Visa to acquire payments and banking platform Pismo for $1bn
The transaction is subject to regulatory approvals and is expected to close by the end of this year.
Financial Services/Finserv
UK signs financial services cooperation agreement with EU
The MoU aims to establish an “ongoing forum” to discuss voluntary regulatory cooperation.
The prophet
Staying teachable is the biggest skill you can retain for the years ahead.
Socure snaps up ID verification start-up Berbix for $70m
Socure has integrated Berbix’s tech to launch its new predictive document verification solution, DocV 3.0.
European Commission proposes new measures to modernise payments
The proposed measures include revising the Payment Services Directive to become PSD3.
One Trading, formerly Bitpanda Pro, bags €30m funding
The funding round was led by Peter Thiel’s Valar Ventures.
State Employees Credit Union taps Apiture for digital banking upgrade
The credit union will utilise Apiture’s Consumer Banking and Business Banking solutions.
Sardine forms industry consortium to help tackle payment fraud
Founding members include Chesapeake Bank, Visa, Airbase, Blockchain.com, Alloy Labs Alliance, iLex, and Novo.
Why Java-based viewing integrations are essential for fintech applications
Accusoft’s VirtualViewer provides true cross-platform document support for Java-based applications.
Robinhood reportedly laying off 7% of staff in fresh round of job cuts
The news marks Robinhood’s third round of layoffs since April 2022.
Aussie fintech Stables launches APAC’s first stablecoin virtual card
Stables’ CEO says the company wants to simplify stablecoin usage and drive its global adoption.
US fintech Ramp buys AI customer support platform Cohere.io
Cohere.io’s entire team, including CEO Yunyu Lin, will join Ramp as part of the deal.
Goldman Sachs reportedly set to lay off 125 managing directors worldwide
Sources tell Bloomberg that the layoffs are currently ongoing as the bank looks to cut costs.
Star One Credit Union taps Tyfone to implement instant payment solution
The solution is certified for FedNowSM, the Federal Reserve’s new instant payment offering launching in July 2023.
Danske Bank taps Infosys for digital transformation
As part of the partnership, Infosys will also acquire Danske Bank’s India IT hub, employing over 1400 people.
UK fintech TreasurySpring secures $29m Series B funding
The funding follows its $10 million Series A held in June 2021, and brings its total capital raised to $42 million.
Novobanco taps Feedzai for fraud protection and enhanced CX
Novobanco will deploy Feedzai’s Digital Trust (DT) and Transaction Fraud for Banking (TFB) solutions.
JP Morgan Chase appoints new chief data and analytics officer
Heitsenrether will be responsible for leading the adoption of AI across the bank’s operations.
An open approach to open banking
To grow open banking worldwide, governments and industries must have an open, collaborative attitude.
PE firm Flexpoint Ford acquires loan origination fintech Baker Hill
The transaction is expected to close soon following customary regulatory approvals.
Robinhood snaps up credit card platform X1 for $95m
The acquisition is expected to close in Q3 2023, subject to customary closing conditions.
FinTech Futures: Top five stories of the week – 23 June 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
ICYMI fintech funding round-up: Mypinpad, Navadhan, TransBnk & more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
FinTech Futures Jobs: How to demonstrate transferable skills in a tech job interview
Explore thousands of open roles on the FinTech Futures Job Board today.
UK paytech Ryft introduces in-person card payments to St Helena
Ryft says the small, remote island has “historically struggled” to access international payment platforms.
How SaaS and generative AI are positively impacting ‘experience thinking’
SaaS and generative AI are compelling the industry to concentrate on what users see and do.
US paytech Fortis expands into Canada, acquires SmartPay
The move marks Fortis’ first expansion outside the United States.
Google Cloud launches AI-powered AML offering for financial institutions
Google Cloud claims its AML AI solution helps increase risk detection and lower operational cost.
Puerto Rico’s Segura Bank taps Temenos to power new digital bank offering
The new digital banking platform for Latin Americans is expected to go live in the coming months.
Visa names Chris Suh as new chief financial officer
Suh replaces longstanding Visa CFO Vasant Prabhu, who is set to retire on 30 September.
Cowardly lions for the digital era
Don’t do all the things all the time. Figure out what is key. And focus.
Video: SmartStream at Money20/20 Europe – Streamlining data reconciliation with AI
SmartStream’s Jethro MacDonald discusses how SmartStream Air turns messy data into usable data.
UK paytech Volt secures $60m in Series B funding
With the new funds, the company plans to expand into APAC and the US.
ACI Worldwide launches Instant Pay solution for European merchants
Merchants using Instant Pay will be able to accept instant online, mobile and in-store payments.
Okoora launches integrated payments, banking and risk management platform
To facilitate its expansion, the start-up has submitted licence applications in multiple European countries.
The power of AI for ESG
AI is a powerful tool that can be used to improve ESG practices and compliance.
CFIT appoints Stephen Ingledew and Alex Marsh as independent non-executive directors
Stephen Ingledew is chairman of FinTech Scotland and Alex Marsh is the former head of Klarna UK.
Jordan Ahli Bank launches social payment app Qawn powered by Thought Machine
Qawn runs on Thought Machine’s cloud-native core banking platform, Vault Core.
Cartoon: Rules of the road
A new cartoon illustrating the enforcement approach that US regulators are taking with the crypto industry.
Video: Loqate at FinovateSpring 2023 – Powering global address verification
Loqate’s Justin Duling discusses how the firm’s address verification solution helps customers boost conversion rates.
