Banking Technology Magazine September 2024 issue out now
Cover story: HOP INTO THE FUTURE – Banks must turn and face the change.
FinTech
Malta’s Papaya promotes Igor Tsybolyuk to CEO
Tsybolyuk has served as Papaya’s chief operating officer since June 2022.
Germany’s Upvest embeds Deutsche Bank’s banking infrastructure to expand its product range
Upvest will provide virtual IBANs, cash management, and FX services through Deutsche Bank.
Singapore-based fintech start-up WSPN bags $30m seed funding
Founded by ex-Visa and Paxos employees, WSPN offers digital payment solutions using DLT.
We don’t say that sort of thing around here
Don’t just ask your vendors to explain their cost structure. Ask them to justify it.
State of play: cybersecurity in financial services
The current cybersecurity threat landscape remains dynamic and challenging for financial services firms.
Singapore’s Valverde taps Broadridge for investment management solution
Valverde will deploy Broadridge’s tech to support its recently launched Valverde ASEAN+ Fund.
I am speaking now
At the current rate, it will take another 134 years before we can reach global gender parity.
US fintech Amount lands $30m in fresh funding to advance AI capabilities
Amount’s tech powers deposit account opening and loan origination for banks and credit unions.
The perfection paradox and the power of pragmatism
Pursuing perfection in digital transformations often causes more problems than it solves.
Sharon Naidoo named new TransUnion CFO for the UK and Europe
Naidoo previously served as CFO at TransUnion Africa.
Revolut becomes Europe’s most valuable private tech firm after $500m employee share sale
Following the share sale, Revolut is now valued at $45 billion, up from $33 million in 2021.
Norway’s IDEX Biometrics names Catharina Eklof as new CEO
Eklof has acted as the firm’s chief commercial officer (CCO) for the past three years.
Stellex Capital acquires Fincentric from S&P Global
The acquisition is expected to close during the first half of 2025.
Chaos Labs lands $55m Series A led by Haun Ventures
Chaos Labs will use its latest funding to develop new products and expand its risk management platform.
Science Card introduces new debit card offering to help accelerate UK scientific discovery
Customers can support ongoing projects focused on dementia, cervical cancer, and kidney transplants.
Arizona’s Transact Campus snapped up by Roper Technologies in $1.6bn deal
As part of the deal, Transact Campus will merge with Roper’s CBORD business.
ICYMI fintech funding round-up: Skydo, Finora Bank, Okredo, Parfin, and more
Our weekly fintech round-up for you to get the latest funding news from around the world.
FinTech Futures: Top five news stories of the week – 16 August 2024
Our pick of the top fintech news stories this week includes Scotiabank, Tally, Experian and more.
UAE fintech Yuze bags $30m funding to propel expansion into new markets
Yuze offers a digital financial services platform built to help simplify financial management for SMEs.
N26’s chief regulatory officer Jan Stechele to step down to “pursue new opportunities”
Chief risk officer Carina Kozole will assume Stechele’s responsibilities moving forward.
The shifting credit landscape in the digital age
Will the concept of a credit score as we know it become obsolete?
PayZen lands $32m equity investment and $200m credit warehouse in Series B round
PayZen offers an affordability financing platform to help healthcare patients in the US manage medical bills.
Blockchain firm Consensys hires former Disney exec Dan Odell as CFO
Odell will take control of “all financial operations” at Consensys.
Cartoon: Testing times
AI models are still making mistakes as humans do, just different types of ‘dumb’ mistakes.
The greatest story never told
I suspect it is inevitable that a bit of a rethink around open banking will have to happen.
Setpoint bags $31m Series B funding to fuel research and development
The round builds on Setpoint’s $43 million Series A and takes its total capital raised to date to $76 million.
Ireland’s PTSB extends partnership with Worldpay to expand merchant services offering
PTSB will now make use of Worldpay’s DCC, ePOS and e-commerce solutions.
Experian snaps up behavioural analytics firm NeuroID
Experian will use NeuroID’s tech to enhance its fraud risk suite for clients.
Banking Tech Awards 2024 nominations deadline extended to 6 September
You now have until 6 September to submit your nominations for this year’s Banking Tech Awards!
Demystify Podcast: Demystifying the evolution of trading technology and data centres
In this podcast episode, Dave and Dharm chat with John Bryant of Options Technology and Eleni Coldrey of Equinix.
UK start-up Sync Savings to make market debut next month
Digital bank Griffin has been revealed as the start-up’s first partner bank.
Broadridge appoints Simon Robertshaw as CTO of trading solutions
Robertshaw joins from The Bank of London, where he served as COO.
India’s Vayana secures $20.5m in Series D funding
The funds will be used to enhance Vayana’s risk management and compliance platforms.
Pre-seed fintech investor Techstars cuts global workforce by 17%
Techstars CEO David Cohen says the firm “overbuilt and over hired to support our ambition to scale”.
Selina Finance signs five-year mortgage servicing agreement with Phoebus Software
The London-based lender will leverage Phoebus’ tech to service homeowner and HELOC loans.
US fintech Tally to shut down after failing to secure “necessary funding” to continue operations
The fintech had previously secured $80 million in Series D funding in 2022.
Nium looks to expand presence in LatAm with new licence applications
Nium has applied for a Payment Institution licence in Brazil.
Coop set to discontinue Finance+ project, says “demand did not meet expectations”
Coop cites increased competition in the financial sector as one of the reasons behind the decision.
Future FinTech Group promotes Hu Li to CEO
Li has served as CEO of FTFT International since January this year.
