PayPal launches US dollar stablecoin PayPal USD
Rolling out in the coming weeks, PayPal USD will be available to purchase for eligible US PayPal customers.
Financial Services/Finserv
Garanti BBVA Financial Technologies launches new venture for digital assets
The launch is Garanti BBVA Financial Technologies’ first foray into digital assets.
Klarpay names Markus Emödi as new chief legal and compliance officer and deputy CEO
Emödi has over 20 years of experience in compliance and risk management within the financial sector.
Hong Kong fintech Micro Connect raises $458m Series C funding
According to Forbes Asia, the funding round values the start-up at $1.7 billion, making it Hong Kong’s latest unicorn.
MarketAxess acquires Pragma to leverage quantitative trading technology
MarketAxess aims to accelerate the development of quantitative execution algorithms for fixed-income products.
Webinar | 28 September 2023: Revolutionising SME financing – how Banca AideXa uses AI decisioning platform & open banking
Learn what tools and tech enable Banca AideXa to provide quick and efficient loans to SMEs.
Vijay Shekhar Sharma buys 10% stake in Paytm worth $628m from Antfin
Sharma’s shareholdings in Paytm will increase to 19.42%, while Antfin’s shareholdings are reduced to 13.5%.
MAS pledges up to $112m towards tech and innovation in financial sector
The funding comes as part of a renewal of the Financial Sector Technology and Innovation Scheme (FSTI 3.0).
Private debt platform Cordada taps Thought Machine for core banking tech
The Chilean firm will use Thought Machine’s Vault Core to develop personalised financial products.
State of play: 2023 so far
What’s the current state of play for the financial services sector and what can we expect for the remainder of 2023?
Revolut halts crypto services in the US citing “evolving regulatory environment”
From 3 October, access to crypto through Revolut will be fully disabled for US customers.
US insurtech start-up Lula raises $35.5m Series B funding
The insurtech previously raised $18 million in its Series A funding round of July 2021.
Stripe appoints Steffan Tomlinson as CFO
Tomlinson, who joins from Confluent, brings more than 25 years of experience to his new role.
Mexican challenger Albo snaps up Delt.ai for $20m
The acquisition makes Albo “the only neobank to offer debit and credit products for both consumers and SMBs”.
Banking veteran Paco Ybarra to depart Citigroup after 36 years
He has served as CEO of Citigroup’s institutional clients group since 2019 having joined the firm in 1987.
MSUFCU partners Nymbus for SMB “bank in a box” solution
MSUFCU previously participated in Nymbus’ $70 million Series D funding round in May.
Liquidity management – the rise of the virtual account
Virtual accounts have now gained an amount of traction, with lots of discussion and successful case studies.
FinTech Futures: Top five stories of the week – 4 August 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: Pockit, Orbital, Traction & more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Payoneer acquires AI-powered data platform Spott to streamline decision-making
Payoneer says the start-up’s tech will help it to “better understand and serve customers”.
First Federal Savings & Loan of San Rafael boosts digital transformation with Bankjoy partnership
First Federal will integrate Bankjoy’s digital banking platform with Fiserv Cleartouch, its core banking system.
FinTech Futures Jobs: Three ways AI is changing fintech jobs
Explore thousands of open roles on the FinTech Futures Job Board today.
The transformative impact of AI and its implications on the future workforce
The AI revolution is well and truly underway. But what does it mean for the future of workers?
WaterStone Bank taps nCino for cloud banking platform
The bank says it wants to enhance the lending experience for its customers by moving to a single platform.
Automotive lending platform GoFi taps Provenir for credit risk decisioning
The Texas-headquartered company has implemented Provenir’s Data and Decisioning Platform.
Clearstream migrates regulatory reporting to Regnology’s Rcloud platform
Rcloud was the result of Regnology’s November 2022 partnership with Google Cloud.
What the FinTech? | S.4 Episode 12 | Business banking and the UK’s ‘missing middle’
In this episode of the podcast, we’re joined by Rajesh Gupta, CFO of UK business bank OakNorth.
Novo secures $125m credit facility to provide working capital to small businesses through Novo Funding
Once approved, small businesses will have instant access to up to $75,000 of working capital.
Stax Payments appoints Paulette Rowe as new CEO
In her new role, Rowe will be leading growth and operations for Stax’s software and payments portfolio.
Seacoast Bank strikes deal with NCR for ATM-as-a-Service solution
Seacoast Bank is leveraging NCR’s ATM-as-a-Service solution to replace its conventional ATM fleet.
Kittens
How honest are you with yourself about the things that stress you out? About the things that scare you?
Cash management – trends and priorities
While real-time data remains an ideal, the cash management process needs first to adapt to expanded ecosystems and networks.
Nexi buys 30% stake in German PSP Computop
Computop’s founders, Frank Arnoldt and Ralf Gladis, previously held 50% of the company’s shares each.
Cambodia’s Wing Bank selects Ipification for mobile ID verification solution
The bank’s CEO says the new tech will “streamline the authentication process for Wing Bank app users”.
HSBC joins forces with Tradeshift to launch embedded finance business
The joint venture will focus on the development of embedded finance solutions and financial services apps.
GoLogiq to acquire Vietnamese fintech Symplefy for $30m
GoLogiq’s executive chairman Brent Suen says the acquisition “is the next of several in our pipeline”.
Vestwell taps workplace financial wellness with Gradifi Solutions acquisition
Vestwell acquires Gradifi Solutions from Morgan Stanley, following its acquisition of E*TRADE Financial.
DFSA slaps $3m fine on Mirabaud for AML failings
Between June 2018 and October 2021, DFSA says it found weaknesses in Mirabaud’s AML systems and controls.
Machias Savings Bank taps Jack Henry for tech overhaul
It wanted a tech strategy that would help it support customers’ financial needs, while competing with big banks.
Challenging funding environment pushes LedgerEdge into administration
David Robert Baxendale and Edward John Macnamara have been appointed as joint administrators.
