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Banq statement - Issue #2

This is the second edition of our weekly digest with the latest news and trends in banking and fintec
Banq statement - Issue #2
By Gertjan De Wilde • Issue #2 • View online
This is the second edition of our weekly digest with the latest news and trends in banking and fintech.

In short
  • Open Banking - Yolt moves into B2B, Lunar Way raises €13m, and BNP Paribas Fortis launches account aggregator
  • Challenger banks - Starling raises £75m, Tandem credit card racks £100m in transactions and Meridian introduces Motusbank
  • Funding - Nav $45m, Rapyd $40m, Mojo £7m, Chainalysis $30m, and SendFriend $1.7m
  • Crypto - JPMorgan Chase Moves to Be First Big U.S. Bank With Its Own Cryptocurrency
  • M&A - Ellie Mae $3.7b, WorldFirst $700m, Solium Capital $900m, and Shoplo undisclosed
  • Interesting reads - Why the Pay Later API Standard Could be a Turning Point in Banks’ Digital Strategies, API strategy crucial for banks looking to meet GDPR rules, and Swift to open KYC Registry to corporates

Quote of the week by David Andrzejek from Apigee
Virtually every industry is increasingly dominated by software platforms and the ecosystems that surround them. 

Open Banking
Yolt opens up to businesses
Nordic banking app Lunar Way raises €13M
Belgium’s BNP Paribas Fortis unleashes bank account aggregator – FinTech Futures
Challenger banks
Starling Bank, now with 460K consumer accounts, raises £75M more for European expansion – TechCrunch
Tandem credit card racks up £100 million in transactions in first year
Canadian challenger Motusbank moves in – FinTech Futures
UK trade finance challenger bank Diaspora preps for flight – FinTech Futures
TymeBank times South African launch for this month – FinTech Futures
Funding
Goldman Sachs leads $45m funding round for business credit startup Nav
Rapyd nabs $40M led by Stripe and GC for ‘fintech as a service,’ a single API for payments, money transfer and more – TechCrunch
Crypto compliance provider Chainalysis collects $30m funding – FinTech Futures
Online mortgage broker Mojo raises £7m
Barclays, Ripple and Mastercard Foundation join SendFriend financing round
UK retains top three spot for fintech investment
Rabobank puts EUR80m into tech venture fund
M&A
Ellie Mae goes under the hammer for $3.7 billion
Alibaba’s Ant Financial buys UK currency exchange giant WorldFirst reportedly for around $700M – TechCrunch
Morgan Stanley agrees to pay $900m for employee stock plan manager
SumUp acquires ‘multi-channel’ e-commerce platform Shoplo – TechCrunch
Crypto
JPMorgan Chase Moves to Be First Big U.S. Bank With Its Own Cryptocurrency - The New York Times
Partnerships
China’s Alipay digital wallet is entering 7,000 Walgreens stores – TechCrunch
Big banks bond with CommonBond for $750m lending spree – FinTech Futures
Santander strikes $700m IBM deal to support biz transformation programme
Barclaycard partners with SAP to simplify corporate payments
Canadian banks back new market data hub
Interesting reads
Why the Pay Later API Standard Could be a Turning Point in Banks’ Digital Strategies
API strategy crucial for banks looking to meet GDPR rules – IBS Intelligence
Swift to open KYC Registry to corporates
If you enjoy our weekly digest then please share it - either by forwarding to your contacts or sharing this link on social media https://www.getrevue.co/profile/banq
Have a great weekend!
-The Banq team
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Gertjan De Wilde

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