Raisin Bank acquires payments division from Bankhaus August Lenz
The acquisiton, for an undisclosed sum, will be headed up by Bankhaus payments veteran Mirko Siepmann.
Banking-as-a-Service/BaaS
Mode Eleven selects Finzly’s payment core for BaaS platform
Finzly says its tech will give Mode Eleven “full control over its payment processes”.
Making the most of Banking-as-a-Service
Banks that are expressing keen interest in the BaaS model must implement and scale it with alacrity.
Virgin Money in three-year deal with Trade Ledger to digitise business lending
“At the heart of the partnership is the delivery of a digital decisioning platform,” Trade Ledger says.
MENA’s BaaS provider NymCard raises $22.5m funding
This venture round takes NymCard’s total funding to over $35 million.
Temenos gains new paytech client in the UK, Optimus Cards
Temenos’ tech was chosen for its proven reliability, resilience, and flexibility, says CEO of Optimus Cards.
LHV Group lands £30m to capitalise new UK bank
Part of the proceeds from the fundraise will be used to capitalise LHV’s new UK bank.
Video: Wells Fargo at FinovateSpring 2022 – BaaS and open banking
FinTech Futures chats with Reetika Grewal of Wells Fargo to discuss open banking and BaaS.
Video: JP Morgan at FinovateSpring 2022 – The growth of open banking
FinTech Futures chats with Eileen Holcomb of JP Morgan to discuss the growing adoption of open banking.
Card-issuing platform Marqeta partners Evolve Bank & Trust
Evolve will support the full range of Marqeta’s card programme management capabilities.
Singapore’s MatchMove acquires Shopmatic for $200m
Post-acquisition, Shopmatic CEO Anurag Avula will continue in his role.
BaaS fintech Griffin taps Clausematch for banking licence applications
Clausematch simplified the application to the Prudential Regulation Authority and the Financial Conduct Authority.
Solarisbank appoints new CIO, CTO dual leadership team as firm scales
Solarisbank says the close-knit dual leadership will “master the challenges of a growing tech organisation”.
Embedded banking models and the rise of Service-as-a-Bank (SaaB)
It’s high time that banks and credit unions stop seeing competition only as a threat.
BaaS start-up Unit raises $100m Series C, reaches $1.2bn valuation
The company intends to use the capital to “make it even easier for companies to launch and succeed”.
Westpac partners 10x Banking on new platform for institutional clients
10x Banking will provide the core technology for the new venture.
Brazilian fintech Dock lands $110m growth funding at $1.5bn valuation
Dock says the new capital will turbocharge its product development and international expansion plans.
Deloitte hires Bob Savino to offer new BaaS solution for financial institutions
Savino will head up a fintech start-up team as the consultancy looks to bring a new BaaS solution to market.
First Bank partners Finzly to offer payments services to business customers
First Bank says Finzly’s Payment Hub “gives us the speed and agility to offer a fintech-like payment experience”.
Europe fintech funding round-up: Previse, Qonto, Volume, Tuum & Monspire
A handy round-up of the recent funding endeavours of fintech companies across Europe.
UK challenger Starling secures £130.5m funding at £2.5bn valuation
The challenger plans to “build a war chest for acquisitions”.
US fintech Bond teams up with Evolve Bank & Trust for BaaS offering
The partnership will offer new debit and credit card capabilities for businesses and consumers.
BaaS platform NovoPayment lands $19m Series A funding
The round was led by Fuel Venture Capital and IDC Ventures.
MSU Federal Credit Union taps Nymbus to launch new digital brand for alumni
New digital brand AlumniFi is targeted at Michigan-based alumni.
Microsoft teams up with Finastra to offer SME lending through Dynamics 365
Microsoft says the partnership will drive value for SMEs, “the backbone of job creation in the world’s economy”.
Kevin Guy joins UK challenger MoneeMint as COO
Guy has 36 years’ worth of experience across banking and financial services.
Challenger bank Chetwood acquires core banking tech vendor Yobota
The two companies were founded alongside each other in 2016 but developed as separate entities.
UK fintech Monese hires Alistair Bennett as chief product officer
Bennett will also join Monese’s leadership team, subject to FCA approval.
Westpac appoints Damien MacRae to lead new BaaS business
Westpac’s BaaS offering was built in partnership with 10X and integrates 30+ various tech services.
UK fintech start-up Weavr secures $40m Series A round; targets US launch
CEO Alex Mifsud says Weavr shortens the time it takes to launch embedded finance solutions.
OpenPayd hires former Worldpay VP Daniel Belda to head up product strategy
Belda spent the best part of five years in senior positions at Worldpay before moving to OpenPayd.
The Bank of London launches in UK with $1.1bn valuation
The company received its first bank licence as the sixth principal clearing bank of the UK.
Unit adds cross-border payments capabilities with Currencycloud
Tie-up expands capabilities for the US customers of Unit’s Banking-as-a-Service (BaaS) platform.
Talenthouse chooses Vodeno and Aion Bank for financial services launch
The global platform for creatives plans a phased roll-out of financial services from this month.
BM Technologies to acquire First Sound Bank
The deal is expected to close in the second half of 2022.
Suits Me moves from Contis to PPS for BaaS
The UK alternative lender is expanding its services using the new platform.
Aussie digital bank Volt partners Frollo to launch BaaS app
The app will be fully integrated with Volt’s core banking system.
ClearBank partners SME bank Recognise to provide Confirmation of Payee
CoP dramatically reduces the risk of fraud, says ClearBank CEO.
Standard Chartered to launch climate-focused savings app powered by Starling
Named Shoal, the platform leverages Starling’s Banking-as-a-Service offering.
South African BaaS platform Jumo raises $120m in funding
The company will use the cash to expand into more emerging markets.
