s (7 November) fintech funding round-up, here’s more money action. Features WeSwap, OakNorth Bank and OTCX. Peer-to-peer currency exchange platform WeSwap has revealed its £8 million series B investment round led by London-based private equity firm IW Capital. As WeSwap nears the end of 2017, it says further product features include […]
A major financial institution in India is looking to make a fintech “acquihire” (an acquisition of a company primarily for the skills and expertise of its staff, rather than for the products or services it supplies).
Not cash-strapped just backed. Our latest fintech funding round-up features Douugh, Choice Financial, Monzo and Smartkarma. All rise please. Banking (not baking) challenger Douugh has partnered with community bank Choice Financial to launch an integrated checking account and debit card. Choice has also made an investment to “support Douugh’s roadmap”, bringing the company’s total seed funding […]
A start-up bank in Iraq, Al Qurtas Islamic Bank, has gone live with its core banking system, ICBS, supplied by a Lebanon-based banking tech vendor, BML Istisharat.
Sunlight Payments, a US-based paytech start-up, says it has “successfully tested a new platform to enhance controls and accountability for philanthropic funding and grants”. The test was carried out with Pathfinder International, a women’s reproductive health non-governmental organisation (NGO) that works in 19 countries.
The Bahrain Economic Development Board (EDB) and FinTech Consortium (FTC) have launched Bahrain FinTech Bay (BFB), the “largest dedicated fintech hub in the Middle East and Africa”. The new hub aims to further the development and acceleration of firms as well as the interaction between investors, entrepreneurs, government bodies and financial institutions. BFB, with an […]
France’s latest mobile bank, Orange Bank, is getting its mobile payment and banking services underpinned by Wirecard. The paytech vendor says it is providing “all the technical components integrated into the Orange Bank platform to manage their mobile payments”.
Revolut is building its own in-house processor, following a string of outages caused by its current third party provider.
Tennessee-based Studio Bank has powered up in the US and selected Computer Services Inc (CSI) as its core and mobile banking technology provider. Studio, which filed its application to become Nashville’s “first newly chartered de novo bank in nearly a decade”, plans to use CSI’s NuPoint core processing solution for an omnichannel and “hyper-local” strategy. […]
Germany-based mobile challenger bank N26 will enter the UK market in the first half of 2018. According to N26, the UK is “one of the most advanced markets” in Europe in terms of digital payment methods. It says “non-cash payments and e-commerce are the accepted norm” and reckons there is a demand for a “fully-fledged […]
Start-up YugaByte, which is run by ex-Facebook engineers, thinks it’s got a database that can compete with Oracle and a crowded market of other established proprietary and open source incumbents, reports Enterprise Cloud News (Banking Technology’s sister publication). YugaByte, which comes out of stealth with $8 million funding, says it stands out from the crowd […]
The money rolls for all you fintech souls. Our latest funding round-up features TransferWise, Lendified and Glint. Let’s begin with a big one. TransferWise has got $280 million in a Series E round led by asset management company Old Mutual Global Investors and Silicon Valley VC firm IVP. A source speaking to TechCrunch and “close to […]
Burnley Savings and Loans, a lending company based in Burnley, UK, is awaiting a banking licence from the UK regulator for its Bank on Dave challenger bank.
Advisory tools tech company BondIT landed $14 million in funding from China-based Fosun Group.
Mauritius-based Warwyck Private Bank has signed a deal with Swiss banking software tech vendor ERI to implement its Olympic core banking system.
POPin Video Banking Collaboration is merging with BankOn Mobile Video by Financial Town to create “the first interactive mobile video banking solution” for credit unions, banks and other financial service providers in the US.
Cognitive analytics company Personetics has launched Personetics Act to offer banks a way to help customers repay their student loans ahead of schedule.
Artificial intelligence (AI)-generated marketing campaign company Persado has unveiled a new product, along with a fresh $30 million credit facility to fuel further expansion.
Natasha Kyprianides, group head of digital banking and innovation at Hellenic Bank, gives the lowdown on how to apply the partnership strategy in practice and achieve real results.
Brazilian fintech Nubank will soon be offering digital banking accounts in addition to its credit card business. The move will provide access to billpay, account-to-account transfers, and the ability to earn more in interest than is available with a regular savings account.
Just when you thought there couldn’t be more; the latest stories from the fintech funding world returns for another round. Features Constellation, Credit Sesame and Jirnexu.
A very detailed map of the current fintech landscape, produced by VentureBeat, listing hundreds of companies in the banking, payments, investments, financing, insurance, infrastructure and enabling technologies verticals.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
ING Ventures, a new investment fund set up by ING, has €300 million to pump into fintech companies.
Consumer analytics company SelfScore has rebranded as Deserve.
Citing the strong “alignment between car shopper and car dealer motivation”, Global Lending Services has forged a partnership with auto financing specialist AutoGravity.
Haven Life, a US life insurance start-up, is now offering an alternative way to buy life insurance online through its Facebook chatbot.
More of the latest stories from the fintech funding world. Features Verrency, Countingup, Finn.ai and Bud.
Zain Iraq Islamic Bank for Investment and Finance, a start-up retail bank in Iraq, has opted for the iMAL core banking system from Path Solutions.
Swedish fintech company Tink has signed with Nordic banks Nordea, Klarna and Nordnet. Integrating in 2018, the banks will use Tink’s payment technology and personal finance management (PFM) platform within their existing customer channels.
Sherpa Foundry and Silicon Valley Bank (SVB) have joined forces to launch Silicon Foundry, a membership-based corporate innovation platform.
Bank of Asia, a start-up digital bank in the British Virgin Islands focused on companies that have ties to Asia, has signed for the Avaloq Banking Suite core platform.
Artificial intelligence (AI) fintech start-up Clinc is making its chatbot Finie more widely available through a new partnership with Enacomm.
Argentina-based fintech start-up Ualá has launched a mobile banking service app to champion financial inclusion in the country.
SuperCharger, a fintech accelerator in Asia, has unveiled the opening of applications for its third programme in Hong Kong.
Mosaic Smart Data’s real-time data analytics platform, MSX, has been deployed by JP Morgan to optimise the productivity and profitability of its global fixed income sales and trading division.
