417. News: SoFi snaps up Galileo for $1.2b

Our expert hosts, David Brear and Simon Taylor, are joined by some great guests to talk about the most notable fintech, financial services and banking news from the past week. This week's guests include:

• Tanya Andreasyan, Managing Director and Editor-in-Chief at Fintech Futures
• Izabella Kaminska, FT Alphaville Editor at the Financial Times
• Olly Betts, Co-Founder and CEO, OpenWrks

We cover the following stories from the fintech and financial services space:

• SoFi buys Galileo for $1.2bn (03:17)
• Kabbage suspends credit for small-business clients (11:21)
• Banks struggle to keep up with tidal wave of business loan applications for covid relief (19:29)
• New Banking Competition Remedies pool announced as Nationwide abandons business banking (27:40)
• Fintechs take action to combat effects of coronavirus (34:54)
• FCA allows selfies for identity checks (58:20)

This podcast is brought to you by Mitek. Smart, automated and fast. Mitek helps you reduce fraud, create trust, and offer your customers the experience they value. Hundreds of AI-based analytics and face comparison algorithms work together to verify a user is truly the owner of their ID document in order to enable secure customer acquisition, fast money movement and prevent account takeover fraud. Document verification and facial biometrics work hand-in-hand to verify identities of users to provide them with a secure and convenient onboarding process.

Love fintech? Then sign up for our newsletter, Fintech in Five. A snack-sized selection of the week's biggest stories, longer reads, soundbites and more. Just visit this link to sign up! 11fs.com/newsletter

Fintech Insider by 11:FS is a podcast dedicated to all things fintech, banking, technology and financial services. Hosted by a rotation of 11:FS experts including David Brear, Simon Taylor, Jason Bates, Leda Glyptis and Sarah Kocianski and joined by a range of brilliant guests, we cover the latest global news, bring you interviews from industry experts or take a deep dive into subject matters such as APIs, AI or digital banking.

If you enjoyed this episode, don't forget to subscribe and please leave a review

Follow us on Twitter: www.twitter.com/fintechinsiders where you can ask the hosts questions, alternatively email [email protected]!

Special Guests: Izabella Kaminska, Olly Betts, and Tanya Andreasyan.

Links:

• SoFi buys Galileo for $1.2bn
• Kabbage suspends credit for small-business clients
• Banks struggle to keep up with tidal wave of business loan applications for covid relief -
• New Banking Competition Remedies pool announced as Nationwide abandons business banking
• Fintechs take action to combat effects of coronavirus
• FCA allows selfies for identity checks