The Penser Fintech News Roundup – April 01-15

April 2019 | News


Each fortnight, we round up the most significant fintech news from some of our favourite sources.


  1. Monzo digital bank could double value to £2bn with new US stake

Monzo, the challenger bank which has garnered 1.2 million users since it launched in 2015, is reportedly close to clinching £100m from an American investor. This new investment could make Monzo the second-most valuable fintech startup in the UK.

  1. Coinbase Launches Crypto Visa Debit Card for UK and EU Customers

Coinbase, the cryptocurrency exchange, has launched a Visa debit card in the UK. The card will “instantly” convert cryptocurrency to fiat currency. PaySafe is the issuer of the cards.

  1. Physical ATM attacks show explosive growth

ATM related physical attacks rose 27% in 2018 from 2017. This has caused losses of EUR 36 million, a 16% increase on 2017.

  1. N26 is the latest fintech unicorn to face regulatory scrutiny

Fintech darling N26 is reportedly being examined by German regulators following complaints about fraudulent transactions and deficiencies in customer communications. This follows similar difficulties that other fintech players Revolut and Wirecard have face recently.

  1. RBS and Barclays trial blockchain tech to slash property transaction times

The trial was conducted by Instant Property Network, the real-estate transaction outfit, successfully reduced the time taken to complete a transaction from three months to less than three weeks using R3’s distributed ledger software.

  1. PixelPin replaces password to log in with new £1.5m funding

PixelPin has closed a £1.5m pre-Series A funding round. The UK start-up uses image-based authentication to replace traditional passwords. As a result, users can select a picture and four specific points on that picture that must be selected in sequence to log in to their online accounts instead of a password or PIN.

  1. Deutsche Bank and Serrala launch API interface for SEPA payments

The first API solution for real-time payments (in line with SEPA) has just been launched as a join initiative between Deutsche Bank and Serrala. The launch is described as an important step towards real-time treasury, offering the ability to make processes and workflows faster and more efficient.

  1. Three-way merger creates enlarged Bank of Baroda

The branch network of Bank of Baroda now stretches to 9,500 outlets by incorporating the 2,050 branches of Vijaya Bank and 1,850 branches of Dena Bank. The combined entity will go under the Bank of Baroda brand. All three banks use Infosys’s Finacle platform, and will take some time to meld together.

  1. BBVA links loan interest rate to borrower’s digital maturity

BBVA has launched its new D-Loan, whose price is linked not only to the borrower’s credit profile but also their digital maturity. Borrowers and lenders agree on digital score targets throughout the life of the financing and if these are met, the loan pricing is reduced.

  1. Small business challenger bank Novo raises $4.8 million

US-based digital-only bank Novo has raised $4.8 million in a funding round led by Crosslink Capital.