Google parent company Alphabet in talks to seize major stake in UK challenger Monzo
Monzo could close its latest round of funding before the end of the year as it eyes up a potential IPO.
Financial Services/Finserv
BNF Bank chooses Aspire Systems as strategic partner for implementing cutting-edge Temenos digital banking solutions
Aspire Systems has partnered with BNF Bank on a transformation journey to implement Temenos digital banking solutions.
US fintech Brex names Karandeep Anand as its first president
Anand first joined Brex in January 2022 as chief product officer.
WeLab launches Bank Saqu as its second digital bank in Asia
The newly launched digital bank aims to target the younger generations, with a focus on solopreneurs in Indonesia.
Jordan’s Capital Investments taps Codebase Technologies for digital onboarding
Capital Bank of Jordan previously tapped Codebase to launch its digital banking app and neobank Blink.
UK-Africa remittance start-up Zazuu closes down
Founded in 2018, Zazuu operated a marketplace for cross-border payment networks in Africa.
US lender Enova fined $15m by CFPB for “widespread illegal conduct”
Enova says it has reached an agreement with the CFPB, with the majority of items being self-reported by the firm.
Driving competitive advantage in financial services with UX research
The role of UX is to be the voice of the customer in the journey of transformation and solution discovery.
Lack of funding forces US credit card fintech Ness to close down
Having raised $15.5 million in seed funding, the fintech had hoped to raise an additional $40 million but to no avail.
Apple Pay rolls out new open banking feature for UK customers
Apple Pay’s UK customers can access their “most relevant” account information at the time of purchase.
Dutch payment processor Silverflow lands $16.3m funding
Picus Capital, Coatue, Crane Venture Partners, Inkef, and a number of angel investors also participated in the round.
ICYMI fintech funding round-up: Refine Intelligence, Apiture, Solvimon and more
Our weekly fintech round-up for you to get the latest funding news from around the world.
US digital bank Green Dot appoints SVP Dave Harden as new CTO
Harden has served as the bank’s SVP of product development since February 2022.
Regulators approve ex-UK cabinet minister Gavin Williamson’s appointment to Lanistar advisory board
Williamson is expected to be paid in the company’s shares, and will meet its executive committee once a month.
Ireland’s Synch ditches plans to roll out mobile payments app
Synch says “it was no longer feasible to launch its payment app Yippay into the Irish market”.
The irony of incumbent core banking vendors
Incumbent core banking vendors have become the very thing they have been selling banks to replace.
Lynx raises £15m Series A funding to fight fraud and financial crime
Created 20 years ago, Lynx leverages AI and machine learning to detect and prevent financial crime.
AMP Bank and Salt Bank tap Starling’s Engine platform for digital banking offerings
Engine enables clients to build their own banking propositions using the same core technology that Starling uses.
Redpin launches with new strategy and £140m in funding
The launch follows a previous £140 million investment that Redpin received from Blackstone, Palamon and Corsair.
Commerzbank becomes first German bank to receive crypto custody licence
With the new licence, Commerzbank aims to build up a range of digital asset services, with a focus on crypto assets.
Mastercard taps Japan’s NEC to roll out biometric checkouts across APAC
Mastercard first launched its Biometric Checkout Programme last year with NEC as an early partner.
Nuvei reportedly snaps up Aussie paytech Till Payments for $30.5m
The paytech was valued at $350 million only seven months ago.
Q2 Holdings announces leadership changes with new senior hires
Himagiri Mukkamala joins as CDO, Beth-Anne Bygum as CISO and Blair Williams as CRO.
Skin in the game
An organisation that lives by its values is worth more than gold.
FinTech Founders Video: upcoming trends – embedding community values
In this episode, fintech founders share their experienced of building values for a new digital vision.
Bambu taps WealthKernel to launch “world’s first” SaaS robo-advisor
Bambu says its solution has been designed for financial institutions that cater to mass retail investors.
UK’s OneSavings Bank partners nCino to streamline lending operations
The bank aims to increase efficiency in its underwriting and loan origination processes.
MDT appoints Dan Schneider as CPO and Greg Lanigan as CIO in C-suite shake-up
Tracie Loudermilk has also been appointed to the role of vice president of project and consulting solutions.
Japan’s MUFG pens multi-year partnership with AWS for digital transformation
By moving to the cloud, AWS claims that MUFG has been able to reduce IT operational costs by 20%.
Fintel makes double acquisition of VouchedFor and AKG for combined £9.1m
The deals mark Fintel’s third and fourth acquisitions of the year, following deals for Micap and Competent Adviser.
From VRPs to AI: Innovation takes centre stage at day two of Fintech Talents
Payments innovation and the regulation of AI were hot topics of discussion at this year’s Fintech Talents Festival.
Levenue lands €8m Series A funding from Truffle Capital, acquires Cake
Levenue provides a marketplace for subscription-based businesses to connect with investors and access financing.
Moneythor launches Customer Activation Management platform
Moneythor’s Customer Activation Management aims to help banks achieve long-term customer profitability.
Report: Increasing new customer acquisition and engagement in digital banking
The findings and analysis of a survey to identify key issues around new customer acquisition in digital banking.
UK fintech Fnality raises £77.7m in Goldman Sachs and BNP Paribas-led Series B
The fintech’s Series B also saw participation from existing investors BNY Mellon, UBS and Nasdaq Ventures.
FinTech Wales seeks new CEO as Sarah Williams-Gardener transitions to chair
Effective January, Williams-Gardener succeeds former Confused CEO Louise O’Shea as chair of the organisation.
Video: Atomic at Money20/20 USA 2023 – Powering financial connectivity
Atomic’s Andrea Martone discusses how the firm is helping businesses align with the CFPB’s vision for open banking.
Global enforcement fines rise to $5.65bn in Q3 2023
The first two quarters of this year saw global enforcement fines amount to $1.5bn and $2.27bn, respectively.
Co-branded credit card fintech Imprint lands $75m in Series B funding
The round was led by Ribbit Capital with participation from existing investors Kleiner Perkins and Thrive Capital.
Regulators should greenlight more M&A among banks and fintechs to avoid bankruptcies
Consolidation and M&As can create an environment where dynamic regional banking ecosystems can flourish.
