Banks and Fintechs are duelling in a ‘War For Talent’
Banks may be losing the talent battle to London’s financial-technology industry, but the war for the customer is still to come. Europe’s financial technology startups are on hiring mode, fighting each other – and the incumbents — in what one executive described as a “war for talent.” Payments company GoCardless Ltd., which employs 170 people in London, will open a Paris office in February, said chief product and technology officer Carlos Gonzalez-Cadenas. Online lender LendInvest Ltd. said it will make a “concerted effort” to hire additional engineers in London this year, while Salesforce.com Inc.-backed software company Anaplan Inc. says hiring engineering talent is its current priority. “Last year, we went […]
UnionPay International signs long-term partner agreement with global payment innovator Verrency
Verrency today signed a long-term agreement with UnionPay International (UPI), a wholly owned subsidiary of China UnionPay (CUP), to offer Verrency’s innovative value-added services to Union Pay’s issuing banks across Asia. Verrency’s services will be delivered via the UPI Wallet, Union Pay’s innovative API service. Signing the formal agreement were David C. Link, Chief Executive Officer/ Executive Chairman, Verrency, and Shuan Ghaidan, Product Director, UnionPay International. Shuan Ghaidan said: “We are very glad to be working with Verrency to offer further control, service, convenience and security to our customers. Verrency’s innovative services will further enhance the value of the UPI Wallet and the value that Union Pay enables for its issuers. […]
Standard Chartered creates fintech investment unit
Standard Chartered said on Wednesday it had established a business unit to invest in financial technology and promote innovation. Dubbed SC Ventures, it will include internal consultants to help the rest of the group solve problems with technology and a team to sponsor and oversee new disruptive technology ventures owned by StanChart. Another part of the new unit will focus on managing the bank’s minority investments in ‘fintech’ and seeking new ones to back. “As new technology continues to play an ever more important role in banking, there is a huge opportunity for us to promote more innovation,” said Michael Gorriz, group chief information officer. StanChart already backs Ripple, a […]
UK fintech start-up Revolut raises $66 million, adds bitcoin
The “global banking alternative” Revolut has raised $66 million in a fund-raising round, the start-up said on Wednesday, in the latest sign that London is so far weathering Brexit to remain a global financial-technology center. Led by Europe- and San Francisco-based venture capital fund Index Ventures, the fund-raising round was one of the biggest ever Series B rounds in Europe. It should provide some comfort to the British capitol as it jostles to hold onto its reputation as Europe’s leading hub for the nascent fintech sector. The investment dwarfs the 19.5 million pounds ($25 million) raised by London-based rival Monzo in its Series B round earlier this year. Revolut, which […]
London fintech Curve closing in on $10M Series A
Curve, the London fintech startup that offers a platform that lets you consolidate all your bank cards into a single Curve card and manage your money, is on the verge of closing $10 million in Series A funding. According to sources, the round, which could be announced as soon as this week, is being led by Connect Ventures, with participation from Santander Ventures, the venture arm of Spain-headquartered bank Santander Group. A number of other investors from the fintech and banking world are also participating, although I haven’t been able to pin down who they are. It is also not clear if this Series A includes an earlier bridge round […]
Fintech startup Tide got a $14 million boost
Banking startup Tide raised $US14 million in one of the largest Series A funding rounds closed by a fintech company this year. Tide, a digital-only banking app aimed at small businesses, has also partnered with online lender iwoca, in a move to allow small companies access to loans of up to £100,000. The funding round was led by specialist fintech investor Anthemis, along with Passion Capital, LocalGlobe and Creandum, the company that backed Spotify. Tide plans to almost double its London team by the end of the year, and develop more features to make online banking for small and medium sized businesses (SMEs) more efficient. Some of these features, says […]
Three regional fintech winners unveiled at Citi Tech for Integrity Challenge in Dublin
Citi has unveiled three winners from its regional Tech for Integrity Challenge (T4I) Demo Day held in Dublin last week, garlanding Aid:Tech, Paycode and Pole Star with the T4I Award for innovation. The global program aims to promote accountability and transparency in the public sector and beyond by supporting the effective use of financial technology (fintech) solutions and monitoring technology. It is run by Citi’s internal fintech team, treasury and trade unit, and Citi Ventures, its technology accelerator, investment and collaboration arm. Facebook, IBM, MasterCard, Microsoft and PwC are some of the other partners involved in judging the competition. The idea is to support small start-up companies’ applications on beneficiary […]
Lendy hits £300m investment mark
The slowdown in bank lending prompted by the Brexit vote has helped Lendy hit the £300m investment mark in April, having channelled £50m to property borrowers in the last 100 days alone. With new loans on the peer-to-peer platform often up to five times oversubscribed, the firm was able to add three larger-size loans over the last three months, it told Peer2Peer Finance News. It directed £7.5m to the purchase and redevelopment of a commercial building in Marylebone, £5.7m to the development of a major residential building on Liverpool’s waterfront and £2.4m to the development of a major student accommodation complex in Huddersfield. The firm said it was able to […]
