Fintech, Finance, Technology, Banking Highlights – 1 October 2018

Swisscom and CA Technologies Partner to Launch Innovative Open Banking Hub

CA Technologies announced that it is partnering with Swisscom in a strategic alliance to create an innovative Open Banking Hub.

Switzerland’s leading telecommunications company and one of the country’s leading IT companies is standardising on the CA Technologies API Management portfolio to create a simple, secure interface that connects financial institutions with third-parties, including fintech start-up companies. The Swisscom Open Banking Hub enables unprecedented opportunities for collaboration between banks and third-parties, inspiring the rapid, secure development of innovative new services and customer experiences that drive business growth.

“Traditional banks and new, nimble Fintechs are no longer working against each other, but rather in tandem to create exciting and compelling new financial solutions,” says André Durrer, Head of Digital Business Platforms at Swisscom. “The Swisscom Open Banking Hub provides banks, Fintechs and other third-party providers with a secure and agile platform upon which they can grow business. CA Technologies is the lynchpin of this modern and dynamic Hub, enabling secure API-based connection between providers and users of services. Their proven, flexible solution opens the door to digital data communication in existing and future financial ecosystems.”

Emirates NBD to launch Chat Banking via the WhatsApp Business Solution

Emirates NBD, announced that it will soon launch customised banking services via WhatsApp in the UAE.

The bank, a front-runner in digital banking innovation, is the first in the region to integrate its core systems with the WhatsApp Business solution, which will allow customers to seamlessly carry out their daily banking activities such as checking account balances and temporarily blocking or unblocking an existing card, enhancing its suite of digital channels. The initial phase of services are being piloted currently for the bank’s employees and will be rolled out to customers shortly following successful trials.

Abdulla Qassem, Group Chief Operating Officer, Emirates NBD said: “Following the launch of the initial phase, we look forward to progressively expanding our range of WhatsApp based services to deliver a unified, digital experience for our customers. In doing so, the new offering will complement our existing digital and social media channels in a secure and convenient way.”

Funding Circle raises £300 million, with a valuation of £1.5 billion in stock exchange debut

London Stock Exchange Group (LSEG) welcomes global small business loans platform Funding Circle to the Main Market.

Raising £300 million in primary proceeds, with a valuation of £1.5 billion, Funding Circle’s IPO underlines the UK’s leading position in supporting ambitious fintech companies to expand globally. Funding Circle has facilitated over £5 billion in loans to over 50,000 SMEs from 80,000 investors in the UK, US, Germany and the Netherlands.

Samir Desai, CEO, Funding Circle:
“We have always believed Funding Circle would be well-suited to the public markets and today’s listing is recognition of the strength and global impact of our model. We look forward to starting this exciting new chapter for the business as we focus on growth across all markets and seek to create a better financial world for small businesses and investors. I am pleased to welcome our new shareholders and I would like to thank my fellow Circlers for all their hard work since we launched. Funding Circle is a very ambitious company and we are excited to continue growing our business over the coming years. The UK is a great place to start and grow a fintech business and we are proud to have listed on London Stock Exchange today.”