Friday September 7, 2018 –
Here are the new and noteworthy stories we have been following this week.
Funding Circle seeks £2 billion valuation for stockmarket debut
Funding Circle plans to float 25% of its shares in an IPO that would value the company at £2 billion.
HSBC plans digital bank to counter online rivals
HSBC is building a stand-alone digital bank to focus on small business customers.
https://www.telegraph.co.uk/business/2018/09/02/hsbc-plans-digital-bank-counter-online-rivals/
Lending startup Portal Finance nabs $200 million for small business loans in Latin America
Portal Finance and BTG Pactual in $200 million small business lending JV.
JaJa Finance preps launch of mobile-controlled credit card
UK based JaJa Finance to launch purpose built mobile first credit card program.
Varo Money wins preliminary approval for US national bank charter
Varo Money has been granted preliminary approval for a national bank charter by the OCC.
Hong Kong blockchain start-up rolls out Asia’s first cryptocurrency Visa debit card to take on credit cards
Crypto.com, the HK based blockchain company will issue Visa debit cards starting with Singapore.
OakNorth nabs $100 million to accelerate tech supplier ambitions
UK challenger bank, OakNorth raises $100 million at a $2.3 billion valuation.
Fintech enters the dictionary
The word ‘fintech’ has finally made it to the Merriam-Webster dictionary.
https://www.finextra.com/newsarticle/32624/fintech-enters-the-dictionary
PayPal surpasses 250 million active accounts
PayPal recently surpassed 250 million active accounts on its platform.
https://www.finextra.com/pressarticle/75319/paypal-surpasses-250-million-active-accounts
Banks turn to espressos, dancing robots to help keep U.S. branches alive
US banks are using a variety of perks and features to drive branch traffic.
The New Mortgage Kings: They’re Not Banks
Non-banks are back in the mortgage business with many originating more loans than banks.
https://www.wsj.com/articles/the-new-mortgage-kings-theyre-not-banks-1536242400
