FinTech Futures: Top five news stories of the week – 17 May 2024
Our pick of the top fintech news stories this week includes BBVA, Deutsche Bank, Lemonway and more.
Financial Services/Finserv
US fintech Yendo secures $165m in mix of debt financing and equity
The funding consists of $150 million in debt financing and $15 million in equity.
French fintech Lydia launches digital banking app Sumeria
Lydia says it plans to pump over €100 million into Sumeria over the next three years.
Commerce Bank goes live with instant payment service FedNow through Temenos Payments Hub
The bank has also tapped Temenos’ US Model Bank to “meet the unique business needs of the US market”.
The UK’s digital identity crisis
The UK needs to prioritise and accelerate digital identity adoption to avoid falling behind.
FinTech Founders Video: essential traits for a successful founding team
Four fintech founders discuss the essential traits that can help founding teams fly.
Vietnam’s PVcomBank launches mobile banking app powered by Temenos Digital on AWS
PVcomBank has been running on Temenos Core for retail and corporate banking for over 10 years.
UK challenger Tandem appoints Suavek Zajac as new CTO
Zajac’s most recent positions include serving as CTO at Blackberry and the UK-based fintech Railsr.
BIS opens call to private sector participants for Project Agorá
Applications are to remain open until 31 May, with the final list of participants to be announced on 9 August.
French paytech Lemonway appoints new CTO and CFO
Céline Bayer and Nicolas Vigier have been named Lemonway’s new CFO and CTO respectively.
Taxonomies of courage: ESG metrics and what then?
Knowing what the answer is, it turns out, is immaterial until you are prepared to do something about it.
Bradwin Roper to step down as fintech CEO of MTN South Africa
Roper, who joined the company last year, is set to depart in October.
New UAE-based open banking start-up Thimsa launches in beta
Thimsa will initially launch its payments platform in beta in the UAE and Bahrain.
Deutsche Bank to explore asset tokenisation applications as part of MAS’ Project Guardian
The bank will collaborate with Interop Labs and Memento Blockchain as part of the project.
Broadridge acquires Securities Industry Services business from Kyndryl
Kyndryl will provide the SIS business operated under Broadridge Canada with managed services.
Bankart migrates payment processing to Diebold Nixdorf’s Vynamic Transaction Middleware
The integration is to replace Bankart’s legacy payment processing platform provided by ACI Worldwide.
Adam Dodds to step down as CEO of stock trading app Freetrade
Freetrade COO and co-founder Viktor Nebehaj is poised to assume the CEO role moving forward.
Highlights from the FinTech B2B Marketing Conference | 23 April 2024, London
Watch highlights from the FinTech B2B Marketing Conference, which took place on 23 April in London.
TabaPay pulls the plug on proposed deal to acquire Synapse assets
The company previously announced its intention to purchase Synapse’s assets last month.
Mexican BNPL fintech Aplazo bags $70m in equity financing
Aplazo has now secured over $100 million in equity financing since its formation in 2020.
Banque Internationale à Luxembourg goes live with Temenos’ core banking and payments tech
BIL has actioned a major technology overhaul of its retail, corporate and private banking operations.
Wealthtech start-up FutureMoney launches tax-advantaged investing platform
FutureMoney’s flagship offering is its tax-advantaged Junior Roth IRA account, which leverages 529 plans.
New paytech Wink Pay launches in Lebanon in partnership with Visa and Codebase Technologies
Wink Pay offers an instant card issuance service for Visa prepaid virtual cards.
CTBC Bank Philippines partners Hitachi Asia for digital banking revamp
The bank has worked with Hitachi Asia to redesign its web interface and mobile banking applications.
What are the strengths, weaknesses and concerns around open banking?
The industry must ensure that open banking tech serves the strategic needs of consumers and institutions.
How UK building societies are finding balance amid the rise of digital
It’s estimated that the UK’s 43 active building societies serve approximately 26 million people.
Singapore’s Linnovate Partners bags $40m funding from SeaTown Holdings
Linnovate offers asset servicing and fund administration solutions for the investment industry.
Corpay to purchase AP automation platform Paymerang from Aldrich Capital for $475m
The transfer of Paymerang from Aldrich Capital to Corpay is expected to close this quarter.
Suffolk Building Society taps Finova to power mortgage offering
The mutual is to integrate Finova’s Apprivo mortgage originations banking platform.
TerraPay appoints network head amid new partnership with MultiPass
Hassan Chatila has been named as VP and global network head, joining from Western Union.
New US paytech Fractal launches with aim to become “SaaS companies’ preferred payment method”
The start-up’s solution seeks to provides SaaS firms with a pre-built embeddable payment service.
A1 Bank goes live with Avaloq’s core banking platform
The implementation of the platform was carried out by Avaloq’s partner Synpulse.
Cultures have no borders
The financial services industry has a key role to play in shaping a truly borderless financial world.
ICYMI fintech funding round-up: Fundcraft, Volta, Swypex, SAVR and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
FinTech Futures: Top five news stories of the week – 10 May 2024
Our pick of the top fintech news stories this week includes Monzo, NAB, GoTyme Bank, and more.
Basware acquires invoice management and statement reconciliation platform AP Matching
The acquisition will also see Basware integrate AP Matching’s managed services division.
Former Bank of America MD Mieko Shibata named new R&T Deposit Solutions CIO
Shibata has previously served as an MD at Morgan Stanley, JP Morgan, and Bank of America.
CFPB fines Chime $3.25m for customer refund delays
Chime is to also pay “at least $1.3 million in redress to harmed consumers”.
WaFd Bank to deploy Fiserv’s CashFlow Central for small business customers
The digital payment and cash flow management solution is the result of Fiserv’s partnership with Melio.
UK lender Abound secures £800m in mix of equity and debt financing
The London-based firm previously secured £500 million in equity and debt financing last year.
