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Top fintech stories this week – 18 August 2017

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Catch up on Banking Technology’s top five fintech stories of the week – all in one place!

Infographic: making security manageable through network segmentation

network-segmentation-infographic

This infographic, created by Tufin, looks at the current threat landscape and how network segmentation can help keep organisations secure from today’s sophisticated cyberattacks.

Behalf and FinWise Bank team to boost SME lending options

FinWise Bank and Behalf team up

Utah-based FinWise Bank, a subsidiary of All West Bancorp, has partnered with alternative small business lender Behalf.

SEFCU outsources core processing to Fiserv DNA

SEFCU swaps in-house legacy tech for Fiserv

SEFCU, a top-50 credit union in the US, is modernising its core processing software with Fiserv.

Shoeboxed launches Fetch to remove blood, sweat and tears from expense reporting

Shoeboxed

For anyone who spends hours completing their expense reports, the news that receipt and business card digitisation company Shoeboxed is ushering a travel and expense reporting system out of beta is welcome news.

Industry bullish on promise of fintech – Opimas research

Optimas Analysis 1

Market players are bullish on the near- and longer-term promise of fintech, according to new research by Opimas, “Fintech Spending and Innovation in Capital Markets”. In 2017, it estimates fintech spending across all capital markets participants to exceed $127 billion.

Paytm and Amazon in payments projects in India

Happy Independence Day, India!

Paytm, e-payment/e-commerce brand and payments bank, is bringing the QR code scanning habit to the Indian masses, while Amazon Pay has launched a digital wallet.

Digiliti Money delays earnings report, weighs sale or bankruptcy

Financial trouble in fintech paradise

Instead of reporting its second-quarter earnings, Digiliti Money plans to file for an extension with the US Securities and Exchange Commission (SEC) after its accounting firm flagged problems with its previous financial reports.

Where top US banks are investing in fintech – CB Insights

Click on the image to enlarge. Source: CB Insights

Since 2012, the top ten US banks (by assets under management) have participated in 72 rounds totaling $3.6 billion to 56 fintech companies, according to CB Insights. While investment activity dropped on a quarterly basis in Q1 2017, four of the last five quarters have seen over $1 billion invested into fintech start-ups in the US backed by venture capital firms.

Skye Bank revamps omnichannel banking with Oracle FSS

Nigeria

Nigeria-based Skye Bank has launched a new digital banking platform, SkyeXperience, built on the Oracle FSS tech. The bank plans to enrol over two million clients on the new solution by the end of next year.

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