Fintech Roundup - September 2024
This month we're covering:
1. Standard Chartered Receives Green Light To Launch Digital Asset Custody Service in DIFC
UAE digital asset users will be able to take advantage of international cross-border bank, Standard Chartered‘s digital asset custody service as it lands in the country. The service has been given the green light to operate in the Dubai International Financial Centre (DIFC) by the regulator, Dubai Financial Services Authority (DFSA).
Mentioned - The Fintech Times , 渣打银行 , Waldorf Astoria Dubai International Financial Centre , Dubai Financial Services Authority (DFSA)
2. Mastercard acquires Recorded Future in $2.65bn deal
This acquisition is set to enrich the insights and intelligence that safeguard the digital economy, extending beyond the payments ecosystem to a broader digital landscape. Recorded Future boasts an impressive client list of over 1,900 across 75 countries, including 45 government clients and more than half of the Fortune 100 companies.
Mentioned - FinTech Global , 萬事達卡 , Recorded Future
3. Oracle and J.P. Morgan Payments expand collaboration to offer new cloud-based payment integrations
The partnership between J.P. Morgan Payments and Oracle began in 2021 and has focused on delivering enhanced functionality and seamless connectivity for their shared clients.
Building on the success of their earlier collaboration, including the integration of J.P. Morgan Payments’ Banking Services into Oracle Fusion Cloud ERP in 2022, this latest update aims to simplify payment processes, allowing businesses to focus on growth.
Mentioned - FinTech Global , 甲骨文 , J.P. 摩根
4. Nationwide Building Society taps Red Hat for new Business Integration Platform
Harnessing open source technologies like Kafka for distributed event storage and stream processing, and MongoDB for database management, the BIP is expected to enable Nationwide to support one-time password (OTP) authentication and SAP systems, achieve fivefold increases in processing speed, maintain high service availability, and deploy upgrades across its 140 servers with enhanced speed and agility.
Mentioned - FinTech Futures , Nationwide Building Society , 红帽 , Kafka , MongoDB
5. Vision Bank launches digital banking app in Saudi Arabia
Vision Bank, which claims to be the first Sharia-compliant digital bank in Saudi Arabia, has launched its mobile app after two years in development.
Mentioned - FinTech Futures , Vision Bank
6. Zopa Bank Amasses ￡5 Billion in Customer Deposits
The news comes just four years after getting its banking licence and four months after surpassing its previous ￡4 billion deposits milestone.
The achievement reflects the convenience, accessibility and competitive rates offered with Zopa Bank’s award-winning savings accounts.
领英推荐
Mentioned - FF News | Fintech Finance , Zopa Bank
7. Metro Bank wields axe again in cost-cutting drive
The troubled lender will announce that 300 roles are going within its business operations, IT and support divisions.
It is the latest set of job cuts after Metro Bank secured a ￡925m rescue deal last year that saw Colombian billionaire Jaime Gilinski Bacal take control of the business.
Mentioned - Business Plus Magazine , Metro Bank (UK)
8. How Amex became a Gen Z status symbol, and why TikTok won’t give you the full picture
An Amex card is a new Gen-Z status symbol. Just hop on TikTok, and you’ll see plenty of examples. College students flashing their Amex. People in their early 20s learning the powers (and dangers) of having no credit limit.
Young Americans seem to love its metal weight and the image of success Amex cards project. And it’s not an accident: the credit card company has worked hard to make it happen, tailoring it's offers to Gen-Z (ages 18-27) and millennials (ages 28 to 43).
Amex cards can offer incredible value — to the right cardholder. That value, however, shouldn’t be measured by how “cool” it makes the cardholder look. Here’s more about Amex making their way into young people’s wallets and whether it truly belongs there. (Hint: it depends.)
Mentioned - Bankrate , American Express , TikTok
9. JPMorgan could take over Goldman’s Apple Card business
Goldman has issued credit for the Apple Card since its launch in 2019, but the Wall Street and Silicon Valley giants have been trying to untie their partnership since last year. In 2023, Goldman decided to abandon its push into consumer banking, including the $17 billion Apple Card program, because it was seen as a distraction from its core business.
Goldman and Apple reportedly approached multiple lenders about becoming the credit card’s new backer, including American Express. Some of those deals were held up due to the Apple Card’s high loss rate, which may cause Goldman to sell the business to JPMorgan for less than its face value.
Mentioned - TechCrunch , J.P. 摩根 , 高盛 , 苹果 , American Express
BONUS READ - Young Most Willing to Talk Money
Despite the financial pressures facing young people, Natwest's latest Savings Index reveals younger generations are building positive savings habits, breaking traditional taboos around talking about money, and seeking innovative ways through social media to create a more secure financial future.
Mentioned - FF News | Fintech Finance, NatWest
That's all for this month. See you at the end of October ??