Invisible threads: The unassuming tech powering our lives
With technology, success is always built on top of prior innovations and lessons learned.
Financial Services/Finserv
Bux sells UK subsidiary Bux Financial Services Limited to UAE’s Asseta Holding
The company says the sale of BFS is a “subsequent step in the divestment strategy of Bux Holding”.
Mexican fintech start-up OCN lands $86m Series A funding round to drive international expansion
OCN provides gig workers in Latin America and the US access to capital for car rentals.
FCA announces “biggest changes” to the UK’s listing regime “in over three decades”
The new rules aim to “support a wider range of companies to issue their shares on a UK exchange”.
BNP Paribas partners Ant International to enhance cross-border payment solutions in Europe
The pair will also work to “explore innovations in tokenised deposits for global treasury management”.
Covering the exposed: The effects of the FCA’s PEP review on financial compliance
The FCA is set to publish its review of the treatment of politically exposed persons (PEPs) this month.
Argentinian fintech start-up Tapi bags $22m Series A led by Kaszek
The funding round also saw participation from Californian VC Andreessen Horowitz.
US regulators fine Citigroup $136m for “insufficient progress” towards compliance with 2020 consent order
The OCC and the Federal Reserve Board have fined Citigroup $75 million and $60.6 million, respectively.
Blockchain-powered clearing and settlement fintech Partior raises more than $60m in Series B funding
Partior was founded as a joint venture between JP Morgan, DBS Bank and Temasek in 2021.
TBC Bank Uzbekistan lands $38.2m equity investment
TBC UZ claims to be the country’s largest mobile-only bank, boasting a 15 million-strong user base.
Diamond Credit Union partners Tyfone for nFinia digital banking platform
Diamond was a longstanding client of Cubus Solutions, which Tyfone acquired in 2023.
Cartoon: Relief
The survivors from the ‘mass start-up extinction’ event might still not be ready to invest for growth.
Banking Technology Magazine July / August 2024 issue out now
Cover story: MONEY TALKS – Cash still playing an important role in society.
ICYMI fintech funding round-up: Lemon.markets, Trustap, Adfin, Accend and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Intuit to cut 10% of workforce amid plans to boost investment in “key growth areas” such as AI
Intuit plans to hire 1,800 new workers to support the firm’s aim to capitalise on the “AI revolution”.
FinTech Futures: Top five news stories of the week – 12 July 2024
Our pick of the top fintech news stories this week includes Envestnet, Dosh, Innovate Finance and more.
Bain Capital to acquire US fintech Envestnet in $4.5bn deal
Reverence Capital is also participating in the transaction, alongside a consortium of additional investors.
Skipify names former Airbnb Payments chief Sam Shrauger as new COO
Shrauger previously served as CEO and chairman of Airbnb’s US payments arm for over four years.
If it’s legacy, fix it now
Every bank must at least be investigating the art of the possible with new technology for core banking.
Nala bags $40m Series A to scale remittance services
Part of the funds have been earmarked to build Nala’s B2B payments platform, Rafiki.
America First Credit Union taps Loquat for small business onboarding solution
The credit union will apply Loquat for digital account opening, payments, reporting and virtual cards.
Your boss can’t hear you
The reality is your CEO is mostly talking to risk and finance. And arguably, that is as it should be.
Global fintech investment fell by 19% in H1 2024, according to new Innovate Finance report
Total investment in fintechs worldwide amounted to $15.9bn in H1 2024, compared to $19.5bn in H2 2023.
Dosh seeks licence to become a bank in New Zealand
Dosh is aiming to become New Zealand’s “first locally-owned, digital-only bank”.
Canoe Intelligence bags $36m Series C led by Goldman Sachs
The latest funding adds to the firm’s $25 million Series B round in 2023.
Outpayce selects Mambu to power new multi-currency digital wallet service
The Mambu implementation is underway, with plans to go live “in the coming months”.
What the FinTech? | S.5 Episode 11 | Banking Tech Awards 25th anniversary special with Monument
In this podcast episode, we chat with Sudip Dasgupta, CTO at Monument Bank and Banking Tech Awards judge.
UAE’s Mashreq Bank appoints Tushar Vikram as new India head
Vikram previously served as Citibank India’s head of commercial banking for over nine years.
Bain Capital reportedly closing in on deal to acquire Envestnet
The potential deal could be announced as early as this week, according to a report by Reuters.
First Federal Bank of Kansas selects Jack Henry for core processing solution
FFBKC aims to leverage Jack Henry’s tech to extend its services to SMBs.
Spanish wealthtech Allfunds names two new senior executives
Paola Rengifo and Miguel Ángel Treceño are the latest additions to Allfunds’ leadership team.
Thailand’s SCB taps Sunline for core banking upgrade
SCB says the partnership will enhance its financial transaction processing performance for deposits and loans.
Netevia secures up to $120m in debt financing from WhiteHorse Capital
The fintech plans to use the funds to “complete key acquisitions” and “rollout new products”.
Stephen Bowe named Paymentology’s new chief product officer
Rowe brings more than 15 years of experience in the banking and payments sector to the role.
Shock absorbers: how to prepare effectively for external volatility
How can organisations protect themselves from external shocks that nobody can predict?
ICYMI fintech funding round-up: Bling, CreditLogic, FreeBnk and Currensea
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Germany’s Mitgo Group to inject $20m into its new fintech division Capy
The $20 million “investment package” is to be spread over the “coming 3 years”.
Fintel snaps up Threesixty from Abrdn in £14.6m deal
Threesixty will remain an independent business, maintaining its own offerings and pricing in the market.
Join us as a judge for PayTech Awards USA 2024!
The prestigious PayTech Awards USA 2024 has a limited number of seats on the judging panel available.
FinTech Founders Video: Lessons from Finovate – shaping your fintech showcase approach
Four fintech founders share their key advice for companies looking to showcase their products at conferences.
