Banking Tech Awards USA 2023 winner: Fincom – 90% cost reduction in AML sanctions screening
Fincom’s AML Sanctions Screening solution won the AML & Compliance Tech of the Future at the awards.
Financial Services/Finserv
Apple rolls out Tap to Pay in the UK with Revolut and NatWest
Tap to Pay allows businesses to accept in-person, contactless payments on an iPhone, without need for hardware.
Car IQ partners Visa to enable in-vehicle payments
Car IQ Pay vehicle wallet enables vehicles to have their own payment accounts to transact directly with merchants.
Global fintech investment falls over H1 2023 amid economic turbulence but sector remains resilient
According to Innovate Finance data, $27.3bn was injected into the industry globally during H1 2023 through 1,714 deals.
ICYMI fintech funding round-up: Efficient Capital Labs, CapStack 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 – 14 July 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
FinTech Futures Jobs: Is the era of “move fast and break things” over?
Explore thousands of open roles on the FinTech Futures Job Board today.
Alexander Weber departs as CGO of German challenger N26
Weber is departing the position to pursue his own entrepreneurial journey.
IC Credit Union selects Alkami for tech stack modernisation
The credit union intends to create a modernised user experience for its 37,000-strong member base.
BKN301 names Mahesh Paolini-Subramanya as new CTO
He joins BKN301 Group from Klar, a digital bank in Mexico, where he served as CTO for a year.
German fintech Moss taps GoCardless to power its UK push
The London-based bank payment company becomes the UK direct debit provider to Moss’ UK expansion.
Convera taps Temenos to modernise payments infrastructure
Convera will deploy Temenos’ Payments Hub solution running in the Temenos Cloud to replace its legacy systems.
Monzo reportedly eyeing merger with Nordic neobank Lunar
According to Bloomberg, the potential deal would form part of a European expansion push for Monzo.
DBS Bank to sell majority stake in AXS to Tower Capital Asia
The bank has struck an agreement this week to sell a 77.8% stake in AXS to the private equity firm.
UK fintech Suits Me looks to revive face-to-face banking with new digital service
The service’s arrival is a response to the failings of chatbots.
What the FinTech? | S.4 Episode 11 | Blockchain and the future of corporate actions processing
In the latest episode of the podcast, we’re joined by Whikie Liu, Strategy Director, Capital Markets at Swift.
US fintech start-up MerQube lands $22m Series B funding
The round was led by Intel Capital, with participation from new investor Allianz Life Ventures, and existing investors.
Defacto secures credit facility of up to €167m with Citi and Viola Credit
The fund will have an initial size of €67 million, with increases subject to consent from the lenders.
Strategy is good, but constraint awareness is better
Be honest and mindful of your constraints and make choices that mitigate their impact.
Fiinu to scale back operations amid continued efforts to source fresh funding
Fiinu’s cost reduction plans include staff redundancies.
US accounting fintech Jirav raises $20m Series B funding
With the funds, Jirav plans to fuel product development, expand its customer base and attract new talent.
Collective raises $50m to deliver “financial peace of mind” for freelancers
With the new funding, Collective plans to accelerate AI deployment across its operations and add new features.
Citi launches new digital commercial banking platform
Citi Commercial Bank (CCB) says the new platform has been created “in close collaboration” with its clients.
Legal & General extends cloud migration agreement with Kyndryl
The new seven-year agreement is to last until 31 March 2030.
Payoneer becomes latest fintech to cut jobs
The US payments platform is to cut 9% of its workforce by Q3 2023.
GoCardless names Franck Cohen as first chairman of the board
GoCardless CEO says the appointment brings them the the ability to make “fast and effective decisions”.
Solaris raises €38m in funding to strengthen governance and compliance
The company says it will use the funding to strengthen its governance and compliance.
Checkout.com launches AI-led ID verification solution
The company claims its new solution can identify “nearly every citizen in the world”.
UnionPay connects with Cambodia’s central bank over QR code interoperability
The agreement was confirmed by the signing of a MoU in Phnom Penh, Cambodia’s capital city, this week.
Romania’s BRD extends digital banking partnership with Backbase
Backbase will enhance BRD’s digital banking services and customer experience.
Tarabut Gateway names Tariq Sanad as new CFO
Tarabut Gateway says Sanad excels “particularly in scaling growth start-ups post-Series A”.
Silverbird announces Stu Bailey as new CPO
Bailey’s appointment will seek to assist Silverbird in “liberating cross-border trade” for SMEs.
China imposes hefty fines on Ant Group and Tencent as it looks to normalise supervision
Ant Group and its subsidiaries have received a penalty of $984.3m, and Tenpay has been slapped a fine of $413m.
How cloud native observability can be the right choice for your firm
Real-world examples and practical insights on how to harness the power of cloud native observability.
Report: Global banks and the transformation illusion slowing progress
There’s a direct correlation between the rate of a bank’s digital transformation and its ability to win and retain customers.
Apple eyes credit card launch in India as partnership with Goldman may be nearing its end
Apple is reportedly exploring a partnership with HDFC Bank in India to roll out a credit card offering.
Mexico’s BanCoppel taps Temenos for core banking overhaul
Utilising Temenos’ core banking platform, BanCoppel aims to scale its operations and offer more banking services.
Humo and Credo Bank to pilot RTGS.global settlement service
The pilots will seek to streamline historically cumbersome cross-border settlement processes.
Banking Technology Magazine July / August 2023 issue out now
Cover story: THE BEST OF BANKING TECH USA – Winners and pictures from an amazing night.
FinTech Futures: Top five stories of the week – 7 July 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
