United Bank in Alabama taps Jack Henry for digital upgrade
The bank is to adopt the vendor’s LoanVantage solution and Banno Digital Platform.
Corporate & Commercial Banking
Alisa Bank snaps up invoice financing fintech Puro Finance to bolster SME services
Puro Finance is expected to operate as a subsidiary of the bank upon closure of the deal in May.
UBS and SuMi Trust joint venture to acquire Credit Suisse wealth management business in Japan
The JV will absorb Credit Suisse’s Japanese advisor base and wealth management assets.
Busey Bank launches commercial credit cards with Corserv
The bank is delivering the cards using Corserv’s account issuer programme.
UAE’s Zand Bank taps Infosys Finacle to bolster its corporate banking capabilities
Zand’s CEO claims the move will enable “seamless deployment of digital assets, AI, and blockchain technologies.”
MAS unveils new Cosmic platform to help banks defend against terrorism financing and money laundering
Cosmic was co-developed by MAS and six banks – Citibank, DBS, HSBC, OCBC, UOB, and Standard Chartered.
Mutual Trust Bank in Bangladesh partners IDEX Biometrics for new payment card security feature
The bank has tapped its partner’s IDEX Pay solution to install fingerprint sensors into its physical card offering.
Former Goldman Sachs director Swati Bhatia joins Santander Bank as head of retail banking and transformation
Bhatia counts the likes of Stripe, PayPal and Capital One among her previous employers.
Anext Bank in Singapore reportedly receives another $148m investment from parent company Ant Group
DealStreetAsia reports that Ant Group has now invested over $500 million in total in Anext Bank.
Tide names former SVP George Schmidt as new regional CEO for UK and Europe
Schmidt will be responsible for leading Tide’s recently announced expansion into the German market.
Redwood Bank names David Kennedy as new chief operating officer
Kennedy has previously held leadership positions at Lloyds, Barclays, Shawbrook Bank and Masthaven Bank.
British Business Bank launches new £660m Northern Powerhouse Investment Fund II
Over £1bn of investment has been facilitated to businesses since the launch of the first NPIF in 2017.
Finalists announced for Banking Tech Awards USA 2024
Winners of this year’s awards will be announced at a gala dinner ceremony in New York on 30 May.
Payment security and fraud prevention take centre stage at this year’s Pay360 conference
Concepts concerning the safety and efficiency of payments proved central to the conference’s agenda.
Cloud banking tech provider nCino acquires DocFox to streamline account opening
DocFox provides account opening software built to help simplify the customer onboarding process.
JP Morgan Chase hit with $348m in fines related to its trade surveillance programme
The fines were issued by the the Office of the Comptroller of the Currency and the US Federal Reserve.
Anna Money acquires Aussie business spend management fintech GetCape
With the deal, Anna Money says it plans to introduce a “smart business current account and debit card”.
State Bank of India taps Aurionpro for iCashpro+ solution
The solution will replace SBI’s current CMP platform and will be implemented over the next 12 months.
Qonto snaps up finance automation start-up Regate to bolster accounting services
The acquisition will enable Paris-based Qonto to expand its offering to accounting firms.
Société Générale deploys iGTB’s Corporate Treasury eXchange solution
The French bank plans to leverage CTX’s real-time liquidity management capabilities.
Avenue Bank lands full banking licence from Australian Prudential Regulation Authority
The approval comes less than three years after the bank was first awarded a restricted banking licence.
ABN Amro partners Dutch paytech Buckaroo for merchant payment services
Utrecht-based PSP Buckaroo will assume management of the bank’s debit card acquiring contracts.
Citi names former JP Morgan exec Viswas Raghavan as new head of banking
Raghavan is due to take charge of the group’s investment, corporate and commercial banking unit.
Crédit Agricole CIB taps Demica to launch new receivables and supply chain platform for APAC
Crédit Agricole CIB hopes the platform will appease “the increasing demand for supply chain finance” in APAC.
Case study: Italy’s Credem Banca migrates to ASEE Security Cloud
Learn how Italy’s major banking group Credem migrated all its clients to the ASEE Security Cloud.
FHLBank of Pittsburgh selects SimCorp Dimension for investment management
The bank has signed an eight-year agreement with the vendor for SimCorp Dimension.
Capital One acquires Discover Financial Services in $35bn deal
The transaction brings together two of the largest card issuers in the US.
Joy Cheng named as new head of Citi Commercial Bank in Hong Kong
Cheng first joined Citi back in 1993, and has since risen through the ranks of its corporate banking division.
Nigerian bank Carbon acquires Vella Finance, launches new AI banking platform for SMEs
The platform will enable Nigerian businesses to access loans and AI-powered transactional insights.
SME banking tech start-up Finom lands €50m Series B to power product expansion
The Amsterdam-based start-up has now raised over €100 million to date.
US-based Primary Bank appoints Crystal Dionne as new CEO
Dionne first joined the bank eight years ago and has spent the last six years as its CFO.
HSBC is on an AI hiring spree with call for three new executives
The job openings are within HSBC’s digital business services unit and ventures, innovation and partnerships team.
Deadline extended for Banking Tech Awards USA nominations
You now have until Friday 23 February to get your nominations in.
Germany’s Commerzbank taps Surecomp to revamp trade finance back office
The Frankfurt-based commercial bank has adopted the vendor’s DOKA-NG solution.
RBC’s US subsidiary City National Bank hit with $65m fine from OCC
The OCC says the fine relates to “systemic deficiencies” in the bank’s risk management and internal controls.
Commercial Bank of Kuwait to upgrade its payment systems with new Network International partnership
CBK projects that the collaboration will “significantly enhance” its payment operations and continued shift to digital.
Deutsche Bank to cut 3,500 roles over two years amid €2.5bn savings drive
The German investment bank says the cuts will mainly apply to “non-client-facing areas”.
Emirates NBD partners Silent Eight to bolster compliance operations
The banking group says the partnership will enhance its compliance efficiency.
B2B finance automation platform Ramp acquires Venue to revamp procurement product
The value of the Venue acquisition has not been disclosed.
Southern California Bancorp and California BanCorp trigger $233.6m “true merger of equals”
The holding companies currently control Bank of Southern California and California Bank of Commerce.
