FinTech Futures: Top five news stories of the week – 26 July 2024
Our pick of the top fintech news stories this week includes Revolut, UniCredit, Modulr and more.
Payments
Fortis buys NetSuite payments division of MerchantE
Fortis says it has a “robust pipeline of feature enhancements” prepared for the division.
Financial transactions database TigerBeetle raises $24m Series A funding
TigerBeetle plans to invest in engineering as it looks to double the size of its team by the end of the year.
Simona Covaliu appointed new CRO of PayU GPO
Covaliu will lead PayU GPO’s security, compliance, privacy and risk units.
Morgan Stanley buys stake in UK business payments start-up Sokin
Sokin says the deal will “accelerate its product growth plans and further global expansion”.
Kenya’s Diamond Trust Bank taps Network International for digital payment solutions
The bank will utilise Network International’s platform for debit, credit and prepaid card hosting and processing.
What the FinTech? | S.5 Episode 12 | The emerging technologies driving innovation in payments
In this podcast episode, we chat with George Maddaloni, CTO of Operations at payments giant Mastercard.
FCA lifts partner onboarding restrictions on UK fintech Modulr
Modulr can now resume onboarding A&D partners but must inform the FCA when doing so.
Egypt’s MNT-Halan raises $157.5 million, plots regional expansion
The international expansion will be aided by both M&As and partnerships.
UK paytech RC365 acquires Money Lenders Licence to provide digital lending services in Hong Kong
RC365 purchased the licence from private investment and advisory firm HC Capital Group for HK 230,000.
US Federal Reserve fines digital bank Green Dot $44 million over “unfair and deceptive practices”
Green Dot has been anticipating the arrival of the consent order since February.
US fintech Coast bags $40m Series B for product, partnership and team expansion
The fintech will apply the funds to “accelerate its product and partnership development”.
B2B paytech Slope lands $65m equity and debt funding led by JP Morgan
Following the investment, Slope will join the JP Morgan Payments Partner Network.
CFPB proposes new rule to include payday advances under Truth in Lending Act
The fees associated with payday advances must be accompanied by the appropriate consumer disclosures.
Boku names former NatWest exec Rob Whittick as new CFO
Whittick most recently served for over four years as chief of staff of NatWest Group.
Cash App to exit UK as Block scales back international expansion plans
Block is currently focused on “growing within the US, not expanding into new markets”.
ICYMI fintech funding round-up: Dopay, Wamu, Mifundo, Papaya and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Video: Nationwide at Money20/20 Europe – AI and multi-cloud architectures
Nationwide’s Otto Benz discusses the intriguing intersection between multi-cloud architectures and AI.
FinTech Futures: Top five news stories of the week – 19 July 2024
Our pick of the top fintech news stories this week includes HSBC, Stripe, the FCA and more.
RTGS.global co-founder and CTO Andrew Smith announces departure
Smith announced his decision to part ways with the company on LinkedIn.
Meridien Holdings acquires stake in FX liquidity firm DKK Partners to bolster plans for NYSE listing
The US-based holding company says it has “set fourth its plans to list on the NYSE”.
Brazil’s Matera lands $100m investment from Warburg Pincus
Warburg Pincus will reportedly gain a minority stake in Matera following its investment.
Merrco Payments rebrands to KORT Payments with new managing team led by Paysafe founders
The rebranding comes after Merrco’s successful capital raise in June.
Lloyds Banking Group terminates five-year agreement with invoice financing fintech Satago
The agreement was initially announced in March 2022 with Lloyds also investing £5 million into the fintech.
Video: Tribe Payments at Money20/20 Europe – Hyper-personalisation in fintech
Tribe Payments’ Lynda Clarke talks big data, hyper-personalisation, and the continued customisation of fintech.
US fintech start-up Estu launches new financial services app for students
The app comprises financial, social and academic functionalities.
Thunes hires former Worldpay exec Sigrid Hulsebosch as new CFO
Hulsebosch will take charge of Thunes’ financial strategies and global finance function.
Digital challenger Inter promotes SVP Alexandre Riccio to Brazil CEO
Riccio has been tasked with overseeing “an even more intense drive to deliver results”.
Invisible threads: The unassuming tech powering our lives
With technology, success is always built on top of prior innovations and lessons learned.
Sequoia Capital reportedly offers Stripe investors share deal as fintech valuation tops $70bn
The firm is said to have made the offer through an email sent to LPs this week.
Jordan Kuwait Bank partners Mastercard and FOO to launch multicurrency prepaid wallet offering
EliWallet will enable customers in Jordan to “transfer money swiftly across borders”, JKB says.
BNP Paribas partners Ant International to enhance cross-border payment solutions in Europe
The pair will also work to “explore innovations in tokenised deposits for global treasury management”.
Argentinian fintech start-up Tapi bags $22m Series A led by Kaszek
The funding round also saw participation from Californian VC Andreessen Horowitz.
Blockchain-powered clearing and settlement fintech Partior raises more than $60m in Series B funding
Partior was founded as a joint venture between JP Morgan, DBS Bank and Temasek in 2021.
Diamond Credit Union partners Tyfone for nFinia digital banking platform
Diamond was a longstanding client of Cubus Solutions, which Tyfone acquired in 2023.
Banking Technology Magazine July / August 2024 issue out now
Cover story: MONEY TALKS – Cash still playing an important role in society.
ICYMI fintech funding round-up: Lemon.markets, Trustap, Adfin, Accend and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Skipify names former Airbnb Payments chief Sam Shrauger as new COO
Shrauger previously served as CEO and chairman of Airbnb’s US payments arm for over four years.
Malaysia’s Affin Bank partners ACI Worldwide for business payments platform
The bank is leveraging the ACI payments platform to realise a “75% efficiency boost”.
Nala bags $40m Series A to scale remittance services
Part of the funds have been earmarked to build Nala’s B2B payments platform, Rafiki.
