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.
BankingTech
No stray dogs allowed
‘No stray dogs allowed’ is a phrase I find myself muttering a lot. Usually in frustration or abject bafflement.
Navy Federal Credit Union taps Oracle for cloud and account servicing tech overhaul
The largest credit union in the US will leverage four different Oracle solutions to boost automation and efficiency.
ModernFi lands $18.7m Series A funding to boost deposit network expansion
The fintech last raised $4.5 million through a seed round in February 2023.
Grow Financial FCU taps NCR Atleos for ATM management
The Tampa-headquartered credit union claims to operate 70,000 surcharge-free ATMs across the US.
Former Sutton Bank exec Glenn Murray joins start-up Evolution 2100 as chief strategy officer
Evolution 2100 plans to provide a suite of financial services for underserved communities and businesses.
The Philippines’ UnionBank taps Informatica for MDM solution
Informatica says the solution provides an “enterprise-wide, 360-degree view of customers”.
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.
PayTech Awards 2024 sponsorship opportunities
Unmissable sponsorship opportunities – digital and physical – at the upcoming PayTech Awards on 28 June.
Italy’s Objectway doubles down on North American wealth market with acquisition of Nest Wealth
The deal will see the fintech take ownership of Nest Wealth’s digital wealth solutions and client portfolio.
Oracle strikes deal with Slovenia’s SID Bank for core banking and payments technology
The bank will utilise Oracle’s core banking, payments, trade finance, treasury and corporate lending applications.
Digital Onboarding plans product and team expansion following $58m growth capital injection
The Boston-based engagement platform says it is looking to double its staff headcount by the end of the year.
Demystify Podcast: Lettspay and Griffin – demystifying working with a challenger bank
Our guests on the Demystify podcast this week are Adam Moulson, Griffin’s COO, and Garrett Foxon, CEO of Lettspay.
Synchrony hires former Santander exec Pierre Habis to lead consumer banking
Habis previously served as chief consumer banking and digital transformation officer at Santander.
India’s CSB Bank taps Oracle for Flexcube core
The bank is set to replace its homegrown Maarvel core system with Flexcube.
Rising waters, rising risks: floods and the global financial tide of climate change
If the models are correct, then the financial impacts of climate change globally could be devastating.
Join us as a judge for PayTech Awards 2024!
The prestigious PayTech Awards 2024 invites payments professionals to apply to join the esteemed panel of judges.
Sainsbury’s set to wind down banking business
The UK retailer has also confirmed the departure of Jim Brown, Sainsbury’s Bank’s CEO of almost five years.
Hong Kong’s Allied Banking Corporation extends Finastra partnership with core upgrade
The group is migrating from Finastra’s Equation core to its cloud-based Essence solution.
Decluttering
It’s time to double down or pull the plug on the things you have not doubled down on by now.
Colorado’s Elevations Credit Union partners Alkami for digital banking platform
The credit union hopes Alkami’s digital platform will help it grow its retail and business portfolio.
Specialist neobank Panacea Financial bags $24.5m Series B funding
Panacea says it will use the capital to expand its financial services suite built for US doctors.
Put yourself in the spotlight at this year’s Banking Tech Awards USA
Nominations for the 2024 awards are now open – apply today!
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.
If 2023 was the year of AI hype, will 2024 be the year of AI governance and responsibility?
In 2024, we must ensure that issues around privacy, fairness, and biases in AI are addressed.
Save the date: The Banking Tech Awards celebrates its 25th anniversary on 4 December
Nominations for the 25th annual Banking Tech Awards will open this spring.
Global Credit Union to acquire First Financial Northwest Bank for $231m
The transaction is expected to close in Q4 2024, subject to approvals and customary closing conditions.
10x Banking raises $45m to fuel expansion efforts
The raise marks 10x’s first funding round since its Series C in June 2021, when it bagged $187 million.
Citigroup to cut 20,000 jobs over two years after Q4 downturn
The bank is anticipating run rate savings of $2 billion as a result of the cuts.
Canada’s Vancity names Wellington Holbrook as president and CEO
Holbrook takes over from Nez Aquino, who has served as interim CEO since July 2023.
Singapore’s GXS Bank reportedly receives $109m investment from parent company Grab
The capital injection follows a $104m investment in July and a $56.8m investment in April last year.
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.
Commerzbank forms joint venture with Global Payments for SME payment solutions
The new joint venture, Commerz Globalpay, is expected to launch in H1 2024 and will be based in Frankfurt.
JP Morgan Chase-owned WePay reportedly offboards a number of business clients
JP Morgan Chase bought WePay back in 2017 in a $400 million deal in a push to compete with Stripe.
US-based Citizens State Bank taps Revio to fuel customer growth
The bank will adopt the Revio platform to tap customer expansion opportunities.
Millennials and Gen-Z embrace digital banking and “mobile-first” payment mindset. Could that be a problem?
Consumers need to be clear on what constitutes proper – as well as improper – use of mobile banking and payment platforms.
ICYMI fintech funding round-up: KlariVis, Komunal, Maalexi, Cleva & CSI
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Danske Bank looks to improve digital customer experience with Backbase
Backbase’s tech will be implemented across the bank’s digital channels “progressively” over the next few years.
Tobias Unger joins Sopra Banking Software as new chief operating officer
Unger brings more than two decades of financial services and fintech experience to his new role.
One core to rule them all – part one
For banks, what would the ultimate core look like?
