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.

Volvo Cars has selected FICO® Decision Modeler to immediately onboard customers to its new Care by Volvo service. The move demonstrates the increasing adoption of advanced decision management technology in the auto finance industry.

Druva, Inc., the leader in Cloud Data Protection and Management, today announced extended data protection capabilities for Amazon Web Services (AWS) enterprise workloads, including innovative backup and data management for Amazon Simple Storage Service (Amazon S3), long-term archiving for Amazon Elastic Block Store (Amazon EBS) snapshots and new global policies for AWS accounts.

The Consumer Financial Protection Bureau (Bureau) issued today a Notice of Proposed Rulemaking (NPRM) relating to the Remittance Rule (Rule). The Rule generally requires companies that provide remittance transfers in the normal course of business disclose to consumers certain fees and the exchange rates that apply to transfers. The Rule also includes an exception that allows certain banks and credit unions to estimate certain fee and exchange rate information instead of disclosing exact amounts in certain circumstances, but this exception expires by statute in July 2020.