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No More Bitcoin for Nordea Bank Employees, Experts Question the motive
An act of paternalism or a case of generic Bitcoin (BTC) distrust? It is hard to make out the exact reasons for Nordea Bank’s ban on its 31,500 employees trading in Bitcoin or other cryptocurrencies — even on their own time — a prohibition that was upheld on Dec. 2 by a Danish court.MORE >>>
Praveen Kumar, co-CEO, global services centre in India, Barclays, says: “As a technology hub for the bank, co-locating our teams will help drive greater collaboration and adoption of agile ways of working for our colleagues, thus enabling us to deliver faster and more innovative solutions for the Bank, and our customers and clients.”
Penta the German business banking challenger, parters with SumUp to target offline businesses
Up until recently, Penta had been targeting digital businesses, such as startups and e-commerce SMEs, but has since re-positioned itself for wider business banking appeal.
By partnering with a POS provider offering easy card reader-enabled payments, the German challenger bank wants to extend that offline (such as restaurants, craftsman, healthcare and architects). Businesses can order a SumUp Card Reader via Penta, and in doing so will save money on the initial SumUp setup fee and be able to seamlessly integrate SumUp-powered payments.
Challenger banks are nothing new, but they’re still mostly targeted towards adults. If you want to create an N26 or Revolut account, you need to be at least 18 years old. You can create a Lydia account if you’re at least 14 years old with parental consent.MORE >>>
Events on Our Radar
Open Fintech Forum
DEC 9 , 2019
How smart onboarding solutions are reducing abandonment rates for banks
Individual onboarding for each product is not only expensive but also severely hampered by a lack of data sharing. It’s been estimated that KYC checks cost banks on average $60m annually, with 25% of applications carried out in the UK abandoned due to KYC friction.MORE >>>
Chime closes $500m funding round – CNBC
Chime has raised $500 million in a Series E round that values the American digital bank at $5.8 billion, according to CNBC.DST Global led the round in a deal that sees Chime’s valuation nearly quadruple in less than a year.MORE >>>
As a spokesperson for Nordea Bank told Cointelegraph after the Copenhagen labor court’s decision:
“The market for crypto-currencies is unregulated and not transparent. It makes it hard to monitor where the money comes from. It increases the risk that investors, including our employees, may unwillingly get involved in activities that are unethical or outright illegal.”
TechBook Efficiently Connects Tech Startups with Corporates for Partnerships
Techcode, a global incubator and accelerator network with facilities and offices in 22 cities of 7 countries, launched an online B2B platform named TechBook in October to help startups find clients effectively. After 2 months of service, it has attracted over 15,000 startups and 300+ industry leaders to join the platform.MORE >>>