Danish fintech Pleo bags €40m debt financing from HSBC Innovation Banking
The business spend management firm intends to expand its credit offering further across Europe.
Lending
Barclays reportedly leading the race to take over GM credit card programme from Goldman Sachs
Barclays was a bidder for the programme back in 2020 before Capital One eventually sold it to Goldman.
Digital lending platform Blend Labs bags $150m funding from Haveli Investments
Blend will use the cash to repay “all amounts payable” under its existing credit agreement.
State of play: the future of credit
Alternative data sources will be key to ensuring the future of credit is affordable, inclusive, and accessible.
Piraeus Bank and Natech prepare to launch neobank Snappi in Greece
The partners previously announced the development of the independent neobank in April 2022.
UK online SME lender Capify bags £100m credit facility
The new facility from Pollen Street Capital will support the lender’s future growth plans.
Republic First Bank closed and sold to Fulton Bank by US regulators
Fulton Bank will “assume substantially all of the deposits and purchase substantially all of the assets” of the bank.
UK property lender Together taps nCino for cloud banking solution
Together claims to have a loan book exceeding £6.8 billion, originating over £200 million in loans monthly.
British Caribbean Bank triggers core banking overhaul with Finastra
The lender has opted to transition its core to the vendor’s Fusion Essence solution.
ICYMI fintech funding round-up: Toku, Tabs, Kamina, Lemon and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
FinTech Futures: Top five news stories of the week – 19 April 2024
Our pick of the top fintech news stories this week includes Klarna, Ramp, Zopa and more.
Klarna to launch credit card offering in the US “over the next few months”
The US is set to be Klarna Card’s fourth market of entry, following earlier launches in Sweden, Germany and the UK.
Leeds Building Society opts for Mambu core banking system in tech overhaul
The building society is to leverage its Mambu core to build new mortgage and savings products.
BNPL firm Laybuy reportedly on the lookout for new buyer to potentially go private
The New Zealand-based firm is currently listed on the Catalist stock exchange with a value of around $5.4 million.
German fintech start-up Finmid emerges from stealth with €35m in funding
The fintech claims it provides “a much-needed alternative to banks for European SMBs looking for financing support”.
Myanmar’s KBZ Bank taps FinbotsAI for credit risk management solution
KBZ Bank is to deploy FinbotsAI’s credit modelling solution, CreditX.
United Bank in Alabama taps Jack Henry for digital upgrade
The bank is to adopt the vendor’s LoanVantage solution and Banno Digital Platform.
Alisa Bank snaps up invoice financing fintech Puro Finance to bolster SME services
Puro Finance is expected to operate as a subsidiary of the bank upon closure of the deal in May.
Empower Finance strikes deal to buy Petal with Cashalo acquisition completed
The deal for Petal is expected to close later this quarter for an undisclosed sum.
Busey Bank launches commercial credit cards with Corserv
The bank is delivering the cards using Corserv’s account issuer programme.
French fintech Linedata acquires AI software developer DreamQuark
Linedata says the purchase will extend its reach to the “critical sectors” of asset management, insurance and credit.
ICYMI fintech funding round-up: Zeepay, Coadjute, Hello Alice, CertifID and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
India’s Electronica Finance Limited lands $48m in Series B round
The round was led by UK-based LeapFrog Investments and supported by Aavishkaar Capital.
Debt financing platform Scayl emerges from stealth with €100m backing
The Swedish start-up says the financing will “immediately” be made available to fintech lenders through its platform.
Oman Housing Bank selects Temenos for core banking upgrade
The OHB offers government-subsidised housing loans to low and middle income groups.
FinTech Futures: Top five news stories of the week – 29 March 2024
Our pick of the top fintech news stories this week includes Robinhood, Mastercard, Visa, Ant Group and more.
Discover Financial Services exec Michael Rhodes to take the lead at Ally Financial as new CEO
Ally Financial has been on the hunt for a new CEO since the departure of Jeffrey Brown in January.
Risk management specialist Abrigo snaps up TPG Software for investment accounting tech
The acquisition will boost the growth of Abrigo’s existing suite of technical accounting solutions.
New core banking system, Vilja, comes to the UK from Sweden
Vilja is entering the UK market via a partnership with local mortgage origination platform, Mast.
UK’s Co-operative Bank to cut 400 jobs as part of cost reduction programme
Due to impact 12% of its total workforce, the proposed job cuts will take effect from 7 May.
Two US fintechs to pay a total of $59m to settle FTC charges related to PPP
Biz2Credit will pay $33 million and Womply will pay $26 million to settle the two separate cases.
Colombian BNPL firm Addi lands $86m in equity and debt funding
The round consists of $50 million in debt financing and $36 million in equity.
Finalists announced for Banking Tech Awards USA 2024
Winners of this year’s awards will be announced at a gala dinner ceremony in New York on 30 May.
Mobility fintech Moove secures $100m Series B funding
The round has raised the Nigerian fintech’s valuation to $750 million.
April taps Dutch fintech Ohpen to power its UK mortgage offering
The London-based lender provides longer term fixed-rate mortgages and soft launched last month.
Stax Payments founders launch business credit decisioning platform Worth AI
Sal Rehmetullah and Suneera Madhani will act as co-CEOs of the start-up, which is set to launch this month.
ICYMI fintech funding round-up: Tuum, DigiMaaya, Youverify, Trampay and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Lloyds Banking Group partners ApTap for bill management tool
The tool will be integrated into Home Wise by Lloyds Bank and HelloHome by Halifax.
Levenue snaps up MidFunder to broaden financing in Switzerland
The acquisition will enable Levenue to boost the footprint of its revenue-based financing marketplace.
Bank Muamalat signs multi-year partnership with Google Cloud to boost digital transformation
The bank has tapped Google for solutions in cybersecurity, data, marketing and AI, among other areas.
