Al Etihad Payments partners Core42 to launch open finance across the UAE
The UAE central bank says it will be ready to offer open banking to “the majority of customers” this year.
Partnerships
FinTech Futures: Top five news stories of the week – 26 April 2024
Our pick of the top fintech news stories this week includes Monese, Temenos, Synapse and more.
Enigmatic Smile buys Fidel API’s loyalty business
The sale, for an undisclosed sum, includes all assets associated with Fidel’s loyalty business.
Former Tesla exec Tim Newell to spin off Aspiration’s consumer financial services division
The new standalone company will act as an independent neobank offering environmentally sustainable products.
Axis Bank taps Moneythor for digital engagement solution
The collaboration with Axis Bank represents Moneythor’s first large-scale deployment in India.
Jordan Kuwait Bank digitises transaction banking functions with iGTB platform
The bank’s new digital capabilities are being powered by the open finance platform eMACH.ai.
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.
Thunes to boost US footprint with acquisition of Tilia
Tilia is to rebrand as Thunes and maintain operations from San Francisco.
Bird taps Airwallex to power international payments operations
Airwallex’s tech will power Bird’s in-house foreign exchange engine and issuing solution.
Central Bank of Mauritania partners Giesecke+Devrient for CBDC exploration
G+D will supply the technical support for the initial testing of specific CBDC use cases.
TabaPay to acquire assets of struggling BaaS fintech Synapse
Synapse previously filed for Chapter 11 voluntary bankruptcy and laid off over 50% of its workforce last year.
Kinsted Wealth deploys Objectway for discretionary portfolio management
President and CCO Adam Payne says the deal comes amid a need to “focus on our core business”.
Fund administrator Alter Domus taps Temenos for Multifonds platform
Temenos says its tech will enable the firm to manage “a significant increase in transaction volumes”.
Wells Fargo to integrate AI into trade finance operations with TradeSun
The San Francisco-based bank will utilise the fintech’s TradeSun Intelligence V4 solution.
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.
Navy Federal Credit Union partners Zafin for product and pricing capabilities
The credit union says it’s in the process of pivoting its legacy core to a “cloud native, real-time banking core”.
FinTech Founders Video: how to forge successful fintech partnerships
Three fintech founders discuss the best ways to assess a potential partner in financial services.
Wintrust Financial Corporation acquires Macatawa Bank for $510m
Founded in 1997, Macatawa Bank manages a network of 26 full-service branches across Michigan, USA.
UK Finance engages Quant and R3 to support Regulated Liability Network experimentation phase
UK Finance says the experimentation phase of its Regulated Liability Network will run until summer 2024.
Project Nemo launches in the UK to boost disability inclusion in fintech
The initiative aims to arm the fintech sector with the resources and expertise to help build a more inclusive industry.
BlackRock and Jio Financial Services to launch wealth management and brokerage services in India
The agreement was filed with the National Stock Exchange of India this week.
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”.
Temenos review brands Hindenburg Research allegations “inaccurate and misleading”
Temenos’ board chair says the review “reinforces the board’s view that Temenos is running a sound business”.
Myanmar’s KBZ Bank taps FinbotsAI for credit risk management solution
KBZ Bank is to deploy FinbotsAI’s credit modelling solution, CreditX.
UK government launches open finance taskforce chaired by CFIT
The industry-led taskforce will aim to “unlock the full potential of open finance”.
Germany’s Landesbank Baden-Württemberg taps Bitpanda to offer crypto custody services
LBBW will launch a pilot for its crypto custody services in the second half of 2024.
SC Ventures invests in UK ethical challenger Algbra
As part of the deal, Algbra has also partnered with SC Venture’s climate-focused savings platform, Shoal.
Stripe raises $694m through share sale to provide employee liquidity
The company had previously announced the tender offer to provide employee liquidity in February.
Navy Federal Credit Union agrees new seven-year partnership with Backbase
NFCU is “continuing to standardise” with the fintech’s engagement banking platform.
Newcastle Building Society partners Zest for employee benefits tech
The platform is set to strengthen the building society’s talent acquisition efforts.
United Bank in Alabama taps Jack Henry for digital upgrade
The bank is to adopt the vendor’s LoanVantage solution and Banno Digital Platform.
FinTech Futures: Top five news stories of the week – 12 April 2024
Our pick of the top fintech news stories this week includes Linqto, HSBC, Santander and more.
M&S and HSBC UK agree new seven-year partnership to enhance credit and payments offering
The partnership will be focused on “bringing together digital payments and loyalty for M&S customers”.
Google Cloud to develop quantitative research and genAI capabilities for three new industry takers
The deals were revealed during the Google Cloud Next event in Las Vegas this week.
Arizona Financial Credit Union taps NCR Atleos for ATM management
The Phoenix-headquartered credit union has opted for NCR Atleos’ ATMaaS solution.
US start-up Parafin lands $125m warehouse facility from SVB and Trinity Capital
Parafin previously raised $60 million in a Series B funding round led by Singapore’s GIC in 2022.
UK fintech Gresham Technologies to be acquired by STG Partners for £147m
The acquisition is expected to close by the third quarter of 2024.
UBS and SuMi Trust joint venture to acquire Credit Suisse wealth management business in Japan
The JV will absorb Credit Suisse’s Japanese advisor base and wealth management assets.
Busey Bank launches commercial credit cards with Corserv
The bank is delivering the cards using Corserv’s account issuer programme.
