The future of financial wellness: banks need to do more to support Gen Z in 2024
Gen Z is facing the bleakest financial outlook of any generation for the last century.
Consumer/Personal Finance
Konstantin Zaripov resumes role as managing director of Nebeus after five-year break
Zaripov initially departed the platform in October 2018, after a 15-month tenure as managing director.
Crypto.com lands EMI licence from the UK’s Financial Conduct Authority
Crypto.com says it now plans to roll out a suite of e-money products customised for the UK market.
Italian competition authority interrupts migration of 2.4m Intesa Sanpaolo accounts to Isybank
The watchdog says more than 5,000 of Intesa Sanpaolo’s own customers sought its intervention.
UK fintech Plum signs strategic partnership with Greece’s Eurobank, lands €10m investment
Plum intends to grow its presence in Greece as well as the surrounding region.
New UK fintech start-up Kaldi aims to help millennials and Gen Z save and invest
Through an “easy-to-understand” app, Kaldi hopes to encourage people to start saving and investing earlier.
Apple’s partnership with Goldman Sachs is reportedly nearing its end
Apple has reportedly proposed ending its partnership with Goldman Sachs within the next 12 to 15 months.
State of play: GenAI in financial services
Generative AI is currently in the ‘experimental phase’ in the financial services industry.
ASR Nederland explores sale of digital bank Knab
ASR first acquired the brand in July this year after buying up Aegon’s domestic operations in the Netherlands.
India’s PhonePe reportedly planning to launch consumer lending in January 2024
According to sources, over the next six to seven months, PhonePe plans to launch multiple consumer credit products.
Berkshire Hathaway sells stake in India’s Paytm for $165m
The exit sets Berkshire Hathaway up for a loss of around 40% on its investment.
What the FinTech? | S.4 Episode 22 | Personalisation in digital banking
In this episode of the podcast, we’re joined by Olivier Berthier, CEO of Moneythor.
FCA greenlights Klarna for payment and credit services in the UK
A newly formed entity, Klarna Financial Services UK, will now provide all consumer-facing services in the country.
ICYMI fintech funding round-up: Kiwi, ID Finance, Crezco and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
UAE fintech start-up Dosh Payments gears up for full launch, lands tech licence from ADGM
Claiming to be the Middle East’s first social payments app, Dosh Payments has been building in stealth since 2021.
What the FinTech? | S.4 Episode 21 | Managing chargebacks and payment disputes
In this episode of the podcast, we’re joined by Monica Eaton, founder and CEO of Chargebacks911.
US credit card fintech Petal reportedly eyeing potential sale
According to a report by Fortune, sources say the start-up has received multiple offers for acquisition.
US challenger HMBradley winds down consumer business, eyes B2B space
“Our consumer brand growth was falling short of our goals,” says HMBradley CEO and co-founder Zach Brunke.
UK-Africa remittance start-up Zazuu closes down
Founded in 2018, Zazuu operated a marketplace for cross-border payment networks in Africa.
US lender Enova fined $15m by CFPB for “widespread illegal conduct”
Enova says it has reached an agreement with the CFPB, with the majority of items being self-reported by the firm.
Lack of funding forces US credit card fintech Ness to close down
Having raised $15.5 million in seed funding, the fintech had hoped to raise an additional $40 million but to no avail.
Apple Pay rolls out new open banking feature for UK customers
Apple Pay’s UK customers can access their “most relevant” account information at the time of purchase.
ICYMI fintech funding round-up: Refine Intelligence, Apiture, Solvimon and more
Our weekly fintech round-up for you to get the latest funding news from around the world.
US digital bank Green Dot appoints SVP Dave Harden as new CTO
Harden has served as the bank’s SVP of product development since February 2022.
Regulators approve ex-UK cabinet minister Gavin Williamson’s appointment to Lanistar advisory board
Williamson is expected to be paid in the company’s shares, and will meet its executive committee once a month.
Ireland’s Synch ditches plans to roll out mobile payments app
Synch says “it was no longer feasible to launch its payment app Yippay into the Irish market”.
From VRPs to AI: Innovation takes centre stage at day two of Fintech Talents
Payments innovation and the regulation of AI were hot topics of discussion at this year’s Fintech Talents Festival.
AI, BaaS and identity: Inside day one of the Fintech Talents Festival
Hosted at The Brewery, London, the festival has this year attracted over 2,000 delegates and 400 speakers.
Landsbankinn partners Meniga to launch open banking-powered PIS and AIS services
The bank claims the new services mark a “significant breakthrough in the realm of open banking within Iceland”.
India’s InCred Finance secures unicorn status with $60m Series D funding
The Series D funding round takes InCred Finance’s valuation up to $1.05 billion.
ICYMI fintech funding round-up: EduFi, Performativ, Due and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
FCA calls for “robust frameworks” to detect fraud and support victims
The regulator recently reviewed how firms tackle fraud and handle complaints from customers.
UK challenger Monument Bank completes £40m Series B raise, eyes more funding
Dubai Investments has acquired an additional 7.68% equity stake in the bank.
CFPB targets US fintech firms with proposals for increased regulatory scope
The proposals will target 17 companies who control 88% of the market share.
UK payments app Cardeo to shut down
In an announcement on its website, Cardeo says it failed to secure funding “required to continue as a business”.
Customers, employees, shareholders: the laser focus of successful digital transformations
Incorporating a customer lens in your digital transformation can boost both revenue and employee satisfaction.
PFM downturn continues as Status Money closes down
The company’s website and app with cease to operate from 10 November.
Tandem Bank co-founders team up to launch low-fee wealth management app Prosper
Currently operating as an invite-only service, Prosper is slated for public launch in Q1 2024.
German insurtech Wefox secures $55m debt financing from Deutsche Bank and UniCredit
Wefox plans to boost its global expansion efforts, with a focus on mergers and acquisitions.
Klarna to establish UK holding company in preparation for billion-dollar IPO
Klarna describes the UK holding company as “an important early step on a journey towards an eventual IPO”.
