Top fintech stories this week – 16 December 2016

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

AnaCap to acquire Barclays’ French retail banking & wealth management ops, complete IT overhaul planned

AnaCap has big plans for France

AnaCap Financial Partners, a UK-based private equity firm, is set to acquire Barclays’ French retail banking business, life insurance business, wealth and investment management and brokerage operations.

Alipay partners with major European banks and payment provider

Chinese tourists

Alipay, one of the world’s largest online and mobile payment platforms, has inked deals with BNP Paribas, Barclays, UniCredit, and SIX Payment Services to drive the European expansion.

Sofgen assists Bank of Singapore with integration of Barclays’ wealth business


Bank of Singapore has completed the acquisition of the wealth and investment management business of Barclays in Hong Kong and Singapore. The combined entity has more than $75 billion of assets under management (AUM) and nearly 400 specialist bankers.

RBS fails Bank of England stress test

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Royal Bank of Scotland (RBS) has failed a Bank of England (BoE) stress test on how it would cope with another financial crisis. Two other banks – Barclays and Standard Chartered – also failed on some measures but do not have to submit revised capital raising plans. The tests were put in place by BoE […]

Barclays launches online investing service


Barclays has unveiled a new online direct investing service to let its customers view their investments, savings and current accounts in one place through a single log-in. The bank says it has introduced a new fee structure, which is “free from hidden charges”. There is one fee and one transaction charge – and common charges […]

Barclays UK launches first contactless cash service


Barclays is launching the UK’s “first” contactless mobile cash service. Customers can withdraw up to £100 in-branch, with a tap of their Android smartphone or contactless debit card. Ashok Vaswani, CEO of Barclays UK, says its customers “now expect to be able to use their smartphone to make their everyday purchases” and “we want taking […]

Ex-Barclays CEO back with new firm and digital banking platform


Antony Jenkins, former CEO of Barclays, is back with a new company called 10x Future Technologies and launched a new core digital banking platform. As Banking Technology reported in June, Jenkins, who was sacked by Barclays in summer 2015 for failing to transform the bank quickly enough, set up 10X Future Technologies. At that time, […]

Does the bank branch still matter?

Is it a bank? Is it a coffee-shop?

The number of branches operated by major banking groups in the UK has halved over the last 20 years. In fact, Britain’s banks closed more than 600 branches across the UK between April 2015 and April 2016. This is hardly surprising as more and more people move online, often mobile-first, to complete most of their […]

Six start-ups speed up on Barclays NY accelerator programme


Six start-ups have signed contracts with Barclays after using its New York accelerator programme to showcase their innovations. After thirteen weeks of product development, mentoring and networking, the demo day in New York marked the culmination of the second class of the Barclays Accelerator. In total. ten teams were selected from a pool of nearly […]