Swedish digital banking challenger Rocker is set to pilot the country’s first contactless fingerprint biometric debit card.The firm is working with augmented identification vendor Idemia to roll out the card early next year, enabling users to ditch their PINs for payments. Jonas Hultin, chief product officer, Rocker, says: “As
The year 2020 has been a year of digital transformation and acceleration to meet the challenges of the COVID-19 pandemic. By necessity and by design firms have implemented the roll-out of technology, often at speed, to enable business activities to continue as countries went into lockdown. The applications that
The rapid development of fintech in China has prompted regulatory authorities to consider the potential risks it poses on the overall financial system. Ant Group’s initial public offering (IPO), set to become the largest in history, was suspended by regulators last minute. According to the Shanghai Stock Exchange, ‘major issues regarding changes
Software testing is regularly subject to trade-offs – that is, attempting to cover as much of a codebase as is possible given time and resource constraints. Sometimes known bugs slip through to release and go unfixed because they are deemed low-risk. Within fintech, even small bugs can have serious
Ralph Hamers, CEO at UBS Group AG (SWX: UBSG), a Swiss multinational investment bank and financial services company based in Switzerland with around $1 trillion in assets, has noted that innovation and collaboration haven’t really been the norm for many traditional financial institutions. Hamers, whose comments came during the Singapore Fintech
Bet your last application programming interface (API) that the strong suits for FinTechs as the year heads to a close are innovation and user experience. On the other side of the table sit the traditional community banks and the smart bet there is on risk and regulatory compliance and
With 2020 in the rearview mirror, financial institutions of the world will be in a much more resilient position. The world has hit the online accelerator in 2020. Indeed, earlier this year Microsoft estimated that two years worth of digital transformation was compressed into just two months. Nowhere is this more
The startup ecosystem keeps frequently changing with multiple ecosystems spread across multiple regions, which foster new and upcoming startups. To understand such ecosystems better, Startup Genome’s Global Ecosystem report 2020 is now available. The current report takes a deeper look at Fintech space to better understand the ever-changing landscape.
Monument confirms £28 million fund raise
Monument, a digital banking startup for the well-heeled, has landed £28 million in new funding from existing backers and a trio of angel investors. Since inception, Monument has raised circa over £40m in funding, and it is now well placed to complete the build of its technological and operational capabilities and to be ready for launch in the Summer of 2021. The new investors in the firm are Eric Zinterhofer, of Searchlight Capital, entrepreneur Rakesh Loonkar and Harry Handelsman, founder and CEO of the Manhattan Loft Corporation. The startup, which is targeting people with between £250,000 and £5 million
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