Teen financial platform Step lands $300m in debt funding
The new funding brings the total capital raised by Step to $500 million in equity and debt.
Challenger Bank
State Bank of Pakistan stops fintech start-up Tag’s operations
The central bank says it has taken this decision to “protect the interest of the public at large”.
FinTech Futures: Top five stories of the week – 7 October 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Banking Technology Magazine October 2022 issue out now
Cover story: INVESTING IN THE FUTURE – Putting money in the right places.
ICYMI fintech funding round-up: Vance, Solvento and Jingle Pay
Our weekly fintech round-up for you to get the latest funding news from around the world.
European community fintech 11Onze launches SME banking app
11Onze chair James Sène says SMEs are “the lifeblood of our communities and global economies”.
UK challenger Zopa in talks to raise $100m before mooted public listing
Zopa is reportedly in “detailed negotiations” with shareholders to raise around $100m.
What the FinTech? | S.3 Episode 14 | How team work makes the dream work
In this episode, we’re joined by Gabriele Columbro, founder and executive director of FINOS.
Colendi secures $150m credit facility from Fibabanka
The firm aims to provide new loan and investment opportunities for the underbanked.
Two new fintech start-ups in Turkey – Lidsi and Turan
Lidsi is a savings app launching in January 2023, and Turan is an all-encompassing financial application.
UK challenger Bank North collapses
The bank failed to raise the funds needed for a full banking licence.
Apiture partners Newtek to provide digital banking services to businesses
The Apiture Digital Banking Platform will provide business banking and account opening solutions.
Tandem CEO Susie Aliker to step down, Alex Mollart to take over
Mollart is currently deputy CEO at the bank, having joined through the acquisition of Oplo.
Revolut can offer crypto asset services after FCA AML registration
Revolut, an authorised EMI since 2018, was added to the Financial Services Register on 26 September.
New challenger bank in India for young professionals – Shelf
Shelf was recently accepted into start-up accelerator Y Combinator’s Summer 2022 batch.
New “hybrid” banking app Dexy gears up for launch in the US
Founded this year and based in Miami, Florida, Dexy is currently waitlisting applicants.
Battle Financial taps Savana for upcoming digital bank offering
Pending regulatory approval, Battle Bank is expected to launch in early 2023.
London-based open banking app sync. goes into administration
Start-up sync. was planning “massive growth” in 2021, powered by Railsr’s BaaS platform.
Banking start-up Fiinu readies for launch with new leadership hires
Fiinu has hired a new CFO, CPO and head of technology.
New digital bank Bond to launch soon in the UK
Bond is gearing up to launch sometime in Q1 2023.
CSI’s tech to underpin new UK challenger Bevan Money
Bevan Money aims to launch sometime in late 2023 or early 2024.
Stash goes live with self-built core banking system Stash Core
Stash partnered with Stride Bank, Mastercard, Marqeta, Mambu and Alloy, among others, to develop Stash Core.
Zopa Bank and ClearScore in bid to strengthen consumer finances by 2025
The initiative will focus on four areas – savings, credit building, debt consolidation and utility marketplaces.
FairMoney taps banking tech vendor Oradian to power next growth phase
Oradian’s account, finance and investment offerings are tailored to the needs of rapidly developing markets.
New family banking app Verity launches in MENA region
Verity aims to help children develop their personal finance skills.
Revolut falls victim to “highly targeted” cyber-attack
In an e-mail to affected customers, Revolut says some individuals may be vulnerable to fraud and phishing attacks.
FinTech Futures: Top five stories of the week – 16 September 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
US digital bank for migrants Majority lands $37.5m Series B
Majority says it will deploy the new funds towards enhancing its suite of essential services.
Former Citi banking veteran joins leadership team of challenger bank Zolve
Freiberg was co-chairman and CEO of Citigroup’s global consumer group for three decades.
New challenger Wio Bank launches in the UAE
It will provide financial solutions via digital banking apps, embedded finance and as Banking-as-a-Service.
Are challenger banks now facing challengers of their own?
For the first time in their short history, the challengers are now being challenged themselves.
New challenger bank in the UK – StreamBank
StreamBank intends to be a partner for property professionals looking for bridging or development finance.
Swiss digital bank Alpian partners Visa for new debit card
Alpian has plans for a full public rollout by the end of this year.
Mambu core banking tech underpins new African bank, Carbon Finance
Nigeria’s Carbon Finance is now a full-service bank with pan-African aspirations.
African challenger Kuda cuts 5% of workforce
Kuda says cuts were made across growth, marketing and product departments in the company.
Singapore’s GXS Bank launches with savings product for the underbanked
GXS wants to address the pain points of the two in five Singapore residents who are currently underbanked.
Banking Technology Magazine September 2022 issue out now
Cover story: MONEY PUZZLE – Helping US arrivals get on track financially.
UK parliamentary group on challengers calls for financial services “big bang”
The APPG says reforms in the sector could support the government’s levelling-up agenda.
Jupiter Fund Management looks to sell its stake in Starling Bank
The firm’s stake in the UK challenger bank is approximately 10%.
Oxbury Bank lands £25m in Tier 2 capital funding
The capital facility will enable the bank to lend an additional £250m to British agriculture firms through to 2023.
