The Week in Review

The Week in Review

Friday September 7, 2018 –

Here are the new and noteworthy stories we have been following this week.

Funding Circle seeks £2 billion valuation for stockmarket debut

Funding Circle plans to float 25% of its shares in an IPO that would value the company at £2 billion.

https://www.finextra.com/newsarticle/32600/funding-circle-seeks-2-billion-valuation-for-stockmarket-debut

HSBC plans digital bank to counter online rivals

HSBC is building a stand-alone digital bank to focus on small business customers.

https://www.telegraph.co.uk/business/2018/09/02/hsbc-plans-digital-bank-counter-online-rivals/

Lending startup Portal Finance nabs $200 million for small business loans in Latin America

Portal Finance and BTG Pactual in $200 million small business lending JV.

https://techcrunch.com/2018/09/03/lending-startup-portal-finance-nabs-200-million-for-small-business-loans-in-latin-america/

JaJa Finance preps launch of mobile-controlled credit card

UK based JaJa Finance to launch purpose built mobile first credit card program.

https://www.finextra.com/newsarticle/32602/jaja-finance-preps-launch-of-mobile-controlled-credit-card

Varo Money wins preliminary approval for US national bank charter

Varo Money has been granted preliminary approval for a national bank charter by the OCC.

https://www.finextra.com/newsarticle/32609/varo-money-wins-preliminary-approval-for-us-national-bank-charter

Hong Kong blockchain start-up rolls out Asia’s first cryptocurrency Visa debit card to take on credit cards

Crypto.com, the HK based blockchain company will issue Visa debit cards starting with Singapore.

https://www.scmp.com/business/article/2162873/hong-kong-blockchain-start-rolls-out-asias-first-cryptocurrency-visa-debit

OakNorth nabs $100 million to accelerate tech supplier ambitions

UK challenger bank, OakNorth raises $100 million at a $2.3 billion valuation.

https://www.finextra.com/newsarticle/32617/oaknorth-nabs-100-million-to-accelerate-tech-supplier-ambitions

Fintech enters the dictionary

The word ‘fintech’ has finally made it to the Merriam-Webster dictionary.

https://www.finextra.com/newsarticle/32624/fintech-enters-the-dictionary

PayPal surpasses 250 million active accounts

PayPal recently surpassed 250 million active accounts on its platform.

https://www.finextra.com/pressarticle/75319/paypal-surpasses-250-million-active-accounts

Banks turn to espressos, dancing robots to help keep U.S. branches alive

US banks are using a variety of perks and features to drive branch traffic.

https://www.reuters.com/article/us-usa-banks-branches-focus/banks-turn-to-espressos-dancing-robots-to-help-keep-us-branches-alive-idUSKCN1LN0FK

The New Mortgage Kings: They’re Not Banks

Non-banks are back in the mortgage business with many originating more loans than banks.

https://www.wsj.com/articles/the-new-mortgage-kings-theyre-not-banks-1536242400