I am speaking now
At the current rate, it will take another 134 years before we can reach global gender parity.
Banking
US fintech Amount lands $30m in fresh funding to advance AI capabilities
Amount’s tech powers deposit account opening and loan origination for banks and credit unions.
CaixaBank doubles down on generative AI with launch of GalaxIA project
The new project will look to build on its GenIAl project launched late last year.
The perfection paradox and the power of pragmatism
Pursuing perfection in digital transformations often causes more problems than it solves.
Revolut becomes Europe’s most valuable private tech firm after $500m employee share sale
Following the share sale, Revolut is now valued at $45 billion, up from $33 million in 2021.
FinTech Futures: Top five news stories of the week – 16 August 2024
Our pick of the top fintech news stories this week includes Scotiabank, Tally, Experian and more.
The shifting credit landscape in the digital age
Will the concept of a credit score as we know it become obsolete?
MAS to commence quantum-proofing cybersecurity trials with banks “in the coming months”
DBS, HSBC, OCBC, UOB, SPTel and SpeQtral are all set to take part.
Ohio’s first female-led bank Fortuna nears launch after raising $20.7m
Fortuna is aiming to soft launch in fall 2024.
The greatest story never told
I suspect it is inevitable that a bit of a rethink around open banking will have to happen.
Banking Tech Awards 2024 nominations deadline extended to 6 September
You now have until 6 September to submit your nominations for this year’s Banking Tech Awards!
Scotiabank buys 14.9% stake in KeyCorp for $2.8bn
The Canadian bank’s CEO says the deal “creates future optionality for Scotiabank in the North American corridor”.
What the FinTech? | S.5 Episode 13 | Fintech start-ups and navigating the road to sustainable growth
In this podcast episode, we chat with Sam Edge of AWS about the current fintech start-up landscape.
Triodos Bank UK appoints Mark Clayton as new chief operating officer
Clayton previously spent 23 years at HSBC and was most recently COO at Unity Trust Bank.
Pennsylvania’s Customers Bancorp hit with enforcement action by US Federal Reserve
The enforcement action follows a recent inspection and does not include a fine.
FinTech Futures: Top five news stories of the week – 9 August 2024
Our pick of the top fintech news stories this week includes NCR Voyix, CIBC, Société Générale and more.
Video: Harnessing AI in financial services with IBM
IBM’s Shanker Ramamurthy and John Duigenan discuss how to overcome the hurdles around AI adoption.
ClearBank secures new Credit Institution Licence from the ECB to expand into Europe
The licence was secured by ClearBank Europe N.V., ClearBank’s newly established European entity.
Unit secures new embedded finance partnerships with Vantage Bank and Lincoln Savings Bank
The two new deals come just months after Unit revealed it was cutting 15% of its workforce.
Be more like Suresh
Wouldn’t it be great if you could replace your core banking tech or any system on a regular basis?
DORA the explorer travels light
Things are only going to get faster and more demanding. So travel light, because you need to go far.
CIBC plans to hire for 200 new data and AI roles over the next 12 months
The new hires will be tasked with advancing “resilient and trustworthy AI solutions” across the bank.
UBP snaps up Société Générale’s UK and Swiss private banking subsidiaries in €900m deal
UBP claims the deal will boost its AUM by €26 billion to €186 billion.
NCR Voyix agrees to sell digital banking unit to Veritas Capital for $2.45bn
NCR Voyix says its digital banking business currently supports “1,300 top-tier financial institutions”.
Kuwait’s Boubyan Bank taps Temenos to modernise its core banking systems
The bank is migrating to Temenos’ core banking platform for corporate banking, retail, and wealth management.
Lloyds Banking Group names Rohit Dhawan as new group director of AI and advanced analytics
In this newly created position, Dhawan will oversee Lloyds’ AI Centre of Excellence.
Philippines-based fintech Mynt sees valuation top $5bn with MUFG and Ayala funding
Both MUFG and Ayala Corporation have invested $393 million each in the company.
BNP Paribas enters exclusive talks to buy AXA Investment Managers for €5.4bn
AXA says the proposed deal will “create a leading European asset manager” with total AUM of €1.5 trillion.
FinTech Futures: Top five news stories of the week – 2 August 2024
Our pick of the top fintech news stories this week includes Renasant Corporation, Stripe, ING and more.
Texas-based TransPecos Banks selects Oscilar’s risk management tech for BaaS compliance
Oscilar has been tapped by the bank for its AI-driven AML Risk Platform solution.
Is it time for banks to turn and face the change?
As society evolves, traditional banks must adapt, or else they face an inevitable demise.
Wells Fargo names BNY’s Bridget Engle as new head of technology
It has also been announced that Wells Fargo CIO Tracy Kerrins will lead consumer technology and a new AI unit.
Caribbean-based Proven Bank taps Ireland’s Fenergo for transaction monitoring solution
Fenergo says its solution is designed to reduce false positives and automate manual AML processes.
Qonto receives order from Banca d’Italia to improve AML measures in its Italian subsidiary
The firm says the order includes a temporary ban on onboarding new customers in Italy.
The remaining 90%
In a place where everyone says only a fraction of what they mean, speaking your mind makes you scary.
July 2024: Top five AI stories of the month
FinTech Futures takes a look back at five of the top AI stories from July.
German American Bancorp and Heartland BancCorp to merge in $330m deal
The new combined entity will reportedly boast over $8.1 billion in assets under management.
Octo3 merges with fintech solutions provider Evantagesoft to launch new FTS.Money brand in Asia
The new brand is preparing to launch IBAN accounts and remittance services later this year.
Video: Keyless co-founder Fabian Eberle discusses privacy-preserving biometrics
Keyless’ Fabian Eberle speaks with FinTech Futures about the growing adoption of privacy-preserving biometrics.
Ireland’s An Post joins forces with Safecypher to combat CNP payment fraud
Safecypher’s tech tackles CNP fraud by enhancing CVV protection for card payments.
