US fintech Arcus Partners appoints new CTO, Saurabh Bhole
Bhole will be tasked with leading the further development of the company’s Finity360 product suite.
API
Israeli trade financing start-up 40Seas raises $111m
40Seas offers financing for SMEs involved in global commerce.
Embedded finance to lead the way in 2023 fintech innovation
Over 2023, financial services will continue to become more digital, accessible and decentralised.
Allianz, Santander CIB and Two partner for corporate BNPL solution
The solution means corporates can now offer business buyers deferred payments at checkout through a single API.
Mortgage tech firm Twenty7tec acquires Broker Sense and Meet Parker
The deals follow Twenty7tec’s acquisition of fellow UK fintech Bluecoat Software in June last year.
Crypto API provider Wyre reportedly shuttering
The news comes after Wyre was set to be acquired by e-commerce checkout fintech Bolt in April last year for $1.5bn.
2022: Top five payments stories
FinTech Futures takes a look back at some of the year’s top developments and stories in payments.
Splitit and Worldline ink North American BNPL deal
Initially, Worldline plans on integrating Splitit into its North American processing platform before expanding into other geographies.
Fintech Galaxy snaps up Egypt’s Underlie to boost regional open finance
Fintech Galaxy will leverage Underlie’s open banking APIs expertise to speed up market penetration in Egypt.
Teneo partners NatWest for A2A open banking payment solution Payit
Teneo will leverage account-to-account solution Payit to pay dividends to those affected by insolvent firms.
North America fintech funding round-up: Syncfy, Totem and more
Our weekly fintech round-up for you to get the latest funding news from across North America.
Broadridge names Martin Koopman as new chief product officer
In his new role, Koopman will head up the product management team across all of Broadridge’s business units.
Saudi financial super-app Tweeq lands central bank e-money licence
Tweeq leverages Paymentology’s Banking.Live platform and hopes to launch its app soon.
Veritex Community Bank taps Finzly to transform payments
The Texas-based bank will utilise Finzly’s Payments Hub solution.
SBM Bank India partners Open to launch fintech platform
Open CEO Anish Achuthan says the platform will democratise fintech and “redefine” the Indian business landscape.
Ohio’s Huntington National Bank teams up with InvestCloud to launch Advisor Connect solution
The new offering is built on InvestCloud’s Find My Advisor technology.
ClearBank taps ThetaRay for cloud-native Sonar AML solution
ClearBank will utilise ThetaRay’s tech for AML monitoring, providing flexibility as it scales.
UK fintech start-up Paytrix appoints David Sola as new CFO
Sola has previously served as a managing director at UBS, Houlihan Lokey and Softbank Europe.
Equals Group to acquire open banking payments platform Roqqett in £2.25m deal
Equals will pick up Roqqett’s AISP and PISP licenses through the acquisition.
UK’s ClearBank hits profitability as revenues soar
The firm says it has generated £45.4 million in revenue since the beginning of this year.
Kenya’s DeltaPay taps Provenir for data and risk decisioning platform
DeltaPay leverages alternative data to expand financial access to affordable consumer credit.
Klarna launches new open banking sandbox initiative
With the initiative, Klarna hopes to accelerate innovation in the development of open banking use cases.
Why zero trust security is central to operational resilience – and regulatory compliance
Designing systems with a zero trust approach built in must become a fundamental step in the security process.
Do banks really need a new core?
What are the main reasons or drivers for changing your core? I can think of a few.
WeGift bags £26m in Series B funding
The funds will be used towards WeGift’s growth, key hires, and adding new features.
Vietnam’s Sacombank taps Temenos for digital banking platform
Temenos Infinity will allow Sacombank to acquire, retain and cross-sell to customers across multiple channels.
UAE’s Wio Bank goes live on Mambu’s cloud banking platform
The challenger says it chose Mambu’s API-led cloud platform to achieve a “faster” time to market.
Crypto infrastructure start-up Ramp raises $70m in Series B round
The Series B follows Ramp’s $52.7 million Series A round in December 2021.
The demise of the 90-day rule and the future of open banking
To make open banking tech a success in the long term, the guarantee of data security must be a continued priority.
Fintech Galaxy lands TPP licence from Central Bank of Bahrain
The licence allows the firm to integrate its FINX platform with multiple bank APIs.
Federated banking
Federated technology could offer banks a number of benefits and play a huge role in their internal transformation.
DBS and digitalisation: what the West can learn from the East
“Meaningful innovation is the true litmus test,” says DBS’ Shee Tse Koon.
MoneyGram expands Coinme partnership, launches in-app crypto service
Users across nearly all US states can now trade and store BTC, ETH and LTC in the MoneyGram app.
Blockchain.com partners Visa and Marqeta to launch crypto debit card
The card is available to US residents and will be rolled out to customers in additional countries starting in 2023.
Paytech Form3 lands €23m venture debt facility from Atempo Growth
The funding will enable Form3 to explore potential M&A opportunities and launch in new markets.
Raisin migrates its UK platform to ClearBank
ClearBank will offer Raisin customers access to faster payments and other services via its embedded banking platform.
Financial super-app Curve partners Salt Edge for open banking compliance
The partnership will enable the app’s 4m users across Europe to continue to make the most of open banking.
US challenger Zenus picks Finxact to power its “global banking platform”
Finxact will join Microsoft and HSO, a business network and cloud consultancy, in delivering the platform.
Africa’s Cellulant partners Mastercard for online e-commerce payments
Cellulant’s customers can now pay online wherever Mastercard is accepted via the Tingg wallet.
Open API maturity is slowing due to a lack of industry standardisation
Common business standards are required to enable interoperability of APIs across the financial services sector.
