Fortune promotes Hinchliffe, Lambert, Dunn

Fortune editor in chief Clifton Leaf sent out the following announcement on Thursday: Dear colleagues, It is my great pleasure to announce three well-deserved promotions at Fortune. As of today, Emma Hinchliffe, Lance Lambert, and Katherine...

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Quartz hires Asia reporter, Things reporter

Financial news site Quartz has hired two new reporters — one to cover Asia and another for its Things team. Leslie Nguyen-Okwu is joining the Asia team as a reporter based in Taipei. Nguyen-Okwu...

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“Life after Journalism” webinar scheduled for next week

Chicago-based marketing and communications agency M. Harris & Co., the Chicago chapter of the National Association of Black Journalists, and the Chicago Headline Club are hosting a webinar next Wednesday titled “Life after Journalism.”...

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Sombank picks Temenos Islamic banking systems

Somalia-based Sombank has selected a cloud-based deployment of the Temenos Islamic banking solution.

Founded in 2019, Sombank is a new bank in its home country

The bank plans to implement the full front-to-back Temenos platform, which combines Temenos Infinity and Temenos Transact.

Temenos claims its “scalable innovative technology” provides “superior features” for Islamic banks to offer their customers Shariah products.

Founded in April 2019, Sombank is a sister company of Tawakal Express, a Somalian international money transfer service.

Garad Khalif. Nor, CEO of Sombank, says his firm selected Temenos because of its “worldwide reputation” and “regional expertise in Africa”.

He adds: “While we are a relatively new bank, Sombank has big ambitions to play a significant role in rebuilding the country’s financial infrastructure”.

Nor says using the Temenos system allows the bank to “achieve rapid time to value”.

One of Sombank’s founding aims is to improve financial inclusion in Somalia, … Read the rest

Holvi becomes next UK casualty, exits just six months after launch

Holvi, the Finnish digital banking service for businesses owned by Banco Bilbao Vizcaya Argentaria (BBVA), has pulled out of the UK, Sifted reports.

The Finnish start-up has reasoned its departure is down to both COVID-19 and Brexit

Less than six months after its launch in the market, Holvi has followed in the footsteps of other fintech start-ups which have abandoned their UK expansion plans.

In February, German neobank N26 pulled out of the UK citing Brexit after struggling to drive customer numbers since 2018. Then in July, US trading app Robinhood scrapped its UK launch after putting off activating its trade licence which it secured back in August 2019.

Why is Holvi following suit?

The Finnish start-up has reasoned its departure is down to both COVID-19 and Brexit.

“Uncertainty is increasing to a point where we have to make an adult decision,” says Holvi’s CEO, Antti-Jussi Suominen. “In January we … Read the rest