Sibos 2024: Real-time payments in focus with ACI Worldwide – video interview
Dive deep into the latest developments in real-time payments from across the globe with ACI Worldwide.
Financial Inclusion
US fintech start-up CapWay shuts down
Founder Sheena Allen announced on LinkedIn that the start-up “is no longer an active business”.
Philadelphia’s Citadel Federal Credit Union agrees to pay $6.5m to settle allegations of redlining
This settlement is the DOJ’s first redlining resolution with a credit union.
FinVolution expands into Pakistan with Daira launch
Daira is a new lending platform offering low-interest, flexible loans for customers in Pakistan.
Best Egg lands $500m purchase facility to expand personal loan product
The purchase facility builds on the company’s $225 million Series E round completed in March 2022.
ESAF Small Finance Bank replaces FIS’ Profile with Oracle Flexcube as new banking core
ESAF’s implementation of Flexcube has been underway since August.
TSB Bank fined £10.9m by FCA over handling of customers facing financial difficulty
The fine follows an independent review commissioned by the FCA in July 2020.
Italy’s Banca Sella becomes first European bank to launch QR code for the visually impaired
Banca Sella to implement TQ Braille, Arti Grafiche Parini’s tactile identification solution.
Banking Technology Magazine October 2024 issue out now
Cover story: QUANTUM LEAP OF FAITH – Preparing for the advent of Q-Day.
JP Morgan to bolster community presence with planned hiring spree in US
Chase intends to use the hires to maintain community-level support across 48 of the 50 US states.
Ex-TNEX chief Bryan Carroll heads new Credit-Decisioning-as-a-Service start-up SMEApprove
The platform seeks to assist banks in lending to underserved SME clients across emerging markets.
BNKA launches new payments function for LATAM migrants in Europe
BNKA is enabling migrants in Europe to pay bills in Argentina.
September 2024: Top five new launches of the month
FinTech Futures takes a look back at five of the top new product launches in September.
Scienaptic AI co-founder steps down to launch new venture, Algebrik AI
Algebrik AI, a new loan origination system, will commence deployments in Spring 2025.
Wealthtech start-up for women Propelle launches in the UK
Propelle has secured over £1.2 million in pre-seed funding to date.
The programmable money promise: potential advantages and opportunities at stake
Programmable money is a revolutionary concept poised to enhance monetary and financial systems.
UK wealth manager Quilter buys NuWealth to boost first-time investor support
Quilter will work to integrate NuWealth’s capabilities into its advisory business.
Ex-TSB chief Paul Pester joins UK wealthtech start-up Firenze as chair
Launched in January, Firenze seeks to democratise access to Lombard lending.
Brazil’s Parabank partners Dock to launch inclusive card programme for people with disabilities
The São Paulo-based challenger has adopted Dock’s private-label card processing platform.
Zambian fintech Lupiya partners Network International for debit card programme
The fintech is leveraging Network’s “comprehensive suite of card payment processing solutions”.
Building a community from data
Behind every transaction is a human story, waiting for us to connect the dots.
India’s FlexiLoans bags $34.5m Series C for lending platform expansion
The platform has now raised $76.6 million in equity and over $240.9 million in debt to date.
Fneek launches in France to “formalise friendly loans”
Founded by CEO Chaker Boughanbouz, the start-up is now seeking seed funding.
Ghana’s Fido raises $30 million in debt and equity to extend AI-powered lending services across Africa
The fintech will use the funding to expand its reach and product offering.
Home equity fintech Unlock bags $30m Series B funding
The start-up has also secured a $250 million capital commitment from D2 to support its origination growth.
PayPal Ventures leads $15m Series A for Brazilian fintech Ume
The Sao Paulo-based credit platform has also secured a $20 million debt financing facility.
SME-focused digital lender Validus lands $50m debt facility from HSBC
The facility will be deployed through Validus’ Indonesian subsidiary Batumbu.
Crown Agents Bank partners Visa to power cross-border payments in emerging markets
CAB is integrating its FX network into the Visa Direct system via API.
Migrant-focused fintech Comun lands $21.5m Series A
The funds add to the $4.5 million seed round Comun raised in December.
RBI set to launch United Lending Interface to simplify access to credit for underserved borrowers
RBI governor Shri Shaktikanta Das says the ULI will launch “in due course”.
India’s DMI Finance lands a further $334m investment from MUFG
The new capital injection brings MUFG’s total investment in DMI Finance to $565 million.
Advans Pakistan Microfinance Bank in core banking tech overhaul with AutoSoft Dynamics
Advans Pakistan is implementing the AutoBanker core banking system from AutoSoft Dynamics.
UAE fintech Yuze bags $30m funding to propel expansion into new markets
Yuze offers a digital financial services platform built to help simplify financial management for SMEs.
Ohio’s first female-led bank Fortuna nears launch after raising $20.7m
Fortuna is aiming to soft launch in fall 2024.
UK start-up Sync Savings to make market debut next month
Digital bank Griffin has been revealed as the start-up’s first partner bank.
India’s Vayana secures $20.5m in Series D funding
The funds will be used to enhance Vayana’s risk management and compliance platforms.
Sendsprint acquires Nobel Financial to expand remittance services in the US
Scott McClain, Nobel Financial’s chief compliance officer, will also join Sendsprint in the same role.
Mexico’s Stori lands $212m in mix of equity and debt financing
In addition, Stori has appointed Diego Cabrera Canay, ex-CFO of dLocal, as its new group CFO.
Vantage West Credit Union introduces HUSTL, a new digital banking start-up for freelancers
HUSTL offers high-yield savings, interest-earning checking accounts, and certificates of deposit.
Native American-focused neobank Totem set to close down
The neobank claims to have accumulated over 500 customers since launching its app in 2023.
