UK wealthtech start-up Sidekick debuts new wealth management app
FinTech Futures
by Cameron Emanuel-Burns
2h ago
London-headquartered wealthtech Sidekick has announced the full launch of its new digital private wealth management app. Sidekick co-founders Peter Townsend and Matthew Ford (Image: Sidekick) Two years after it was incorporated and five months after landing authorisation with the FCA, Sidekick has announced, via LinkedIn, that its app-based investment service aimed at “solving the inequality of wealth creation” has gone fully live and is now available to the public. The start-up, co-founded by Matthew Ford and Peter Townsend – who serve as CEO and CTO respectively – began onboarding inaugura ..read more
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The history of banking technology vs the history of banking experience
FinTech Futures
by FinTech Futures
7h ago
The history of banking is inextricably linked to the evolution of technology. And that has proved to be a fast-paced evolution, following Moore’s law to a tee. The transactional aspects of banking have been solved, but not the emotional ones Back in 1957, 1TB of storage capacity would have cost $9.2 billion, while 1TB of memory would have cost $411 trillion. Today, the same storage and memory capacity costs just $14 and $2,100, respectively. Banking has evolved in lockstep. We have gone from lofty hollowed branches to banking on mobiles in 70 years. Managing day-to-day banking has moved from ..read more
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Green Dot receives proposed consent order from US Federal Reserve
FinTech Futures
by Tyler Pathe
16h ago
US-based digital bank and fintech Green Dot has received a proposed consent order from the US Federal Reserve, which the firm says relates “principally to various aspects of compliance risk management, including consumer compliance and compliance with anti-money laundering regulations”. Green Dot hit with proposed consent order by the Federal Reserve In its recently published Q4 and full year financial results for 2023, Green Dot states that the matters addressed in the proposed consent order “relate to activities and practices that commenced prior to the company’s Chief Executive Officer tr ..read more
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Webull set for Nasdaq public listing via $7.3bn SPAC merger
FinTech Futures
by Tyler Pathe
18h ago
Digital investment platform Webull is set to go public in the US via a merger with special purpose acquisition company (SPAC) SK Growth Opportunities in a deal valuing the combined company at $7.3 billion. Webull to list on Nasdaq via SPAC merger The combination of SK Growth Opportunities and the New York-headquartered stock trading app is expected to complete in H2 2024, subject to regulatory and shareholder approvals. Webull says the combined company “will retain its name as ‘Webull Corporation’ and its ordinary shares are expected to be listed on Nasdaq under a new ticker symbol”. For Web ..read more
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Northern Trust taps Finbourne Technology for data management solutions
FinTech Futures
by Cameron Emanuel-Burns
20h ago
Chicago-headquartered wealth management firm Northern Trust has partnered with UK-based data solutions vendor Finbourne Technology to modernise its valuation and reporting capabilities. Finbourne’s LUCID and Luminesce selected by Northern Trust Northern Trust will utilise Finbourne’s financial data management offering LUSID along with its data virtualisation platform Luminesce, which the vendor says combined will enable “valuations and other key data to be presented in near real-time” to Northern Trust’s clients to help them with their investment decision making. Finbourne’s LUSID solution i ..read more
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FinovateEurope 2024: Digital transformation, shifting customer expectations and Africa’s fintech growth
FinTech Futures
by Cameron Emanuel-Burns
20h ago
Influential figures from across the fintech industry assembled at the Intercontinental O2, London, for the final day of FinovateEurope 2024 on Wednesday. Panellists discuss AI and digital transformation at FinovateEurope 2024 The conference came to a close with a day packed full of keynote addresses and enlightening panels, tackling several common themes such as trust in AI and the need for digital transformation and adaptability in the face of shifting consumer expectations. Can we trust AI? Digital transformation and the utilisation of generative AI were repeated topics over the day. One k ..read more
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State of play: banking
FinTech Futures
by FinTech Futures
22h ago
Each month, Philip Benton, Principal Fintech Analyst at Omdia, explores a new topic and assesses the “state of play”, providing an analysis and understanding of the market landscape. It’s a tough time to be a bank This month, Philip takes an in-depth look at banking. I had the pleasure of attending FinovateEurope in London this week and participated in the ‘Analyst All Stars’ session, where I presented my seven-minute vision for “how banks can succeed in the brave new world of super-apps, marketplaces, ecosystems and platforms”. Seven minutes wasn’t long enough to go into much deta ..read more
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Citi names former JP Morgan exec Viswas Raghavan as new head of banking
FinTech Futures
by Tyler Pathe
22h ago
Citi has hired former JP Morgan exec Viswas Raghavan as its new head of banking and executive vice chair, effective “this summer”. Viswas Raghavan to lead banking for Citi Raghavan is due to take charge of the group’s investment, corporate and commercial banking unit, which is described as “one of our five core businesses” in a note to colleagues delivered by Citi CEO Jane Fraser this week. Additionally, as executive vice chair, Fraser says Raghavan will “help shape and drive our firm-wide strategy” within his newfound position on the board of Citi Foundation and the wider executive manageme ..read more
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Cross River Bank Group launches new investment banking unit
FinTech Futures
by Tyler Pathe
1d ago
US-based Cross River Bank (CRB) Group has announced a new venture into investment banking along with the appointment of two new senior hires to co-lead the unit. Cross River Bank heads into investment banking The group – which is headquartered in Kansas City and includes CRB Securities and embedded finance solutions vendor Cross River Bank – says the new division will work to advise fintechs on “their most critical decisions, including mergers and acquisitions, capital markets transactions and other corporate finance matters”. The investment banking unit will operate as part of CRB Securitie ..read more
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Finnish fintech Basware names new CIO and head of AI
FinTech Futures
by Paul Hindle
2d ago
Finnish fintech Basware has appointed Barrett Schiwitz as its new chief information officer (CIO) and Anssi Ruokonen as director of AI research and enablement to help manage the company’s internal digital transformation and drive its AI product and service strategy. Basware appoints new CIO and head of AI Backed by more than 30 years’ experience, Schiwitz joins Basware from tech firm Snap One, where he served as SVP of integration and business transformation. The company says he will oversee its internal digital transformation projects as it aims to “completely revamp” its systems and data ..read more
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