UK app-only bank Monzo has had preliminary discussions with regulators about the possibility of expanding its business to the US consumer market.
Chetwood Financial, a new UK challenger outfit founded by the former deputy head of HSBC's UK retail bank Andy Mielczarek and tech vendor veteran Mark Jenkinson, has secured its banking licence and a significant investment of £150m in debt and equity from Elliott Advisors to help it grow.
A fintech working group set up by the Reserve Bank of India has called for the establishment of a regulatory sandbox and innovation hub where startups can roadtest their products ahead of commercial launch.
Australia has moved one step closer to implementing an Open Banking regime with the publication of a final Government report into the issue, accompanied by draft legislation to mandate comprehensive credit reporting.
Lithuania's ambition to become a fintech-friendly destination for startups across Europe is bearing fruit, with the country welcoming 35 new firms in 2017.
Venture capital investment in UK fintech firms more than doubled in 2017 to reach $1.8 billion, with 54% of the total coming from overseas VCs who appear largely untroubled by the UK's imminent break from the European Union.
Bank regulators in seven US states have agreed to standardise parts of the licensing process for money service businesses (MSBs) in a bid to make it easier for fintech startups to operate across the country.
Berlin based Penta, a challenger bank for startups and small businesses, has raised a €2.2 million seed round one month after launching in Germany.
The Spanish stock exchange BME has acquired a 9.7% stake in local social trading community Finect as part of a tech-led diversification strategy.
The UK government is calling on local fintech firms to join a trade mission to New York Fintech Week in April.
© Finextra Research 2018