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Fintech layoffs round-up: 18 August 2017

FSB: fintech brings risks and benefits

A distinctly cheerless round-up as we highlight some key moments regarding fintech layoffs. Features Simple and Royal Bank of Scotland (RBS). US-based digital banking service Simple has fired 33 staff members (about 10% of its workforce), including several executives, according to The Oregonian. Simple’s CMO, chief people officer, VP of operations, and VP of engineering […]

LendingRobot joins NSR Invest to form biggest roboadvisor in marketplace lending

LendingRobot 1

P2P lending roboadvisor LendingRobot will join NSR Invest, creating what it calls “the largest independent roboadvisor in the alternative lending space”, reports Finovate (Banking Technology‘s sister company). LendingRobot explains in its blog that the “websites, operating, and trading systems” of each platform will continue to function as usual for the time being as the companies prepare […]

Infosys CEO quits after personal attacks

Infosys

Infosys’ MD and CEO has resigned, citing a continuous stream of distractions and disruptions, and personal and negative attacks on his performance. In his notice of resignation, Dr Vishal Sikka, complained of “false, baseless, malicious and increasingly personal attacks” from the company’s founders. Sikka’s exit pushed Infosys shares down around 8% – and follows a […]

HSBC teams with Capita for new broker platform

HSBC-Logo

HSBC is introducing a new improved software platform for brokers and also confirms Personal Touch Financial Services as its next intermediary partner. The new software, provided by Capita, replaces the current system and provides a single platform which “drives greater automation, making it easier for brokers to transact, upload documents, and track details of mortgage […]

Hong Kong regulator grins thanks to financial inclusion wins

Hong Kong

The Hong Kong Monetary Authority (HKMA) is in a happy mood as the region’s financial inclusion initiatives are progressing well. Norman Chan, HKMA chief executive, visited three retail bank branches in northern Tin Shui Wai area of Hong Kong today (17 August) to understand the situation of branch services from bank representatives and staff, and […]

CIBC goes it alone with new Simplii Financial banking brand

Fully digital mortgage now a reality in Canada

Canada’s banking group CIBC has unveiled Simplii Financial, its new direct banking brand, signalling the end of its President’s Choice (PC) Financial consumer banking business with retailer Loblaw. Mike Boluch, EVP, direct banking, innovation and payments, CIBC, says Simplii will deliver “straightforward, no-fee everyday banking” and offer services by telephone, online, or through mobile and […]

Mobile banking service Lunar Way fearless for feeless travel

Lunarway 1

Denmark-based mobile banking service Lunar Way has launched its travel card – and the chance to experience the world without fees. Its newest feature, called the Lunar Way Travel Card, is its attempt to stand out in a world of roaming charges. Lunar Way says: “One area where the consumer has always been stung is […]

eMerchantPay gets e-money licence, joins PIF

eMerchantPay 1

Payments service provider eMerchantPay has received authorisation from the UK’s Financial Conduct Authority as an e-money institution (EMI), which means it can issue products including payouts, e-wallets and prepaid cards – and it has joined the Prepaid International Forum (PIF), reports Banking Technology‘s sister publication Paybefore. “The EMI licence allows for the opportunity to develop new payments capabilities […]

Jemstep the right roboadvisor step for KeyBank

KeyBank

When roboadvisor firm Jemstep was acquired by investment management company Invesco a year and a half ago, Invesco CEO Martin Flanagan highlighted the importance of combining technology and human insight to produce better investment outcomes for customers. Now Jemstep has partnered with KeyBank’s Key Investment Services (KIS), to provide another opportunity for Invesco’s roboadvisor to […]

Credit Union Australia pivots with Pivotus Ventures’ digital banking

Australia flag

Credit Union Australia (CUA) has joined a group of banking providers, becoming the exclusive Australia and New Zealand partner of Pivotus Ventures. The deal – which also includes the UK’s Nationwide Building Society, US bank Umpqua and the Netherlands’ De Volksbank – will let CUA develop new digital banking opportunities. The ideas are being developed […]

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