Key Points:
Objective:
Ensure “reasonable access” to cash deposit and withdrawal services for personal and small business current accounts.
Implementation Date:
New guidelines t… Read More
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Latest fintech news, pay tech, regtech, blockchain news
Key Points:
Market Exit:
Shares is set to exit the UK market after two years of operations.
The decision was made to focus on the French and EU markets.
Closure Timeline:
UK account holders… Read More
Key Points:
Acquisition Agreement:
UniCredit has signed a binding agreement to acquire Aion Bank and Vodeno for approximately €370 million.
Strategic Benefits:
The acquisition introduc… Read More
Summary of Diamond Trust Bank (DTB) and Network International Partnership
Entities: Diamond Trust Bank (DTB, Kenya) and Network International (digital payments company serving MEA region… Read More
Key Points:
Partnership Announcement:
Rabobank has partnered with Zafin, a Software-as-a-Service (SaaS) solutions provider, to upgrade its pricing, billing, and invoicing capabilities.
Obje… Read More
Key Points:
New CEO Appointment:
Stefan Bollinger appointed as CEO, starting “no later than 1 February 2025”.
Bollinger is currently an executive at Goldman Sachs.
Interim CEO:… Read More
Key Points:
New Investment:
Plum secured a fresh investment totaling £16.1 million.
Investment includes a £13.4 million Series B funding round and £2.7 million from a Crowd… Read More
Key Points:
Lifted Restrictions:
The FCA has lifted the temporary partner onboarding restrictions imposed on Modulr last October.
Original Order:
Modulr was ordered to stop onboarding new a… Read More
Key Points:
Objective:
Foster “healthy lifelong financial habits” among customers.
Service Offering:
Bank of Clarke customers can now register for a complimentary Greenlight sub… Read More
Key Points:
Funding Sources:
International Finance Corporation (IFC): $40 million
Other Investors: Development Partners International (DPI), Lorax Capital Partners, funds manag… Read More
Key Points:
Company Background:
Headquarters: London and San Francisco
Founded: 2008
Services: Localized payment solutions, direct carrier billing, A2A/real-time payments, digital wallet ser… Read More
Key Points:
Proposed Rule:
Payday loan advances would be brought under the same scope as consumer loans.
Fees associated with accessing earned wages early must include appropriate consumer d… Read More
Key Points:
Investment Details:
Total Investment: $65 million
Led by: JP Morgan Payments
Participants: Y Combinator, Jack Altman (Alt Capital), Max Altman (Saga Ventures)
Financial Brea… Read More
Key Points:
Investment Details:
Total Raised in Series B: $40 million
Lead Investor: ICONIQ Growth
New Board Member: Yoonkee Sull (General Partner at ICONIQ Growth)
Participants:
Previous S… Read More
Key Points:
Reason for Fine:
Unfair and Deceptive Practices: Violations in marketing, selling, and servicing of prepaid debit card products.
Deficient Consumer Compliance Risk Management Pro… Read More
Black Hills Federal Credit Union (BHFCU) Partners with NCR Atleos for ATM Management
Objective:
Transform self-service banking for over 110,000 members in South Dakota
Simplify operation… Read More
Meridien Holdings Acquires Stake In FX Liquidity Firm DKK Partners To Bolster Plans For NYSE Listing
Meridien Acquires 27% Stake in DKK Partners
Acquisition Details:
Acquirer: US-based holding company Meridien
Stake Acquired: 27% of DKK Partners
Transaction: In exchange for a… Read More
Andrew Smith to Depart RTGS.global
Position: Co-founder and Chief Technology Officer (CTO)
Company: RTGS.global, a London-based cross-border settlement fintech
Founded: 2019
Departure Announ… Read More
ICYMI Funding Round-Up: Latest Fintech Funding News
Dopay
Amount Raised: $13.5 million Series A extension.
Lead Investor: Argentem Creek Partners.
Purpose: Expansion in Egypt, new financial… Read More
Summary of Cash App’s Exit from the UK Market
Company: Cash App, a division of Block (formerly known as Square), led by Jack Dorsey.
Decision: Cash App will exit the UK market, with se… Read More
Summary of Alliant Credit Union’s New CIO Appointment
Company: Alliant Credit Union.
New CIO: Jamie Warder.
Position Start Date: 8 July.
Responsibilities: Overseeing member vision, bus… Read More
Summary of Merrco Payments’ Rebranding to KORT Payments
Company: Merrco Payments, a Canadian fintech.
New Brand Name: KORT Payments.
Headquarters: Toronto, Canada.
Background:
Foun… Read More
Summary of Aven’s Series D Funding and Expansion Plans
Company: Aven, a credit solutions start-up based in San Francisco, US.
Series D Funding: $142 million.
Led by: Khosla Ventures an… Read More
Summary of Matera’s $100 Million Investment from Warburg Pincus
Investment Details:
Total Amount: $100 million.
Investor: Warburg Pincus, a New York-based private equity firm.
Stake: M… Read More
Summary of Blue Owl Capital’s Acquisition of Atalaya Capital Management
Acquiring Company:
Name: Blue Owl Capital.
Location: New York.
Assets Under Management (AUM): $174 billion.
Acq… Read More
Summary of April’s Appointment of Raj Doshi as COO
Company Details:
Name: April.
Location: New York.
Founded: 2021.
Specialization: AI-powered tax-filing solutions embedded with financ… Read More
Summary of First Global Bank’s Partnership with Profile Software
Partnership Details:
Entities Involved: First Global Bank (FGB) and Profile Software.
Objective: Implementation of Prof… Read More
Summary of Bux Holding’s Sale of Bux Financial Services Limited (BFS)
Entities Involved:
Seller: Bux Holding (Netherlands-based).
Buyer: Asseta Holding (Parent company of APM Capital… Read More
Summary of Jordan Kuwait Bank’s Launch of eliWallet
Entities Involved:
Jordan Kuwait Bank (JKB)
Mastercard
FOO (UAE-based fintech)
Product Launched:
eliWallet: A prepaid digital walle… Read More
Summary of Auxilo Finserve’s $33 Million Funding Round
Funding Details:
Total Raised: $33 million.
Major Contributor: LeapFrog Investments provided $30 million in guaranteed capital.
O… Read More
Summary of Inter’s Leadership Changes and Strategy
Leadership Appointment:
New CEO: Alexandre Riccio appointed as CEO for Brazil.
Focus Shift: Current group head Joao Vitor Menin will… Read More
Summary of Sequoia Capital’s Offer to Legacy Fund LPs for Stripe Shares
Offer Details:
Opportunity for LPs: Sequoia Capital offers limited partners (LPs) of some legacy funds the chanc… Read More
Summary of Anne Boden’s Departure from Starling Bank and New AI Venture
Person: Anne Boden, founder of Starling Bank.
Departure Details:
Stepped down from Starling Bank’s board… Read More
Summary of OCN Securing $86 Million Series A Funding
Company: OCN (formerly OneCarNow), a Mexican fintech start-up.
Funding Details:
Total amount: $86 million.
Components: Mix of equity and… Read More
Summary of FCA Overhauling the UK’s Listing Rules
Objective: To support a wider range of companies issuing shares on a UK exchange and increase investment opportunities.
Key Changes:
I… Read More
Partnership Overview:
BNP Paribas partners with Ant International to enhance cross-border payment solutions in Europe.
Formalized through a Memorandum of Understanding (MoU) signed in Zurich… Read More
Partnership:
Diamond Credit Union selects Tyfone for its nFinia Digital Banking platform.
The platform will serve both commercial and retail customers.
Key Features:
Chosen for configur… Read More
Tapi secures $22 million Series A funding:
Led by Brazilian VC firm Kaszek
Participation from Californian VC Andreessen Horowitz (also led Tapi’s $9 million seed round in 2022)
About… Read More
Fines Imposed:
The Office of the Comptroller of the Currency (OCC) and the Federal Reserve Board fined Citigroup a combined $135.6 million.
OCC fined $75 million for failing to meet remediat… Read More
Funding:
TBC Bank Uzbekistan (TBC UZ) secured a $38.2 million equity investment from stakeholders.
TBC Bank Group, the parent company, is contributing $23 million.
The European Bank for Reco… Read More
Blockchain-powered Clearing And Settlement Fintech Partior Raises More Than $60m In Series B Funding
Funding:
Partior, a Singapore-based fintech start-up, secured over $60 million in a Series B funding round.
The round was led by Peak XV Partners (formerly Sequoia Capital India & SE… Read More
Company Launch: DWS, a German asset management firm, has launched a new company named AllUnity in collaboration with Flow Traders and Galaxy Digital.
Objective: The initiative aims to create… Read More
Nala: Remittance startup expanding to B2B payments.
Series A Funding: Raised $40 million, one of the largest in Africa.
Investors: Led by Acrew Capital; includes DST Global, Norrsken22, HOF… Read More
Coinbase’s Base Blockchain: Launched last year as Coinbase’s own layer-2 blockchain, Base aims to significantly impact both Coinbase and the entire cryptocurrency industry.
J… Read More
Company Overview:
Name: Adfin
Type: Fintech startup
Location: UK
Founders: Tom Pope (CEO) and Ciprian Diaconasu (CTO)
Funding: Raised $4.9 million in seed funds
Investors: Index Ventures, Vi… Read More
TBC Bank Uzbekistan Raises $38.2 Million for Expansion
Investment Details:
Total Raised: $38.2 million in equity investment.
Lead Investor: TBC Bank Group ($23 million).
Other Investors: Eur… Read More
ICYMI Funding Round-Up
Lemon.markets:
Amount: €12 million seed extension.
Lead: CommerzVentures.
Other Investors: Creandum, Lakestar, Lightspeed, Heliad, System.one.
Purpose: Expand Bro… Read More
Intuit to Cut 1,800 Jobs: Key Points
Job Cuts Announcement:
Intuit will cut 10% of its workforce, approximately 1,800 employees.
The announcement was made by CEO Sasan Goodarzi.
Reason for… Read More
Bain Capital to Acquire Envestnet for $4.5 Billion: Key Points
Acquisition Announcement:
Bain Capital will acquire US wealth management software provider Envestnet for $4.5 billion.
The deal… Read More
BNP Paribas Inks Multi-year Deal To Implement Mistral AI Commercial Models Across All Business Lines
BNP Paribas Partners with Mistral AI: Key Points
Partnership Agreement:
BNP Paribas has signed a multi-year agreement with Mistral AI.
The deal gives the bank access to Mistral AI’s cu… Read More
Skipify Appoints Sam Shrauger as COO: Key Points
New Appointment:
Skipify has appointed Sam Shrauger, former Airbnb Payments chief, as COO.
This marks a significant moment in the Californian… Read More
Affin Bank Selects ACI Worldwide for Payments Modernization: Key Points
Partnership Announcement:
Affin Bank in Malaysia has enlisted ACI Worldwide to modernize its real-time payment capabil… Read More
TASConnect Acquires Solv’s Malaysia and Vietnam Subsidiaries: Key Points
Acquisition Announcement:
TASConnect is acquiring Solv’s subsidiaries in Malaysia and Vietn… Read More
Daiwa Capital Markets Europe (DCME) Partners with Delta Capita for Client Lifecycle Management: Key Points
Partnership Announcement:
DCME has chosen Delta Capita, a UK-based pr… Read More
Griffin Becomes Certified B Corporation: Key Points
Certification Details:
Griffin, a UK digital challenger, is now a certified B Corporation.
Certification followed a rigorous verificat… Read More
Nala Secures $40 Million Series A Funding: Key Points
Funding Details:
UK-based remittance fintech Nala raised $40 million in a Series A funding round.
The round was led by Acrew Capital wit… Read More
America First Credit Union Partners with Loquat Inc for Enhanced Onboarding Experience: Key Points
Partnership Announcement:
America First Credit Union, the fifth-largest credit union in the… Read More
Dosh Aims to Become New Zealand’s First Locally-Owned Digital-Only Bank: Key Points
Company Background:
Dosh, a New Zealand-based fintech, offers a money app for spending… Read More
Clear Street Appoints Former CBOE Chief Edward Tilly as President: Key Points
New Appointment:
Edward Tilly, former chairman and CEO of CBOE Capital Markets, has been hired as the new presid… Read More
Canoe Intelligence Secures $36 Million in Series C Funding: Key Points
Funding Details:
Canoe Intelligence raised $36 million in a Series C funding round.
Led by Growth Equity at Goldman… Read More
Avidia Bank Upgrades Digital Banking with Q2 and Personetics: Key Points
Partnership Announcement:
Avidia Bank has partnered with Q2 and Personetics to enhance its online banking capabilitie… Read More
Azqore Partners with Volante Technologies for SEPA Instant Payments: Key Points
Partnership Announcement:
Azqore, an IT and banking operations provider, has selected Volante Technologies… Read More
Mashreq Bank Appoints Tushar Vikram as CEO of Mashreq India: Key Points
New Appointment:
Tushar Vikram, former Citibank India executive, has been named the new country head and CEO of Mashre… Read More
Bain Capital Nears Deal to Acquire Envestnet: Key Points
Potential Acquisition:
Bain Capital, managing around $185 billion in assets, is reportedly close to acquiring financial software… Read More
TymeBank Names Karl Westvig as New CEO: Key Points
New CEO Announcement:
Karl Westvig has been appointed as the new CEO of TymeBank.
Co-founder Coenraad Jonker will step aside as CEO and… Read More
First Federal Bank of Kansas (FFBKC) Partners with Jack Henry: Key Points
Partnership Announcement:
FFBKC has partnered with banking tech vendor Jack Henry to support its growth and communit… Read More
Vivid Money Acquires Pile: Key Points
Acquisition Announcement:
Berlin-based fintech Vivid Money has acquired fellow German fintech Pile to enhance its treasury solution capabilities.
Expan… Read More
Snappi Neobank Granted Universal Banking Licence: Key Points
Licence Approval:
Snappi, a Greek neobank, received a universal banking licence from the European Central Bank (ECB) following a… Read More
Oxbury Bank Achieves Profitability: Key Points
Profitability Milestone:
Achieved profitability in under three years since launch.
Reported a pre-tax profit of over £3 million for 2023… Read More
Robinhood Acquires Pluto Capital: Key Points
Acquisition Details:
Robinhood acquires investment research platform Pluto Capital for an undisclosed sum.
Marks Robinhood’s second acquisi… Read More
Project Nexus by BIS: Key Points
Project Overview:
Initiative by Bank for International Settlements Innovation Hub (BISIH).
Aims to enhance cross-border payments by connecting multiple domes… Read More
Electricity demand is booming on account of AI.
In a May 2024 report, Goldman Sachs predicted that data centers will use 8% of the U.S.’s total power supply by 2030, up fro… Read More
Revolut Annual Financial Report 2023: Key Points
Record Financial Performance:
Revenue Growth: Revenue surged by 95%, from $1.1 billion in 2022 to $2.2 billion in 2023.
Profit Before Tax: Ac… Read More
FDIC Issues Consent Order to Thread Bank: Key Points
Consent Order Issuance:
The US Federal Deposit Insurance Corporation (FDIC) has issued a consent order to Thread Bank, effective May 21… Read More
CTBC Bank Goes Live with Avaloq Core Platform: Key Points
Completion of Project:
CTBC Bank has completed a three-year implementation project to transform its private banking op… Read More
TeamSystem Acquires 61% Stake in Change Capital: Key Points
Acquisition Details:
TeamSystem, an Italian business software solutions provider, has acquired a 61% majority stake in Change Capi… Read More
Rainforest Secures $20 Million Series A Funding: Key Points
Funding and Investors:
Rainforest, a Payments-as-a-Service (PaaS) provider, secured $20 million in Series A funding.
The round was… Read More
AI is here to help, whether you’re drafting an email, making some concept art, or running a scam on vulnerable folks by making them think you’re a friend or relative in distress… Read More
Andrew Hocking Appointed CEO of Tribe Payments: Key Points
Promotion and Role:
Andrew Hocking, previously Chief Strategy Officer (CSO) for one year, has been promoted to CEO of UK-based digi… Read More
BlackRock to Acquire Preqin: Key Points
Acquisition Details:
US asset management firm BlackRock will acquire Preqin, a UK-based private markets data solutions provider, in a $3.2 billion (&p… Read More
Arrow Launches in Healthcare Tech Sector: Key Points
Company Launch:
Arrow, a US-based healthcare technology firm, has launched with the ambitious goal of becoming the “most important… Read More
Atom Bank Appoints New Chief Risk Officer: Key Points
New Appointment:
Gareth Jones has been appointed as Atom Bank’s new Chief Risk Officer (CRO).
He replaces Chris Sparks, who is ret… Read More
Payabli Series A Funding Round: Key Points
Funding Details:
Payabli, a US-based payments infrastructure firm, has raised $20 million in a Series A funding round led by QED Inve… Read More
Google’s trying to make waves with Gemini, its flagship suite of generative AI models, apps and services.
So what’s Google Gemini, exactly? How can you use it? And how does Gemi… Read More
ECB Digital Euro Progress Report: Key Points
Preparation Phase Progress:
The ECB’s digital euro preparation phase has been underway since November, with good progress rep… Read More
Haventree Bank Partners with Temenos: Key Points
Partnership Announcement:
Haventree Bank, a federally regulated Schedule 1 bank in Canada, has selected Temenos to modernize it… Read More
Raiffeisen Bank International (RBI) Partners with Surecomp: Key Points
Partnership Details:
RBI has selected Surecomp, a Canadian trade finance solutions provider, to digitize… Read More
Adept, a startup developing AI-powered “agents” to complete various software-based tasks, has agreed to license its tech to Amazon and the startup’s co-founders and portio… Read More
Nubank Acquires Hyperplane: Key Points
Acquisition Details:
Nubank, a Brazilian challenger bank, has acquired US-based data intelligence start-up Hyperplane for an undisclosed sum.
AI I… Read More
Frost Bank Partners with Finzly for Instant Payments: Key Points
Partnership Announcement:
Frost Bank has chosen fintech company Finzly to implement instant payment capabilities for its… Read More
What is AI good for? Automating repetitive tasks for the very busy people running small businesses, reckons Berlin-based startup Synthflow, which is announcing a $7.4 million seed round for… Read More
Moneyhub Appoints Anne de Kerckhove as Board Chair: Key Points
New Board Chair Appointment:
Anne de Kerckhove has been named the new board chair of Moneyhub.
Professional Background:
De Ker… Read More
Pozitive Payments Appoints Alex Daly as CFO: Key Points
New CFO Appointment:
Alex Daly has been appointed as the new chief financial officer (CFO) of Pozitive Payments, a subsidiary of L… Read More
Norm Ai Secures $27 Million Series A Funding: Key Points
Funding Round:
Norm Ai, a New York-based regtech start-up, raised $27 million in a Series A funding round.
The round was led by Coatu… Read More
Payset to Deploy Thought Machine’s Vault Payments: Key Points
Extended Partnership:
Payset extends its partnership with Thought Machine.
Will deploy Thought Machine’s cloud-n… Read More
FundPark Secures $250 Million ABS Facility from HSBC: Key Points
Funding Secured:
FundPark, a Hong Kong-based lender, secured a $250 million three-year private loan with HSBC a… Read More
French startup Dust has raised a $16 million Series A funding round led by Sequoia Capital. With Dust, companies can create custom AI assistants and share them with their employees so that… Read More
Bank Midwest Launches OnePlace.bank with Finastra: Key Points
New Digital Bank Launch:
Bank Midwest, serving Iowa, Minnesota, and South Dakota, has partnered with Finastra to launch OnePlace… Read More
Virgin Money Partners with Experian: Key Points
Strategic Partnership:
Virgin Money is partnering with Experian to enhance its digital customer experience.
The partnership aims to levera… Read More
Funding Circle Sells US Business to iBusiness Funding: Key Points
Sale Details:
Funding Circle has agreed to sell its US business to iBusiness Funding for £33 million.
The deal inc… Read More