PayPal to avoid Chinese competition with new cross-border wallet
US giant aims to create a bridge into China with its new service.
Financial Services/Finserv
Square goes on hiring spree ahead of new banking product launches
Square is “building a suite of new financial products”.
Danish neobank Lunar acquires Swedish lender Lendify
The deal, which is pending regulatory approval, is expected to close by mid-May.
MVB Bank snaps up majority stake in Indianapolis fintech Trabian
The value of the stake remains undisclosed.
The meeting about the meeting
One of my favourite things to do is regularly assess whether we can cancel standing meetings.
Welcome Tech raises $35m in Series B funding round
The money will go towards expanding Welcome Tech’s portfolio of financial services.
Nymbus lands $15m fresh investment from Financial Services Capital
Core banking vendor has now landed $31 million from the investor.
Identity verification firm Veriff raises $69m in Series B funding round
Estonian identity firm plans to use cash to expand in the US.
Hospitality payment app Sunday raises record €20m seed round for Europe
The start-up claims to cut the costs for operators to 0.5% per transaction.
Signifyd raises $205m in Series E featuring FIS
Antifraud firm calls 2020 a landmark year in its history.
Hi55 Ventures, NTT DATA, Railsbank and Mastercard team up to reinvent payroll
The Hi card will give employees direct access to money they’ve earned in real-time, free of charge.
Development Bank of Wales picks EQ Credit Services for lending
The bank reports a 72% increase in loan customers since 2020.
Mastercard acquires digital identity firm Ekata in $850m deal
Payments giant to combine Ekata with its own fraud and identity platforms.
Why banks need to embrace the new normal
The banking industry’s definition of normal hasn’t been normal for a majority of customers for years.
Low-code start-up FintechOS lands €51m Series B
The round will fund FintechOS’ international expansion beyond the UK and Europe.
Santander migrates 60% of IT infrastructure to the cloud
Santander is “very well placed against large European banks”, says the bank’s global CTO.
SAP spins out financial services operations in deal with Dediq
SAP launches new FSI Unit to deal in financial services, with a 20% stake in it.
Routable raises $30m in Series B funding to boost B2B payments
Seattle fintech nabs bumper round from a handful of angel investors.
Hana Financial Group completes cloud migration with Oracle
South Korean firm shifts 15 million customer accounts off premises.
Accelerating asset management digitisation with cloud solutions
During this period of uncertainty, AMs have been forced to accelerate their digital transformation projects.
UK challenger Starling lands £50m investment from Goldman Sachs
Starling now claiming to hold a 6% share of the UK SME banking market.
Dutch VC Finch Capital snaps up Wirecard’s APAC assets
The purchases were made through Nomu Pay.
RTGS.global hires industry veteran Dave Sissens as new CEO
The full-service availability of the RTGS.global platform is expected later this year.
The SEC confirms appointment of Gary Gensler as new chair
Gensler joins as the Democrats gain a majority among the commissioners of the US Securities and Exchange Commission.
Lending start-up Fintern raises £32m in equity and debt funding
UK fintech backed by German institution Varengold Bank
Robinhood calls Massachusetts regulator “elitist” for trying to revoke its licence
“The complaint reflects the old way of thinking,” says Robinhood.
SoftBank in talks to turn Indian payments firm Zeta into a unicorn
If finalised, the investment would come through SoftBank Vision Fund 2.
Digital transformation can boost minority homeowners
Digital transformation in the mortgage industry have the potential to reverse decades of bias in home ownership.
Video: Top fintech stories this week – 16 April 2021
To stories from across the fintech world, featuring Coinbase, Pine Labs, Ozon and more.
ICYMI funding round-up: Cardlay, Revix, Numidia, Payable & more
A round-up of the funding you may have missed this week.
Solarisbank among first German fintechs mulling Spac deal
The BaaS provider is aiming for a billion-dollar valuation.
Better.com’s CPO accused of bullying days after $500m SoftBank investment
The CPO joined Better in 2017 from Goldman Sachs.
Kiwi payments start-up Dosh selects Software Group
Dosh is the first local mobile wallet solution in New Zealand.
Pine Labs acquires digital payments start-up Fave in $45m deal
Indian payments firm snaps up Fave to introduce the latter to India.
MUFG wealth management arm deploys InvestCloud in Japan
Vendor says the deal reflects its “substantial investment” in the country.
Coinbase IPO values hits $99.6bn valuation with shares up 52% on debut
Shares closed below $330, up a lesser 32%.
Cuba’s only telco ETECSA granted payment provider licence
The firm can now convert customers’ balances into electronic money.
TSB taps ApTap to help customers manage bills
Deal follows trial period featuring 10,000 TSB customers, who saved an average of £150 a year using the service.
Blockchain firm ConSensys raises $65m from major banks
ConSensys raises cash following company restructure.
Goldman Sachs settles on Birmingham for second major UK office
Goldman says it picked Birmingham because of its talent pool and proximity to London.
