Banking Technology Magazine September 2024 issue out now
Cover story: HOP INTO THE FUTURE – Banks must turn and face the change.
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Welcome to the September edition of Banking Technology, packed with the expert commentary, informed views and the compilation of the most notable movements in the world of banking and fintech over the last month.
There are newcomers on the scene, such as Fortuna, Ohio’s first female-led bank; HUSTL, a digital banking service for freelancers launched by Arizona’s Vantage West Credit Union; Sync Savings, a cash savings infrastructure provider in the UK; and Science Card, a mobile banking app for university research (see p4), to name a few.
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Inevitably, there are closures too. Head over to p5 for the latest on Totem, a banking start-up for Native Americans in the US; and Finance+, a financial services app from Swiss retail and wholesale heavyweight Coop.
And then there is – or was – Tally, a San Francisco-based fintech that has built an automated debt manager to help individuals overcome credit card debt and save on interest payments.
Unlike the short-lived ventures such as Totem (two years) and Finance+ (one year), San Francisco-based Tally has survived for nearly a decade and attracted considerable capital. It has reportedly raised $172 million to date, including $80 million in a Series D funding round led by Sway Ventures in 2022, and was last valued at $855 million.
Alas, founder and CEO Jason Brown now says his company, which employs 183 people, hasn’t been able to secure sufficient funding to continue operations.
Head over to FinTech Futures’ comprehensive news reel of fintech arrivals and departures, and more
