One core to rule them all – part two
The business of banking is changing, and much of that is only possible with new core technology.
Financial Services/Finserv
CFPB proposes new laws to stamp out NSF fees for transactions declined in real time
NSF fees on debit card and ATM transactions will be “unlawful” under the proposed rule.
UK fintech ieDigital snaps up AI tech provider Abaka
The fintech’s takeover of Abaka comes only four months after it also acquired US CUSO Connect FSS.
Abrdn announces £150m cost-cutting drive with 500 jobs on the chopping block
The cuts are expected to impact group functions and support services across its middle management.
Duco names Michael Chin as new CEO as Christian Nentwich steps down
Chin previously served as CEO of Broadway Technology prior to its acquisition by Bloomberg last October.
Former Adyen exec Jan-Pieter Lips joins UK’s DNA Payments as CEO
The London-headquartered firm has tasked its new CEO with leading its next period of growth.
No stray dogs allowed
‘No stray dogs allowed’ is a phrase I find myself muttering a lot. Usually in frustration or abject bafflement.
Navy Federal Credit Union taps Oracle for cloud and account servicing tech overhaul
The largest credit union in the US will leverage four different Oracle solutions to boost automation and efficiency.
US fintech Brex to axe 20% of workforce
The cuts are part of an organisational restructure, with founder Pedro Franceschi saying the firm grew too quickly.
Grow Financial FCU taps NCR Atleos for ATM management
The Tampa-headquartered credit union claims to operate 70,000 surcharge-free ATMs across the US.
Former Sutton Bank exec Glenn Murray joins start-up Evolution 2100 as chief strategy officer
Evolution 2100 plans to provide a suite of financial services for underserved communities and businesses.
The Philippines’ UnionBank taps Informatica for MDM solution
Informatica says the solution provides an “enterprise-wide, 360-degree view of customers”.
PayTech Awards 2024 sponsorship opportunities
Unmissable sponsorship opportunities – digital and physical – at the upcoming PayTech Awards on 28 June.
BNPL firm Billink fuels European expansion plans with $32m funding from Varengold Bank
The Dutch paytech is looking to expand its presence and break into the neighbouring market of Germany.
Italy’s Objectway doubles down on North American wealth market with acquisition of Nest Wealth
The deal will see the fintech take ownership of Nest Wealth’s digital wealth solutions and client portfolio.
Oracle strikes deal with Slovenia’s SID Bank for core banking and payments technology
The bank will utilise Oracle’s core banking, payments, trade finance, treasury and corporate lending applications.
Finnish fintech Aibidia names Matthias Grabellus as new chief product officer
Aibidia says Grabellus will be tasked with globalising its product suite for cross-border business management.
Aussie paytech EML Payments to wind down Irish subsidiary PCSIL
Interpath Advisory has been instated as provisional liquidator for PCSIL.
Demystify Podcast: Lettspay and Griffin – demystifying working with a challenger bank
Our guests on the Demystify podcast this week are Adam Moulson, Griffin’s COO, and Garrett Foxon, CEO of Lettspay.
DailyPay secures $175m in debt and equity to tap new markets
The $75 million equity funding valued the NYC-headquartered fintech at $1.75 billion.
Cartoon: Thawing
A new cartoon illustrating how hopes of the end of the crypto winter are starting to become real.
US private equity firm WCAS buys majority stake in EquiLend
WCAS will also commit $200 million to fuel the future growth of EquiLend.
India’s CSB Bank taps Oracle for Flexcube core
The bank is set to replace its homegrown Maarvel core system with Flexcube.
Business spend management platform Payhawk lands UK EMI licence
The fintech unicorn previously gained an EMI licence from the central bank of Lithuania in July.
ICYMI fintech funding round-up: Prometeo, Zeal, Detected and Finbridge Global
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Rising waters, rising risks: floods and the global financial tide of climate change
If the models are correct, then the financial impacts of climate change globally could be devastating.
Join us as a judge for PayTech Awards 2024!
The prestigious PayTech Awards 2024 invites payments professionals to apply to join the esteemed panel of judges.
Sainsbury’s set to wind down banking business
The UK retailer has also confirmed the departure of Jim Brown, Sainsbury’s Bank’s CEO of almost five years.
DirectID founder James Varga departs after 13 years
Varga says he has made the “pivotal decision to move on” from the Scottish risk and decisioning firm.
Decluttering
It’s time to double down or pull the plug on the things you have not doubled down on by now.
Colorado’s Elevations Credit Union partners Alkami for digital banking platform
The credit union hopes Alkami’s digital platform will help it grow its retail and business portfolio.
Specialist neobank Panacea Financial bags $24.5m Series B funding
Panacea says it will use the capital to expand its financial services suite built for US doctors.
Put yourself in the spotlight at this year’s Banking Tech Awards USA
Nominations for the 2024 awards are now open – apply today!
Gigs appoints Adyen alumni Steven van Bommel as head of finance
The telecom-as-a-service platform has previously tapped talent from Nubank, Klarna and Revolut.
Nepal’s Kumari Bank taps Compass Plus Technologies for payments processing
The pair states that it has migrated over 500,000 cards, 1,200 POS terminals and almost 300 ATMs.
If 2023 was the year of AI hype, will 2024 be the year of AI governance and responsibility?
In 2024, we must ensure that issues around privacy, fairness, and biases in AI are addressed.
Save the date: The Banking Tech Awards celebrates its 25th anniversary on 4 December
Nominations for the 25th annual Banking Tech Awards will open this spring.
How fintech is expanding the borders of financial inclusion
FinTech Futures takes a look at FS firms that are catering to vulnerable people or people with disabilities.
Paymob lands PSP licence from Oman’s central bank
Paymob now claims to be the first international fintech company to be fully licenced in Oman.
Global Credit Union to acquire First Financial Northwest Bank for $231m
The transaction is expected to close in Q4 2024, subject to approvals and customary closing conditions.
