Goldman Sachs closes Marcus to new UK users amid deposit surge
Goldman Sachs has closed its UK digital arm Marcus to new UK customers as it approaches regulated deposit limits during the country’s coronavirus lockdown, Reuters reports. The easy access savings service closed its competitive 1.05% account to new customers on Wednesday, following a surge in deposits which to £21 billion from 500,000 savers since it launched in … Continue reading Goldman Sachs closes Marcus to new UK users amid deposit surge Continue Reading
Bank99, a new banking entity set up by Austrian Post, has signed a six-year contract with Diebold Nixdorf for ATM management and optimisation. Diebold Nixdorf signs a contract worth $20m Bank99, founded in 2019 as a joint venture between Austrian Post and insurance giant GRAWE Group, operates in 413 locations via distribution partners on the … 
ING has spun out Cobase, the multibanking start-up it bought a majority stake in back in 2018, as it lands a €10 million Series A from Nordea and Crédit Agricole CIB. The fintech offers a multibank platform for banks’ businesses customers to access all their bank accounts in one place, The two banks are now … 
Tinkoff Bank, one of Russia’s first neobanks, has launched a micro-investing service where small savings on everyday purchases will be automatically invested into a portfolio. Owned by TCS, Tinkoff claims to serve more than 10 million customers and makes up the bulk of TCS’s business with a 13.2% of Russia’s credit card market. The portfolio … 
British Business Bank (BBB), the state-owned bank responsible for accrediting lenders to issue coronavirus business loans, has appointed an interim CEO. Catherine Lewis La Torre is set to start on 1 September and will work alongside Keith Morgan – who has led the bank since December 2013 – during the Autumn to finalise the transition, … 
Real-time payments and fraud The latest edition of our flagship magazine – Banking Technology – is out now, packed with news, analysis and insights, case studies, research and expert commentary. A note from our editor, Sharon Kimathi: In this issue of the Banking Technology magazine, we’ll be focusing on cybersecurity and fraud in open banking and real-time … 
Whether you envisage self-driving vehicles to be five or 25 years away, given the substantial investments and technological progress being made, it is hard to argue against the industry’s narrative of inevitability. Not to be outdone in this digital age, insurance claims is forging its own digital transformation path, leveraging advancements in technology and analytics … 
India-based Federal Bank has selected ACI Worldwide and its UP Payments Risk Management solution. $12.4m was lost to fraud in India during Q4 2019 Starting off as a private bank founded in 1931 named Travancore Federal Bank, it has since become one of India’s largest private sector banks, with assets of around $22 billion. Federal … 
Two credit unions in the US have gone live on core processing software supplied by Corelation. The two go-lives were separated by six time zones Pennsylvania-based Cross Valley Federal Credit Union ($167 million assets; 19,200 members), and Hawaii-based HFS Federal Credit Union ($596 million assets; 50,900 members) switched across to Corelation’s KeyStone earlier this week. … 
pirkx, a London-based start-up which offers sole traders and contract workers employee benefit packages, has landed just shy of £1 million in a seed funding round. Led by Vala Capital and venture capital fund SyndicateRoom, the £960,000 round will be used by the 2018-founded fintech to expand into new territories. With Australia already underway, South …