There has been a merger trend in banking the last few years...
News Roundup
This page contains an archive of the Global Newsletter summaries and the weekly fintech news roundups.
Every day the Fintech Nexus news team scours the globe for the most important stories of the day to include in our daily newsletter.
Then every Saturday we bring you our weekly news roundup of the top 10 fintech stories of the week with commentary from Peter Renton.
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Sheltered Harbor began earlier this year and covers around 400 million accounts across banks and credit unions; members of the project are required to back up data so other banks can serve customers in the event that another bank becomes disabled; the project goes beyond concerns over customer data being stolen to address concerns that a cyberattack could destroy or lock data. Source
Writing in Forbes, Founder and CEO of the Financial Health Network, Jennifer...
Walmart partnered with Even and PayActiv to provide a set of products for their more than 1.4 million employees; employees will be able to access earned weaves ahead of schedule using an Instapay feature; “We’re investing to give our people financial tools that help provide more stability in their lives, which we believe will empower them to be all they can be when they are at work serving our customers,” explained Jacqui Canney, Walmart’s Chief People Officer; Walmart is covering the cost of Even’s tool and it will allow for employees to access Instapay eight times a year for free. Source.
Christopher Woolard, the FCA’s executive director of strategy and competition, said he would like to see a collaboration of global regulators to encourage fintech growth; this would be in the style of a global sandbox and would be quite the undertaking but as Mr. Wollard stated, they are up for it; this would allow companies to better understand the regulatory limits and help to stop global issues like money laundering. Source.
The marketing initiative coincides with the firm's recent rebranding announcement and is part of the company's "Made to Do More" campaign; it is spending GBP12 million ($15.51 million) across media and specialist channels with a focus on business borrower and capital investor awareness; the firm has been a market leader in investment deals in 2017 recently announcing a partnership with Aegon and reporting a $100 million fundraising in January. Source
Tearsheet reports on a recent survey, the 2019 FIS Performance Against Customer...
Despite the fact a recent study suggests only 22% of those in...
Global wealth managers have been increasingly partnering with fintech companies to provide their customers with new digital wealth management solutions; the Morgan Stanley Addepar partnership is one of the market's most recent deals involving new digital wealth management services; the chart below provides insight on some of the leading factors involved in digital wealth management strategies for global wealth managers; the ability to increase access and collaboration potential with clients and experts is one of the market's top factors. Source
The $1.3 billion round was led by private equity firm Primavera Capital...