UK based Tandem Bank has acquired financial management app Pariti; the app has more than 95,000 users that will now be transferred to Tandem Bank; Pariti users will still be able to access their accounts through the Tandem app. Source.
The WCF is an annual event that targets diversity within the financial sector through personalised engagement activities.
Klarna has doubled its customer base in the United States to over 21 million customers.
Bud, a UK-based provider of open banking solutions, has announced the completion of its Series B funding round, in which it raised $80 million.
The Financial Conduct Authority (FCA) has requested that P2P lenders not lend to each other through industry network lending; the request comes as the regulator continues to increase its oversight and understanding of the industry; in the FCA's report it says that the industry network lending could be in violation of rules that require deposits for such transactions. Source
The long awaited new rules for P2P lending in the UK are now here; the Financial Conduct Authority (FCA) announced...
Ping An pushes into Indonesia’s fintech space In strategic shift, TIAA to close dozens of mortgage offices Orca launches industry-wide...
Tandem is a banking app to help individuals manage their finances; according to the Financial Times, the acquisition will provide GBP80 million ($103.8 million) of capital as well as a banking license; Tandem lost their banking license earlier this year after a failed investment by a Chinese conglomerate; the firm was concerned about whether China's State Administration of Foreign Exchange would approve the transaction; the acquisition still has to go through regulatory approval but if approved will allow Tandem to offer savings accounts. Source
Funding Circle’s SME Income Fund has closed a funding deal with Citibank; according to the AltFi, “Under the terms of the agreement Citibank London will provide £50m of funding into the transaction, by entering into a senior, floating rate loan. The fund will contribute a portfolio of existing UK small business loans at par, and in return shall receive ?the approximately £50m of cash to be deployed in accordance with its investment policy, and junior notes.” Source
In this episode we talk with Abby Levy, the Co-founder and General Partner of Primetime Partners, as she discusses senior fintech and why founders should be focused on this massive untapped market...