Monzo records first full year of profitability as it eyes international expansion
Monzo has reported a profit before tax of £15.4 million, compared to its £116.3 million loss in FY2023.
BankingTech
Data unleashed – five ways COOs can equip their businesses to win the data race
As advances in AI open a new frontier for the investment industry, explore how COOs can capitalise on the advantages technology has to offer.
Visa and Mastercard set to pay $197m to settle US ATM fee lawsuit
The settlement will see Visa pay $104.6m, while Mastercard will pay $92.8m.
A night of celebration: Banking Tech Awards USA 2024 winners announced
Congratulations to all the winners at this year’s Banking Tech Awards USA!
California’s CBC Bancorp to acquire Bay Community Bancorp for $122m
CBC Bancorp will purchase Bay Community Bancorp in an all-cash deal valued at $14 per common share.
ICYMI fintech funding round-up: Landytech, Frich Money, Swiipr and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
May 2024: Top five payments stories of the month
FinTech Futures takes a look back at five of the top payments stories during May.
XYB announces Derek Joyce as new CEO ahead of Monese split
Joyce previously advised XYB on its upcoming split from Monese as well as its latest fundraising endeavours.
May 2024: Top five new fintech launches of the month
FinTech Futures takes a look back at five of the top new launches during May.
From castles to banking ecosystems: the continuous evolution of banking software
The history of banking software is driven by the march of technology and ever-changing customer demands.
Business banking start-up GoDutch launches in the Netherlands
The start-up is aiming to “revolutionise business banking by redefining what ‘fair banking’ truly means”.
Commonwealth Bank of Australia to pilot NameCheck solution on JP Morgan’s Liink network
The collaboration aims to “help validate bank account details used in international payments to Australia”.
Banque Raiffeisen selects Worldline for cloud-based instant payments solution
Worldline has been a long-standing partner of Banque Raiffeisen, providing it with a number of payment services.
May 2024: Top five funding rounds of the month
FinTech Futures takes a look back at five of the top funding rounds to emerge during May.
When the first cut is the hardest, however shallow
A lot of hard decisions fail to get made because of politics, habits and very basic human fears.
Comerica Bank & Trust reaches formal agreement with US OCC over enforcement action
The OCC has ordered the bank to create a compliance committee as part of the action.
UK challenger SilverRock lands banking licence with restrictions from PRA following £50m raise
The new bank says it plans to start lending “later this year”.
HSBC launches e-commerce payment solution Omni Collect in UAE in partnership with Geidea
Geidea has been selected to enhance the offering by integrating a merchant acquiring facility.
May 2024: Top five core banking stories of the month
FinTech Futures takes a look back at five of the top core banking stories of the month.
Bank Muscat’s Meethaq goes live with Temenos’ core banking tech
The bank claims to have migrated “over 200,000” customer accounts to the new cloud-based platform.
Rich Data Co inks first US deal for AI decisioning platform with M&T Bank
North America’s sixth-largest commercial bank has tapped the platform to “detect more early warning signs” in lending.
AI as the new frontier: empowering credit unions for future growth
How can credit unions leverage AI to help boost deposits and improve loan growth?
HPS set to acquire digital banking and payment software provider CR2
The deal will see CR2’s BankWorld platform combined with HPS’ PowerCard suite.
ABN Amro acquires Germany’s Hauck Aufhäuser Lampe in €672m deal
The deal is expected to close in Q1 2025 pending regulatory approvals.
N26 fined €9.2m by BaFin over late submission of suspected money laundering reports in 2022
N26 says it has implemented “numerous measures to further improve reporting processes” since 2022.
Stanbic Bank Kenya set for Temenos core banking upgrade with Orion Innovation
Stanbic Bank Kenya first went live with Temenos’ core banking tech in 2010.
White paper: Bridging the gap between data science and decision-making in financial services
Boost competitiveness in finance with data science. Learn to manage data challenges and drive decision-making with quick insights.
LGT in Liechtenstein taps Finastra for instant payments
Finastra says the move will enable LGT to meet the EU instant payments regulatory timeline.
FinovateSpring 2024: Rethinking customer experience and boosting diversity in financial services
FinovateSpring 2024 concluded on Thursday after a day filled with thought-provoking panels and keynotes.
OUCU Financial Credit Union to migrate to Tyfone’s nFinia digital banking platform
The $483 million-asset credit union is also making use of Tyfone’s Skip-a-Pay and Quick Pay solutions.
Designing financial services for children with Sunshine+Kittens
UK start-up Sunshine+Kittens is launching a new offering for children designed to help boost financial literacy.
Arab National Bank in major upgrade of core banking system with Infosys Finacle
The successful upgrade has launched “a new chapter in banking at Arab National Bank”, says CIO Naif Alharbi.
BBVA partners OpenAI to deploy ChatGPT among its employees
BBVA has begun deploying 3,000 ChatGPT Enterprise licenses among its employees in Spain.
Burgan Bank in core banking software modernisation with TCS Bancs
Kuwait-based Burgan Bank will replace its legacy tech with the TCS Bancs integrated core banking system.
First Abu Dhabi Bank reportedly in discussions to acquire Yapi Kredi from Turkey’s Koc Group
Koc Group has held a stake in the Istanbul-based full-service bank since 2005.
Migrant banking platform Majority lands $20m in “push towards profitability”
In addition to the funding, the platform has also announced Abhi Pabba as its new chief risk officer.
FinovateSpring 2024: Mobile payments and understanding Gen Z dominate day two
FinovateSpring 2024 sustained its momentum over day two with a line-up of informative debates and keynotes.
When saying it louder doesn’t help
Inefficient and inadequate systems and standardised processes are the reality within every bank.
Mercado Pago enters talks with regulators for banking licence in Mexico
Mercado Pago GM Pedro Rivas says the firm’s ambition is to become “the largest 100% digital bank in Mexico”.
Citi fined £61.6m by UK regulators for “failures in its trading systems and controls”
The total penalty consists of a £33,880,000 fine from the PRA and a £27,766,200 fine from the FCA.
