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YES Bank in talks with mutual funds for raising up to $500 million

YES Bank has approached domestic asset management companies (mutual funds) for raising fresh equity capital worth $300-$500 million. This comes amid a slew of rating downgrades and stress on its loan book.

Subscription-based Banking Challenger Aion Establishes Business Operations in Belgium

​Aion, a newly launched subscription-only banking service provider, is establishing its business operations in Belgium. The bank’s management says that it wants people to get the most out of their money.

Inundated by IoT: How Carriers Can Leverage a Trillion IoT Devices with Nationwide, CNA and Everest Re

Define your IT innovation strategy or risk becoming irrelevant, according to insurance leaders. Almost daily, a new disruptive technology is developed with far-reaching effects on the industry.

Pockit locks pockets: fintech hit by claims it’s withholding customer funds

Pockit, a ‘challenger bank’ that provides vulnerable people with financial services, has received a flurry of claims that it’s locking accounts and withholding customer funds. The financial service is backed by Sir Alex Ferguson and venture capitalist Jon Moulton.

Thought Machine nabs $83M for a cloud-based platform that powers banking services

As one mark of that switch, today a startup called Thought Machine, which has built cloud-based technology that powers this new generation of services on behalf of both old and new banks, is announcing some significant funding — $83 million — a Series B that the company plans to use to continue investing in its platform and growing its customer base.

Financial Infrastructure Developer Banking Circle Receives Banking License from Luxembourg’s Financial Regulator

Banking Circle, a financial infrastructure developer, has been awarded a banking license from Luxembourg’s financial regulator. Established in 2013, Banking Circle serves as an alternative to the high-cost traditional banking network. The company’s services aim to provide greater financial utility, allowing Fintech firms to gain access to real-time payments without making large investments into upgrading their own internal systems.

Revolut-rival Monese set to make 30 employees into millionaires as it eyes unicorn status

Monese, a digital banking app for expats, is expecting to turn 30 employees into paper millionaires after its next fundraise, which will reportedly value the company at £1bn. In an interview with Sifted, chief executive Norris Koppel declined to comment on the alleged valuation but said that Monese’s staff equity scheme had already minted over 20 paper millionaires — with several more expected at the next round.

Target Global launches €120 million Early-Stage Fund II to back tech founders across Europe

International investment firm Target Global has launched its €120 million Early Stage Fund II, to continue its support of early stage tech companies across Europe and Israel. The focus of the new fund will be on leading and co-leading Seed and Series A rounds.

Bank of Canada Sets up a Framework To Issue Digital Currency

Deputy Governor Tim Lane said that Canada’s state bank is setting up a framework for introducing a digital currency. Lane delivered his remarks in Montreal on Tuesday that as Canadians are satisfied with the contemporary payment system, the state bank has started looking at potential characteristics and requirements of digital currency.

Digital City Festival - A Landmark Celebration of Northern Innovation & Creativity

From the 9th to the 13th March 2020, Manchester will be hosting Digital City Festival, a celebration of the booming digital economy in the North and beyond, and an opportunity for globally focused organisations to connect, innovate and collaborate.

Klarna’s US and UK expansion take their toll, as fintech posts first annual loss

larna’s push for hyper-growth landed it in the red for the first time in its history according to the company’s 2019 annual report, published on Wednesday

Revolut's rocky road to a record raise

It’s been a tough 24 months for Revolut since its last funding round in 2018, here’s what happened. News that Revolut has landed a whopping $500m in additional funding will hardly surprise those who’ve followed the twists and turns of the digital banking group’s latest raise.

Unleashing the power of collaboration at Efma’s annual Bank + Fintech conference in Berlin

Senior level bankers and Fintechs from all over the world will come together from 21 – 23 April in Berlin for Efma’s Bank + Fintech conference. Successful partnerships between financial institutions and Fintechs will be on full display. Banks such as BNP Paribas, ING, Danske Bank, Société Générale, and BBVA will showcase how they have collaborated with Fintechs in order to meet the challenges of the new world of banking. Among the many Fintechs present will be Endor, Max, Mitto, Offr, and Personetics.

Venmo prototypes a debit card for youngsters

Allowance goes digital. Venmo has been noticed prototyping a brand new function that will enable grownup customers to create a debit card related to their account for his or her teenage youngsters.

Monzo launches new in-app credit checker

Monzo continues to disrupt the banking industry as it takes on credit giants with its new in-app credit checks for customers.

Spain’s Cobee raises €2.1M for its employee benefits app and payment card

Cobee, a Spanish fintech startup that has developed an employee benefit management app and accompanying card, has closed €2.1 million in “pre-Series A” funding.

Investors splash the cash on British fintech startups

Global investors poured money into the UK’s fintech sector last year, almost doubling the amount invested here between 2018 and 2019 — despite the rest of the world suffering a slight downturn in funding.

Intuit near deal to buy Credit Karma for $7B

Intuit Inc. is nearing a deal to buy personal-finance portal Credit Karma Inc. for about $7 billion in cash and stock, in a move that would push the bookkeeping-software giant further into consumer finance, according to people familiar with the matter.

Cashplus upgrades mobile app with Google maps spend tracking feature

Cashplus, the leading UK challenger to banks, has launched a UK-first payment tracking for its SME credit card products.

Reuters Events announces Executives from Goldman Sachs, Blackrock and UBS to join ESG Investment Summit in London

Reuters Events today announced the globally recognised funds that will share how they factoring ESG into their investment strategies at this year’s ESG Investments Europe Summit.