US fintech start-up CapitalOS emerges from stealth with $39m in equity and debt financing
The San Francisco-based firm has launched with $9m in equity funding and $30m in debt financing.
Partnerships
Apple’s partnership with Goldman Sachs is reportedly nearing its end
Apple has reportedly proposed ending its partnership with Goldman Sachs within the next 12 to 15 months.
HSBC appoints CEO and COO for new embedded finance JV
HSBC executives Vinay Mendonca and Shehan Silva have been appointed as CEO and COO of the new JV, respectively.
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.
India’s PhonePe reportedly planning to launch consumer lending in January 2024
According to sources, over the next six to seven months, PhonePe plans to launch multiple consumer credit products.
What the FinTech? | S.4 Episode 22 | Personalisation in digital banking
In this episode of the podcast, we’re joined by Olivier Berthier, CEO of Moneythor.
Funding Circle and Atom Bank to provide an additional £150m in financing to UK SMEs
The third such partnership between the two firms takes Atom’s total lending with Funding Circle up to £800m.
Reimagining agribusiness in Africa with VeryPay’s e-wallet companion solution
The journey for VeryPay is not just about facilitating transactions; it’s a profound movement towards reshaping and enriching lives.
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.
UK’s Kodelab to provide lending tech for HKMA CBDC pilot with Ripple and Fubon Bank
The pilot is part of the HKMA’s three-stage approach to CBDC development.
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.
Mashreq taps Visa and Ecolytiq to launch climate banking platform
The platform uses transaction data to produce carbon footprint analytics.
Sweden’s SEB selects Blacksmith KYC to automate corporate client data collection
Blacksmith claims to have specifically tailored the platform for SEB following a year-long pilot project.
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.
Klarna prepares for SEPA instant payments with Form3 partnership
The agreement will directly connect Klarna to STEP2 and the gross settlement payment system RT1.
Jordan Ahli Bank taps Fintech Galaxy to comply with open banking standards
The bank’s customers will now be able to share their financial and banking data with third-party apps.
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.
BNF Bank chooses Aspire Systems as strategic partner for implementing cutting-edge Temenos digital banking solutions
Aspire Systems has partnered with BNF Bank on a transformation journey to implement Temenos digital banking solutions.
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.
Egypt’s KashNow partners Sandah to provide small businesses with access to financing
Small businesses will now be able to submit loan applications through the KashNow app.
Eurasian Bank launches Digital Tenge Card in preparation for Kazakhstan’s CBDC
The National Bank of Kazakhstan intends to issue its own CBDC in late 2025.
Ireland’s Synch ditches plans to roll out mobile payments app
Synch says “it was no longer feasible to launch its payment app Yippay into the Irish market”.
Mastercard taps Japan’s NEC to roll out biometric checkouts across APAC
Mastercard first launched its Biometric Checkout Programme last year with NEC as an early partner.
Bambu taps WealthKernel to launch “world’s first” SaaS robo-advisor
Bambu says its solution has been designed for financial institutions that cater to mass retail investors.
UK’s OneSavings Bank partners nCino to streamline lending operations
The bank aims to increase efficiency in its underwriting and loan origination processes.
Japan’s MUFG pens multi-year partnership with AWS for digital transformation
By moving to the cloud, AWS claims that MUFG has been able to reduce IT operational costs by 20%.
Customers Bank taps Funding Circle for Lending-as-a-Service platform
The bank says the platform will enable it to deliver “affordable term loans” directly to its SMB customers.
Saudi Awwal Bank taps Mastercard to fight financial crime with AI
The bank is adopting Mastercard’s transaction risk management technology to tackle payment fraud.
Regulators should greenlight more M&A among banks and fintechs to avoid bankruptcies
Consolidation and M&As can create an environment where dynamic regional banking ecosystems can flourish.
Demystify Podcast: Demystifying embedded banking success with Chris Dean and Chris Tremont
Grasshopper and Treasury Prime are thriving at a time when so many neobanks and BaaS providers are struggling.
RTGS.global signs pilot agreements for settlement service with three new banks
The three banks are Tajikistan-based Alif Bank and Bank Arvand and Montenegro’s Universal Capital Bank.
Landsbankinn partners Meniga to launch open banking-powered PIS and AIS services
The bank claims the new services mark a “significant breakthrough in the realm of open banking within Iceland”.
Canadian Tire reacquires Scotiabank’s 20% stake in its financial services arm in $650m deal
Scotiabank first bought its 20% stake in May 2014 for around $460 million.
FinTech Futures: Top five stories of the week – 10 November 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Valley National Bank taps FusionIQ for digital wealth management solution
The bank will deploy FusionIQ’s cloud-native Digital Advice platform.
What the FinTech? | S.4 Episode 20 | SPAC to the future
In this episode of the podcast, we’re joined by Betsy and Daniel Cohen, co-founders of Cohen Circle.
Video: Mastercard at Money20/20 USA 2023 – Fintech partnerships and sustainable growth models
We chat with Mastercard’s Tim Montgomery and Hania Faridi about the company’s approach to fintech partnerships.
National Bank of Georgia taps Ripple for CBDC pilot
With Ripple, Georgia’s central bank aims to explore use cases and potential benefits of having a digital currency.
