Klarna picks New York for upcoming IPO
Klarna has not yet disclosed the number of shares or expected price range of the offering.
Lending
Prodigy Finance inks $310m funding facility with US DFC for cross-border student loans
Prodigy previously sourced a $250 million facility with the DFC in 2020.
Modifi raises $15m, inks MoU with Japan’s SMBC to support SMEs with cross-border financing solutions
Modifi and SMBC will seek to assist Asia’s SME exporters in expanding international trade operations.
UK SME lender Iwoca bags £200m debt funding package from Citi and Waterfall Asset Management
Iwoca plans to double its Flexi-Loan limit to £1 million for medium-sized businesses.
Banking Technology Magazine November 2024 issue out now
Cover story: GOING GREEN – Why sustainable finance is vital.
FinTech Futures: Top five news stories of the week – 8 November 2024
Our pick of the top fintech news stories this week includes Bank of New Zealand, Airwallex, Griffin and more.
ICYMI fintech funding round-up: Groov, Fundcraft, VibePay, and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
FTC takes action against US neobank Dave for allegedly “using misleading marketing”
In a statement, Dave says it intends to “vigorously defend ourselves”.
Bumper enhances dealer partner insights with acquisition of AutoBI
The deal comes after Bumper raised a $48 million Series B in January.
BNPL lender Sunbit lands $355m debt warehouse facility
This is Sunbit’s second debt warehouse facility in 2024, following its $310 million deal in January.
UK’s Recognise Bank lands £25m investment amid leadership transition
CEO Jean Murphy will step down after two years, succeeded by Nomo Fintech’s Simon Bateman.
US BNPL fintech Affirm launches pay-over-time options for UK consumers
Affirm’s UK country manager Ruth Spratt says the UK is “the perfect place for the next phase of Affirm’s journey”.
US lender PowerPay lands $60m corporate bond led by KeyBank
PowerPay claims to have processed over $8 billion in loans since its inception in 2017.
Afin Bank partners with Thought Machine and Vacuumlabs to power digital launch
Last week, Afin Bank obtained an Authorisation with Restrictions (AwR) banking licence.
Kapitus snaps up Ten Oaks Commercial Capital, launches equipment financing arm
Kapitus serves as a direct lender and marketplace, providing over $6.5 billion to nearly 55,000 businesses.
October 2024: Top five fintech partnership stories of the month
FinTech Futures takes a look back at five of the top fintech partnership stories of the month.
October 2024: Top five core banking stories of the month
FinTech Futures takes a look back at five of the top core banking stories of the month.
FinTech Futures: Top five news stories of the week – 25 October 2024
Our pick of the top fintech news stories this week includes Afin Bank, Zip, Socure and more.
ICYMI fintech funding round-up: Authologic, Klasha, CardFlight, and Salt
A handy round-up of the recent funding endeavours of fintech companies across the globe.
EquiLend names former ION head Rich Grossi as new CEO
Grossi has previously served as CEO of Openlink Financial and ION Corporates.
Tompkins Community Bank deploys NCR Atleos’ ATM-as-a-Service
NCR Atleos will now handle all management and processing for Tompkins’ self-service channels.
Afin Bank lands AwR banking licence, plots 2025 launch of mortgage offering for UK’s African diaspora
Afin Bank has now entered the mobilisation stage and plans to begin lending next year.
LendInvest renews £300m warehouse financing deal with HSBC, Barclays, and BNP Paribas
In September, LendInvest also increased its funding agreement with JP Morgan by £500 million.
Nigeria’s OmniRetail acquires SME payments platform Traction Apps
OmniRetail is a start-up aiming to digitise traditional e-commerce through its suite of software products.
National Bank of Fujairah expands iGTB partnership to implement eMACH.ai Cloud on Microsoft Azure
iGTB debuted its new Microsoft Azure-managed digital transaction banking solution earlier this month.
FinTech Futures: Top five news stories of the week – 18 October 2024
Our pick of the top fintech news stories this week includes TD Bank, Barclays, Klarna and more.
UK government looks to strengthen BNPL protections with launch of latest consultation
The consultation proposes clearer information for BNPL consumers, as well as stronger dispute rights.
Klarna sells UK loan portfolio to hedge fund Elliott Advisors in £30bn deal
Klarna says it will still own “all consumer-facing activities, including underwriting and servicing”.
Philadelphia’s Citadel Federal Credit Union agrees to pay $6.5m to settle allegations of redlining
This settlement is the DOJ’s first redlining resolution with a credit union.
Navigant Credit Union partners Baker Hill to boost commercial loan operations
Baker Hill’s Commercial Lending solution will be integrated directly within Navigant’s Fiserv DNA core.
FinVolution expands into Pakistan with Daira launch
Daira is a new lending platform offering low-interest, flexible loans for customers in Pakistan.
SoFi secures $2bn deal with Fortress Investment Group to expand loan platform business
The deal will help fuel the company’s personal loan origination activities.
Best Egg lands $500m purchase facility to expand personal loan product
The purchase facility builds on the company’s $225 million Series E round completed in March 2022.
ESAF Small Finance Bank replaces FIS’ Profile with Oracle Flexcube as new banking core
ESAF’s implementation of Flexcube has been underway since August.
LendingClub and Pagaya acquire intellectual property of shuttered fintech Tally
Tally closed in August, citing insufficient funding as the primary reason for its shutdown.
Sibos 2024: The future of sustainable finance – opportunities, challenges, and the road ahead
Sustainable finance is no longer an optional add-on for banks—it is central to their future competitiveness.
What the FinTech? | S.5 Episode 17 | The growth of BNPL and the future of credit reporting
In this episode of the podcast, we’re joined by Liz Pagel, SVP and Consumer Lending Business Leader at TransUnion.
Mercury secures $100m Natixis CIB credit warehouse to fund IO card programme
The warehouse will apply to Mercury’s credit card programme, which launched in 2022.
Banking Technology Magazine October 2024 issue out now
Cover story: QUANTUM LEAP OF FAITH – Preparing for the advent of Q-Day.
Ex-TNEX chief Bryan Carroll heads new Credit-Decisioning-as-a-Service start-up SMEApprove
The platform seeks to assist banks in lending to underserved SME clients across emerging markets.
