Friday December 21, 2018 –
Here are the new and noteworthy stories we have been following this week.
Switzerland says Apple pledges to fix disruptions to rival payment app
Apple has agreed to make a technical fix to prevent the automatic launch of its Apple Pay from disrupting local Swiss payment app TWINT.
Saxo Bank to buy Dutch online lender BinckBank for $480 million
Saxo Bank is buying BinckBank to expand in the online trading and investment business.
Credit Cards Won’t Save Airlines From the Next Downturn
Co-branded credit cards have become a lucrative income stream for airlines.
https://www.wsj.com/articles/credit-cards-wont-save-airlines-from-the-next-downturn-11545053461
A month after raising $70M, Clearbanc raises $50M fund to front startups ad money
On the heels of a $70 million raise last month, Clearbanc has raised an additional $50 million.
https://techcrunch.com/2018/12/18/startup-loan/
JPMorgan tries to streamline spending in tech arms race
Chase stes up new digital division to better manage bank’s $10.8 billion technology budget.
https://amp.ft.com/content/52856c28-ffe0-11e8-ac00-57a2a826423e
Want a Better Credit Score? Soon, Your Cellphone Bill Could Help
Experian to start adding utility and phone bill payments data to credit reports.
Payments company Square to re-apply for a bank license
Square is refiling its application for a special industrial loan company (ILC) license.
https://www.reuters.com/article/us-square-banking-idUSKCN1OI283
Morgan Stanley moves to speed up collaboration with tech startups
Morgan Stanley is simplifying its procurement process for small companies in an effort to spur innovation and speed up collaboration.
https://www.reuters.com/article/us-morgan-stanley-fintech-idUSKBN1OI1QH
Federal Reserve Payments Study Supplement shows accelerated electronic payments growth
The latest Fed Payments Study shows that growth in card payments is accelerating while checks and ATM cash withdrawals decline.
https://www.federalreserve.gov/newsevents/pressreleases/other20181220a.htm
PayPal picks Temenos T24 core banking system
PayPal has selected Temenos T24 banking systems delivered in the cloud.
https://www.bankingtech.com/2018/12/paypal-picks-temenos-t24-core-banking/
