Nottingham Building Society taps MQube for AI-powered mortgage origination platform
MQube claims its Origo solution can assess around 20,000 data points in real time.
Mortgage
UK lender Bevan Money announces new CEO to guide final regulatory authorisation stages
Bevan applied for a banking licence last May, with plans to provide mortgages for public sector workers.
Raymond James Bank to deploy ICE Mortgage Technology’s lending solution Encompass
The software will support the origination of mortgages for high-net-worth borrowers.
Real estate fintech start-up Downpayments launches in Florida with $32.8m in debt and equity funding
The start-up seeks to provide property investors with interest-free down payments on their next home purchase.
UK fintech Chetwood Financial appoints Julian Hynd as new COO
Hynd previously spearheaded the commercial transformation of UK-based Redwood Bank.
HSBC reportedly enters race to buy Tesco’s banking business
Sky News first reported Tesco Bank’s interest in exploring a sale in February last year.
European Central Bank highlights continued sector-wide risk in latest Financial Stability Review
The ECB says residential and commercial real estate markets face “downside surprises” due to inflation.
UK’s OneSavings Bank partners nCino to streamline lending operations
The bank aims to increase efficiency in its underwriting and loan origination processes.
Francesca Carlesi steps down as CEO of digital mortgage lender Molo
Carlesi is to depart Molo, which she has led since its inception in 2018, on 25 November 2023.
Central Bank of Ireland proposes minimum knowledge requirements for credit union workers
The reforms will take effect from 1 October 2024 and will incur a four year transition period.
UK mortgage lender Perenna raises $52m on the back of its unrestricted banking licence
The equity investment comes from IAG Silverstripe and the lender’s existing backers.
Atom Bank taps climate tech firm Kamma to evaluate mortgage book emissions
Kamma’s tech will provide a “deep review” of the climate impact of Atom’s mortgage and lending activities.
FinTech Futures: Top five stories of the week – 8 September 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
UK start-up Perenna secures unrestricted banking licence from FCA and PRA
The London-based start-up becomes one of the first firms to secure an unrestricted bank licence in 2023.
Pepper Money agrees to buy HSBC’s New Zealand mortgage portfolio
On completion, the acquired portfolio is expected to be worth NZ$1.4 billion in outstanding balance.
LC Financial Holdings completes acquisition of BCM Global for undisclosed sum
LC Financial Holdings will help BCM Global expand its business and develop new services across Europe.
Better.com’s share price stumbles on Nasdaq debut
The New York-based digital mortgage lender went public through a SPAC merger this week.
Italy’s government to tax banks on profits from interest rate rises
The Italian parliament has 60 days to bring the proposed tax into law.
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.
Q&A: David Morris, CCO of Yorkshire Building Society – automation, digitalisation & service
David Morris discusses automation, its impact on customer service and the changing nature of branch-based banking.
Norway’s SPK selects Mambu and Knowit to support its upcoming housing loan solution
Mambu’s cloud technology and Knowit’s loan origination solution are to support the SPK’s housing loan offering.
UK challenger Tandem Bank secures £20m in funding
Tandem’s CEO says the capital “will put extra momentum behind our green lending proposition”.
Melton Building Society taps Finastra for digital transformation
This is the third building society client deploying Finastra’s Essence solution.
LendInvest secures £500m funding partnership with Chetwood Financial
LendInvest says the funding will fuel its buy-to-let and residential mortgage products.
ICYMI fintech funding round-up: Kanastra, Majority & Cloudbankin
Our weekly fintech round-up for you to get the latest funding news from around the world.
FinTech Futures: Top five stories of the week – 19 May 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Redwood Bank appoints Ashraf Piranie as chief financial officer
Piranie brings more than 25 years of financial services experience to his new role.
Barbados challenger Sagicor Bank launches on Mbanq’s BaaS platform
Through Mbanq, Sagicor Bank aims to offer customers “branchless” digital financial services.
ICYMI fintech funding round-up: m3ter, Niro, Tembo and more
Our weekly fintech round-up for you to get the latest funding news from around the world.
SoFi acquires Wyndham Capital Mortgage in all-cash deal
The acquisition includes both “talent and technology” and is designed to help SoFi scale.
Metro Bank uses acquisition as a strategy to speed up innovation
A closer look at how Metro Bank has adapted its approach to innovation.
Bluestone to sell UK specialist mortgage business to Shawbrook
The deal is expected to close in Q2 2023 and the business will continue to trade under the Bluestone brand.
Shawbrook Bank taps Pegasystems for automated underwriting solution
Pega claims its low-code platform will save Shawbrook underwriters 1,500 hours a month.
Wells Fargo lays off hundreds of its mortgage bankers
The job cuts were made in response to “significant decreases” in mortgage volumes, Wells Fargo says.
Property analytics firm CoreLogic acquires mortgage tech platform Roostify
The acquisition will see CoreLogic integrate Roostify’s platform with its own data, analytics and workflow solution.
Co-operative Bank reportedly eyeing Sainsbury’s Bank’s £650m mortgage book
The Co-operative Bank is the frontrunner amid a bidding war being run by consultancy Deloitte, Sky News reports.
Banking Tech Awards 2022 Winner: Finova – the mortgage market is in a tangle & we need new tools to fix it
Combine algorithmic price optimisation with powerful ML techniques, and you’ll have a robust tool for performance analytics.
Nano sells home loan book to AMP Bank as it pivots to tech focus
Nano plans to wind down its home loan services and focus on providing technology to financial services companies.
New savings app for homeowners in the UK: Sprive
Sprive’s AI mortgage assistant, available through a mobile app, helps customers pay off their mortgage faster.
UK mortgage lender LiveMore bags £250m credit facility from Citi
The new funding facility will enable LiveMore to increase loan originations and grow its portfolio.
