FinTech Futures: Top five stories of the week – 15 December 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Outsourcing
Europe fintech funding round-up: Aria, AbbeyCross, Salv and more
A handy round-up of the recent funding endeavours of fintech companies across Europe.
Qatar’s Lesha Bank upgrades to Temenos’ latest core banking platform
Temenos says its Transact R23 platform will enable Lesha Bank to accelerate digital initiatives.
Apex Fintech Solutions files draft statement for IPO with US SEC
Apex says the number of shares to be offered and the price range have not yet been determined.
US Eagle FCU partners Lumin Digital for digital banking
The New Mexico-based credit union has struck a multi-year deal with Lumin Digital.
Splitit delists from ASX as Motive Partners snaps up controlling stake
Motive Partners will invest two $25 million tranches as part of its growth commitment to the Aussie firm.
Banking Technology Magazine Dec 2023 / Jan 2024 issue out now
Cover story: THE BEST OF BANKING TECH – Winners and pictures from an amazing night.
Banco Santander migrates corporate and investment banking business to the cloud
Santander intends to complete its group-wide migration to the cloud by the end of next year.
Reserve Bank of India outlines plans for new fintech repository and cloud facility for FS firms
The new measures also address “moral hazard issues” in lending and boost certain transaction limits.
Hungary’s OTP Bank taps iGCB for core banking revamp
OTP Bank has selected the vendor’s Intellect Digital Core (IDC) offering and lending platform.
Report: Trends in technology for the wealth management community
Delving into the wealth management industry issues, competing priorities, budget, expertise and culture – now and in the future.
CSI names financial services veteran Troy Bradley as new CTO
Bradley brings more than 35 years of experience leading product and technology teams across banking and payments.
UK regulators issue joint proposals to tackle risk of financial instability posed by CTP dependency
The regulators are accepting feedback and expect to publish final requirements by H2 2024.
Germany’s Scalable Capital secures $65m in Series E extension
The raise follows on from the company’s $180 million Series E round in June 2021.
Bravura Solutions appoints APAC and EMEA CEOs as part of new leadership structure
The company has promoted Paul Dunn to CEO, APAC and Chris Spencer to CEO, EMEA.
Trading Technologies names former Broadridge exec Justin Llewellyn-Jones as new COO
Llewellyn-Jones was previously chief product officer, capital markets at Broadridge.
Demystify Podcast: Demystifying BaaS banking with NatWest Boxed
Demystifying what is holding BaaS back from broader adoption and what it takes to create a successful BaaS venture.
Latvian embedded cryptocurrency trading platform Primex goes live
The platform seeks to “cut through crypto trading complexity” for financial services companies.
Allica Bank partners Wise Platform for cross-border payment solution
The partnership will enable Allica’s business customers to make “transparent and low-cost” international payments.
Crédit Agricole CIB taps Opensee for market risk management solution
The solution works to consolidate the bank’s previously fragmented data sets for its global markets business lines.
Credit Union 1 migrates core to Jack Henry’s Symitar platform
Jack Henry says its open banking infrastructure was the decisive factor for CU1 to migrate its core.
Italian competition authority interrupts migration of 2.4m Intesa Sanpaolo accounts to Isybank
The watchdog says more than 5,000 of Intesa Sanpaolo’s own customers sought its intervention.
How Europe’s PSPs are bracing for SEPA instant payments
The European Parliament approved final implementation deadlines for SEPA instant payments on 7 November.
UK fintech Paysend lands $65m in fresh funding round
The round includes strategic investments as well as participation from existing investors.
Why AI won’t solve legacy problems
Not every problem is a nail that needs a hammer when it comes to AI.
Denmark’s Mazepay taps ex-Mastercard exec Kevin Stanton to lead US drive
Stanton previously spent the best part of two decades in senior roles at Mastercard.
UK challenger Aldermore Bank enters strategic partnership with Mambu
Aldermore joins 18 regulated UK banks and 22 non-bank lenders and EMIs which run on Mambu.
Codebase launches BaaS solution in Egypt with Visa and eFinance
The BaaS model will enable Egypt’s non-bank firms to integrate banking services into their product lines.
Contis hit with €840,000 fine by Bank of Lithuania
The fine relates to alleged AML failings over a period between 2021 and 2022.
Demystify Podcast: What banking can learn from telecoms with Herve Manceron, Skaleet
What banking can learn from the telecoms industry that has already undergone cloud technology transformation.
ICYMI fintech funding round-up: Kiwi, ID Finance, Crezco and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Mexican fintech start-up Trafalgar taps Thought Machine for core banking technology
Trafalagar plans to launch its new platform, running on Vault Core, in Q2 2024.
BBVA Switzerland selects Metaco’s Harmonize to power digital asset operations
Metaco will work with the bank’s existing partner Avaloq to deploy its digital assets offering.
Blue Ridge Bank set to trim BaaS fintech partnerships down to a “limited number”
The bank was flagged by the OCC last year for “unsafe or unsound” practices concerning its BaaS business.
Scottish challenger Alba Bank taps nCino to power SME lending
The SME-focused challenger landed its UK banking licence with the FCA and PRA in March.
US challenger HMBradley winds down consumer business, eyes B2B space
“Our consumer brand growth was falling short of our goals,” says HMBradley CEO and co-founder Zach Brunke.
US fintech Brex names Karandeep Anand as its first president
Anand first joined Brex in January 2022 as chief product officer.
Jordan’s Capital Investments taps Codebase Technologies for digital onboarding
Capital Bank of Jordan previously tapped Codebase to launch its digital banking app and neobank Blink.
Dutch payment processor Silverflow lands $16.3m funding
Picus Capital, Coatue, Crane Venture Partners, Inkef, and a number of angel investors also participated in the round.
ICYMI fintech funding round-up: Refine Intelligence, Apiture, Solvimon and more
Our weekly fintech round-up for you to get the latest funding news from around the world.
