Tagged: europe

October 19, 2020 @ 8:02 am By Omar Faridi  |  

The COVID-19 crisis has led to major changes in how financial services professionals prefer to do their jobs in the future. Around 50% of workers in the financial sector say they would like to keep working from the comfort of their home for at least… Read More

October 18, 2020 @ 4:50 pm By Omar Faridi  |  

Marc Sebag, the Chief Risk Officer at October, a top European online lender, had answered important questions last year (in June 2019) about defaults and the continuous improvements that the platform makes to its scoring model. The October team acknowledges that the COVID-19 outbreak has… Read More

October 18, 2020 @ 3:35 pm By Omar Faridi  |  

An investor has reportedly been attempting to get her funds out of one of the UK’s largest peer to peer (P2P) lending platforms, RateSetter, since August 2020. According to a report from the Guardian, the investor (Michelle Johnson) was told by RateSetter’s management that her… Read More

October 15, 2020 @ 10:06 am By Omar Faridi  |  

French Paytech firm Lydia has teamed up with Tink in order to enable Open Banking connectivity. Lydia’s mobile payment app will be using Tink’s open banking tech to access PSD2 APIs across Europe. Tink and Lydia will be working cooperatively to improve bank account connectivity… Read More

October 15, 2020 @ 8:46 am By Omar Faridi  |  

The European Banking Authority, a regulatory body of the European Union that’s headquartered in Paris, has revealed plans to allow banks to include software-based assets in their capital requirement calculations. This should help lenders with strengthening their safety buffers, the agency noted. At present, banking… Read More

October 14, 2020 @ 7:38 am By Omar Faridi  |  

A recent Fintech study reveals that digital banking apps are now beginning to lag behind online trading apps (in Germany) which grew by 140%. Despite the COVID-19 outbreak, German consumers have not been using mobile banking apps as much as expected, according to a study… Read More

October 13, 2020 @ 7:49 am By Omar Faridi  |  

Polish-British Fintech Symmetrical.ai, which helps employees maintain financial well-being, has been issued a small payment institution license. The company said that the new permit should allow it to make Symmetrical-backed salaries “even faster, more flexible, and empowering.” Currently, there are 69 different small payment institutions… Read More

October 12, 2020 @ 3:04 pm By Samantha Hurst  |  

Temenos (SIX: TEMN), a banking software company, announced on Monday its Temenos Transact has been selected by FlowBank, a Swiss fintech startup, to power its new digital bank. Temenos reported that Temenos Transact core banking technology will enable FlowBank to launch and offer a new… Read More

October 12, 2020 @ 1:58 pm By Samantha Hurst  |  

  Joko, a fintech startup based in France, has reportedly raised €10 million through its latest investment round. The funding round comes just a little over a year after Joko raised €1.9 million through its first investment round. As previously reported, Joko states it is… Read More

October 10, 2020 @ 10:08 am By Omar Faridi  |  

Latvia-based peer to peer (P2P) lender Grupeer noted on October 7, 2020 that Recollecta has taken over its debt collection and management of the repayment process. This should help speed up repayments to the platform’s investors, the lender claims. The Grupeer team confirmed that they… Read More

October 10, 2020 @ 9:18 am By Omar Faridi  |  

Italy-based Enel will soon be the first of Europe’s major utilities providers to introduce a digital banking platform this month. According to Reuters, the virtual bank will let customers open a new current account by using the debit card they use to settle their energy… Read More

October 9, 2020 @ 3:26 pm By Omar Faridi  |  

A study recently performed by the European peer to peer (P2P) lending platform Robo.cash reveals that the main factors for its success during COVID were the profits it generated in 2019 and “work with affiliated loan originators.” Robo.cash claims that “remarkably, interest rates, funding volumes… Read More

October 9, 2020 @ 10:43 am By JD Alois  |  

Earlier this week, the European Union approved legislation that will harmonize securities crowdfunding rules for member states. Inclusive in the legislation is a 12-month funding cap of €5 million for issuers leveraging online capital formation. The goal is to facilitate capital formation for entrepreneurs and… Read More

October 9, 2020 @ 7:20 am By Omar Faridi  |  

October, a top European online lender, recently raised €258 million to lend to European SMEs. The additional financing was provided by institutional investors including Intesa Sanpaolo, CDC, FFA and six major insurance firms. The lending platforms management noted in a blog post that its lenders… Read More

October 8, 2020 @ 8:01 am By Omar Faridi  |  

SMART VALOR, a Switzerland based regulated digital asset exchange, will be running an Automated Price Reserve for the VALOR token on the Kyber Network, which provides a tool that allows traders to exchange tokens instantly without having to use exchanges. The VALOR token will be… Read More

October 7, 2020 @ 4:57 pm By Omar Faridi  |  

NAGA Group (XETRA: N4G), a Germany-based social trading-focused brokerage firm, reported its financial results on October 5, 2020, for Q3 2020. The NAGA Group claims that it generated record sales and trading volume. The company’s sales volume reportedly increased by 506% year-on-year to €7.1 million… Read More

October 5, 2020 @ 8:16 am By Samantha Hurst  |  

U.S.-based fintech Broadridge Financial Solutions announced on Monday it has formed a partnership with Germany-based payments consultancy and supplier PPI AG to launch a joint payments initiative for banks and financial institutions in Europe. Broadridge claimed that the new solution has already secured its first… Read More

October 3, 2020 @ 3:44 pm By Omar Faridi  |  

Eddie Lo, Product Manager at US-based crypto exchange Coinbase, notes that one of the “defining characteristics” of digital currencies is that they can be “transacted instantly, anywhere, anytime.” Although this might not be true given the relatively high Bitcoin and Ethereum transaction fees and relatively slow… Read More

October 2, 2020 @ 9:01 am By JD Alois  |  

Christine Lagarde, President of the European Central Bank (ECB), says the bank must be ready to issue a digital euro, according to a statement issued today. Meanwhile, a separate report from Bloomberg claims the ECB has already applied to trademark the name “digital euro” as… Read More

October 2, 2020 @ 5:24 am By Omar Faridi  |  

Distribution Finance Capital (DF Capital), a lender that provides various working capital solutions to UK based businesses, has reportedly been granted a full banking license from the Prudential Regulation Authority (PRA). The company is planning to launch a new digital bank, which will focus on… Read More