Digital Banking | 2023 #7

REPORT

'Banking is getting personal' highlights the importance for retail banks to support customers through the current economic climate – and how to do it with personalized financial services.

REPORT

Banks can no longer afford to ignore the needs of small-and medium-sized enterprises .

This segment now accounts for 30-50% of the economy across EMEIA and is ripe for the picking by challenger brands and fintechs.

REPORT

Whether creating a green-field bank or seeking to transform an existing one, how can you ensure that any new platform is future-proof?

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?? NEWS HIGHLIGHT

Revolut launched a donations page on its app for users to support victims of recent earthquakes in Turkey and Syria.

Donations can be provided through the Revolut app where users can select charities such as UK for UNHCR, The Irish Red Cross, Disasters Emergency Committee and three member charities Save the Children, and more.

?? SPONSORED CONTENT

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?? PODCAST

In this episode, Peter Hazlehurst, CEO of Synctera gives lessons about 30 years of building FinTech companies.

?? PODCAST

In this episode, the host John Siracusa chats remotely with Dee Choubey ,?Founder & CEO at MoneyLion.

NOW, ON TO THE SUMMARY OF LAST WEEK'S?NEWS

?? DIGITAL BANKING HIGHLIGHTS

?? Current launch a rebrand that aligns the brand to its mission .

?? Chase revealed its first tie-up with Nutmeg and offers ￡100 investment boost for joining Nutmeg.

?? Trustly partnered with PointsBet to offer its players Instant Payouts in the United States, powered by Cross River.

FinTech Meetup in Vegas is just around the corner and I will start and close it with a bang. Join me and let's do this together!

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?? REGIONAL HIGHLIGHTS

UK ????

Revolut is now offering stock trading for its Singaporean customers.

A central bank digital currency is currently being explored by the Treasury and the Bank of England.

Atom Bank forecasts 2022 annual profitability as deposits hit ￡6bn .

The Bank of London extended its Series C funding round by?$40m to now reach $160m.

Kennek closed a $4.5m pre-seed funding round to scale-up its European operations.

Monzo searches for US CEO to double down on expansion.

Jupiter Asset Management has flogged its stake in Starling Bank and enacted a policy to stop its open-end funds from buying up shares in private companies.

ekko revealed a series of unique product updates and opened up its service to employers, banks and payment providers for the first time.

Omnio completed a 9m euros equity funding .

Tide completed its acquisition of credit finance marketplace Funding Options.

EUROPE ????

Companjon announced a partnership with bunq which brings bunq users an end-to-end embedded insurance solution that automatically compensates for the financial loss incurred.

Lunar raised €35m to help accelerate its path to profitability and has 500,000 retail customers and 15,000 business customers.

USA ????

Finzly releases API connection to access FedNow service.

Fierce emerged from stealth with $10 million in seed funding.

FTC orders MoneyGram to return $115 million to scam victims .

CANADA

EQ Bank partnered with Mastercard to launch the EQ Bank Card .

Canadian small businesses are ready to seize the opportunity of open banking .

ASIA

SMBC announced the launch of “Olive” , an all-in-one card that combines a Sumitomo Mitsui Banking account, credit, debit, and point payments.

Asia Alliance Bank signed for a new core banking system from Temenos.

AUSTRALIA ????

Financial Data and Technology Association calling on Australia's competition watchdog to intervene in ING Bank's planned upgrade to an Open Banking-related system.

MIDDLE EAST

Savii announced its official product launch in the UAE , Savii app.

AFRICA

Umba launched operations in Kenya as it begins to expand across the continent and aims to make it easier for consumers and SMEs to interact with banks and mobile money networks.

MOVERS AND SHAKERS

SEBA Bank appointed Amy Yu as the CEO of its APAC division.

BankiFi selected Steve Ellis as the board’s newest member.

Tuum announced the appointment of Edgardo Torres-Caballero as Chief Revenue Officer.

Metro Bank appointed Richard Saulet as managing director, consumer finance.