Notable regulatory compliance and risk challenges remain high in a number of key areas for U.S. banks and credit unions. That’s according to results of Wolters Kluwer’s eagerly anticipated 2019 Regulatory & Risk Management Indicator survey.

Jim Wadsworth, Senior Vice President - Open Banking, Mastercard at MoneyLIVE Summit 2019 speaks about open banking and the results of the recent Mastercard's report around this topic

Tribe Payments, a team of industry experts dedicated to delivering the future of payments, today announced the launch of Bankbox. Bankbox is an API-led, agnostic module that provides issuers and acquirers access to banking systems and rails such as Faster Payments in the UK and Automated Clearing House in the U.S..

Industry guide, the Fintech Power 50 has launched the 2020 edition of its exclusive annual programme, shining a spotlight on those who are transforming financial services for the better.

Showcasing 40 trailblazing companies and 10 of the most trusted industry leaders across the Fintech ecosystem, the guide includes the likes of Jumio, Form3, Galileo, Funding Options, Currency Cloud, Modulr, Tide, and Oak North.  Following an extensive nomination and voting process, the nominated companies celebrate their inclusion at Fintech Connect on 3-4^th December this year.

Fastly, provider of a global edge cloud platform, today reports expanded adoption of its edge offerings and services across leading European media and entertainment brands. Fastly customers, such as Paradox Interactive, PRISA, RCS MediaGroup, and ZEIT ONLINE, employ Fastly’s high-density points of presence to power gaming, streaming or over-the-top (OTT) video, breaking news, and more as the need to support high volumes of simultaneous viewers, gamers, and readers with high-quality experiences increases.

In the past year, we’ve seen technology play a huge part in shaping the banking industry landscape, from emerging fintechs to new solutions facilitated by Open Banking to the latest AI tools. With such progression happening throughout the sector, we are sure to see more disruptive trends emerge in the new year. So, what can we expect?

Challengers vie to stand out

Drive Capital and National Bank of Canada have invested C$25 million in Canadian neo banking startup Koho.

UK digital bank Monzo has hired Visa's global head of payment products and platforms, TS Anil, to lead its push into the US.

SoFi has been granted a BitLicense by New York regulators, paving the way for online lender to offer cryptocurrency trading services in the state.

Zerion, the first simple interface to the protocols of decentralized finance (“DeFi”), has raised $2M in seed funding from Placeholder, Blockchain.com Ventures, and Gnosis. The team will use the investment to accelerate development and add support for more DeFi services. Zerion has processed over $47M in transaction volume over the last five months and won an award for the Best UX in the Ethereum ecosystem at Devcon in October 2019.