Banking Technology Magazine November 2024 issue out now
Cover story: GOING GREEN – Why sustainable finance is vital.
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Welcome to the latest edition of Banking Technology, packed with stories on the good, the bad and the ugly of the banking technology and fintech industry worldwide.
In the UK, new digital banking hopeful Afin has received authorisation with restrictions from the regulator and entered a mobilisation stage ahead of its 2025 launch. The bank plans to offer residential and buy-to-let mortgages for Africans residing in England and Wales, and products for UK citizens and African nationals from Nigeria, Gambia, Sierra Leone and Ghana living in the UK. It also named its technology partners – software development firm Vacuumlabs and core banking software vendor Thought Machine.
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Meanwhile, London-based Manigo entered administration and was promptly snapped up by PE firm Invex Ventures. Founded in 2017, Manigo enabled businesses to launch cards, accounts and payment services under their own brand. A source told FinTech Futures the administration was expedited when a “big project failed, which brought everything down” and “everything happened very quickly”.
In Australia, equity crowdfunding platform Equitise has, too, entered administration after it was unable to secure fresh funding to continue operating. Founded in 2014 and backed by several VCs, Equitise enables users to invest from as little as $50 in emerging start-ups and small businesses in Australia and New Zealand. Its notable crowdfunding projects include the 2018 raise for neobank Xinja and the 2022 raise for employee engagement solution provider Nine25.
Head over to our News section to stay up-to-date on the continuous flurry of fintech arrivals and departures as well as other notable developments, including mergers and acquisitions, leadership shake-ups, fines and much more.
