Exclusive: Old Mutual signs for 10x Banking core, igniting vendor’s African expansion
Old Mutual will leverage 10x’s core banking tech to “serve those who have bank accounts but are severely underserved”.
Financial Services/Finserv
Commercial Bank of Kuwait to upgrade its payment systems with new Network International partnership
CBK projects that the collaboration will “significantly enhance” its payment operations and continued shift to digital.
India’s Tata Consultancy Services reportedly in the race to run UK’s Faster Payments service
The potential move would see TCS replace Mastercard’s Vocalink as the service’s technology partner.
Vast Bank exits cryptocurrency market, closes crypto banking mobile app
The bank disabled and removed the Vast Crypto Mobile Banking app from app stores on 31 January.
India’s RBI orders Paytm Payments Bank to halt banking services by end of February
The RBI attributes its order to “persistent non-compliances and continued material supervisory concerns in the bank”.
Raymond James Bank to deploy ICE Mortgage Technology’s lending solution Encompass
The software will support the origination of mortgages for high-net-worth borrowers.
Demystify Podcast: Embracing fintech and the green agenda with vice minister of finance, Lithuania
Lithuania’s ambitious journey in fintech and sustainability with vice minister of finance, Vaida Česnulevičiūtė Markevičienė.
B2B finance automation platform Ramp acquires Venue to revamp procurement product
The value of the Venue acquisition has not been disclosed.
Canoe Intelligence appoints former CIA analyst Noel Calhoun as new CTO
Calhoun joins the fintech from Onsights.io, where he held the role of CTO for just under two years.
Banking Technology Magazine February 2024 issue out now
Cover story: PLANT LIFE – Talking flora and quantum computing.
Long-serving Barclays exec Matthew Haines leaves for Santander
Haines has joined Santander’s Payments Centre of Excellence as product owner, effective this month.
Twig enters liquidation, becoming latest UK fintech to shut down
Anthony Hyams and Kelly Knight of Insolve Plus were installed on 23 January to liquidate the fintech.
ICYMI fintech funding round-up: Kafene, General Index, Mesh and Netcetera
A handy round-up of the recent funding endeavours of fintech companies across the globe.
FinTech Futures: Top five news stories of the week – 2 February 2024
Our pick of the top fintech news stories this week includes Lloyds, HSBC, PayPal, Santander and more.
Mexican banking heavyweight Banorte taps SAP Fioneer to launch digital bank Bineo
The app-based offering launched this week with account and lending services.
NatWest’s Mettle names Michelle Prance as new CEO
Prance has been promoted to help “meet the evolving needs of the self-employed community”.
Schroders Personal Wealth announces launch of new investment platform
The proposed platform is set to arrive in the summer, along with a new client mobile app in Q2.
How Lithuania became a fintech hub in Europe
Lithuania’s fintech scene is thriving thanks to an environment that encourages innovation and collaboration.
Southern California Bancorp and California BanCorp trigger $233.6m “true merger of equals”
The holding companies currently control Bank of Southern California and California Bank of Commerce.
Offa taps Finova to power new Sharia-compliant property lending platform
The move comes as part of a £1 million investment by Offa to upgrade its IT systems.
State of play: payments
Today, consumers have more options than ever to make payments. So which method will ultimately win?
Amplifi Capital lands £22.5m funding to fuel Reevo Money expansion
Reevo Money was launched by Amplifi Capital in 2022 and is the firm’s second customer-facing brand.
Selling sand in the desert
I have a very complicated relationship with the language others use to describe a good salesperson.
Kriya announces new £50m funding facility from Viola Group
Kriya aims to use the facility to enhance its offerings for B2B retailers.
The State of AI in Enablement: 2023 Report
The report takes stock of current AI familiarity, expectations, and challenges among enablement technology users.
PayPal to trim workforce by 9% over 2024 in bid to streamline business
PayPal president and CEO Alex Chriss says the cuts aim to “reduce complexity and duplication”.
What the FinTech? | S.5 Episode 1 | The growth of fintech in Africa
In this episode of the podcast, we’re joined by Hangwi Muambadzi, Principal and Head of Africa at CommerzVentures.
UK fintech Paysme winds down operations
Founder Derek Stewart says Paysme is “not in a sufficiently strong financial position to grow to the next milestone”.
YouLend secures £4bn private securitisation deal with JP Morgan
The deal will enable YouLend to provide additional revenue-based financing to SMEs.
Power in simplicity: confirmation of payee provider SurePay wins at Banking Tech Awards
Making life difficult for fraudsters but easier for business is the real success story, says SurePay.
The Bank of Missouri looks to bring digital banking products to fintechs with i2c partnership
TBOM will tap i2c to enable its fintech clients to build “unique configurations of digital-first financial services”.
Digital transformations: is the recruitment process fit for purpose in the digital age?
Are upwards of six interviews really necessary for anything other than a top-level hire?
GFT cultivates core banking capabilities with acquisition of Colombia’s Sophos Solutions
The acquisition will see GFT take on all of Sophos’ partners and 1,700 of its employees.
Louisiana’s b1Bank partners KlariVis for data analytics platform
The bank will utilise the vendor’s core agnostic enterprise dashboard and analytics platform, KlariVis Advantage.
Bread Financial names former Amex CIO Allegra Driscoll as new CTO
Driscoll has also previously held senior positions at Goldman Sachs and Credit Suisse.
Large language models: risk mitigation best practices
With the rise in usage of LLM solutions, it’s important to strategise plans for effective risk mitigation.
Société Générale reportedly seeks new buyer for neobank Shine
Les Echos reports the bank is approaching potential buyers for Shine four years after acquiring the company.
Webinar | 5 March 2024 | Banking in 2024: The key digital transformation trends shaping the industry
Join this free webinar to learn more about the tech trends shaping the banking industry in 2024.
Kurdistan International Islamic Bank taps Azentio for iMAL core banking platform
The bank will also utilise Azentio’s financial crime management and anti-money laundering (AML) system.
ICYMI fintech funding round-up: Safty, Ozone API, WealthKernel and Karty
A handy round-up of the recent funding endeavours of fintech companies across the globe.
