India’s Yes Bank draws on Zaggle to launch credit cards with spend management capabilities
The Yes Bank Zaggle corporate credit card seeks to enable businesses to tap operation efficiencies.
Corporate & Commercial Banking
FinTech Futures: Top five stories of the week – 25 August 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Citi debuts first LatAm fintech investment with stake in Peruvian FX platform Rextie
Rextie becomes Latin America’s first FX fintech to receive an investment from Citi.
Silicon Valley Bank makes two senior appointments to lead payment products and digital strategy
Martin Murrell has been named as head of global payments and Milton Santiago as head of global digital solutions.
EIF provides Lithuania’s SME Finance with €40m to fund small business lending
SME Finance CEO says the agreement with EIF allows it to offer financing to businesses “on significantly better terms”.
Morgan Stanley hit with £5.41m fine after energy traders used WhatsApp to discuss market transactions
It is the first-ever electronic communication fine issued in Great Britain relating to trading energy products.
Colendi lands banking licence to become Turkey’s first digital deposit bank
As Turkey’s first digital bank, ColendiBank is aiming to reach 50 million customers regionally.
UK’s Financial Conduct Authority to step up protections for cash access
In the UK, 3.1 million adults use cash to pay “for everything or most things”.
AI-powered conversational payments to launch on India’s UPI
The tech will enable users to converse with an AI system to initiate and complete transactions.
Peoples Bank taps Corserv to launch credit card programme
With Corserv, Peoples Bank will be able to offer 14 different credit card products to its business and retail customers.
FinTech Futures: Top five stories of the week – 18 August 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Points West Community Bank taps Apiture for digital banking upgrade
The bank says it wanted to enhance its digital banking solutions following more customers wanting to go digital.
Splitit plans to go private for stringent $60m capital commitment
Part of the commitment requires the US BNPL vendor to redomicile to the Cayman Islands.
DLocal appoints Pedro Arnt as co-CEO amid reports the firm is exploring a potential sale
Arnt is to join current CEO Sebastián Kanovich to lead the firm’s future endeavours.
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.
Tasi Bank taps Green Check to cultivate its cannabis banking capabilities
The partnership enables the “maverick” community bank to expand its cannabis clientele across California.
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.
Starling Bank plans to take its BaaS platform Engine to APAC
CNBC reports that the challenger is in talks to deploy Engine with an undisclosed Asian bank.
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.
Torpago confirms two new senior hires following “significant growth”
James Yacobucci has been appointed to head of bank partnerships and Noah Martin to head of capital markets.
Vijay Shekhar Sharma buys 10% stake in Paytm worth $628m from Antfin
Sharma’s shareholdings in Paytm will increase to 19.42%, while Antfin’s shareholdings are reduced to 13.5%.
Banking veteran Paco Ybarra to depart Citigroup after 36 years
He has served as CEO of Citigroup’s institutional clients group since 2019 having joined the firm in 1987.
First Federal Savings & Loan of San Rafael boosts digital transformation with Bankjoy partnership
First Federal will integrate Bankjoy’s digital banking platform with Fiserv Cleartouch, its core banking system.
What the FinTech? | S.4 Episode 12 | Business banking and the UK’s ‘missing middle’
In this episode of the podcast, we’re joined by Rajesh Gupta, CFO of UK business bank OakNorth.
Nexi buys 30% stake in German PSP Computop
Computop’s founders, Frank Arnoldt and Ralf Gladis, previously held 50% of the company’s shares each.
Machias Savings Bank taps Jack Henry for tech overhaul
It wanted a tech strategy that would help it support customers’ financial needs, while competing with big banks.
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.
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.
Allfunds acquires local paying agent business of Iccrea Banca
The acquisition enables Allfunds to develop its position in Italy as a local paying agent business.
Vanquis Banking Group buys UK smart money app Snoop
Snoop leverages AI and open banking technology to provide personalised overviews of spending habits.
ING names Görkem Köseoğlu as new chief technology officer
Görkem Köseoğlu is to assume the position of chief technology officer from 1 September 2023.
Trintech snaps up Fiserv’s financial reconciliation business
Trintech hopes the deal will “act as a springboard for innovation” for its accounting automation platform.
Episode Six names former HSBC exec as new chief revenue officer
Brian Muse-McKenney becomes Episode Six’s first CRO.
Settle secures $145m credit facility from Silicon Valley Bank
Settle will use the expanded facility to boost its lending to e-commerce and consumer brands.
GAT Investment Bank taps Currencycloud for new app launch
The app will leverage Currencycloud’s multi-currency virtual accounts for cross-border payment services.
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”.
UBS to pay $388m in fines relating to Credit Suisse’s doomed dealings with Archegos
The US Federal Reserve has fined Credit Suisse $269 million, with the UK’s PRA issuing a further $119 million fine.
Vietnam’s OCB taps Backbase for personalised digital banking solution
The project implementation will be led by Backbase’s partner SmartOSC.
Banco Santander, BBVA and CaixaBank team up to tackle fraud with FrauDfense
FrauDfense is a new company set up to enable the exchange of information between the three banks.
