How much would you pay for your JP Morgan account? (TWIF 7/12)

Hello Fintech Friends,

You’re joining 117,000+ other subscribers with great fintech taste.

Based on the success of our monthly New York and London Fintech Coffees, we're excited to add the third city in our fintech coffee series! Starting in September, we'll kick off our Dubai Fintech Coffees. If you're building or investing in MENA fintech, please join us!

Big shout-out to Caelum on our team for hosting a sold-out London Fintech Coffee last week:

And to Ramon for organizing next week's São Paulo happy hour with our friends at Ensemblex:

 PS - Don't sleep on Boston!

Please enjoy another week of fintech and banking news below. (👍👎 Have feedback for us? Let us know!)

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Commonwealth Bank of Australia added travel booking and car buying services to its mobile app.

JP Morgan warned that it may charge for previously-free checking accounts if American regulators introduce caps to bank fees.

Card network Visa is collaborating with crypto provider Tangem on a payment card that will be integrated with the Swiss firm's self-custodial hardware wallet. Visa also partnered with global bank HSBC on the lauch of Zing, it's new cross-border payments mobile app to compete with Wise.

Banks in Singapore will phase out easily-phished one-time passwords in favour of digital tokens for bank account login.

NatWest will make its digital identity service for legally binding documents available to customers in the Nordics.

The Hong Kong Monetary Authority will be the first non-European bank to join the European Central Bank's digital euro exploratory project.

Worried about banking-as-a-service consent orders? You may want to look away from all the bank news below...

The Federal Reserve and the Comptroller of the Currency hit Citigroup with $136 million in fines for failing to fix longstanding internal control issues.

Fifth Third Bank was fined $20 million by the CFPB for forcing auto insurance onto customers who were already covered and opened fake accounts in customers’ names.

Danish bank Nordea will finally be charged by regulators for violating anti-money laundering laws from 2012 and 2015.

Following UBS’s acquisition of Credit Suisse, the Swiss consumer pricing supervisor has put the bank under observation amid competition concerns.

Pan-African banking payments provider Stitch* will now let customers digital wallet payments from all major providers (Apple Pay, Google Pay and Samsung Wallet) in South Africa.

Fraud data sharing consortium Sonar, initiated by Sardine, launched its new Red Flag service to help banks and fintechs quickly verify if their customers’ data has been compromised in a breach.

OpenPayd customers can now embed Pix into their platforms to enable real-time payments in Brazil.

Offa, a UK Islamic bridge finance provider, launched a new buy-to-let financing product that is Sharia-compliant.

Exponential.fi launched a new DeFi investing platform catering to non crypto-native investors.

Point-of-sale provider and payment processor Finix launched a new suite of no-code and low-code features, including Checkout Pages, Payment Links and Payout Links, Tokenization Forms, Virtual Terminals, and Merchant Onboarding Forms.

Alipay introduced a new Tap! function to expedite in-store mobile payments for users in China. 

Netchex launched a new 401k solution to make it easier for businesses to offer retirement accounts.

Investing tech provider Broadridge added a suite of values-based investing (think: ESG) tools into its platform.

Real-world asset startup Hamilton tokenized US Treasury Bills.

Germany's Giesecke+Devrient unveiled a token-based system for secure offline payments (below).

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Check out the latest collaboration between Happy Money and our friends at Method.

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Investing app Robinhood is reportedly considering offering crypto futures in the US and Europe.

Compliance-as-a-service provider Themis* expanded its compliance and risk program for embedded small business lender Pipe.

Beam is partnering with SMB neobank Mercury* to help startups manage funds, issue cards, automate payments, and more.

White label buy now, pay later provider Divido was declared insolvent.

Lithuania fined crypto provider Payeer a record €9.3 million for Russia-related sanction violations and money laundering failures.

Fintech partner bank Evolve Bank confirmed that hacking group Lockbit stole 7.6 million peoples' data, which has affected customers from many fintech clients including platforms like Yieldstreet. Meanwhile, in-spite of its prior collapse, former Synapse executives had access to its key systems until June 20th.