US fintech Rocket Companies appoints Varun Krishna as new CEO
Rocket Companies also revealed that president and COO Bob Walters is to retire after 27 years with the firm.
Financial Services/Finserv
UK fintech Rapyd snaps up PayU GPO in $610m deal to boost global expansion
PayU says the sale will allow it to focus on “the huge fintech opportunity” in India.
Global fintech funding drops 17% to $52.4bn in first half of 2023
Fintech investment fell in EMEA and APAC, while the US took the lion’s share of global funding.
UK consumer lending start-up Koyo Loans closes down
All of Koyo’s existing loans have been transferred to Capquest for management.
Demystify Podcast: Core banking modernisation and BaaS with Miguel Santos and Dave Feuer, Galileo
Real examples of several innovations only made possible by a modern core, and more!
The FCA’s Consumer Duty clamps down on unfair savings rates
The regulator’s 14-point plan seeks fairer interest rates on UK savings accounts.
Allfunds acquires local paying agent business of Iccrea Banca
The acquisition enables Allfunds to develop its position in Italy as a local paying agent business.
Digital transformations: the negative impact of heavyweight governance
How do we mitigate the negative effects of an onerous governance process on digital transformations?
Vanquis Banking Group buys UK smart money app Snoop
Snoop leverages AI and open banking technology to provide personalised overviews of spending habits.
South Korea’s Finda bags $37m Series C funding
JB Financial Group took part in the round as a strategic investor, acquiring a 15% stake in the company.
US fintech start-up Croissant launches with $24m funding
Croissant integrates into merchants’ shopping experiences to offer customers guaranteed buyback value at checkout.
Open Banking Expo expands to two days and co-locates with the Open Banking Expo Awards this October
Open Banking Expo returns to the Business Design Centre in London on 18-19 October.
The Republic of Palau taps Ripple for first stablecoin pilot
The pilot is expected to last for three months between selected merchants and government employees.
German fintech start-up Monite bolsters leadership team with new hires
The firm has appointed a new chief product officer, chief of staff, and head of marketing.
Mercury Financial secures $200m debt facility to expand credit card business
The facility has been provided by client funds managed by US investment banking company Neuberger Berman.
ING names Görkem Köseoğlu as new chief technology officer
Görkem Köseoğlu is to assume the position of chief technology officer from 1 September 2023.
Upgrade snaps up BNPL vendor Uplift for $100m
California-headquartered Uplift provides BNPL payment and credit products to the travel industry.
Principles, practices and persistence: the Consumer Duty deadline arrives
The regulation is set to completely transform the relationship between financial services firms and consumers.
The Philippines’ UnionBank taps NCR to manage its ATMs
The Philippines’ ninth largest bank currently operates over 400 ATMs across the country.
FinTech Futures: Top five stories of the week – 28 July 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: Giraffe, eflow Global, Galaxy Ventures & more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
UK challenger Monument names Fiona Pollard as new chair
Pollard replaces Niall Booker, who indicated his intention to step down from the position last year.
Pay.UK reveals big jump in number of current account switches in the UK over last 12 months
Pay.UK’s Current Account Switch Service has seen a 50% increase in switches compared to last year.
Robinhood reignites plans for UK expansion with chief exec hire
According to an FCA filing, Jordan Sinclair has been appointed as UK chief executive for Robinhood.
You’ve checked the DEI box. Now what?
To truly transform is to have DEI values infused in the DNA of your company.
Trintech snaps up Fiserv’s financial reconciliation business
Trintech hopes the deal will “act as a springboard for innovation” for its accounting automation platform.
BlackRock and Jio Financial Services to launch joint asset management venture in India
The announcement follows JFS’s recent demerger from Reliance Industries.
Germany’s N26 appoints new chief risk officer, Carina Kozole
Kozole, who will begin her new role later this year, has spent the last 17 years at UniCredit Group.
Episode Six names former HSBC exec as new chief revenue officer
Brian Muse-McKenney becomes Episode Six’s first CRO.
US earned wage access start-up Immediate bags fresh funding, expands credit facility
The Alabama-based firm aims to “improve financial wellness and eliminate cycles of debt for employees”.
Settle secures $145m credit facility from Silicon Valley Bank
Settle will use the expanded facility to boost its lending to e-commerce and consumer brands.
The light of dead stars
The light of dead stars looks the same as any other. But it doesn’t prove the star is still thriving.
Banking Tech Awards USA 2023 winner: SavvyMoney – the power of partnerships in fintech & banking
Digging into why so many FIs are turning to fintechs versus developing their own solutions.
GAT Investment Bank taps Currencycloud for new app launch
The app will leverage Currencycloud’s multi-currency virtual accounts for cross-border payment services.
NatWest chief exec Alison Rose steps down with immediate effect
The group’s board of directors says Rose has “agreed by mutual consent to step down”.
How telco software giant Amdocs is looking to make waves in fintech
FinTech Futures speaks with Amdocs’ Zur Yahalom about the company’s move into the fintech space.
Wealthtech GBST strengthens cloud portfolio with Advice Intelligence acquisition
The deal follows GBST’s acquisition of WealthConnect, the Salesforce-based CRM solution, in May.
Italy’s Mediobanca partners Founders Factory for new UK fintech venture studio
The joint venture is central to the Italian bank’s strategic plan to strengthen its technology ecosystem.
Vietnam’s OCB taps Backbase for personalised digital banking solution
The project implementation will be led by Backbase’s partner SmartOSC.
Q&A: Andrew McKibben, Bank of America – resilience, automation tech & connected banking
Discussing the changing relationship between fintechs and banks amid an increasingly interconnected tech landscape.
