Atlantic Money lands regulatory approval to expand money transfer services to North America and Australia
The fintech has been licenced to operate in Europe since 2022.
Regulation
RBC’s US subsidiary City National Bank hit with $65m fine from OCC
The OCC says the fine relates to “systemic deficiencies” in the bank’s risk management and internal controls.
OBL director Alan Ainsworth departs after six-year tenure
Despite his successful endeavours, Ainsworth writes that “it’s now time for something else”.
India’s RBI orders Paytm Payments Bank to halt banking services by end of February
The RBI attributes its order to “persistent non-compliances and continued material supervisory concerns in the bank”.
Banking Technology Magazine February 2024 issue out now
Cover story: PLANT LIFE – Talking flora and quantum computing.
FinTech Futures: Top five news stories of the week – 2 February 2024
Our pick of the top fintech news stories this week includes Lloyds, HSBC, PayPal, Santander and more.
How Lithuania became a fintech hub in Europe
Lithuania’s fintech scene is thriving thanks to an environment that encourages innovation and collaboration.
MessageBird seeks entry into financial services with call for potential acquisitions
The platform’s search is currently focused on companies with EMI/PI licences and revenues of up to $5 million.
UK’s PRA fines HSBC £57m for “historic depositor protection failings”
The PRA says the fine is the second-largest issued by the regulator to date.
Swiss crypto neobank Sygnum lands $40m growth investment
Sygnum says it will use the capital to expand into new markets and further develop its product suite.
UK to continue work on digital pound, but “no final decision has been made” on a potential launch
HM Treasury and the BoE have responded to a public consultation initially launched last February.
CFPB proposes new laws to stamp out NSF fees for transactions declined in real time
NSF fees on debit card and ATM transactions will be “unlawful” under the proposed rule.
EBA addresses ESG and climate change risks with new proposed guidelines
The EBA says it is accepting comments on the proposals via its consultation website until 18 April 2024.
European Commission takes aim at VAT fraud with CESOP
Data transmission to the new CESOP database will start from 1 April.
Business spend management platform Payhawk lands UK EMI licence
The fintech unicorn previously gained an EMI licence from the central bank of Lithuania in July.
Encompass Corporation snaps up CoorpID and Blacksmith KYC from ING
Encompass is to acquire 100% of both ING companies for an undisclosed sum.
Paymob lands PSP licence from Oman’s central bank
Paymob now claims to be the first international fintech company to be fully licenced in Oman.
Aeon Bank given the go-ahead to commence digital banking operations in Malaysia
The bank expects to roll out a Sharia-complaint banking app within the next six months.
Circle gears up for second attempt at IPO with new SEC filing
The stablecoin company has confidentially submitted a draft registration statement with the US regulator.
Credit union FirstOntario readies for Canada’s open banking push with Flinks and Everlink
The partnership is in anticipation of Canada’s 2025 rollout of open banking.
Southeast Asian fintech Salmon acquires controlling stake in Filipino bank
Once the deal is completed, Salmon will own 59.7% of the Rural Bank of Sta. Rosa (Laguna).
Boost Bank secures regulatory approval to begin operations in Malaysia
The new digital bank has been formed through a partnership between Malaysian fintech Boost and RHB Banking Group.
Nubank secures regulatory approval to operate as a financing company in Colombia
Nubank subsidiary Nu Colombia received the approval from the Financial Superintendence of Colombia (SFC).
Banco de España announces partners for wholesale CBDC trials
The Spanish central bank’s trials are expected to run for around six months.
ECB ramps up preparation phase for digital euro with calls for component providers
The ECB is issuing five contracts to vendors worth a total of €1.1 billion, with work due to begin in early 2025.
Circle secures conditional DASP registration in France, appoints new country head
Circle has appointed Coralie Billmann as head of French operations, subject to regulatory approval.
Paysera launches in Georgia after securing banking licence
Paysera Bank has commenced operations in Georgia, opening its inaugural branch in Tbilisi.
US neobank Chime appoints Shara Chang as chief compliance officer
Chang brings 15 years of financial services, fintech and consumer protection experience to her new role.
DfT director Dan Moore joins PSR as head of strategy and intelligence
Moore forms the third addition to the PSR’s executive team this year.
UK’s PSR proposes cross-border interchange fee cap
The PSR is proposing a cap of 0.2% for debit transactions and 0.3% for credit transactions made online.
The What the FinTech? podcast | Season four’s jailed buzzwords
We run down all the buzzwords our podcast guests wanted gone from the industry this year.
What the FinTech? | S.4 Episode 23 | 2023 in review
In the final podcast episode of 2023, we’re joined by banking tech veteran Dharmesh Mistry.
Flutterwave makes several new exec appointments focusing on risk, compliance and partnerships
The company has appointed Amaresh Mohan, Amanda Ortega and Stephen Cheng to executive roles.
ICYMI fintech funding round-up: Nearpay, Supra, Hyperplane and Pave Bank
Our weekly round-up for you to get the latest fintech funding news from around the world.
Europe fintech funding round-up: Aria, AbbeyCross, Salv and more
A handy round-up of the recent funding endeavours of fintech companies across Europe.
E-invoicing in Europe 2024: a country by country policy overview
Delving into the mandates, legal changes and harmonisation efforts in B2B and B2G e-invoicing in Europe.
Banking Technology Magazine Dec 2023 / Jan 2024 issue out now
Cover story: THE BEST OF BANKING TECH – Winners and pictures from an amazing night.
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.
Canapi Ventures reveals new $750m fund to support US fintech entrepreneurs
The VC firm says the latest fund takes its total assets under management to over $1.4 billion.
Elemi Bank applies to FDIC and seeks $25m in capital to launch corporate offering
The bank is expected to establish itself as a state-chartered, corporate bank with a B2B offering.
