CFPB issues guidance to stop big banks from charging “illegal junk fees”
The CFPB has made it clear to banks that people are entitled to get basic information without having to pay junk fees.
Financial Services/Finserv
UK’s FCA certifies paytech Viva Group as e-money institution
The company describes the licencing as “a significant step forward” for its position in the UK neobanking market.
FinTech Founders Video: ideal investors
Fintech founders share their advice on how to acquire funding and what makes an ideal investor.
FinTech Founders Video: funding strategy
Useful insights from fintech entrepreneurs and founders on funding and the best strategies.
Financial safety start-up Carefull secures $16.5m in Series A funding
Carefull’s tech helps banks and wealth advisors protect senior customers from financial fraud.
Video: Infosys Finacle at Sibos 2023 – Recomposing banking and the importance of ethical AI
We chat with Infosys Finacle CEO Sanat Rao about the need for banks to continuously evolve to remain competitive.
Republic Bank of Arizona taps Biz2X for business lending platform
The bank wants to “make it easy for Arizona businesses to get the capital they require for growth”.
Video: Genesys at FinovateFall 2023 – Modernising the customer experience in banking
At FinovateFall 2023, we spoke with David Porter of Genesys about how banks can enhance their customer experience.
Scottish challenger Alba Bank to migrate to Mambu’s core banking platform
Alba Bank says the migration will enable it to build products at speed to meet evolving market demands.
Al Etihad Payments partners India’s NPCI to develop UAE’s first domestic card scheme
Al Etihad Payments is a wholly-owned subsidiary of the Central Bank of the UAE.
Not paid enough for this
Don’t burn yourself out with work. This is a marathon, not a sprint. Don’t forget to look after yourself.
India’s IDBI Bank names Nehal Shah as new deputy chief technology officer
Shah will be responsible for the bank’s IT security and digital channels across various functions.
US-based Honor Bank goes live on nCino’s commercial banking platform
nCino says that Honor Bank was able to implement its solution and go live in “just six months”.
Peel Hunt appoints Piya Khanna as new chief technology officer
Khanna will replace Aaqib Mirza, who is set to lead Peel Hunt’s soon-to-be-launched RetailBook business.
German fintech Upvest secures €30m funding and enters partnership with BlackRock
Upvest has also partnered BlackRock in a bid to make investing “more accessible” for investors across Europe.
Video: DTCC at Sibos 2023 – Cybersecurity and the evolving threat landscape
We speak with Jason Harrell of DTCC about the emerging cyber threats financial institutions should be prepared for.
Four new clients set to go live on Mbanq’s BaaS platform in Q4 as company reports strong growth
Mbanq says it will support the launch of four new digital banking services in the US by the end of the year.
Paytech Medius taps acquired Expensya talent for two new senior appointments
Medius announced its acquisition of the expense management software company Expensya back in June.
Spice Money taps NSDL Payments Bank to offer zero balance accounts to rural India
Through this partnership, Spice Money aims to broaden financial inclusion across India.
UK’s FCA orders electronic money issuer Nvayo to suspend operations
Nvayo says that it “is working with the FCA to resolve their concerns and hope to find a solution”.
Banking Tech Awards USA 2024 nominations are now open!
Nominations for the Banking Tech Awards USA 2024 are open until 9 February.
HSBC acquires Citi’s $3.6bn consumer wealth portfolio in China
The deal is expected to close in H1 2024, with HSBC planning to extend offers to “in-scope employees” in China.
Pioneering innovative partnerships: Unveiling the game-changing fintech hybrid model
Watch this video for an in-depth look at The Greenlend Project.
Revolutionising SME financing: How Banca AideXa uses AI and open banking to support SME growth
We explore how Banca AideXa uses artificial intelligence (AI) and open banking to revolutionise online financing.
BaaS fintech Synapse lays off 40% of staff in fresh round of job cuts
In a statement, Synapse says it has “a strong group in place” to manage its operations and customers.
Lithuanian P2P lending platform Savy taps Amlyze for compliance solutions
Bendras finansavimas, the operator of Savy, is expected to utilise all of Amlyze’s core modules.
Can you seek out the line that we cannot see?
If you have the power of the pen but you choose to look the other way, then what hope do the rest of the people have?
PSP NomadRem taps regtech iDenfy for ID verification and AML screening
The payment service provider is to deploy the regtech’s solutions to enhance its customer onboarding processes.
Kazakhstan fintech Freedom reportedly under investigation by SEC, DOJ
According to documents seen by CNBC, the SEC’s Boston office has been investigating Freedom for months.
Lloyds Bank launches Paperless Guarantee solution to digitise trade finance
The solution seeks to support businesses with the digital issuance of bank guarantees.
Rauva appoints Tomas Oliveira da Silva as chief risk officer
He joins from DF Capital, a UK-based savings and lending bank, where he served as CRO for nearly three years.
Fintech unicorn Slice to merge with India’s North East Small Finance Bank
Its merger with NESFB will see Slice transition into a small finance bank.
Investree to launch Qatar lendtech hub following $231m Series D
The round also saw participation from existing investor SBI Holdings, and succeeds the platform’s $23.5m Series C.
Is “digital transformation” a redundant concept?
Perhaps it’s time to move on from digital transformation and welcome the new era of “organisational evolution”.
SaaS fintech Earnix appoints Be’eri Mart as chief product officer
Mart initially joined the fintech in August 2020, just before it landed its unicorn status.
UK fintech ieDigital acquires CUSO Connect FSS to tap US market
The two companies will become part of the new ieDigital Group, but will, at this time, retain their separate brands in their respective markets
ICYMI fintech funding round-up: Mantle, SaaScada, Rainforest and more
Our weekly fintech round-up for you to get the latest funding news from around the world.
FinTech Futures: Top five stories of the week – 6 October 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Can core modernisation give your bank new legs?
For banks, core replacement is not the only game in town, with core modernisation being a far less risky option.
Clearco completes recapitalisation, secures $60m Series D funding and $100m financing facility
The recapitalisation comes after the Canadian growth capital firm carried out significant job cuts over the last year.
