Digital Banking: | 2023 #44
Weekly news up to Monday, 6th of November 2023
REPORT
It's a critical time for the banking and payments industry in Australia.
► Successful leadership of the first phase of Australia’s ISO 20022 Industry Migration Program
► Significant progression of work to become an authorised standards-setting body
► Facilitation of ECF to disrupt economic crime targeting Australians, including scams
👀 NEWS HIGHLIGHT
In a move to revolutionise traditional wealth management, fintech heavyweights Ricky Knox, Nick Perrett, and Phil Bungey have secured £3.2m in pre-seed funding to launch a new low-cost digital wealth app, Prosper
📰 ARTICLE
Sadapay announced to have integrated with Apple Pay and GPay, which would allow Pakistani freelancers to get their money directly.
🎤 PODCAST
🧐 ANALYSIS
Despite the rapid expansion of neobanks in the UAE, they are unlikely to generate a significant migration from traditional banks to neobanks in the foreseeable future, a report showed.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🔦 DIGITAL BANKING HIGHLIGHTS
⭐️ Charlie’s senior-focused banking puts new funding toward stopping fraud.
⭐️ Visa trials tokenised deposits for e-HKD pilot programme.
⭐️ HSBC becomes first bank in the world to offer tokenised gold.
⭐️ Introducing White-Label App: The full power of banking and lending – with one line of code.
🌎 REGIONAL HIGHLIGHTS
UK 🇬🇧
Anthony Thomson, the co-founder of Metro Bank and founder of Atom Bank, discusses the UK challenger bank landscape and his new accelerator venture.
Revolut introduces Trading Pro across the EEA: a powerful set of tools for advanced traders.
Monzo and Starling are among the lowest scoring firms for reimbursing victims of authorised push payment fraud, according to 2022 data published by the Payment Systems Regulator.
Mettle, the free business bank account built for the self-employed by NatWest, now offers the award-winning accounting software FreeAgent‘s tax calculation in-app.
Atom Bank raises £100m in equity funding from existing investors. Atom said the money will be used to accelerate the bank’s lending and balance sheet growth, with the bank continuing to operate profitably.
Barclays increases transparency of credit card transactions with Mastercard and Ethoca.
LATAM
Prex has made significant strides in the fintech industry of Latin America, marking over 2 million users across the region.
Ualá, the Argentine fintech with banking licenses in Mexico and Colombia for unlimited card deposits, credit cards, and remittances, partnered with Soriana stores in Mexico.
QI Tech has raised $200 million in a Series B round of funding led by General Atlantic. The raise is believed to be the largest in Brazil this year so far.
MIDDLE EAST
First Abu Dhabi Bank introduces SlicePay BNPL card in the UAE powered by Mastercard.
MOVERS AND SHAKERS
Revolut hires ex-Molo CEO Francesca Carlesi as new UK banking chief.
If you are a fintech startup and have over 100 questions send me an email, maybe I can answer a few.