Vietnamese fintech start-up Gimo secures $17m in Series A funding
Founded in 2019, Gimo provides flexible pay and financial wellbeing solutions for underbanked workers in Vietnam.
Consumer/Personal Finance
JP Morgan CEO confirms German expansion for Chase digital bank
The confirmation comes two years after the digital bank launched in the UK.
Bain Capital buys majority stake in India’s Adani Capital, invests $120m to boost growth
Bain Capital will pick up a 90% stake, with current CEO Gaurav Gupta retaining the other 10%.
UK challenger Atom Bank records first ever annual operating profit
The bank has seen its customer count jump from around 123,000 during FY22 to 224,000 at present.
Fintechs call on UK government to put an end to hidden fees in cross-border payments
15 fintechs including Wise, Monzo, Revolut and Klarna have penned an open letter to UK chancellor Jeremy Hunt.
PSR delivers update on progress of New Payments Architecture
The PSR’s future direction on the NPA was outlined in its annual plan and budget for 2023/24.
Virgin Money to shutter 39 bank branches across the UK
The closures, which will take effect in October, will leave Virgin Money with 91 bank branches in the UK.
US healthcare fintech Collectly lands $29m Series A funding
The company will put the funding towards enhancing its software and furthering its market expansion.
ICYMI fintech funding round-up: Anduin, Thunes, Portrait Analytics & more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
FinTech Futures: Top five stories of the week – 21 July 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Filipino fintech start-up Salmon lands $20m debt funding
Salmon says the investment marks the “largest ever” debt financing for a Series A tech company in the Philippines.
The US Federal Reserve launches new instant payments system FedNow
FedNow operates in parallel with the Federal Reserve’s existing payment services, Fedwire and FedACH.
Stanford Federal Credit Union overhauls digital engagement through Agent IQ partnership
The partnership will see Stanford FCU leverage Agent IQ’s digital engagement platform Lynq.
Yazan Hamdan joins Bank of Jordan as new head of digital banking
Hamdan joins the bank from Jordan’s first neobank Blink, where he served as platform lead since December 2021.
US fintech Earnest partners Nova Credit to make international student loans more accessible
The partnership seeks to provide better financing opportunities to foreign-born students in the US.
Lloyds Banking Group customers can now lease a car via mobile app
Lloyds claims it is the first UK bank to launch such an offering, now available to 11 million customers.
ila Bank taps Arab Financial Services for prepaid card offering
The Bahraini denominated card can be used to pay for transactions in both an in-store and online setting.
Banking transformation begins and ends with the customer
Incumbent banks need to adapt and evolve to ensure they’re meeting shifting customer needs.
Car IQ partners Visa to enable in-vehicle payments
Car IQ Pay vehicle wallet enables vehicles to have their own payment accounts to transact directly with merchants.
Alexander Weber departs as CGO of German challenger N26
Weber is departing the position to pursue his own entrepreneurial journey.
UK fintech Suits Me looks to revive face-to-face banking with new digital service
The service’s arrival is a response to the failings of chatbots.
Thieves make away with $20m from Revolut following payment flaw
Flaws in its US and European payment systems meant that some declined transactions were wrongly refunded.
Apple eyes credit card launch in India as partnership with Goldman may be nearing its end
Apple is reportedly exploring a partnership with HDFC Bank in India to roll out a credit card offering.
Mexico’s BanCoppel taps Temenos for core banking overhaul
Utilising Temenos’ core banking platform, BanCoppel aims to scale its operations and offer more banking services.
Humo and Credo Bank to pilot RTGS.global settlement service
The pilots will seek to streamline historically cumbersome cross-border settlement processes.
US fintech Clair lands $25m equity funding to power on-demand pay
The start-up has also secured a $150 million consumer lending program with banking partner Pathward.
UK EMI The Payment Firm set to launch this summer
Services are expected to include cross-border payments, merchant services and card issuance, among others.
Turkish fintech Papara acquires Spanish neobank Rebellion Pay
Papara calls the acquisition a “crucial step” in its European expansion strategy.
Jirnexu co-founders step down from leadership positions at the company
The company’s co-founder Hann Liew confirmed his and Lucas Ooi’s decision this week.
Mascoma Bank implements OnView deposit suite with VSoft partnership
Mascoma Bank will utilise VSoft’s Teller Deposit, Branch Deposit and ATM Deposit solutions.
Orange in exclusive negotiations with BNP Paribas as it looks to exit retail banking market
The move follows a strategic review of Orange’s banking business launched several months ago.
How SaaS and generative AI are positively impacting ‘experience thinking’
SaaS and generative AI are compelling the industry to concentrate on what users see and do.
What the FinTech? | S.4 Episode 10 | Collaboration and transformation
In this episode of the podcast, we speak with Simon Boonen, fintech partnership lead at ING.
ClearScore launches in New Zealand
ClearScore says it will be adding new financial partners in New Zealand over the coming months.
Mastercard and Bankiom to launch virtual prepaid cards across the GCC
With the partnership, Mastercard aims to drive digitalisation in the GCC payments landscape.
India’s Fino Bank taps Hubble to launch spending account
The spending account will be integrated with Fino Bank’s digital savings app, accessible on its mobile app FinoPay.
Japanese challenger Habitto launches mobile app
Founded in late 2021, Habitto has so far raised $7.3 million in funding.
UK budgeting app HyperJar names Louise Chan as COO
Chan joins HyperJar from international paytech firm Ebury, where she also served as COO.
Singapore’s Pepper Group eyes India launch with $150m investment
Pepper Money India will offer personal finance products to consumers and aims to launch second half of 2023.
Video: MSUFCU at FinovateSpring 2023 – Boosting financial inclusion in the US
We chat with MSUFCU’s Ben Maxim about how banks across the US can do more to tackle the wealth gap.
