Digital Banking | 2022 #52
Weekly news up to Monday, December of 26th, 2022
👀 NEWS HIGHLIGHT
Revolut’s long-awaited 2021 accounts have been finalized, however, the fintech will miss its 31 December deadline to publish them.
Instead, the company will now publish its overdue accounts “in the new year”, AltFi can exclusively reveal.
HMRC requires company accounts to be filed on Companies House nine months after the financial year ends, however, Revolut missed its original September 2022 deadline and had this extended to 31 December, a date it will also now miss.
👉 Read the full AltFi article here
👨💻 BLOG
Clients no longer have to wait up to 3 days for payments to clear.
Investment opportunities are snapped up so quickly on Kameo, Scandinavia’s leading real estate investment platform that traditional payment methods can’t keep up. Instead, most investors place their bids through pre-cleared funds in their Kameo accounts.
👉Read the full Klarna Kosma case study here
📰 ARTICLE
The term “super app” has been tossed around the tech world for quite some time now, with Blackberry founder Mike Lazaridis being one of the first to define the term at the 2010 Mobile World Congress.
Lazaridis referred to super apps as “a closed ecosystem of many apps that people would use every day because they offer such a seamless, integrated, contextualized and efficient experience.”
👉Read the full Super Apps story by Timothy Motte here
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🔦 DIGITAL BANKING HIGHLIGHTS
⭐️ Viva Republica finalized a $405 million Series G funding. Link here
⭐️ Alex Bank secures APRA license to operate as ADI. Link here
⭐️ The European Central Bank will finalize the overall design of a digital euro in the second half of next year. Link here
⭐️ TSB fined £48.65m for massive IT meltdown that caused accounts lockdown. Link here
🌎 REGIONAL HIGHLIGHTS
UK 🇬🇧
Revolut is inviting students to “help us conquer the fintech universe”, as it launches a paid internship and one-year grad scheme next year. Link here
LHV UK will start issuing SME loans backed by commercial property starting from £500,000 after receiving approval from the Financial Conduct Authority. Link here
Santander has the plan to start with 28 self-serve bank card recycling machines. Link here
Monzo won a trademark ruling against a London-based snack bar that named itself Monzo Closet. Link here
GoCardless becomes the first ‘PayTo ready’ international payments company. Link here
Atom Bank is making its four-day workweek pilot permanent for all staff in 2023. Link here
SME lender Recognise Bank raised £25m to bolster the firm’s lending. Link here
USA 🇺🇸
Green Dot Corporation and Wealthfront extended their partnership. Link here
FinWise Bank selected Fusion Phoenix as its new core banking solution. Link here
ASIA
UNO Digital Bank formed a partnership with AI-powered credit scoring platform Trusting Social. Link here
HSBC Bank launched a wealth management center in Taipei to offer customers comprehensive financial planning and investment strategies. Link here
AFRICA
Intellect Global Consumer Banking announced that a new Ethiopian bank chose Intellect Digital Core, to power it’s banking. Link here
MOVERS AND SHAKERS
Gavin Hewitt joins the Bank of London’s executive team as group chief financial officer. Link here
Coastal Community Bank appointed Barb MacLean as senior vice president, and head of technology operations and implementation. Link here
If you are a fintech startup and have over 100 questions send me an email, maybe I can answer a few.