Global Payments names Robert Cortopassi as new president and chief operating officer
Cortopassi previously served as Global Payments’ senior EVP and president of international and vertical markets.
Financial Services/Finserv
NerdWallet to cut workforce by 15% as part of restructuring plan to reduce operating expenses
The job cuts are expected to produce around $30 million in annualised cost savings.
Payoneer acquires payroll start-up Skuad in Singapore for $61m
Payoneer CEO John Caplan says the deal will “accelerate our evolution and B2B momentum”.
Mondu lands new EMI licence to fuel European expansion
Mondu’s co-CEO says it is the first B2B BNPL firm in Europe to be granted its own EMI licence.
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.
Video: Optimising cash deposits with Insignis Cash CCO Kate Eadie
Insignis Cash’s Kate Eadie chats with FinTech Futures about democratising the cash savings market.
DORA the explorer travels light
Things are only going to get faster and more demanding. So travel light, because you need to go far.
CIBC plans to hire for 200 new data and AI roles over the next 12 months
The new hires will be tasked with advancing “resilient and trustworthy AI solutions” across the bank.
US fintech Octane raises $50m Series E funding led by Valar Ventures
The funds will drive Octane’s market expansion and fuel further product development.
UBP snaps up Société Générale’s UK and Swiss private banking subsidiaries in €900m deal
UBP claims the deal will boost its AUM by €26 billion to €186 billion.
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.
Varo Bank inks five-year issuer processing deal with Marqeta
The deal will enable Varo cardholders to add tokenised cards to their digital wallets.
HD Bank launches Vikki Digital Bank in Vietnam powered by Thought Machine’s Vault Core
The new digital-only bank is the result of a joint venture between HD Bank and Galaxy FinX.
Kuwait’s Boubyan Bank taps Temenos to modernise its core banking systems
The bank is migrating to Temenos’ core banking platform for corporate banking, retail, and wealth management.
Houlihan Lokey names Andrew Atherton as new fintech managing director
Atherton previously worked for over eight years at Union Square Advisors.
Savvy Wealth bags $15.5m in Series A-2 funding round led by Canvas Ventures
The latest cash injection brings Savvy’s total funding to over $33 million since its formation in 2021.
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.
Lloyds Banking Group names Rohit Dhawan as new group director of AI and advanced analytics
In this newly created position, Dhawan will oversee Lloyds’ AI Centre of Excellence.
Bilt Rewards elevates valuation to $3.25bn with new $150m investment
This raise follows Bilt’s $200 million funding in January, which valued the company at $3.1 billion.
Bain Capital completes deals to acquire Finova and Iress’ UK mortgages business
Under BCTO’s ownership, the two entities will merge to become a single combined business.
Missouri Central Credit Union taps Bankjoy for account opening and digital banking upgrade
Missouri Central Credit Union currently manages approximately $78 million in assets.
Philippines-based fintech Mynt sees valuation top $5bn with MUFG and Ayala funding
Both MUFG and Ayala Corporation have invested $393 million each in the company.
EPI’s roll-out begins but scheme compliance and dispute resolution questions remain
As the project expands across Europe, the EPI’s new payments solution has a number of areas to consider.
ICYMI fintech funding round-up: Rillet, Aveni, Mamo, Payflow, and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
BNP Paribas enters exclusive talks to buy AXA Investment Managers for €5.4bn
AXA says the proposed deal will “create a leading European asset manager” with total AUM of €1.5 trillion.
FinTech Futures: Top five news stories of the week – 2 August 2024
Our pick of the top fintech news stories this week includes Renasant Corporation, Stripe, ING and more.
Demystify Podcast: Demystifying Careem’s everything app with Abhishek Tripathi of Careem Pay
In this podcast episode, Dave and Dharm chat with Abhishek Tripathi, Head of Product at Careem Pay.
Bitpanda selects Solaris KYC solution for onboarding in Germany
Bankident will “enable our customers to start trading within minutes”, says Bitpanda’s Maik Brodowski.
Texas-based TransPecos Banks selects Oscilar’s risk management tech for BaaS compliance
Oscilar has been tapped by the bank for its AI-driven AML Risk Platform solution.
Is it time for banks to turn and face the change?
As society evolves, traditional banks must adapt, or else they face an inevitable demise.
Wells Fargo names BNY’s Bridget Engle as new head of technology
It has also been announced that Wells Fargo CIO Tracy Kerrins will lead consumer technology and a new AI unit.
Qonto receives order from Banca d’Italia to improve AML measures in its Italian subsidiary
The firm says the order includes a temporary ban on onboarding new customers in Italy.
Bank of England launches discussion paper on “ambitious agenda” for UK’s payments landscape
The public have until 31 October 2024 to submit feedback on the paper.
The remaining 90%
In a place where everyone says only a fraction of what they mean, speaking your mind makes you scary.
July 2024: Top five AI stories of the month
FinTech Futures takes a look back at five of the top AI stories from July.
German American Bancorp and Heartland BancCorp to merge in $330m deal
The new combined entity will reportedly boast over $8.1 billion in assets under management.
Ireland’s An Post joins forces with Safecypher to combat CNP payment fraud
Safecypher’s tech tackles CNP fraud by enhancing CVV protection for card payments.
July 2024: Top five payments stories of the month
FinTech Futures takes a look back at five of the top payments stories in July.
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.
