NEWS – Page 7 – Fintech First

The Future of Banking Is … You’re Broke

The latest wave of tech-based financial startups have a new angle on the banking sector: They’ll assume that everyone is out of money, then try to monetize their brokeness

Google set to offer banking current accounts

Google has become the latest big tech firm to move into banking by offering current accounts

Facebook Pay consolidates payments across apps

Facebook is taking on Venmo, Apple Pay and others with a consolidated payments service that works across its main app, Messenger, Instagram and WhatsApp

EU banks contemplate rival to card schemes and Big Tech

Twenty European banks are reportedly working on the development of a rival payment system to challenge the dominance of Visa and Mastercard and the threat from Chinese and US Big Tech firms

FCA’s new rules on Buy Now Pay Later come into force

The UK Financial Conduct Authority's new rules in the Buy Now Pay Later (BNPL) market come into force today, a move which the regulator believes will save consumers around £40-60 million a year in interest payments

Nigeria’s top fintech company is set to be Africa’s first home-grown unicorn with Visa investment

Global payments giant Visa is paying $200 million for 20% stake in Interswitch, the 17-year old Nigerian electronic payments company, UK’s Sky News reports

BIS: Moving fast and stablising things

Benoît Cœuré to head coordinated central bank response to innovation challenge from the private sector

Deutsche Bank tech failings hit thousands of payments

Bank retreats on letter to BoE that CHAPS improvements were on track

Fintech Startup Raises $16 Million, Buys Assets From Aon Affiliate To Administer Extended Warranties

Less than a year after Woodrow Levin’s interest in online insurance was piqued by fantasy football, his fintech startup is acquiring part of an insurance giant

OneCoin scam renews calls for crypto regulation

The trial of crypto scam OneCoin's lawyer has renewed calls for robust regulation of cryptocurrency to address weaknesses of "human failure and human criminality"

Deutsche Bank collapse rebuttal sets off Twitter storm

The Deutsche Bank social media team has caused a Twitter storm after moving to deny a story published by conspiracy blog Zero Hedge that it was on the verge of collapse

Where top VCs are investing in fintech

Over the past several years, ‘fintech’ has quietly become the unsung darling of venture.