Kiatnakin Phatra Securities taps Temenos for wealth management tech
The Thailand-based wealth management firm will deploy the Swiss vendor’s Temenos Wealth solution.
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FinTech Futures: Top five stories of the week – 24 March 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
UBS buys Credit Suisse in government-backed deal
The new business entity will be worth more than $5 trillion, with invested assets worth more than $1.5 trillion.
US fintech Credit Karma launches new Net Worth product
Credit Karma’s users will be given a full picture of their financial status to help them plan their future.
Payroll and benefits start-up Catch shutting down
Accounts will be closed on 6 April 2023, with customers instructed to withdraw all funds before that deadline.
US regtech Droit lands $23m Series B funding
The round was led by Pivot Investment Partners and UBS via its venture arm UBS Next.
US challenger Varo Bank reportedly raising funds at reduced valuation
Fintech Business Weekly reports the firm is raising $50m at a $1.8bn valuation, a 28% decline in value.
Canadian insurance and investment fintech Equisoft lands $125m in funding
The funding saw participation from new investors Investissement Québec and the government of Québec.
Nationwide taps Board to upgrade financial planning capabilities
Board will “replace and transform” Nationwide’s financial planning processes and systems.
Wells Fargo launches digital financial planning platform LifeSync
LifeSync, available from March, will sit within the Wells Fargo mobile app.
Euronext in €5.5bn takeover bid for wealthtech Allfunds
Euronext has submitted an “indicative offer” to Allfunds’ board of directors.
Santander reportedly in discussions to purchase Abrdn’s private equity unit
A deal could be made in the next few months with the unit valued at around £250m, Sky News reports.
WealthKernel names Michael Rigby as new chief compliance officer
Rigby joins from Investec Wealth and Investment and brings over 30 years’ worth of experience to the role.
Financial market data provider Quodd acquires Xignite
The combined business will serve more than 2,200 companies.
FNZ to acquire Luxembourg-based B2B fund platform Ifsam
FNZ says the acquisition will strengthen its client proposition and build out its presence in Luxembourg.
Bank of Nevis International taps Tookitaki for AML tech
The Caribbean bank will deploy Tookitaki’s Anti-Money Laundering Suite (AMLS).
Mizuho Bank in core banking tech overhaul with Oracle
Oracle’s solutions will support “critical” functions, including direct deposit accounts and liquidity management.
JP Morgan reportedly planning German digital bank offering
The launch is set for late 2024 or early 2025, Bloomberg reports.
Swiss private bank Bergos goes live with FNZ’s core banking tech
Bergos customers will now be able to manage their finances through a mobile app.
As uncertainty continues, financial institutions must provide revitalised client-first approaches
While we may be facing much ambiguity in 2023, there has never been a greater opportunity to innovate.
Wealthtech start-up Nucoro reshapes its business
“Last year, we decided to reshape the business to be in line with our new strategic imperative,” says CEO.
Video: Envestnet at Money20/20 USA – Harnessing data to improve financial wellness
We chat with Farouk Ferchichi and Eric Jamison of Envestnet about the importance of data aggregation.
Wealthtech start-up Equipped appoints Edward Green as CEO
Equipped is a UK-based provider of analytics solutions for alternative asset management firms.
Capital markets fintech PrimaryBid names Fiona Richards as COO
Fiona Richards joins PrimaryBid from Rowan Dartington, the discretionary investment arm of St. James’s Place.
FNZ acquires wealthtech start-up YieldX
YieldX’s fixed income portfolio management technology will be integrated into FNZ’s wealth platform.
Belgium’s oldest private bank Nagelmackers in digital revamp with Objectway
Nagelmackers is implementing Objectway’s platform for its advisory, discretionary, and execution-only offering.
India’s PhonePe lands $350m from General Atlantic at $12bn valuation
PhonePe expects to raise a total of $1 billion in funding, with other firms set to invest next month.
Goldman Sachs loses $3bn over three years on platform solutions business
Reuters reports the firm outlined a pre-tax loss of $1.2bn for the first nine months of 2022.
2023: the final countdown for incumbents versus challengers
If incumbents fail to adapt in 2023, challengers could gain the lion’s share of the market once and for all.
Mortgage tech firm Twenty7tec acquires Broker Sense and Meet Parker
The deals follow Twenty7tec’s acquisition of fellow UK fintech Bluecoat Software in June last year.
CTBC Bank in banking and wealth management tech revamp with TCS Bancs
TCS says its core system will “support the bank’s growth aspirations over the next decade”.
2022: Top five fundraising rounds of the year
FinTech Futures recaps the top five fundraising rounds this year.
The What the FinTech? podcast | Season three’s jailed buzzwords
We run down all the buzzwords our podcast guests wanted gone from the industry this year.
New CFO at Swiss fintech Crealogix
Christophe Biollaz joins Crealogix on 1 February 2023 and replaces Daniel Bader, who is leaving the firm.
UK fintech Updraft secures £108m debt and equity funding
The money will be used to invest in new products and to support business growth.
New fintech start-up Step Fourth launches in the UK
Step Fourth says its first product offering, Blue Nova, will be ready for deployment in 2023.
ICYMI fintech funding round-up: Paper.id, Opensee, Nilus and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Moneyfarm set to buy digital pension adviser Profile Pensions
The deal, which is subject to regulatory approvals, is expected to close in H1 2023.
ICYMI fintech funding round-up: BondIT, Paywatch, 1fs Wealth and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
