July 2024: Top five payments stories of the month
FinTech Futures takes a look back at five of the top payments stories in July.
Digital
Ireland’s Payac taps Nexi for SEPA instant payments solution
Through the partnership, 1.8 million Irish credit union members will gain access to SEPA instant payments.
ING names Daniele Tonella as new CTO
Tonella succeeds Marnix van Stiphout, who has served as interim CTO since last November.
July 2024: Top five new fintech launches of the month
FinTech Futures takes a look back at five of the top new launches in July.
July 2024: Top five movers and shakers stories of the month
FinTech Futures takes a look back at five of the top movers and shakers stories in July.
Coinbase’s CB Payments unit fined £3.5m by FCA
The FCA claims CBPL breached a requirement that prevented it from offering services to “high-risk customers”.
German wealthtech Bunch lands $15.5m Series A
Bunch has now secured a total of $22 million in funding to date.
Building on solid foundations: Writing the next chapter of the UK’s open banking story
The potential for all parties to benefit from open banking is clear, and it’s immense.
July 2024: Top five fintech funding rounds of the month
FinTech Futures takes a look back at five of the top funding rounds to take place over July.
ICYMI fintech funding round-up: Carry, Fragment, Powder, and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Kosovo’s Cash Plus selects Profile Software’s Finuevo Suite for loan process management
Profile says Cash Plus was able to go live with its cloud-based solution in “an extremely short time period”.
The relevance of incumbent cores
As the rate of change accelerates, banks must prioritise adaptability and innovation.
Simona Covaliu appointed new CRO of PayU GPO
Covaliu will lead PayU GPO’s security, compliance, privacy and risk units.
Revolut secures UK banking licence with restrictions, enters mobilisation stage
Revolut has been in pursuit of a UK banking licence since 2021, when it first lodged its application with the PRA.
Social trading app Shares set to exit UK market
Shares plans to close its UK app on 30 August as it looks to “focus on the French and EU markets”.
UniCredit set to acquire Aion Bank and BaaS provider Vodeno for €370 million
The deal includes the entire share capital of both companies and is expected to close in Q4 2024.
Kenya’s Diamond Trust Bank taps Network International for digital payment solutions
The bank will utilise Network International’s platform for debit, credit and prepaid card hosting and processing.
What the FinTech? | S.5 Episode 12 | The emerging technologies driving innovation in payments
In this podcast episode, we chat with George Maddaloni, CTO of Operations at payments giant Mastercard.
The UK risks throwing away its fintech crown as open banking ambition stalls
The cost of allowing fintech to languish in limbo is simply too high.
UK money management app Plum raises £16.1m investment
The investment is comprised of a £13.4 million Series B and a £2.7 million Crowdcube campaign.
Bank of Clarke partners with Greenlight for family money management solution
Bank of Clarke becomes the first Virginia community bank to offer Greenlight’s service.
Egypt’s MNT-Halan raises $157.5 million, plots regional expansion
The international expansion will be aided by both M&As and partnerships.
UK paytech RC365 acquires Money Lenders Licence to provide digital lending services in Hong Kong
RC365 purchased the licence from private investment and advisory firm HC Capital Group for HK 230,000.
UAE’s myZoi launches financially inclusive digital wallet with “one-to-many” transfer capabilities
The digital wallet enables transfers to up to five people for the price of one.
HKMA unveils latest additions to stablecoin issuer sandbox
The new sandbox aims to facilitate the “sustainable and responsible” development of HK’s “stablecoin ecosystem”.
US Federal Reserve fines digital bank Green Dot $44 million over “unfair and deceptive practices”
Green Dot has been anticipating the arrival of the consent order since February.
Cash App to exit UK as Block scales back international expansion plans
Block is currently focused on “growing within the US, not expanding into new markets”.
FinTech Futures: Top five news stories of the week – 19 July 2024
Our pick of the top fintech news stories this week includes HSBC, Stripe, the FCA and more.
What’s next for UK fintech under the new Labour government?
After Labour’s election victory, FinTech Futures explores what the future might hold for UK fintech.
Bank Audi launches new digital bank Neo in Lebanon powered by Codebase Technologies
Neo is powered by UAE-based banking software vendor Codebase Technologies’ Digibanc platform.
Zodia Markets acquires Elwood’s digital asset OTC business for undisclosed sum
Upon completing the deal, ECML will be rebranded as Zodia Markets Jersey Ltd.
Video: Griffin at Money20/20 Europe – From licence to longevity
Griffin CEO David Jarvis discusses the bank’s licensing journey and what’s next in store.
First Global Bank in Jamaica partners Profile Software for digital Finuevo Suite
The partnership is set to equip the bank with new digital onboarding and loan origination facilities.
Lloyds Banking Group terminates five-year agreement with invoice financing fintech Satago
The agreement was initially announced in March 2022 with Lloyds also investing £5 million into the fintech.
Video: Tribe Payments at Money20/20 Europe – Hyper-personalisation in fintech
Tribe Payments’ Lynda Clarke talks big data, hyper-personalisation, and the continued customisation of fintech.
US fintech start-up Estu launches new financial services app for students
The app comprises financial, social and academic functionalities.
Digital challenger Inter promotes SVP Alexandre Riccio to Brazil CEO
Riccio has been tasked with overseeing “an even more intense drive to deliver results”.
Invisible threads: The unassuming tech powering our lives
With technology, success is always built on top of prior innovations and lessons learned.
Blockchain-powered clearing and settlement fintech Partior raises more than $60m in Series B funding
Partior was founded as a joint venture between JP Morgan, DBS Bank and Temasek in 2021.
TBC Bank Uzbekistan lands $38.2m equity investment
TBC UZ claims to be the country’s largest mobile-only bank, boasting a 15 million-strong user base.
