ICYMI fintech funding round-up: Fundcraft, Volta, Swypex, SAVR and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Trading Technology
FinTech Futures: Top five news stories of the week – 10 May 2024
Our pick of the top fintech news stories this week includes Monzo, NAB, GoTyme Bank, and more.
Sweden’s Mitigram names Pedram Tadayon as new CEO
Mitigram has also refreshed its C-Suite with recent CSO and CPO additions.
Globacap hires WealthKernel’s Brian Schwieger as new chairman
Schwieger also currently serves as the chair of the board and non-executive director of WealthKernel.
JP Morgan Chase to pay additional $100m penalty to US regulator over trade surveillance data gaps
The bank was previously hit with a $348 million fine from the OCC and FRB in March.
Celebrating 25 years of innovation: Banking Tech Awards 2024 nominations now open
Nominations for the Banking Tech Awards 2024 are now officially open to companies worldwide!
Wealthtech Midas raises $45m Series A to launch new products
The funds will enable Midas to introduce mutual funds, savings accounts and crypto trading.
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”.
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.
EQT to sell data management tech firm Rimes to Five Arrows
The parties say they expect the transaction to close “in the coming months”.
Linqto to go public via $700m SPAC merger with BCSA
The deal is set to close in H2 2024, with Linqto to operate as a wholly-owned subsidiary of BCSA.
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.
Tradeweb to acquire wealthtech ICD in $785m deal
The all-cash deal is expected to close in the second half of 2024.
UAE’s GTN names former Saxo Bank exec Damian Bunce as new Middle East CEO
Bunce brings more than 30 years of experience in forex and online securities trading to his new role.
UK’s FCA and Bank of England launch consultation for Digital Securities Sandbox
Responses to the consultation are being accepted until 29 May, ahead of applications for the DSS opening this summer.
Discover Financial Services exec Michael Rhodes to take the lead at Ally Financial as new CEO
Ally Financial has been on the hunt for a new CEO since the departure of Jeffrey Brown in January.
Robinhood co-founder Baiju Bhatt departs to “pursue other entrepreneurial interests”
Bhatt will step down as chief creative officer but will remain on Robinhood’s board of directors.
ICYMI fintech funding round-up: Marco, Zone, Copilot, Flowpay and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
JP Morgan Chase hit with $348m in fines related to its trade surveillance programme
The fines were issued by the the Office of the Comptroller of the Currency and the US Federal Reserve.
United Fintech reshuffles leadership in push to drive growth
The restructuring will involve members of three of the five acquisitions it has made in the last four years.
NorthWall Capital partners Broadridge for Sentry portfolio management solution
The UK-based firm will leverage Sentry to streamline and scale its credit investment operations.
CGS International in Singapore taps Broadridge for securities finance platform
The firm will leverage Broadridge’s Securities Finance and Collateral Management (SFCM) solution.
Webull set for Nasdaq public listing via $7.3bn SPAC merger
The merger between Webull and SK Growth Opportunities is due to close in H2 2024.
Fintech start-up Xalts grants Contour Network new lease of life with announced acquisition
Contour previously announced in October 2023 that it was to wind down operations as a result of insufficient funding.
The convergence of finance and technology in online trading
The seamless fusion of finance and tech to unlock new dimensions of online trading efficiency and intelligence.
Luzerner Kantonalbank selects Finmechanics tech for markets business overhaul
The Swiss bank is to replace its legacy system for position and risk management with FM Converge.
Trading Technologies branches out into clearing with acquisition of Ateo
The Chicago-based vendor expects to complete its acquisition of Ateo by 29 February.
GFT cultivates core banking capabilities with acquisition of Colombia’s Sophos Solutions
The acquisition will see GFT take on all of Sophos’ partners and 1,700 of its employees.
Armenia’s Ardshinbank selects ERI’s Olympic Banking System for securities and forex
Ardshinbank will also integrate the vendor’s tech to strengthen its retail mobile app.
ICYMI fintech funding round-up: Safty, Ozone API, WealthKernel and Karty
A handy round-up of the recent funding endeavours of fintech companies across the globe.
US private equity firm WCAS buys majority stake in EquiLend
WCAS will also commit $200 million to fuel the future growth of EquiLend.
Danske Bank adopts Broadridge’s Tbricks for multi-asset trading and market making
Tbricks is the US-headquartered fintech’s principal trading and market making solution.
Bill Crager to step down as CEO of Envestnet
Crager is due to transition into the role of senior advisor upon his departure from the company’s leadership.
Ireland’s Davy Capital Markets taps Torstone for its post-trade platform
The deployment builds on an agreement between the two companies in August last year.
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.
TSX operator TMX Group snaps up remaining 78% stake in VettaFi for $848m
The group initially paid $175 million for approximately 22% of VettaFi back in January.
DTCC completes acquisition of Securrency, rebrands business as DTCC Digital Assets
DTCC initially announced that it had signed an agreement to buy the firm back in October.
VersiFi hires two senior execs from Hazeltree to boost tech and infrastructure development
Sol Zlotchenko and Daniel Zayfman join VersiFi as CPTO and CISO, respectively.
Trading Technologies names former Broadridge exec Justin Llewellyn-Jones as new COO
Llewellyn-Jones was previously chief product officer, capital markets at Broadridge.
Latvian embedded cryptocurrency trading platform Primex goes live
The platform seeks to “cut through crypto trading complexity” for financial services companies.
