Digital-only banks aren’t just for rate chasers: ING CEO
ING has made splashy investments in its digital bank, announcing it will spend about $850m over the next five years to accelerate customer growth. Read more: www.americanbanker.com.com
WealthNavi picks up $15m for robo-asset management
Tokyo-based asset management service WealthNavi has raised $15m in a Series B round of funding. The investment comes from SBI Holdings and other backers. Read more: www.fintechroundup.com
Atom Bank announces £83m from BBVA with more on the way
The round takes Atom’s total funding to £219m and values the Durham-based company at £261m and gives BBVA a 29.5% stake in the business. Read more: www.fintechroundup.com
FinTech startup to launch mass market robo-adviser
UK FinTech startup Munnypot has soft launched a robo-advice service designed to cater for the mass market at a fraction of the cost of traditional advice. Read more: www.professionaladviser.com
Airtel pilots India’s first Payments Bank
Telecoms giant Bharti Airtel has launched the first of India's new wave of 'payments banks', going live with a pilot across the state of Rajasthan. Read more: www.finextra.com
When banking frustration closes a door, an app opens a window
According to Chris Britt, CEO of mobile-first banking platform Chime, consumers are getting frustrated with traditional financial institutions. And this frustration has created an opening for digital banking newcomers. Read more: www.pymnts.com
Wealth managers are too complacent with FinTech
Most understand the threat to profit margins but few use fintech to their advantage. Read more: financialadvisoriq.com
CompareEuropeGroup takes €20m for comparison platform
London-based financial service comparison platform CompareEuropeGroup has raised €20m in its Series A round. Read more: www.fintechroundup.com
Yomoni takes $5.4m for French robo-advisor
French robo-advisor company Yomoni has picked up $5.4m in a new round of funding from existing backer Crédit Mutuel Arkéa and Iéna Venture. Read more: www.fintechroundup.com
Freetrade pockets £1.1m on Crowdcube for stocks app
Stockbroking app Freetrade has smashed through its latest crowdfunding target to secure £1.1m in just 12 days. Read more: www.fintechroundup.com