Start-up


LendIt and Capital One launch fintech start-up competition

Lend me your ears… and eyes. LendIt and Capital One are to co-host PitchIt @ LendIt, a competition to “find a future star of the fintech world”. The competition is aimed at firms innovating within the online lending and fintech space. It provides a showcase for eight firms to pitch their business case to a […]

Blockchain payments start-up SnapSwap now an electronic money institution

Luxembourg-based start-up SnapSwap, which offers blockchain-based payments, has received authorisation to operate as an electronic money institution (EMI). The firm says the EMI licence, provided by the Ministry of Finance of Luxembourg, allows it to issue debit cards and other payment instruments linked to Gloneta accounts. The latter combines a mobile messenger (chat) with cross-currency […]

Dassault Systemes launches KYC/AML challenge for start-ups

French software firm Dassault Systemes is inviting start-ups to apply to its “3D Fintech Challenge” to address anti-money laundering (AML) and Know Your Customer (KYC) issues. As part of its overall 3DExperience Lab initiative, the seven-week programme will identify and help nurture six start-ups that can provide systemic warnings and a 360-degree view of customer/support […]

New credit union coming to Isle of Man

A group of volunteers is in the process of setting up a new credit union in the Isle of Man – Manx Credit Union. The Manx Credit Union Working Party has been set up, chaired by David Talbot, a retired accountant. “It is non-political and non-denominational,” the Manx Credit Union website states. The volunteers come from […]

Playing games with Mondo’s name change

Changing your name from Mondo to Monzo does not warrant a news story –  unless a rival challenger bank makes some fun out of it. A trademark dispute with another Mondo entailed the new moniker and much unnecessary fanfare. While Monzo revelled in its new name and ignored media queries, Starling Bank decided to do […]

Fintech funding round-up: 26 August 2016

They said it. We read it. We edit. A round-up of some key events in funding. Singapore-based MC Payment has raised SGD $6 million ($4.5 million) in a Series B round. The funds will be used to “drive market expansion” into Australia and in southeast Asia, as well as “enhance” its product offerings, including Xaavan, […]

Top fintech stories this week – 26 August 2016

Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Temenos and BACB go public on core banking software project We knew back in February. Al Hilal Bank’s new CIO looks to collaborate with fintechs Let’s talk. Famous five unsettle Bitcoin with utility settlement coin Arrival of a […]

Innotribe and Innovate Finance launch global hub federation

Innotribe, Swift’s innovation arm, and membership organisation Innovate Finance have launched a Global FinTech Hubs Federation (GFHF) to help foster innovation. To date, more than 20 countries – including Canada, China, Germany, Mexico, Switzerland, and the UK – are participating in the GFHF, with more countries expected to join in the coming months. Lawrence Wintermeyer, […]

Nordea has every idea for start-ups worldwide

Nordea’s Oslo office will welcome 35 start-ups as the bank prepares to assist the firms in fintech innovation. During the week, the best projects (around 20 teams) will be selected to take part in Nordea’s Accelerator programme, which kicks off in the autumn in Stockholm and Helsinki. In total, over 200 companies applied to the […]

Octopus Investments launches Octopus Labs for fintech start-ups

A UK-based investment firm, Octopus Investments, is looking to onboard fintech start-ups for its 12-week accelerator programme with Octopus Labs. “We’re rebuilding financial services,” states Octopus Labs. “The financial services sector is broken. We’re on a mission to rebuild it.” The programme will provide mentoring, office space in central London, plus potential access to Octopus […]

Top fintech stories this week – 19 August 2016

Catch up on Banking Technology’s top five fintech stories of the week – all in one place! New core banking project for Temenos in Canada Exclusive. Credit union in British Columbia goes for T24. Swift slow on strong security say execs “Took their eye off the ball.” Volksbank pioneers NCR Innovation Experience Room An “experimental […]

Lunar Way gets new investor and banking partner, Nykredit

Nykredit, Denmark’s largest mortgage provider, has invested in a minority stake in a new mobile banking service, Lunar Way, and has become its banking partner. In two months’ time Nykredit will replace Københavns Andelskasse (Copenhagen Cooperative Bank), the start-up’s initial banking partner. Mark Dissing Bækgaard, head of marketing and communications at Lunar Way, tells Banking […]

New T24 core banking software client for Temenos in Ghana

Ghana-based banking start-up, Sovereign Bank, has implemented Temenos’ T24 core banking system. The project was delivered by a local integrator and Temenos’ regional partner, Global Solutions. Sovereign Bank was among the three entities granted banking licences last year. The other two are Heritage Bank and Union Savings and Loans. Sovereign Bank is a universal bank offering […]

Discovery in core banking system selection mode for new bank

One of South Africa’s largest health insurers, Discovery, is a step closer to selecting a core banking system for its new bank, Banking Technology understands. Discovery went public on its plans to launch a brand new full-service retail bank in South Africa last year. As part of this ambition, it acquired the majority stake in […]

Meridian Credit Union plans to take on top Canadian banks by launching own bank

One of Canada’s ten largest credit unions, Meridian CU, is looking to launch a new digital bank and has applied for a banking licence. “We believe, and our research shows, that there is a clear desire in the marketplace for an innovative digital bank that offers a true full-service alternative to the big banks,” states […]

Thomson Reuters teams with Oddup for start-up rating app

Thomson Reuters has teamed with Oddup to launch a new app that rates fintech start-ups in Asia. The “first of its kind in Asia”, the app is now available on Thomson Reuters’ Eikon App Studio and provides ratings, which Thomson Reuters says enables people to “stay on top” of the growing Asia fintech scene. James […]

UK challenger Mondo looks to fund full bank launch

UK-based challenger Mondo is looking for another £15-20 million in funding as it looks to launch as a “full bank”. Last week, Mondo got its banking licence from the Bank of England. However, Tom Blomfield, CEO at Mondo, say that “authorisation comes with restrictions”. It can only hold a maximum of £50,000 of deposits in […]

Payments start-up Cookies launches in Germany

Berlin-based start-up Cookies has launched its peer-to-peer (P2P) payment app in Germany. The app is in its beta phase and currently in invite-only mode. Everyone who registered on its website in the past few weeks and months gets a personal invite code, allowing them to use the Cookies App. It says anyone who’s not yet […]

Fintech funding round-up: 15 August 2016

Let’s put the fun in funding by keeping it mercifully brief. A round-up of some key events. Finova Financial’s cloud and mobile-based consumer auto title lending platform raised $52.5 million in a combination of equity and a credit facility, one of the “largest initial rounds in fintech industry history”. The funding round was led by […]

Cutover start-up passes Nationwide digital banking test

Nationwide Building Society has “successfully” tested UK start-up Cutover’s release management software during digital banking maintenance releases this month. Cutover’s software provides a platform for teams to plan, rehearse and execute events and gives real-time communications to those involved. Matt Cox, head of insight and innovation, Nationwide Building Society, says Cutover’s prototype “clearly demonstrated the […]

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