Welcome to the FinTech Times, a weekly newsletter covering the biggest FinTech news from around the globe. If you want to read F|T before anyone else, make sure to subscribe using the form at the bottom of this page.
Akira founder moves from healthtech to launch Newton cryptocurrency trading platform (BETAKIT)
The app links directly to a user’s bank account where they can trade Ethereum, Bitcoin, and Litecoin.
Liberis raises £57.5M to offer finance for small businesses paid back via customer card transactions (TECHCRUNCH)
The majority of the new capital being raised by Liberis is debt to enable the company to issue more loans.
PayPal is going after the big banks (CBC)
New ways to bank could do away with the ‘antiquated’ trip to the branch.
Symphony to expand into new industries with $67 million funding round(FINEXTRA)
Symphony, a financial communication platform, plans to use the funding to expand into new market segments including insurance, legal, healthcare services, and government.
Bunz launches rewards program, calls it a cryptocurrency(BETAKIT)
Toronto-based Bunz launched BTZ, which it calls a cryptocurrency. The announcement has been met with scrutiny.
BoA launches digital mortgage experience to offer mortgage guidance (PYMNTS)
Bank of America has rolled out a digital mortgage service, enabling customers to apply for mortgages online or via the bank’s mobile app, often getting conditional approval on the same day.
ATB Financial teams up with the University of Alberta to further research AI
(BETAKIT)
ATB Financial is investing $940,000 over the next four years to partner with the University of Alberta.
Bitpay raises $40 million in Series B round (COINDESK)
Bitpay, which processes bitcoin and bitcoin cash payments for merchants, raised the funding from Menlo Ventures and Aquilline Technology Growth.
Some companies are turning their noses up at Softbank’s huge cash offers(CNBC)
SoftBank’s massive Vision Fund said in 2017 that its minimum cheque size is $100 million. But in the financial technology market, the number appears to be twice as big.
Investing app Stash partners with Green Dot to expand into banking (TECHCRUNCH)
Through its partnership with Green Dot, Stash is rolling out a set of mobile-first banking services including bank accounts with debit cards, no overdraft fees, access to a network of free ATMs across the US, as well as financial guidance on spending, saving, investing, and planning for retirement.
Report: Canadians skeptical about cloud security when it comes to medical, financial information (BETAKIT)
59 percent of Canadians are wary of storing financial information in the cloud.
M-Pesa and PayPal are partnering to boost e-commerce in Kenya(QZ)
The move will open global marketplaces to Kenyan entrepreneurs and businesses, effectively allowing M-Pesa’s 22.7 million subscribers to transact online, on mobile, in an app, or in person with PayPal’s 227 million users.
