CFPB finalises rule to supervise big tech firms offering digital payment apps
The development cements proposals first put forward by the regulator in November last year.
Consumer/Personal Finance
News, intelligence and resources on the global fintech industry including topics such as consumer/personal finance.
Beacon unveils new digital wallet offering built for immigrants to Canada
Beacon’s new service will support bill payments, salary deposits, Interac e-Transfers, and more.
ICYMI fintech funding round-up: Tako, Zeplyn, Tranched, and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Klarna picks New York for upcoming IPO
Klarna has not yet disclosed the number of shares or expected price range of the offering.
Prodigy Finance inks $310m funding facility with US DFC for cross-border student loans
Prodigy previously sourced a $250 million facility with the DFC in 2020.
Visa rolls out flexible payment solution in US and UAE with Affirm and Liv
The offering has been available in Asia for over a year with the launch of Olive Card in Japan.
Agicap lands €45m Series C led by AXA Venture Partners
The new funding builds upon Agicap’s $100 million Series B, led by GreenOaks Capital in 2021.
Japan’s SmartBank secures $27m in mix of equity funding and debt financing
SmartBank says it is “actively recruiting” for roles in marketing, compliance, data analysis, and engineering.
Interview: Jason Cao on Huawei’s fintech frontier and digital transformation innovation
Cao details the best strategies for digital amid a “highly challenging time” for the global banking industry.
Solaris sells Engage business to UK fintech Suits Me
Suits Me’s CEO says the migration of Engage customers has “already started and will be finished mid-January 2025”.
FinTech Futures: Top five news stories of the week – 8 November 2024
Our pick of the top fintech news stories this week includes Bank of New Zealand, Airwallex, Griffin and more.
Marygold & Co UK selects Griffin to embed savings accounts into money management app
The app will launch for individuals and small businesses in the UK “later this year”.
Video: DailyPay at Money20/20 USA 2024 – The growing demand for earned wage access
FinTech Futures chats with Stacy Greiner, CEO of DailyPay, about the future of earned wage access.
Bumper enhances dealer partner insights with acquisition of AutoBI
The deal comes after Bumper raised a $48 million Series B in January.
US BNPL fintech Affirm launches pay-over-time options for UK consumers
Affirm’s UK country manager Ruth Spratt says the UK is “the perfect place for the next phase of Affirm’s journey”.
US lender PowerPay lands $60m corporate bond led by KeyBank
PowerPay claims to have processed over $8 billion in loans since its inception in 2017.
October 2024: Top five M&A deals of the month
FinTech Futures takes a look back at five of the top M&A deals in October.
New digital wallet Kuady launches in several LatAm markets powered by Mambu
The Kuady digital wallet has recently become available in Argentina, Chile, Mexico, and Peru.
Array purchases Payitoff to expand private-label portfolio with consumer debt management tools
Array is set to enrich its private-label suite by incorporating Payitoff’s financial guidance tools.
Kapitus snaps up Ten Oaks Commercial Capital, launches equipment financing arm
Kapitus serves as a direct lender and marketplace, providing over $6.5 billion to nearly 55,000 businesses.
Africa’s “fastest-growing fintech” Moniepoint secures $110m Series C funding
The round was led by Development Partners International with participation from Google’s Africa Investment Fund.
October 2024: Top five fintech funding rounds of the month
FinTech Futures takes a look back at five of the top funding rounds to take place over October.
October 2024: Top five movers and shakers stories of the month
FinTech Futures takes a look back at five of the top movers and shakers stories in October.
Western Union acquires Singtel’s mobile wallet Dash
Dash has accrued 1.4 million customers since launching 10 years ago.
Moneybox’s valuation climbs to £550m with new £70m investment
Moneybox says the investment will “mainly be facilitated through a secondary share sale”.
TransUnion appoints HSBC’s Madhusudan Kejriwal as new CEO for UK and Europe
Kejriwal will succeed Mark Horsey, who has acted as TransUnion’s interim regional CEO for the past year.
CFPB orders Apple and Goldman Sachs to pay combined $89m over “Apple Card failures”
Apple first selected Goldman Sachs in 2018 to develop and power its credit card offering.
LendInvest renews £300m warehouse financing deal with HSBC, Barclays, and BNP Paribas
In September, LendInvest also increased its funding agreement with JP Morgan by £500 million.
Banking Tech Awards USA 2025 now open for entries
The deadline for entries is 7 February 2025.
Daily News at Sibos 2024
Download your free copy of the Daily News at Sibos publication today!
Klarna sells UK loan portfolio to hedge fund Elliott Advisors in £30bn deal
Klarna says it will still own “all consumer-facing activities, including underwriting and servicing”.
Banking Tech Awards 2024 finalists revealed!
We are delighted to share with you the shortlist for FinTech Futures’ Banking Tech Awards 2024.
Morocco’s CIH Bank taps Backbase for Engagement Banking platform
CIH Bank will use the platform to onboard both local customers and Moroccans living abroad.
Barclays signs agreement to become exclusive issuer of GM credit card programme
The bank will replace Goldman Sachs as the issuer of the US automotive giant’s credit card programme.
FinVolution expands into Pakistan with Daira launch
Daira is a new lending platform offering low-interest, flexible loans for customers in Pakistan.
SoFi secures $2bn deal with Fortress Investment Group to expand loan platform business
The deal will help fuel the company’s personal loan origination activities.
Best Egg lands $500m purchase facility to expand personal loan product
The purchase facility builds on the company’s $225 million Series E round completed in March 2022.
LendingClub and Pagaya acquire intellectual property of shuttered fintech Tally
Tally closed in August, citing insufficient funding as the primary reason for its shutdown.
Financial planning fintech Facet raises $35m funding round
This round increases Facet’s total raised to $210 million.
Hastings Direct Loans boosts fraud prevention capabilities with IDVerse partnership
Hastings Direct expanded into personal loans around three years ago.
