Financial Services

Thought Machine further burnishes reputation: The UK company, which offers cloud-based core banking, struck a dual investment/client deal with yet another big incumbent, Italy’s Intesa Sanpaolo.

Insider Intelligence spoke with Piermont Bank founder and XEO Wendy Cai-Lee about why Piermont’s size is more of an asset than a liability, why she thinks banking as a service is now in roughly its third generation, and what lessons banks can learn from working alongside fintechs.

Plum pulls out trading offerings: By adding trading features, including US stocks and crypto, the UK-based company can deepen engagement with its personal financial management (PFM) customer base.

The firm’s processed volume surged 72% YoY thanks to growing ecommerce, a rise in business outside of its home market, and loyal customers.

Spain mulls preserving in-person banking help: The government hinted it would act after a retired doctor’s petition drive garnered over 610,000 signatures. Officials can look domestically and to the UK for ideas.

An International Monetary Fund (IMF) report exploring six central bank digital currency (CBDC) case studies shows there’s no “one size fits all” that works in every market.

M&T is the latest domino to fall in the anti-overdraft movement: The US regional bank is dropping fees for non-sufficient funds (NSF) and transfers while slashing overdraft charges. It’s a little late and still a little short compared with competitors.

The continent’s fintechs attracted about $3.3 billion in funding last year as investors recognized the region’s huge growth potential.

In a Which? Survey, the UK neobank tied for the second-highest customer score—much-needed good news that it can capitalize on with consumers and investors.

Tech-savvy small banks bucked conventional lending wisdom with PPP: FDIC researchers found that smaller US banks which invested more in technology fared well with the Paycheck Protection Program (PPP) at the pandemic’s onset.