Monese to offer “coreless” banking platform through new entity, XYB
XYB is available in the UK and Europe, with plans to also launch in North America and Asia Pacific.
Financial Services/Finserv
HSBC unveils AI Markets for institutional investors and corporates
AI Markets “has been built from the ground up with user experience in mind”, HSBC says.
US proptech Setpoint acquires Resolute to “revolutionise fintech lending”
Resolute is a due diligence provider focused on single family rental (SFR) and residential transition loans (RTL).
UK payments regulator PSR unveils new-look executive team
Oliver Hanmer joins as head of supervision and compliance monitoring, completing the PSR exec team hires.
Restaurant365 lands $135m funding at unicorn valuation
The round takes the Restaurant365 valuation to over $1 billion.
NatWest buys back shares worth £1.26bn from the UK government
The sale is the sixth block sale of shares since it rescued the bank during the financial crisis of 2008.
India’s PhonePe secures another $100m from General Atlantic
With the latest funding, PhonePe has raised a total of $850 million in the current round.
Wise CFO Matt Briers to leave money transfer firm next year
Wise will start the search for its next CFO immediately.
Sonata Bank taps Plinqit to help restaurant workers meet savings goals
Through the partnership, Sonata will provide customers with ways to save and plan for future financial needs.
Airbnb taps Stripe to enable bank payments for US customers
The feature will be available for customers with a US bank account.
Sonata Bank aims to boost quick service restaurant employees’ financial health
The challenger has raised more than $20 million in its initial round of funding.
American Bank & Trust taps Marstone for digital wealth management offering
With the partnership, the bank aims to retain existing client deposits and attract new retail bank customers.
Singapore’s Whampoa Group selects Bahrain as HQ for new digital bank
Launching end of 2023, the new digital bank aims to support the adoption of digital assets worldwide.
Bank of England reportedly planning to reject Revolut banking licence
The PRA reportedly intended to issue a warning notice to Revolut over its balance sheet.
Meridian Bank taps Corserv to launch business credit card programme
With Corserv, Meridian Bank will be able to offer credit cards with a variety of APRs, rewards and features.
Banking on data
As a coder, I always thought that software was key, but I soon realised the value was really in the data.
Financial health app VeraScore names Scott Waldron as new president
In his new role, Waldron will lead VeraScore’s business development and customer acquisition strategies.
Westpac New Zealand taps Finastra to accelerate ISO 20022 compliance
Finastra says its tech will enable the bank to leverage the benefits of ISO 20022’s data-rich MX messaging format.
Private credit marketplace platform Percent lands $29.7m Series B funding
Percent will use the funding to further develop its platform and propel its next phase of growth.
North East Small Finance Bank migrates to new core, Turing CBS from M2P
Turing CBS is understood to have replaced FIS’ Profile core banking system at NESFB.
Credit union North Carolina SECU selects NCR for digital banking upgrade
Using NCR Digital Banking, SECU will be able to upgrade its mobile and online banking capabilities.
Standard Chartered partners Worldpay from FIS to expand payment collections offering
With the partnership, the bank aims to expand the footprint of its solution across Asia and other markets.
Of convertibles and agile rituals
With agile, like with most things in life, the lesson is: do it right, or don’t do it at all.
Ripple acquires Metaco in $250m deal
Ripple’s CEO says the deal is “monumental for our growing product suite and expanding global footprint”.
Open finance specialist Fabrick acquires UK paytech Judopay
Fabrick says the deal is “a major step forward in its internationalisation process and expansion in the UK”.
German insurtech Wefox secures additional $55m equity funding and $55m credit facility
The company raised the new funding at an unchanged valuation of $4.5 billion.
Norwegian paytech EedenBull names Eilin Schjetne as CEO
As CEO, Schjetne aims to scale the firm in a bid to make EedenBull Norway’s first fintech unicorn.
Binance set to withdraw from Canada citing new guidance
Binance says it is joining other “prominent” crypto businesses in “proactively withdrawing” from Canada.
Procurement fintech Zip secures $100m Series C funding at $1.5bn valuation
Founded in 2020, Zip helps companies streamline B2B purchasing and manage business spend.
ZestMoney founders step down following failed acquisition by PhonePe
Lizzie Chapman, Ashish Anantharaman, and Priya Sharma are all set to leave the company.
Intapp acquires employee compliance software firm Paragon Data Labs
Intapp says the acquisition will augment its risk management and compliance offering.
Save the Date: FinTech Futures’ 40th Anniversary Summer Party – 6 July 2023
Hear Julie Ashmore-Dann about her journeys to the North and South Poles and climbing Mount Kilimanjaro.
Redwood Bank appoints Ashraf Piranie as chief financial officer
Piranie brings more than 25 years of financial services experience to his new role.
NewDay partners ClearScore’s D One for open banking credit assessments
D One’s approach opens credit to those with limited credit histories and supports responsible lending.
Barbados challenger Sagicor Bank launches on Mbanq’s BaaS platform
Through Mbanq, Sagicor Bank aims to offer customers “branchless” digital financial services.
Cartoon: Changed circumstances
A new cartoon illustrating the journey that once high-flying tech unicorns are facing in the current climate.
Demystify Podcast: Demystifying BaaS with Kelvin Tan, Standard Chartered Bank
What is needed within a large bank to ensure a BaaS proposition can be conceived, deployed and nurtured?
UK pensions fintech Smart lands $95m Series E funding
Smart plans to use the funds to expand globally, complete acquisitions and invest in its Keystone platform.
African fintech M-Kopa secures $200m debt financing and $55m equity funding
The debt financing was led by Standard Bank Group and the equity round by Sumitomo Corporation.
Crypto and banking app Tap Global names Kriyakant Patel as new CEO
Patel joins from Transact Payments, where he has served as CEO for the last nine years.
