WEALTHTECH

Personal finance and lending platform MoneyLion has raised $22.5m in its Series A round. The funding was led by Edison Partners. Read more: www.fintechroundup.com

Russia's Sberbank has introduced an online personal assistant that uses machine learning to provide customers with useful advice. Read more: www.finextra.com

Robo-advice has gained some traction in the US and Australia, but research shows that when it comes to investments, consumers still value human interaction. Read more: www.fintechroundup.com

Oval Money, the first personal savings app powered by collective intelligence, harnessing both machine learning and the wisdom of the crowd, launches in the UK. Read more: thefintechtimes.com

Wealth services marketplace WEALTH has picked up $705,000 in a seed funding round. Vulpes Investment Company and Privé Holdings led the investment. Read more: www.fintechroundup.com

Banking major Santander has doubled the size of its fintech venture capital fund Santander InnoVentures with a $100m injection of fresh capital.

Digital wealth management platform Vanare has raised $20m in a Series A round. The financing comes in the form of a strategic investment by WisdomTree Investments. Read more: www.fintechroundup.com

A greater share of U.S. adults who break up with their banks are taking their accounts to online-only banks and nonbank institutions, according to a new report. Read More: www.wsj.com

A wave of new digital tools will complement, not replace, finacial advisors, according to senior Credit Suisse exec Marco Abele. Read more: www.finextra.com

London banking startup Mondo has announced that it is changing its name to Monzo after a trademark dispute forced it to rebrand. Read more: uk.businessinsider.com