PFM downturn continues as Status Money closes down
The company’s website and app with cease to operate from 10 November.
Business-to-Consumer/B2C
Video: Mastercard at Money20/20 USA 2023 – Fintech partnerships and sustainable growth models
We chat with Mastercard’s Tim Montgomery and Hania Faridi about the company’s approach to fintech partnerships.
National Bank of Georgia taps Ripple for CBDC pilot
With Ripple, Georgia’s central bank aims to explore use cases and potential benefits of having a digital currency.
Intuit to merge personal financial management subsidiary Mint into Credit Karma
Intuit first acquired Mint for $170 million back in 2009.
BNPL fintech Tabby lands $200m Series D at $1.5bn valuation ahead of planned IPO
Tabby claims it has become the Middle East’s first fintech unicorn ahead of its planned IPO in Saudi Arabia.
Kuwait Finance House launches new youth-focused digital bank Tam
Tam offers a digital savings account, prepaid cards, student allowance management and local transfer services.
US fintech for older Americans, Charlie, secures $23m Series A
The funding round includes $16 million in equity and $7 million in debt.
IndusInd Bank taps Viamericas for digital inward remittance offering
The bank says its remittance platform provides customers with full transparency over payments.
UAE’s Ajman Bank selects Codebase Technologies to power retail “super-app”
Ajman Bank will utilise Codebase’s Digibanc platform along with cloud solutions from Cloud4C and Microsoft Azure.
Ziglu founder Mark Hipperson rejoins company as executive chairman
Kevin Hanley and Mark Jenkinson are also joining Ziglu as co-CEOs.
Singapore’s YouTrip eyes international expansion following $50m Series B raise
The latest cash injection brings YouTrip’s total funding to date to over $100 million.
Blackbullion taps Bud to streamline higher education student finance applications
Blackbullion will deploy Bud’s Assess solution and its open banking and transactional AI tech.
Colombia’s Nequi taps TerraPay for international remittances
The partnership will extend the app’s remittance network to over 200 countries worldwide.
BNP Paribas and 321founded partner to launch marketplace payment management fintech Panto
The solution is set to launch commercially in H1 2024 and will be led by CEO Guillaume Massis.
Íkualo to launch next month as neobank for Europe’s financially excluded immigrant community
The licensed electronic money institution will be able to onboard new customers with just a passport.
US regional bank United Community partners Allied Payment Network for real-time payments
The South Carolina-based bank is to integrate Allied’s RTP solutions into its Q2 digital banking platform.
Southeast Asia’s BigPay taps Thredd to power payment processing
As BigPay expands in Southeast Asia, the firm says it needed a partner with “deep understanding of the region”.
UAE’s central bank launches Aani, a new instant payments platform
Aani enables transactions to be processed “instantly and securely” at any given time.
Ally Financial CEO Jeffrey Brown to step down
Brown is due to depart the Michigan-based online bank on 31 January 2024.
Finland’s Aktia Bank goes live with Temenos Payments Hub
The bank first began working with Temenos six years ago, when it adopted its T24 core banking system.
Japan’s 77 Bank taps Fujitsu to launch in-store banking tablets
The in-store tablets are backed by Fujitsu’s customer engagement solution Chordship.
US payments start-up Braid winds down operations
The start-up offered a multi-user financial account where consumers could pool their money and make payments.
CFPB issues guidance to stop big banks from charging “illegal junk fees”
The CFPB has made it clear to banks that people are entitled to get basic information without having to pay junk fees.
UK’s FCA certifies paytech Viva Group as e-money institution
The company describes the licencing as “a significant step forward” for its position in the UK neobanking market.
India’s IDBI Bank names Nehal Shah as new deputy chief technology officer
Shah will be responsible for the bank’s IT security and digital channels across various functions.
German fintech Upvest secures €30m funding and enters partnership with BlackRock
Upvest has also partnered BlackRock in a bid to make investing “more accessible” for investors across Europe.
Spice Money taps NSDL Payments Bank to offer zero balance accounts to rural India
Through this partnership, Spice Money aims to broaden financial inclusion across India.
UK’s FCA orders electronic money issuer Nvayo to suspend operations
Nvayo says that it “is working with the FCA to resolve their concerns and hope to find a solution”.
Francesca Carlesi steps down as CEO of digital mortgage lender Molo
Carlesi is to depart Molo, which she has led since its inception in 2018, on 25 November 2023.
PSP NomadRem taps regtech iDenfy for ID verification and AML screening
The payment service provider is to deploy the regtech’s solutions to enhance its customer onboarding processes.
Fintech unicorn Slice to merge with India’s North East Small Finance Bank
Its merger with NESFB will see Slice transition into a small finance bank.
American Express to pilot biometrics for online transactions
The biometrics have been developed by the FIDO Alliance and the World Wide Web Consortium.
ICYMI fintech funding round-up: Mantle, SaaScada, Rainforest and more
Our weekly fintech round-up for you to get the latest funding news from around the world.
FinTech Futures: Top five stories of the week – 6 October 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
US fintech PayZen launches new product to boost healthcare affordability
With the Care Card, patients can access PayZen’s post-service payment plans through a physical and virtual debit card.
Brite Payments secures $60m funding, eyes international expansion
It plans to develop its proprietary Brite Instant Payments Network that facilitates 24/7 “instant” processing.
UK fintech Weavr to shutter open banking payments app Comma
The move is not expected to result in job losses.
Experian launches digital checking account and debit card for US consumers
With sign-up taking “minutes”, Experian’s new feature allows consumers to “streamline” their financial experience.
Visa taps US security operations provider Expel for MDR capabilities
Expel’s managed detection and response (MDR) solution claims to reduce alert-to-response times “to minutes”.
Tap Global sets up US expansion through Zero Hash partnership
The UK-based cryptocurrency app intends to complete its US expansion by Q4 2023.
