Insight: How fintech is facilitating the future world of work

A new report finds a third of businesses are crying out for freelancers – but can’t pay them on time. Sonovate’s Richard Prime explains which fintech trends are helping businesses to accommodate the rising freelance demographic.

Canadian SMEs need convincing about Open Banking

Delegates at Open Banking Expo Canada heard from speakers at the last panel of the Confex that small businesses are sceptical about data sharing and will need the fintech community to ‘communicate the benefits’.

Allica Bank secures £110m in Series B funding round

Atalaya Capital Management led the investment, with Warwick Capital Partners, Allica Bank’s majority shareholder.

Landsbankinn teams up with Salt Edge to comply with PSD2

The Icelandic bank has chosen Salt Edge’s PSD2 compliance solution and has opened a sandbox, hosted by Salt Edge, for fintechs.

Weavr teams up with Germany’s finway

The fintechs have partnered to be able to issue physical and virtual cards for SMEs.

Tide opens platform to non-account holder SMEs

The Open Access move aims to introduce competition to the market, using Open Banking to make its range of finance and admin products on the Tide platform available to businesses, without them having to open a Tide business account.

Allica Bank buys SME lending portfolio from AIB

The deal will see the challenger bank acquire around 2,000 SME borrowers from AIB Group, which is exiting the UK SME market, and brings forward its target profitability date to mid-2022.

Mastercard to introduce Bill Pay to Latin America with Arcus purchase

The company has bought Arcus FI, an alum of Mastercard’s ‘Start Path’ programme, to bring real-time payment applications to Latin America.

Bill Morneau proposes ‘industry-led’ approach to Open Banking in Canada

The former finance minister of the Government of Canada delivered the opening keynote on the first day of Open Banking Expo Canada, in which he told banks and fintechs there is ‘room for everyone to do better’.

Visa invests in Australian API platform Basiq

Cietan Kitney, head of strategy, Asia Pacific at Visa will join the board following the strategic investment.