F|T: The FinTech Times – Digital banking’s paradigm shift

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Coinsquare CEO and president agree to step down, pay “penalties” in settlement with OSC (BETAKIT)

Coinsquare co-founders Cole Diamond and Virgile Rostand have agreed to step down from the crypto-trading startup following a settlement with the OSC.


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Plum raises $10M for its ‘smart’ money management app (TECHCRUNCH)

Plum, the London and Athens-based FinTech that offers a “smart” money management app to help you improve your “financial resilience,” has raised a further $10 million in funding as it gears up for European expansion.


Shopify partners with lending startup Affirm so customers can pay in installments (THE GLOBE AND MAIL)

Lending startup Affirm said on Wednesday it will partner with Shopify Inc in the United States to let the Canadian e-commerce company’s shoppers pay in installments.


How the COVID-19 pandemic could lead to a permanent shift in digital banking (PYMNTS)

Six out of 10 customers don’t plan to return to bank branches after the COVID-19 pandemic recedes, instead favoring digital banking.


Why the world’s most valuable unicorn is shunning a U.S. IPO (FORTUNE)

Ant, a financial technology firm that runs China’s dominant digital payment platform, was last valued in 2018 at $150 billion; stock analysts estimate a current value of $200 billion, making it arguably the world’s most valuable unicorn.


Royal Bank of Canada, Borealis AI partner with Red Hat, NVIDIA on new AI computing platform (BETAKIT)

RBC has developed its own cloud-based artificial intelligence computing platform upon which to create and maintain AI-powered banking applications.


AI FinTech startup Quantexa closes $64.7M round (SILICON ANGLE)

Quantexa Ltd., a London-based startup that uses artificial intelligence to help financial institutions detect fraud and find sales opportunities, has raised a $64.7 million funding round led by Evolution Equity Partners.


FinTech acquisitions show sector strength despite COVID-19 (FORBES)

While the crisis may be causing a down round in terms of new funding in the space, it doesn’t seem to be slowing down mergers and acquisitions.


FinTech startup Mylo rebrands to Moka, launches in France as part of European expansion (BETAKIT)

Montreal-based personal finance FinTech startup Mylo has rebranded to Moka and has revealed it is expanding to Europe with an initial launch in France.


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