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Financial Results
Save the date: The Banking Tech Awards celebrates its 25th anniversary on 4 December
Nominations for the 25th annual Banking Tech Awards will open this spring.
Citigroup to cut 20,000 jobs over two years after Q4 downturn
The bank is anticipating run rate savings of $2 billion as a result of the cuts.
UK fintech funding fell 63% in 2023, new Tracxn report finds
It is the second year fintech funding has fallen in the UK, down 70% on 2021 figures.
Monese aims to secure fresh funding after recording £30.5m annual loss for 2022
Monese says its services could be “adversely and potentially severely affected” if new funding isn’t found.
UK financial services firms cautious but keen to adopt GenAI, new survey says
The study surveyed 23 members of UK Finance, including banks and non-banking financial services firms.
FCA places embattled Metro Bank on financial crime watchlist as rescue deal continues
Its position on the watchlist was revealed last week via the release of a 217-page dossier outlining a rescue deal for the bank.
FinTech Founders Video: rewind and fast forward
Fintech founders reflect on the past year and ponder how to move forwards.
Four new clients set to go live on Mbanq’s BaaS platform in Q4 as company reports strong growth
Mbanq says it will support the launch of four new digital banking services in the US by the end of the year.
UK sees surge in open banking payments with new monthly high
Open banking payments increased 9.3% between June and July this year.
Adyen shares tank following underwhelming H1 2023 results
The company attributed the performance to hiring costs and US competition.
US crypto exchange Coinbase expands into Canada
The move comes amid major regulatory enhancements for crypto set by the Canadian financial regulator.
Italy’s government to tax banks on profits from interest rate rises
The Italian parliament has 60 days to bring the proposed tax into law.
US fintech Block set to close European payments app Verse
The move is part of Block’s plans to reduce brand spending.
UK challenger Atom Bank records first ever annual operating profit
The bank has seen its customer count jump from around 123,000 during FY22 to 224,000 at present.
B2B fintech Aspire reports profitability
Aspire says its results have set “a new industry standard of sustainable growth”.
Marqeta closes Australia office in bid to cut costs
Marqeta is undertaking “restructuring actions” in Q2 this year to reduce operating expenses.
Paytech titan Diebold Nixdorf set to file for Chapter 11 bankruptcy protection
The Ohio-based firm says the restructuring support agreement is expected to “significantly” reduce debt.
FinTech Futures: Top five stories of the week – 26 May 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
NCR names new chairman and CEO-designates as company separation gathers pace
Joseph Reece joins as chairman of the board with Tim Oliver and David Wilkinson named CEO-designates.
Banking Technology Magazine May 2023 issue out now
Cover story: EVERYTHING, EVERYWHERE… but is all at once the answer?
FinTech Futures: Top five stories of the week – 14 April 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
ClearBank sees income nearly triple to £58m in 2022
UK-based ClearBank is plotting its European expansion and expects to remain profitable through 2023.
Blockchain trade finance firm Marco Polo reportedly enters insolvency
According to The Irish Times, the firm’s liabilities have outstripped its assets by €2.5 million ($2.6m).
US challenger Varo Bank reportedly raising funds at reduced valuation
Fintech Business Weekly reports the firm is raising $50m at a $1.8bn valuation, a 28% decline in value.
FinTech Futures: Top five stories of the week – 3 March 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
BNPL giant Klarna posts £1bn loss for 2022
Despite the loss, the firm says it is edging towards profitability thanks to growth in its gross merchandise volume.
FinTech Futures: Top five stories of the week – 24 February 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Dutch challenger Bunq becomes first EU neobank to report a quarterly profit
Bunq reported a pre-tax profit of €2.3 million over Q4 2022.
Banking Technology Magazine February 2023 issue out now
Cover story: HAPPY DAZE – Banking for cannabis businesses boosted.
Payoneer names former Webster Bank exec Bea Ordonez as next CFO
Ordonez will assume the role of CFO once current CFO Michael Levine steps down in March.
LendingClub to cut 225 jobs as interest rate rises impact loan demand
Company execs say the layoffs are a result of “reduced marketplace revenue” due to interest rate increases.
Goldman Sachs loses $3bn over three years on platform solutions business
Reuters reports the firm outlined a pre-tax loss of $1.2bn for the first nine months of 2022.
Temenos in leadership shake-up as CEO and chairman step down
Under the new leadership, Temenos says it will focus on SaaS opportunities, including in the US.
Coinbase to cut 950 jobs and shut down several projects
Coinbase CEO and co-founder Brian Armstrong says he is “still optimistic about our future and the future of crypto”.
Silvergate reveals depleted deposits, significant layoffs, and impairment charges
Silvergate Capital’s share value dropped by over 40% in response to the financial results.
UK’s ClearBank hits profitability as revenues soar
The firm says it has generated £45.4 million in revenue since the beginning of this year.
FinTech Futures: Top five stories of the week – 21 October 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Temenos cuts 2022 guidance, CRO leaves after just seven months
CRO Erich Gerber, who only joined the company in March, has left the business “effective immediately”.
SaaS financial data platform Canalyst secures $70m Series C investment
Canalyst says it wants to be “the new fundamental dataset of record”.
