ScaleFactor closes $60m Series C funding round
The platform has since raised $100m in 12 months.
North America
JP Morgan Chase invests in accounting software platform FreshBooks
A JPMC representative will be joining FreshBooks’ board.
Fintech partnerships: the real benefit of Open Banking for incumbent banks
A deep dive into where the real value lies in Open Banking for incumbents.
Tesla-fy your bank
Will banks ever truly reinvent banking?
First-time homebuyer platform Morty raises $8.5m
The funding was led by New York-based investor Prudence Holdings.
Robinhood gets greenlight from FCA to launch trading app in UK
The 2013-founded Silicon Valley start-up offers a cheaper way to buy and sell US stocks and shares.
RBC launches student experience on mobile app
The ‘Mobile Student Edition’ is designed to tap into the Gen Z market
Trov partners with Lloyds and launches white-label insurtech platform
Later this year, Trov and Lloyds Banking Group will release an insurance product on the ‘Powered by Trov’.
Klarna bags $460m equity funding
It’s now the most valuable EU fintech with a valuation of $5.5 billion.
Libra cryptocurrency users face taxing problem
It is not clear how Facebook intend to solve this problem.
Nasdaq uses AI to root out stock-market abuse
It detects irregular trading patterns and alerts officials according to machine-learning.
Federal Reserve reveals real-time payment system plans
FedNow will be available to all US-based banks by 2024.
Almost half a million Monzo customers affected by data breach
The data leak allowed staff engineers access to PINs stored in encrypted log files.
Insurwave onboards Xceptor to digitise insurance documents
Xceptor uses AI to to extract and transform any type of data from any source.
ASOS and Klarna bring flexible payments to the US
The US will pay in four scheduled bi-weekly instalments to reflect the US salary schedule.
Three lessons traditional banks can learn from their younger siblings
Teamwork, transparency and creating a competitive culture is key.
Grayscale selects Coinbase to store $2.7bn worth of assets
Coinbase Custody had reached $1 billion in crypto AUM in May.
Western Union and MoneyGram report losses
Western Union is chopping its workforce by 10%.
Big banks are driving fintech to the mainstream
And it’s happening faster than you think!
CFTC charges trader with spoofing in financial futures markets
The filing and settling charges are against the trader, Benjamin Cox.
The importance of specialised standard software for MAD/MAR compliance
Experience and insights from three years of practical use.
Rakuten applies for US banking charter
The ABA expressed serious concerns Rakuten gaining a banking charter.
First Data and Bank of America end paytech partnership
Fiserv’s First Data will provide services to its current client merchants until June 2023.
Capital One reveals huge data breach by hacker
More than 100 million customers’ details were compromised in the incident.
Gay is for life, not just for June
Fintech firms can and must do more.
SME lender B-North welcomes funding
Manchester-based B-North has applied for a banking licence.
Top fintech stories this week – 26 July 2019
Catch up on FinTech Futures’ top five stories this week!
WhatsApp Pay coming to India later this year
It will need to comply with all of the regulations ahead of its launch.
Digital US equities investment product launches in India
DriveWealth has partnered with Vested Finance.
Wematch unveils Euro IRS platform with 10 banks onboard
JP Morgan, RBC, HSBC and Societe Generale are among the initial banks.
Synechron launches new Libor impact analysis software
Its Accelerator uses data science to address the industry benchmarking challenge.
Moody’s acquires fintech RiskFirst
The acquisition will boost Moody’s Analytics’ offering.
Mbanq backs Arival Bank by acquiring shares
Arival also has its sights set on a Series A round of $10 million later this year
Swell announces closure
The investment platform did not reach the required scale to survive.
FIs choose Cloudera for digital transformation
Cloudera enables digital transformation for global financial services institutions.
AcadiaSoft announces technology partnership with CloudMargin
The firms collaborate to provide an industry solution for uncleared margin rules.
Swift shifts from MT to XML format
Payment transfers will be shifting to the ISO 20022 standard.
Robinhood raises $323 million in Series E funding
The new round of funding values the company at $7.6 billion.
Busey selects Jack Henry to support growth
The SilverLake System is believed to be replacing CSI’s NuPoint.
Let’s work together
Bank-fintech collaboration should take priority on this year’s Sibos agenda.
