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Varo Achieves Milestone As First Consumer FinTech To Get National Charter

PYMNTS

Colin Walsh got lots of laughs five years ago when he talked of his intention to launch a financial technology (FinTech) startup. the San Francisco-based online bank, had the last laugh. Varo is the first consumer FinTech to receive a new national bank charter from the U.S. Varo Bank N.A.

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Silicon Valley is eating the crumbs the banks’ left after lunch

Chris Skinner

Tom Braithwaite is the companies editor, managing the FT’s business coverage. Based in London, he was previously a Lex columnist in San Francisco. … The post Silicon Valley is eating the crumbs the banks’ left after lunch appeared first on Chris Skinner's blog.

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Innovative Ecosystem Draws FinTech Firms To Toronto

PYMNTS

Toronto is a powerhouse for financial innovation in Canada: The city has the most sizable ecosystem for FinTech in the country, with 185 startups per one count. NorthOne , a FinTech firm that focuses on small business owners, is one of the companies that call the city home. Funding rounds and exits have followed suit.”

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In UK, FinTech Alliance Launches

PYMNTS

Movement to foster collaboration between FinTech firms and traditional financial firms continues to gather steam across the globe, aided by government encouragement and initiatives. FinTech Alliance debuted this week, with a roster that tops 500 members. digital bank, has set up shop in the U.S. In an example of U.K.

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Transactions: Finastra, Veem partner for SMB digital payments

BankInovation

London-based core provider Finastra is partnering with payment service fintech Veem to provide payment services to small and medium-sized businesses (SMBs).

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Digital Payment Company Nexi Agrees To Buy SIA For $5.4B

PYMNTS

Nexi , the Italian digital payment company, agreed Sunday (Oct. 4) to buy its FinTech competitor, SIA , for about 4.6 This is not the first mega deal involving FinTech companies. billion) to acquire Ingenico Group , the Paris-based technology provider of secure electronic transactions to create a FinTech dynamo.

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Plaid Woos Banks With New Instant Account Update Feature

PYMNTS

Plaid is doubling down on its push to connect banks to FinTechs and their customers with a new, instant account update feature. With that offering, banks and other financial institutions (FIs) can build out their own APIs, making it far easier to connect with FinTech app developers and firms and their growing legion of users.