Dear Subscriber,

This afternoon, guest writer Lee Britton looks at the possibilities for partnerships between fintech start-ups and banks, to the benefit of both.

And Benjamin Rabinovich covers the news that Citibank Hong Kong has introduced Apple’s Touch ID, allowing customers to log in to the iOS banking app with their fingerprints. Meanwhile, as many as 20,000 Tesco Bank customers may have lost money in a recent hacking attack.

Enjoy!

In this guest post, Lee Britton, commercial director of Prepaid Financial Services, contrasts the fortunes of fintech startups that choose to scale with the backing of major banks with those that opt to go it alone.

Citibank has introduced Apple’s authentication software, Touch ID, in Hong Kong, allowing for features such as transactions, investments and enquiry to be conducted across iPhone models 5S or later.

As many as 20,000 customers are reported to have lost money from their Tesco Bank accounts after a hacking attack. As a result, the bank has stopped all online payments for current account customers.

Pockit, a startup that focuses on helping the four million ‘financially excluded’ people in the UK, has hit 100,000 users since it began trading in 2014.