Strategy is good, but constraint awareness is better
Be honest and mindful of your constraints and make choices that mitigate their impact.
Financial Services/Finserv
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.
FIS confirms deal to sell majority stake in Worldpay to GTCR for $11.7bn
The transaction is expected to close by Q1 2024, subject to regulatory approvals and closing conditions.
US fintech Clair lands $25m equity funding to power on-demand pay
The start-up has also secured a $150 million consumer lending program with banking partner Pathward.
ICYMI fintech funding round-up: Numarics, Zuvy, Shinkansen and Chari
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Rimes supports digital transformation of Jana with Matrix solution
Jana has gone live with the solution in an effort to streamline and automate its operational processes.
SumUp taps Form3 for access to UK Faster Payments, appoints CPO
SumUp has also appointed Anna Kuriakose as its new chief product officer (CPO).
Let’s get physical!
The irony of the next wave of tech advancement is that it may force us back into focusing on the real world.
Video: Strands and Akbank at Money20/20 Europe – Business financial management for SMEs
Strands and Akbank discuss how they are working together to support SMEs with their banking needs.
DBS launches e-CNY merchant collection solution in Mainland China
With the solution, corporate clients of DBS China will be able to collect payments from their customers in e-CNY.
Nine UK banks tap Mastercard for new AI-powered fraud risk solution
Lloyds Bank, NatWest, Monzo and TSB are some of the UK banks partnering with Mastercard for its latest offering.
Moneycorp appoints Velizar Tarashev as new CEO
Tarashev, who joined Moneycorp as CFO in 2021, succeeds Mark Horgan, who will step down after 12 years as CEO.
Guide: How fintechs can win digital trust in a new era of authentication
This free how-to guide from LexisNexis Risk Solutions provides need-to-know insights about how to win digital trust.
Indonesia’s Allo Bank taps Tencent Cloud to enhance digital banking services
Tencent Cloud will deploy its database management system TDSQL, to help the bank manage data efficiently.
Assuming you are not dead
Open-ended plans rarely come good. When do you know the work is over?
Mbanq’s BaaS offering supports US debut of SME-focused Cheqly
Cheqly’s services include business accounts, physical and virtual Visa cards, ACH payments and wire transfers.
South Korea sets out measures to promote competition in banking sector
Financial authorities will work to bring about fair competition by allowing more players to enter the market.
UK EMI The Payment Firm set to launch this summer
Services are expected to include cross-border payments, merchant services and card issuance, among others.
Turkish fintech Papara acquires Spanish neobank Rebellion Pay
Papara calls the acquisition a “crucial step” in its European expansion strategy.
Jirnexu co-founders step down from leadership positions at the company
The company’s co-founder Hann Liew confirmed his and Lucas Ooi’s decision this week.
