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'The correspondent banking model governing bank-to-bank relationships is being eviscerated under the
 
May 15 · Issue #34 · View online
Brainfood
‘The correspondent banking model governing bank-to-bank relationships is being eviscerated under the increasing weight of compliance challenges, experiencing a 25% drop in global connections over the past eight years,’ - Accuity.

Brainfood - 15.05.17
Financial Services
BNP Paribas to become startup bank for Parisian version of Silicon Valley
RBS CEO sees potential to settle major U.S. mortgage probe
Alipay is entering the US through First Data partnership
SoFi plans to apply for a bank charter in the next month
MasterCard aims to speed up your chip-and-PIN payments
Correspondent banking wilts under weight of compliance red-tape
Rabobank enters digital identity market
Card networks bring standardised QR codes to Thailand
BNP Paribas Fortis adheres to PSD2now with The Glue
City banks could move at least 9,000 jobs from UK due to Brexit
FinTech
Cobalt attracts new launch partners to post-trade currency network
Budget boosts Australia’s FinTech
P2P payments become social norm
N26 moves into savings market with Raisin API
How FinTech Can Modernize SME Supply Chains
Zopa Finally Receives Full FCA Authorisation for Peer to Peer Lending
Metro Bank CEO: Investing £55 million in tech as bank passes 1 million customers
Monzo puts API development on the back burner
FinTech Trends in Emerging Markets
EBAday 2017: Towards full payments digitalisation
TrueEX files anti-trust lawsuit against MarkitServ
Deal News
Deutsche Bank backs pan-industry online identity platform
SoftBank confirms it’s putting $5BN into Didi Chuxing, the ‘Uber of China’
Apple acquires AI company Lattice Data, a specialist in unstructured ‘dark data’, for $200M
Cinnober acquires defunct market surveillance firm Ancoa
KPMG acquires FinTech matchmaking firm Matchi
SoftBank takes $1.4b hit from Snapdeal, Ola bets
Citi invests in DLT startup Axoni
Funding
Core banking veterans raise $12m for new cloud-based venture
Kreditech secures EUR110 million investment from PayU
Gainsight Moves Closer To Becoming Customer Success' First Unicorn With $52M From Lightspeed, Cisco
SoftBank Said Near Closing Technology Fund With $95 Billion
Robo-advisor Wealthsimple raises C$50m
Regulation
ICE brings precise timing to UK data centre for MiFID II compliance
Key Hires
Who's in Charge After Goldman's Investment Bank Management Shakeup
HSBC chairman Douglas Flint and former EU commissioner Lord Hill join Margaret Thatcher's think tank
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