Non-bank competitors

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AmEx eyes $850m Kabbage acquisition - Bloomberg

/retail

AmEx eyes $850m Kabbage acquisition - Bloomberg

American Express is in talks to buy online small business lender Kabbage for up to $850 million in cash, including retention payments, according to Bloomberg.

Enova to buy OnDeck for $90m

/retail

Enova to buy OnDeck for $90m

OnDeck, the online lender to small businesses, is being acquired by rival Enova in a cash and stock deal worth around $90 million.

eToro makes acquisition ahead of debit card launch

/wealth

eToro makes acquisition ahead of debit card launch

Online investment platform eToro has furthered its preparations for the launch of its first debit card by acquiring UK-based e-money platform Marq Millions.

Coordinating ESG solution ideation for investment and asset management

/sustainable

Coordinating ESG solution ideation for investment and asset management

In June 2020, Finextra Research welcomed industry experts to Sustainable Finance Live, the first virtual interactive workshop to discuss how financial services firms and technology companies can achieve the UN’s Sustainable Development Goals (SDGs) by 2030.

/startups

Startupbootcamp sets up Dubai HQ

Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia (MEASA) region has announced that Startupbootcamp, one of the world’s most active global industry-focused startup accelerators and investors has established its regional headquarters at DIFC.

Wirecard scandal signals EU regulatory overhaul

/regulation

Wirecard scandal signals EU regulatory overhaul

European Union officials have suggested that there will be changes in the supervision of fintech firms in the wake of the £1.8bn accounting scandal at German payments firm Wirecard.

UK fintech funding slows amid pandemic

/covid-19

UK fintech funding slows amid pandemic

The first half of 2020 has seen investment in the UK's fintech sector slow by more than a third as venture capitalists (VCs) chose to either keep hold of the money or invest in more established companies amid the global pandemic.

Revolut nets £63m from share sale

/startups

Revolut nets £63m from share sale

Digital banking app Revolut has netted £63m ($80m) from US private equity firm TSG Consumer Partners in its latest funding round.

Mission-driven US investors doubling down on financial health value propositions

/startups

Mission-driven US investors doubling down on financial health value propositions

Supporting financially stressed customers has become problematic as more and more people experience uncertain income reduction, triggered by the coronavirus pandemic. Emmalyn Shaw, managing partner at Flourish Ventures, a $500 million mission-driven and fintech-focused venture capital firm, highlights to Finextra Research that despite prolonged economic prosperity in the lead up to 2020, the majority of Americans were living month to month and only 29% of US consumers were financially healthy.

FCA warns PSPs and e-money issuers to improve customer protection

/regulation

FCA warns PSPs and e-money issuers to improve customer protection

In a ‘Dear CEO’ letter the FCA has set out clear requirements for payment institutions (PIs) and e-money institutions (EMIs) operating within the payment services sector to act on new guidance focused on customer protection.

Defining fintech to better understand the changing ecosystem under Covid-19

/startups

Defining fintech to better understand the changing ecosystem under Covid-19

When discussing the amorphous nature of fintech, Tania Ziegler, the CCAF’s Global Benchmarking lead was struck by how ‘fintech’ is increasingly used as an all-encompassing term, describing a diverse range of organisations that all have financial technology at the centre of their operations and agenda.

How the cloud transforms customer experience in financial services

/cloud

How the cloud transforms customer experience in financial services

The bar to meet customer expectations across industries has continued to rise. Digital innovation is changing how companies engage their customers in every interaction, particularly how they deliver information as well as products and services.

Charting a Core Transformation Roadmap to a Future Unknown

/Non-bank competitors

Charting a Core Transformation Roadmap to a Future Unknown

979 downloads

CCAF, World Bank, World Economic Forum launch survey to research fintech’s role post-Covid-19

/startups

CCAF, World Bank, World Economic Forum launch survey to research fintech’s role post-Covid-19

Targeting 15,000 fintech firms worldwide, the Cambridge Centre for Alternative Finance (CCAF) announced it has partnered with the World Bank Group and the World Economic Forum to survey industry players and compile data about Covid-19’s impact on the marketplace.

/startups

CCAF, World Bank and the World Economic Forum investigate Covid-19's impact on global fintech

The Cambridge Centre for Alternative Finance (CCAF) at the University of Cambridge Judge Business School is partnering with the World Bank Group and the World Economic Forum to launch a Global Covid-19 FinTech Market Rapid Assessment Survey. The empirical data collected will be used to understand Covid-19’s impact on the FinTech markets, how the global FinTech industry has responded and some of the immediate regulatory and policy implications.

Built for Mars’ Peter Ramsay: HSBC needs Tom Blomfield-like figure to truly transform UX

/retail

Built for Mars’ Peter Ramsay: HSBC needs Tom Blomfield-like figure to truly transform UX

Built for Mars’ Peter Ramsay has released the fourth instalment of the now sought-after ‘UX for banking’ series where he reviews 12 UK-based banks and reveals whether the experience of opening an account, making a payment or freezing a card is slicker and quicker when banking with the digital challengers.

Neobanks’ Covid-19 recovery will provide the blueprint for future scalability in fintech

/retail

Neobanks’ Covid-19 recovery will provide the blueprint for future scalability in fintech

The fintech industry continues to flourish across Europe, the Middle East and Africa despite economic setbacks such as those that have emerged following the outbreak of Covid-19.

/retail

OVO P2P lending arm score Indonesian license

OVO (PT Visionet Internasional), a leading payments and financial services app in Indonesia, announces that its lending arm, Taralite (PT Indonusa Bara Sejahtera), a FinTech peer-to-peer (p2p) lending services provider, has obtained a business license from the Indonesia Financial Services Authority (OJK) as an Information Technology-Based Lending Provider based on the Decree of OJK Board of Commissioners No. KEP-19/D.05/2020, 19 May 2020. This decree elevates Taralite from its previous “Registered” status given by OJK.

/cloud

Taiwanese neo bank chooses Temenos

Temenos (SIX: TEMN), the banking software company, today announced that Next Commercial Bank (Next Bank), has selected Temenos Transact to power its launch as one of Taiwan’s first neobanks and deliver digital banking experiences that challenge the status quo.

A Panorama of the Changing Banking Landscape in EMEA

/Non-bank competitors

A Panorama of the Changing Banking Landscape in EMEA

1186 downloads

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