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”.
Partnerships
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.
ECB names participants for new trials to explore settlement of wholesale transactions in central bank money
The testing will begin on 13 May this year, with the aim to explore several potential use cases.
Nubank partners Wise Platform to power new Global Account offering
The bank says its latest offering will be launched fully “in the coming weeks”.
Tradeweb to acquire wealthtech ICD in $785m deal
The all-cash deal is expected to close in the second half of 2024.
B2B BNPL fintech Hokodo lands €100m debt facility from Viola Credit
Hokodo says the financing will enable it to facilitate over €1.5 billion in B2B transactions over the next two years.
BankPro taps Arroweye to launch dual interface debit cards in the Caribbean
US-based Arroweye will support BankPro’s card programme with its on-demand production model.
Worldline and Crédit Agricole unveil new merchant payments joint venture CAWL
The joint venture will offer payment acceptance and payment acquisition solutions for merchants in France.
CAB Payments to expand into the EEA after securing European PSP licence
CAB Payments Europe has been granted a PSP licence from De Nederlandsche Bank (DNB).
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.
First State Bank partners Jack Henry for core processing and digital banking platform
The bank will have access to the vendor’s network of over 950 API-integrated, third-party fintechs.
UAE’s Zand Bank taps Infosys Finacle to bolster its corporate banking capabilities
Zand’s CEO claims the move will enable “seamless deployment of digital assets, AI, and blockchain technologies.”
TD Bank inks multi-year strategic partnership with Google Cloud
TD hopes the partnership will help streamline the development and deployment of new products and services.
BIS unveils Project Agorá to explore the tokenisation of cross-border payments
Project Agorá will see seven central banks work in partnership with several private sector participants.
State of play: core banking
Investment in core banking technology will continue to be the utmost priority for the industry.
PostFinance overhauls disputes management tech with new Rivero collaboration
The arrangement will see the bank leverage the Zurich-based start-up’s SaaS solution Amiko.
Oman Housing Bank selects Temenos for core banking upgrade
The OHB offers government-subsidised housing loans to low and middle income groups.
First Abu Dhabi Bank partners Microsoft to develop new AI-powered banking capabilities
Banking-as-a-Service and Risk-as-a-Service have been cited as two “potential areas of collaboration”.
