Cebuana Lhuillier Bank taps Temenos for core banking platform
Temenos has tasked its delivery partner, Orion Innovation, with implementing the new core.
Consumer/Personal Finance
Turkish fintech Param acquires BNPL firm Twisto to boost European expansion
Param plans to leverage Twisto’s licences to offer its embedded financial solutions across Europe.
Monzo tops CMA banking satisfaction survey once again
The independent survey was carried out by Ipsos and BVA BDRC between July 2022 and June 2023.
Mexican challenger Klar lands $100m debt facility to expand credit product offerings
The new facility has been provided by US investment firm Victory Park Capital.
New digital bank for the US military Roger launches
Roger was built in partnership with banking technology solutions provider Nymbus.
UK fintech start-up Fronted closes down
Fronted was founded in 2019 by former employees of Bud Financial, Monzo and Apple.
Discover Financial Services’ CEO and president Roger Hochschild steps down
Hochschild will serve in an advisory role at the company until the end of the year to ensure a smooth transition.
Roland Folz to lead CloudPay as newly appointed CEO
Folz joins CloudPay from the German credit institution Solaris SE, where he served as CEO from 2017 to 2023.
More than 25 US credit unions and community banks tap Eltropy for AI Chat offering
ACFCU and First Credit Union are among the company’s to deploy Eltropy’s AI tech.
FCA asks UK banks to hand over data on bank account closures
The UK’s largest banks and building societies have until 25 August to supply the information.
FinTech Futures: Top five stories of the week – 11 August 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
US fintech Greenlight launches credit builder tool for teenagers
Greenlight says parents can add their teenagers as authorised users of its credit card to start building credit.
US fintech Block set to close European payments app Verse
The move is part of Block’s plans to reduce brand spending.
FCA warns consumers against loan fee fraudsters amid rising summer borrowing
The average loss to loan fee fraud in the UK is £260.
Svatantra to acquire Navi Group’s microfinance subsidiary for $178.6m
On completion of the deal, Svatantra says it will become the second largest microfinance entity in India.
State of play: 2023 so far
What’s the current state of play for the financial services sector and what can we expect for the remainder of 2023?
Credit card fintech Petal secures $200m debt facility from Victory Park Capital
In addition, the company has also raised $20 million in new equity financing from its existing investors.
US credit union associations CUNA and NAFCU announce merger to form America’s Credit Unions
A 60-day voting period for members to approve the merger is expected to begin later this month.
ICYMI fintech funding round-up: Pockit, Orbital, Traction & more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Over $10bn deposited into Apple Card’s savings account in first four months of going live
The offering had already accumulated $1 billion in deposits within the first week of going live.
Automotive lending platform GoFi taps Provenir for credit risk decisioning
The Texas-headquartered company has implemented Provenir’s Data and Decisioning Platform.
Seacoast Bank strikes deal with NCR for ATM-as-a-Service solution
Seacoast Bank is leveraging NCR’s ATM-as-a-Service solution to replace its conventional ATM fleet.
Vestwell taps workplace financial wellness with Gradifi Solutions acquisition
Vestwell acquires Gradifi Solutions from Morgan Stanley, following its acquisition of E*TRADE Financial.
US fintech Rocket Companies appoints Varun Krishna as new CEO
Rocket Companies also revealed that president and COO Bob Walters is to retire after 27 years with the firm.
UK consumer lending start-up Koyo Loans closes down
All of Koyo’s existing loans have been transferred to Capquest for management.
The FCA’s Consumer Duty clamps down on unfair savings rates
The regulator’s 14-point plan seeks fairer interest rates on UK savings accounts.
Vanquis Banking Group buys UK smart money app Snoop
Snoop leverages AI and open banking technology to provide personalised overviews of spending habits.
South Korea’s Finda bags $37m Series C funding
JB Financial Group took part in the round as a strategic investor, acquiring a 15% stake in the company.
The Republic of Palau taps Ripple for first stablecoin pilot
The pilot is expected to last for three months between selected merchants and government employees.
Mercury Financial secures $200m debt facility to expand credit card business
The facility has been provided by client funds managed by US investment banking company Neuberger Berman.
Upgrade snaps up BNPL vendor Uplift for $100m
California-headquartered Uplift provides BNPL payment and credit products to the travel industry.
The Philippines’ UnionBank taps NCR to manage its ATMs
The Philippines’ ninth largest bank currently operates over 400 ATMs across the country.
FinTech Futures: Top five stories of the week – 28 July 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
ICYMI fintech funding round-up: Giraffe, eflow Global, Galaxy Ventures & more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
UK challenger Monument names Fiona Pollard as new chair
Pollard replaces Niall Booker, who indicated his intention to step down from the position last year.
Pay.UK reveals big jump in number of current account switches in the UK over last 12 months
Pay.UK’s Current Account Switch Service has seen a 50% increase in switches compared to last year.
US earned wage access start-up Immediate bags fresh funding, expands credit facility
The Alabama-based firm aims to “improve financial wellness and eliminate cycles of debt for employees”.
Banking Tech Awards USA 2023 winner: SavvyMoney – the power of partnerships in fintech & banking
Digging into why so many FIs are turning to fintechs versus developing their own solutions.
NatWest chief exec Alison Rose steps down with immediate effect
The group’s board of directors says Rose has “agreed by mutual consent to step down”.
Italy’s Mediobanca partners Founders Factory for new UK fintech venture studio
The joint venture is central to the Italian bank’s strategic plan to strengthen its technology ecosystem.
