Digital Banking | 2022 #18
Weekly news up to Monday, May 2nd, 2022
REPORT
The CV VC Global Report provides a helicopter-mapped synopsis of the booming sectors of the global blockchain ecosystem.
👉Read the full report by Mathias Ruch here.
👀 NEWS HIGHLIGHT
The Monetary Authority of Singapore (MAS) granted “in-principle approval” to fintech firms Revolut and Luno Singapore to offer digital payment token services under the Payment Services Act.
👉 Read the full article here.
From the conflict in Ukraine to the fall of Afghanistan, economic and financial sanctions have never played a greater role in Western statecraft.
👉Download your free copy today.
📊 INFOGRAPHIC
Neo-banks’ Rush for Internationalisation. 👉 Read the full article here.
📰 ARTICLE
Thoma Bravo has approached banking software specialist Temenos about a potential takeover.
👉Read the full Bloomberg LP article here.
👨💻 BLOG
Neobanks have revolutionized banking with their digital products, which have since become benchmarks for other banks.
Now the market is ready for an environmental revolution in banking services, says Julia Ménayas, co-founder of Helios.
👉 Read the full Verve blog here.
💬 INTERVIEW
OneVest wants to make it easier for banks and FinTech startups alike to roll out digital wealth management experiences and services.
“We want to build the most comprehensive embedded wealth management platform and infrastructure in the industry.”
👉 Read the full Betakit article here.
💡INSIGHTS
The $7 trillion embedded finance and BaaS gold rush. Make no mistake about it: Embedded finance is a full-blown gold rush, and everyone and their mother is jumping on the bandwagon.
👉Read all about it in the article by Ron Shevlin here.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🌎 DIGITAL BANKING HIGHLIGHTS
⭐️ WeLab Bank has become the first virtual bank in Hong Kong licensed to offer digital wealth advisory services. Link here.
⭐️ ComplyAdvantage launched a dynamic landing page for tracking sanctions updates on Russia. Link here.
⭐️ Banking Circle Group announced that it has acquired Account-to-Account (A2A) payment provider SEPAexpress to expand its financial ecosystem. Link here.
⭐️ German authorities searched Deutsche Bank’s headquarters in Frankfurt. Link here.
UK 🇬🇧
Starling Bank bags £130.5m from existing investors to build "war chest" for acquisitions. Link here.
Outfund scores £115 million to loan over £500 million to e-commerce firms this year. Link here.
UK banking customers switched their current accounts 196,964 times between January and March 2022. Link here.
Revolut increases cash savings rate to 1% (for top paying UK customers). Link here.
Almost 100 people at the company Revolut focus on crypto and web3’. Link here.
EUROPE 🇪🇺
Gimi partnered with ABN AMRO to help educate young customers about personal finance. Link here.
SEB lands the first BaaS customer with Humla partnership. Link here.
Klarna’s open banking arm integrates Monzo’s gambling block. Link here.
LHV Group invests in core banking startup Tuum. Link here.
Finastra extends collaboration with Orange Bank. Link here.
Mambu extends its partnership with Nordiska Link here.
Rewire works with Paysafe to provide financial services to cash-reliant migrant communities. Link here.
USA 🇺🇸
Copper raises $29M in Series A funding in a “preemptive” round. Link here.
Ohio Sutton Bank and Bankers Helping Bankers announced the creation of the BHB BaaS Association. Link here.
Block Inc. is expanding its small-business loan service to Canada. Link here.
Cogni is joining the ranks of companies hopping on the crypto bandwagon. Link here.
Fiserv reports double-digit growth in revenue, and earnings for Q1. Link here.
Goldman Sachs makes its first bitcoin-backed loan. Link here.
US Bank introduces Spanish-speaking virtual assistant in mobile app. Link here.
Fiserv launches AppMarket to accelerate Open Finance. Link here.
LATAM
Nubank may pay up to BRL 816 million to its top executives. Link here.
ASIA
Modalku announced its investment in Indonesia’s Bank Index alongside Carro. Link here.
Bank Negara Malaysia finally announced the list of successful applicants. Link here.
MYbank reported that it served over 45 million SME clients at the end of 2021. Link here.
Finbots.AI announced it has raised a successful Series A round of USD 3 Million. Link here.
Grab to receive a full digital banking license in Malaysia. Link here.
AUSTRALIA 🇦🇺
Up bank is on a mission to upend how banking works in Australia. Link here.
OPPORTUNITIES
Mozper is looking to hire for the following positions:
Banco Santander and Oxentia Foundation are inviting startups and scaleups from 11 countries to compete in a blockchain challenge and the chance to win cash prizes. Link here.
Wise is preparing to scale it up to over 100 staff in Austin, Texas office. Link here.
