PSD2 and Open banking news roundup


Starling Bank close to a million customers after £30m investment boost

Starling Bank is set to notch up a million customers within “weeks” after it raised £30 million in new funds to drive European expansion. It will also help us accelerate our global expansion, starting in Europe, so that even more people can benefit from the Starling app Starling did not reveal the valuation against which the funds were raised. Its Dublin office employs three people, and it will open sites in other European countries when it expands into them. Earlier this month, the bank launched a major new advertising push with posters and a short TV advert.

Swiss Fintech Delegation Seek More Robust Collaboration in Singapore @ Singapore Festival

Present at the Swiss Pavilion amid a 70-member delegation with participation from 25 Swiss fintech enterprises, she said: “Fintechs are the future and they will bring the future to the Swiss banking system. You (fintechs) are the torch bearers” for the financial system and the government and regulators will provide support. For example, she highlighted that Switzerland already has a good legal framework for blockchain and it is currently adopting it. For innovative and growing tech companies, Switzerland can be the ideal location to centre their European business.

Singapore looks to plug data gap in fintech investments

Singapore is looking to plug data gaps so investors can more easily access information they need to identify fintech startups they can potentially work with. Pointing to Deloitte's own analysis, the partners said in a joint statement Tuesday that investors currently have to depend on informal networks to identify potential opportunities as they lack access to reliable and updated corporate information for fintech startups. With the proposed research platform, they aim to provide details of fintech startups including their business models, use cases, funding, and technology deployments.

Mastercard launches Fintech Express programme for startups in Asia Pacific

Payments technology company Mastercard has announced the launch of its Fintech Express programme in Asia Pacific. The Fintech Express programme on-boards partners and provides immediate access to a cross-functional team of experts to support multiple work streams across product, partnerships, licensing, and legal. The company will, through this partnership, help in issuing cards for Rapyd’s corporate clients in Asia Pacific. Speaking to YourStory, Rama said Mastercard was also actively looking at India for its Fintech Express programme.

China Digital Currency ‘Not Seeking Full Data Control’ — Central Bank

China is not launching a war on cash by introducing its own digital currency, a senior official from the central bank has said. That is a balance we have to keep, and that is our goal.” In July, it announced a crackdown on merchants refusing to accept paper fiat. In India, where the government is conversely attempting to limit cash usage since 2016, spectators have voiced alarm at a scheme to tie replacement digital transactions to consumers’ real identities.