Friday November 9, 2018 –
Here are the new and noteworthy stories we have been following this week.
Credit Karma buys UK credit scoring platform from TransUnion in first expansion beyond North America
Credit Karma buys Noddle and expands to the UK.
https://www.cnbc.com/2018/11/05/credit-karma-buys-transunion-owned-noddle-to-expand-into-the-uk.html
Visa Collaborates with Billtrust to Help Launch Business Payments Network and Redefine Digital B2B Payments
Visa and Billtrust announced that they are collaborating on Billtrust’s Business Payments Network which is designed to streamline the delivery of electronic B2B payments to suppliers.
Marcus by Goldman Sachs is opening a new account every 35 seconds
Marcus, has signed up 100,000 customers since its launch in the UK just forty days ago.
U.S. digital banking startup Cogni closes $1.7 million seed funding
Cogni Inc, a digital banking start-up that will provide banking and other services closed on a $1.7 million seed round.
NatWest launches app-only business bank
NatWest has launched a standalone digital bank for SMEs, dubbed Mettle.
https://www.finextra.com/newsarticle/32891/natwest-launches-app-only-business-bank
Lloyds to up digital game with Thought Machine
Lloyds has partnered with and invested in Thought Machine to accelerate the digital transformation of the bank’s business.
https://www.bankingtech.com/2018/11/lloyds-to-up-digital-game-with-thought-machine/
Consumer Credit Growth Slowed in September
Consumer credit increased at a seasonally adjusted annual rate of 3.3% in September to $3.95 trillion.
https://bankingjournal.aba.com/2018/11/consumer-credit-growth-slowed-in-september/
Nets to embed ‘pay later’ option in merchant terminals
Nets is collaborating with Finnish fintech Mash to provide an omni-channel ‘pay later’ option to shoppers across Scandinavia.
China gives American Express first shot at its huge payments market
American Express has received approval to build its own payments network in China.
https://www.cnn.com/2018/11/09/business/american-express-china/index.html
Fed to Further Overhaul Stress-Testing Regime, Making it Easier for Banks to Pass
Fed aims to make test scenarios more consistent from year to year with the objective of ensuring a high pass rate.
