WesBanco snaps up Ohio’s Premier Financial in $959m all-stock deal
WesBanco is raising $200 million in capital commitments by early August to support the merger.
BankingTech
UK’s CMA says Lloyds Bank, TSB, AIB and HSBC breached Retail Banking Order
The CMA will continue to monitor the compliance of the four banks.
UK challenger Zopa taps ClearScore’s D•One for open banking-powered credit assessments
Zopa will utilise D•One’s tech for “open banking connectivity and transaction categorisation intelligence”.
The relevance of incumbent cores
As the rate of change accelerates, banks must prioritise adaptability and innovation.
Revolut secures UK banking licence with restrictions, enters mobilisation stage
Revolut has been in pursuit of a UK banking licence since 2021, when it first lodged its application with the PRA.
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”.
HSBC India partners with Open Financial Technologies to launch FinConnect for business clients
HSBC first introduced FinConnect in Singapore through its partnership with SGFinDex in late 2020.
Oat lattes and principles
Diverse workforces are more resilient and perform better against every conceivable metric.
Video: Allica Bank at Money20/20 Europe – Compliance and the profit paradigm
Allica Bank’s Mitch Trehan discusses the key drivers behind the bank’s latest revenue growth.
FCA issues new guidelines to ensure cash access for consumers and small enterprises
Fourteen banks and building societies are set to implement the new cash access system.
UniCredit set to acquire Aion Bank and BaaS provider Vodeno for €370 million
The deal includes the entire share capital of both companies and is expected to close in Q4 2024.
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.
Rabobank taps Zafin to upgrade pricing, billing and invoicing capabilities
Zafin’s tech will provide a “consistent view of product, billing and invoicing information across all channels”.
Bank of Clarke partners with Greenlight for family money management solution
Bank of Clarke becomes the first Virginia community bank to offer Greenlight’s service.
BBVA and Telefónica Tech team for cybersecurity push, launch dedicated centre in Mexico
BBVA says its goal is to be “prepared to respond to all types of attacks”.
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.
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.
Black Hills Federal Credit Union tasks NCR Atleos with ATM management in new agreement
The credit union has opted to leverage its partner’s ATM-as-a-Service and ITM-as-a-Service solutions.
Bank Audi launches new digital bank Neo in Lebanon powered by Codebase Technologies
Neo is powered by UAE-based banking software vendor Codebase Technologies’ Digibanc platform.
Video: Griffin at Money20/20 Europe – From licence to longevity
Griffin CEO David Jarvis discusses the bank’s licensing journey and what’s next in store.
First Global Bank in Jamaica partners Profile Software for digital Finuevo Suite
The partnership is set to equip the bank with new digital onboarding and loan origination facilities.
Former KeyBank digital chief Jamie Warder joins Alliant Credit Union as CIO and business strategy lead
Before his corporate career, Warder served as an armour and cavalry officer in the US Army.
The ENTJ that never was
When it comes to team building exercises, the intention is not enough. The execution is what matters.
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.
HSBC concludes search for new Group CEO with Georges Elhedery appointment
The appointment follows Noel Quinn’s announcement in April that he was stepping down after five years as CEO.
Digital challenger Inter promotes SVP Alexandre Riccio to Brazil CEO
Riccio has been tasked with overseeing “an even more intense drive to deliver results”.
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.
Starling Bank founder Anne Boden reportedly steps down from board to focus on new AI venture
Boden had been a non-executive director on the bank’s board since stepping down as CEO last year.
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”.
Covering the exposed: The effects of the FCA’s PEP review on financial compliance
The FCA is set to publish its review of the treatment of politically exposed persons (PEPs) this month.
US regulators fine Citigroup $136m for “insufficient progress” towards compliance with 2020 consent order
The OCC and the Federal Reserve Board have fined Citigroup $75 million and $60.6 million, respectively.
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.
TBC Bank Uzbekistan lands $38.2m equity investment
TBC UZ claims to be the country’s largest mobile-only bank, boasting a 15 million-strong user base.
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.
FinTech Futures: Top five news stories of the week – 12 July 2024
Our pick of the top fintech news stories this week includes Envestnet, Dosh, Innovate Finance and more.
BNP Paribas inks multi-year deal to implement Mistral AI commercial models across all business lines
The bank will gain access to “current and future Mistral AI commercial models”.
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”.
If it’s legacy, fix it now
Every bank must at least be investigating the art of the possible with new technology for core banking.
Challenger bank Griffin certified as B Corporation following “rigorous verification process”
The challenger had its governance, worker, customer, environment and community standards verified by accreditor B Lab.
