Finextra Research: Latest fintech news, analysis, interviews, features and opinion by industry experts

Bank of Amazon could woo 70 million US customers within five years

Bain and Co, estimates that a banking service from Amazon could swell to more than 70 million US customer accounts within five years, equalling the size of the country's third largest bank, Wells Fargo.

09 March 2018

News/Non-bank competitors

Amazon talks to banks over checking account - WSJ

Amazon has begun talking to banks, including JPMorgan Chase and Capital One, about developing a checking account-style product for its millions of customers, according to the Wall Street Journal.

05 March 2018

Company update/Non-bank competitors

M&S Bank moves into mortgages

M&S Bank has today (26 January 2018) launched its first mortgage range. In addition to a number of fixed and tracker options available to home movers and customers looking to remortgage, M&S Bank has also developed a first time buyer range to support those trying to get a first step on the property ladder.

26 January 2018

News/Non-bank competitors

SoFi names Twitter COO Noto CEO

Online lender SoFi has named Twitter COO Anthony Noto chief executive officer, filling a position vacated by co-founder Mike Cagney, who left last year amidst allegations of sexual harassment at the firm.

23 January 2018

News/Non-bank competitors

China regulator says fintech must serve real economy

One of China's senior financial regulators has stated that the government will only support fintechs that serve the real economy, casting further doubt on the future of virtual currencies and related technologies within China.

16 January 2018

News/Non-bank competitors

Europe begins Open Banking era in subdued style

The EU's second Payment Services Directive (PSD2) took effect on Saturday 13 January, bringing with it the start of Open Banking, however the prospect of a sudden revolution is likely to be thwarted by unresolved technical and regulatory issues and a lukewarm reception from consumers.

15 January 2018

News/Non-bank competitors

FinTech Scotland appoints new CEO

The industry body set up to promote the fintech sector in Scotland has named Stephen Ingledew as its first chief executive.

12 January 2018

News/Non-bank competitors

Buffett rubbishes cryptocurrencies; South Korea preps exchange crackdown

Warren Buffett, arguably the world's most successful and respected investor, has issued a scathing assessment of cryptocurrencies and predicted a "bad ending" for the current bitcoin boom.

11 January 2018

News/Non-bank competitors

SETL goes live with blockchain funds platform

SETL, a blockchain-based settlement system for the investment funds industry, has gone live with its pan-European funds record keeping platform IZNES having successfully processed its first transactions.

11 January 2018

Company update/Non-bank competitors

Travelex appoints chief innovation and transformation officer

Travelex, a leading global foreign exchange and money transfer specialist, announces that Gareth Williams, currently Global HR Director, is to take on the newly created role of Chief Innovation and Transformation Officer in addition to his current mandate.

11 January 2018

Company update/Non-bank competitors

YieldStreet closes $12.8m Series A round; scores $100m in revolving credit facility

YieldStreet, the alternative investment platform working to change the way wealth is created, today announced that it has closed a $113 million financing round.

10 January 2018

Company update/Non-bank competitors

Asian Financial Forum to showcase 20 startups

The InnoVenture Salon will debut at next week's Asian Financial Forum (AFF), to foster start-up development.

10 January 2018

Company update/Non-bank competitors

MoneyMe secures A$120m capital facility

Australian consumer lending fintech, MoneyMe, has finalised an AU$120 million asset-backed wholesale securitization facility led by $100 million from global investment manager, Fortress Investment Group, and joined with $20 million of bonds issued by corporate advisory, Evans & Partners.

27 November 2017

News/Non-bank competitors

Cleveland Fed report comparing P2P lending to subprime mortgages removed for revision

A Federal Reserve Bank of Cleveland report which compared the peer-to-peer lending industry to the subprime mortgage market has been temporarily taken offline after questions were raised about the underlying data set.

21 November 2017

Company update/Non-bank competitors

F10 Fintech adds Zürcher Kantonalbank to its incubator

F10, Switzerland’s leading FinTech startup accelerator and incubator, today announced the news that Zürcher Kantonalbank, Switzerland’s largest cantonal bank has joined as a corporate member, effective as of December 1st, 2017.

17 November 2017

News/Non-bank competitors

Amazon Cash comes to Canada

Canadians can now top up their Amazon accounts by handing over cash or debit cards at their local post offices.

14 November 2017

News/Non-bank competitors

Fed researchers compare P2P lending to subprime mortgages

The peer-to-peer lending industry has the potential to destabilise consumer balance sheets, with loan performances bearing a striking resemblance to the subprime mortgage market before the 2007 crisis, warns a new paper from the Cleveland Federal Reserve.

10 November 2017

News/Non-bank competitors

Bank of Amazon? US regulator calls for rethink on separation of banking and commerce

A senior US regulator has floated the possibility of ending the long-standing separation of banking and commerce, paving the way for the likes of Amazon, Facebook and Walmart to take on Bank of America, Wells Fargo, Citi et al.

08 November 2017

News/Non-bank competitors

Facebook Messenger P2P payments arrive in the UK

British Facebook users can now send money to each other through the social network giant's Messenger app.

06 November 2017

News/Non-bank competitors

Payments transformation: banks reveal why it is worth it– new Finextra report

Payments transformation is central to banks’ view of how their business will develop. And answers are being formulated as to how real time can generate new revenue streams, as revealed in a new survey by Finextra, in association with Dovetail, now part of Fiserv.

06 November 2017