Canapi Ventures reveals new $750m fund to support US fintech entrepreneurs
The VC firm says the latest fund takes its total assets under management to over $1.4 billion.
Financial Services/Finserv
Report: Trends in technology for the wealth management community
Delving into the wealth management industry issues, competing priorities, budget, expertise and culture – now and in the future.
Elemi Bank applies to FDIC and seeks $25m in capital to launch corporate offering
The bank is expected to establish itself as a state-chartered, corporate bank with a B2B offering.
US OCC highlights key risks to federal banking system in latest report
The report also covers the current market, credit and compliance risks being faced by FIs.
Cartoon: Gravity
A new cartoon illustrating Apple’s growing impact on the financial services industry.
Building a world for the 99%
We have the technology to create a more supportive ecosystem for millions of SMEs worldwide.
CSI names financial services veteran Troy Bradley as new CTO
Bradley brings more than 35 years of experience leading product and technology teams across banking and payments.
UK’s FCA proposes new rules to protect access to cash
The regulator says designated banks and building societies need to assess the gaps in access to cash.
UK regulators issue joint proposals to tackle risk of financial instability posed by CTP dependency
The regulators are accepting feedback and expect to publish final requirements by H2 2024.
ICYMI fintech funding round-up: January, Spade, Keyless and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
FinTech Futures: Top five stories of the week – 8 December 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Funding Circle appoints Coconut co-founder Adam Goodall as VP of product
Goodall joins Funding Circle from Coconut, a UK-based bookkeeping start-up he co-founded in 2016.
US fintech Pontera secures $60m in fresh funding round led by new investor Iconiq Growth
This latest investment brings Pontera’s total funding to date to $160 million.
The perspective on AI from Abu Dhabi Finance Week 2023
I truly believe that 2024 is the year that GenAI goes from talk to action.
Germany’s Scalable Capital secures $65m in Series E extension
The raise follows on from the company’s $180 million Series E round in June 2021.
Canadian fintech Koho bags $63m funding at unchanged valuation
Founded in 2014, the Toronto-based fintech offers a full-service spending and savings account.
Coventry Building Society reportedly eyeing Co-operative Bank takeover
Sky News reports that if the deal goes through, the combined entities will manage nearly £90bn in assets.
Liberis bags $112m in debt financing to fuel expansion in North America and Europe
Liberis plans to go live in Canada, Germany and Poland in 2024.
Bravura Solutions appoints APAC and EMEA CEOs as part of new leadership structure
The company has promoted Paul Dunn to CEO, APAC and Chris Spencer to CEO, EMEA.
German wealthtech Trade Republic lands full EU banking licence from the ECB
The new licence means the firm can now offer essential banking services such as deposits and lending.
And sometimes… less is just less
Doing more with less often reaches a point where it is no longer possible.
Canadian regulator fines RBC $5.5m for “administrative violations” of its AML rules
FINTRAC says it uncovered three administrative violations by RBC during an examination last year.
Indian BNPL fintech ZestMoney is reportedly closing down
ZestMoney’s leadership team has reportedly informed employees of its decision to wind down by the end of the month.
Trading Technologies names former Broadridge exec Justin Llewellyn-Jones as new COO
Llewellyn-Jones was previously chief product officer, capital markets at Broadridge.
Demystify Podcast: Demystifying BaaS banking with NatWest Boxed
Demystifying what is holding BaaS back from broader adoption and what it takes to create a successful BaaS venture.
Allica Bank partners Wise Platform for cross-border payment solution
The partnership will enable Allica’s business customers to make “transparent and low-cost” international payments.
The future of financial wellness: banks need to do more to support Gen Z in 2024
Gen Z is facing the bleakest financial outlook of any generation for the last century.
IDB Invest and IFC team up to launch the Amazon Finance Network
The global network aims to boost the economic development of the Amazon region.
Monzo co-founder Jonas Templestein departs after nine years
Templestein shared a letter he sent to his co-workers announcing his departure last week.
John O’Beirne takes the reins as executive director of Square’s Europe operations
O’Beirne joins from Bank of Ireland, where he spent almost 20 years in various senior roles.
Credit Union 1 migrates core to Jack Henry’s Symitar platform
Jack Henry says its open banking infrastructure was the decisive factor for CU1 to migrate its core.
Konstantin Zaripov resumes role as managing director of Nebeus after five-year break
Zaripov initially departed the platform in October 2018, after a 15-month tenure as managing director.
Crypto.com lands EMI licence from the UK’s Financial Conduct Authority
Crypto.com says it now plans to roll out a suite of e-money products customised for the UK market.
Italian competition authority interrupts migration of 2.4m Intesa Sanpaolo accounts to Isybank
The watchdog says more than 5,000 of Intesa Sanpaolo’s own customers sought its intervention.
UK fintech Plum signs strategic partnership with Greece’s Eurobank, lands €10m investment
Plum intends to grow its presence in Greece as well as the surrounding region.
Eurosystem eyes up alternative payment solutions in latest retail payments strategy update
The aim of the strategy is to “develop pan-European solutions for payments at the point of interaction”.
Valley Bank CIO Stuart Cook leaves to join start-up True Digital Network as CEO
Cook previously served as chief innovation officer at Valley National Bank for 11 months.
UAE fintech start-up Flow48 lands $25m pre-Series A funding
Founded in 2022 by Idriss Al Rifai, Flow48 provides revenue-based financing to SMEs.
New UK fintech start-up Kaldi aims to help millennials and Gen Z save and invest
Through an “easy-to-understand” app, Kaldi hopes to encourage people to start saving and investing earlier.
How Europe’s PSPs are bracing for SEPA instant payments
The European Parliament approved final implementation deadlines for SEPA instant payments on 7 November.
