Cotribute tapped by Clearwater Credit Union to streamline digital account opening and loan origination processes
The partnership will see Clearwater leverage Cotribute’s consumer and business digital account opening modules.
Lending
Mexico’s Ziff acquires digital lending start-up Arrenda
The acquisition sees Ziff take control of the start-up’s flagship lending platform, Adelanta.
PayPal extends payment options for online SMEs with new solution
PayPal Complete Payments launches this week to online sellers in 22 markets worldwide.
Mexican microlending start-up Baubap secures $120m in debt financing
The fintech intends to leverage the debt financing to extend its lines of credit to the underserved.
Blackstone buys $1.1bn of US credit card debt from Barclays
Barclays says it will use the proceeds of the sale to fund an extension of its US lending activities.
FinovateEurope 2024: Tech demos, AI and tokenisation dominate day one
Industry innovators and thought leaders gathered in London on Tuesday for the opening day of FinovateEurope.
Bank Danamon partners Helicap to bring growth capital to Indonesia’s financially underserved
The duo are hoping to create a “one-stop solution” for non-dilutive growth capital.
Nick Harding steps down as CEO of UK lender Fluro
Writing on LinkedIn, Harding says he will announce his “next professional adventure shortly”.
Teachers Federal Credit Union partners Corridor Platforms for credit decisioning tech
The New York-based credit union has signed for Corridor Platforms’ digital decisioning platform.
Commerce Bank taps Temenos for loan origination solution
Commerce claims Temenos will enable a “five minutes or less” end-to-end loan origination process.
FHLBank of Pittsburgh selects SimCorp Dimension for investment management
The bank has signed an eight-year agreement with the vendor for SimCorp Dimension.
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.
Joy Cheng named as new head of Citi Commercial Bank in Hong Kong
Cheng first joined Citi back in 1993, and has since risen through the ranks of its corporate banking division.
US Bank partners Pagaya Technologies for inclusive lending with AI
The bank is to instate Pagaya’s AI tech within its Simple Loan function.
India’s Unico Housing Finance secures multi-application Oracle Cloud Infrastructure deal
The integration marks the start-up’s attempt to improve the market agility of its digital loan services.
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.
Nigerian bank Carbon acquires Vella Finance, launches new AI banking platform for SMEs
The platform will enable Nigerian businesses to access loans and AI-powered transactional insights.
Deadline extended for Banking Tech Awards USA nominations
You now have until Friday 23 February to get your nominations in.
Oregon State Credit Union partners Bankjoy for account opening and loan solutions
The credit union has signed for the vendor’s online account opening and online loan application product suite.
ID Finance lands $150m debt financing headed by i80 Group
ID Finance claims the financing marks its “largest ever financing round” to date.
Westpac taps Dancerace to upgrade its invoice finance operations
Dancerace says its tech will make it easier for Aussie businesses with unpaid invoices “to receive their cash faster”.
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.
ICYMI fintech funding round-up: Kafene, General Index, Mesh and Netcetera
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Mexican banking heavyweight Banorte taps SAP Fioneer to launch digital bank Bineo
The app-based offering launched this week with account and lending services.
Southern California Bancorp and California BanCorp trigger $233.6m “true merger of equals”
The holding companies currently control Bank of Southern California and California Bank of Commerce.
Offa taps Finova to power new Sharia-compliant property lending platform
The move comes as part of a £1 million investment by Offa to upgrade its IT systems.
Santander names Petri Nikkilä as new Openbank CEO
Nikkilä joins Santander from ING, where he is currently serving as head of global retail transformation.
Amplifi Capital lands £22.5m funding to fuel Reevo Money expansion
Reevo Money was launched by Amplifi Capital in 2022 and is the firm’s second customer-facing brand.
What the FinTech? | S.5 Episode 1 | The growth of fintech in Africa
In this episode of the podcast, we’re joined by Hangwi Muambadzi, Principal and Head of Africa at CommerzVentures.
UK challenger Tandem appoints former JP Morgan exec Maria Khan as director of product and digital
The bank says Khan will work to develop and cultivate “green digital banking solutions”.
YouLend secures £4bn private securitisation deal with JP Morgan
The deal will enable YouLend to provide additional revenue-based financing to SMEs.
BNPL lender Sunbit secures $310m debt facility with Citi and Ares Management Credit
The LA-based fintech says it will use the facility to attract and retain more customers.
Mondu gears up for European expansion with €30m debt financing boost
Mondu’s credit facility with VVRB now stands at €50 million following an earlier deal in 2022.
Bilt Rewards more than doubles its billion-dollar valuation with new $200m equity investment
Bilt Rewards was previously valued at $1.5 billion following a $150 million funding round back in 2022.
US fintech Kashable raises $25.6m Series B funding
Californian venture capital firms Revolution Ventures and Moneta Ventures led the round.
Ally Financial sells POS financing business to Synchrony
Synchrony says the acquisition will also include $2.2 billion in loan receivables.
BNPL firm Billink fuels European expansion plans with $32m funding from Varengold Bank
The Dutch paytech is looking to expand its presence and break into the neighbouring market of Germany.
SME lender FundPark doubles credit facility with Goldman Sachs to $500m
The $250m expansion builds on an earlier $250m ABS facility secured by the fintech in April 2022.
US private equity firm WCAS buys majority stake in EquiLend
WCAS will also commit $200 million to fuel the future growth of EquiLend.
FinTech Futures: Top five news stories of the week – 19 January 2024
Our pick of the top fintech news stories this week includes Citi, Sainsbury’s Bank and more.
