CFPB finalises rule to supervise big tech firms offering digital payment apps
The development cements proposals first put forward by the regulator in November last year.
Digital
Finova launches Finova Broker for the UK intermediary sector
Finova Broker builds on the Mortgage Keeper CRM solution, provided by Finova’s business formerly known as eKeeper.
Demystifying quantum computing
How do quantum computers work? How are they programmed? What do they look like and where can you find them?
Close Brothers Asset Management goes live with Objectway’s portfolio management solution
Objectway says its tech will enable CBAM to “tailor and adapt services as client needs evolve”.
CaixaBank plans to invest €5bn in technology over the next three years
As part of its strategy, CaixaBank plans to recruit 3,000 young professionals by 2027.
Central Bank of Brazil to pilot CBDC trade finance solution with Chainlink, Microsoft, 7COMm and Banco Inter
The solution will be based on Chainlink’s cross-chain interoperability protocol.
State of play: payment hubs
Payment hubs are increasingly seen as an attractive solution to manage the new world of payments.
Nationwide taps HPE GreenLake for private cloud deployment
The migration of its on-premises IT estate is expected to cut Nationwide’s IT operating costs by 30%.
Beacon unveils new digital wallet offering built for immigrants to Canada
Beacon’s new service will support bill payments, salary deposits, Interac e-Transfers, and more.
Mexican fintech Minu bags $30m Series B funding
Minu has now raised $47 million in total funding to date.
What the FinTech? | S.5 Episode 21 | Taking open banking payments mainstream
In this podcast episode, GoCardless’ Paul Foster discusses the growing adoption of open banking payments.
Market Harborough Building Society launches financial education app with Doshi
The building society has used Doshi’s white-label app to launch the new offering.
Robinhood snaps up custodial and portfolio management platform TradePMR in $300m deal
The purchase, involving a blend of cash and stock, is set to close in H1 2025.
Powering a new era of digital transformation with Huawei at GITEX Global 2024
Huawei showcased its latest innovations in financial technology at GITEX Global 2024.
Navro secures FMSB registration to provide money transfer services to businesses in Canada
Navro (formerly known as Paytrix) has also secured licences in the UK and Ireland (EU) this year.
Modulr buys AP automation platform Nook, plans to launch Modulr AP solution in early 2025
Modulr AP, powered by Nook, is described as an “end-to-end solution for invoice management and AP automation”.
Mexico’s Albo partners Paymentology to expand digital payment services
Albo plans to launch a new initiative with Mastercard to boost digital payments in Mexico.
CommonWealth Central Credit Union taps Jack Henry for tech upgrade
The $632 million-asset credit union is set to launch new products with Jack Henry’s core platform.
Revolut granted UK trading licence from FCA
Revolut now plans to launch new trading products covering UK and EU stocks and ETFs.
Goldman Sachs to spin out technology platform GS DAP into independent business
GS DAP has operated as part of Goldman Sachs’ Digital Assets business since launching in 2022.
PayTech Awards 2025 now open for entries
Nominations for the PayTech Awards 2025 are now open, with the deadline for entries set for 14 March.
Celero Commerce snaps up Precision Payments for undisclosed sum
Celero expects its North American card processing volume to exceed $28 billion following the acquisition.
Network International inks referral agreement with NBF for corporate omnichannel payment solutions
The deal will enable National Bank of Fujairah to offer Network’s digital payment solutions to its corporate clients.
Cartoon: Wanderer above the sea of fog
This new cartoon illustrates how regulatory changes and the complexity of compliance stymies new entrant fintechs.
Vietnam’s Maritime Commercial Joint Stock Bank partners Backbase for Engagement Banking platform
MSB is Vietnam’s first joint-stock commercial bank and currently serves 5.5 million customers.
Crypto.com buys Australian brokerage service and trading company Fintek Securities
Crypto.com also recently acquired Watchdog Capital to offer equities and equity options for traders in the US.
Demystify Podcast: Demystifying legacy modernisation with Irene Sandler, CMO of Mechanical Orchard
In this podcast episode, Dave and Dharm chat with Irene Sandler, CMO of Mechanical Orchard.
Morgan Stanley makes $20m investment in NovoPayment to fuel product and commercial growth
The funding follows NovoPayment’s $19 million Series A round in 2022.
Myanmar’s Wave Money taps Amdocs for Digital Financial Services platform
Wave Money’s WavePay digital wallet currently has over 11.5 million users.
ICYMI fintech funding round-up: Mutual Vision, Tako, Zeplyn, Tranched, and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
FinTech Futures: Top five news stories of the week – 15 November 2024
Our pick of the top fintech news stories this week includes Klarna, Ualá, Visa and more.
Gate City Bank goes live with Alkami’s full suite of digital banking solutions
The selection includes Positive Pay for ACH reporting and new account opening capabilities.
Brian Harkin named new head of tech and innovation at Centrus
Harkin moves from London-based fintech Kynec, where he has been serving as CTO since 2022.
Guide: Charting the course – understanding payment trends in the financial sector in 2024
Insights from extensive research on how UK consumers prefer to pay and the payment options currently offered by 200 financial services providers.
Bank of Valletta taps Profile Software for investment management solution
Malta’s largest and oldest fiancial institution will deploy Profile Software’s Axia Suite.
Video: Experian at Money20/20 USA 2024 – Combining GenAI and rich data to drive innovation
Experian’s Scott Brown discusses how the company is utilising GenAI to deliver innovative new solutions.
Jeremy Nicholds steps down as CEO of UK paytech Judopay
Judopay was acquired by Italian banking group Banca Sella’s open finance subsidiary, Fabrick, last year.
Argentinian fintech Ualá lands $300m Series E funding round at $2.75bn valuation
The company claims that its app now has 8 million users across Argentina, Colombia, and Mexico.
LSEG taps IDVerse for AI-powered ID verification solutions
LSEG will deploy IDVerse’s Zero Bias AI offering alongside its Deepfake Defender AI solution.
Canadian fintech Neo Financial raises $258m in mix of equity and debt funding
The round comprised $78.9 million in equity and $179.3 million in debt.
