Global fintech investment plummeted 48% in 2023, according to new data by Innovate Finance
The total global investment flowing into fintech reached $51.2 billion in 2023 across 3,973 deals.
FinTech
2023 Mobile Banking Heists Report
29 malware families targeting 1,800 mobile banking apps – an essential read for those at the forefront of combating threats on the mobile platform.
WealthCo Asset Management taps Duco to automate manual data tasks
WealthCo says the Duco platform has helped it build “volume-agnostic” automated processes.
More than words
Fintech has become one of those terms that people throw around to mean… whatever…
UK fintech funding fell 63% in 2023, new Tracxn report finds
It is the second year fintech funding has fallen in the UK, down 70% on 2021 figures.
UK fintech Chetwood Financial appoints Julian Hynd as new COO
Hynd previously spearheaded the commercial transformation of UK-based Redwood Bank.
Ant Group reportedly nearing deal to acquire Dutch payments firm MultiSafepay
The potential acquisition would value the Dutch payments firm at $200 million, Reuters reports.
Southeast Asian fintech Salmon acquires controlling stake in Filipino bank
Once the deal is completed, Salmon will own 59.7% of the Rural Bank of Sta. Rosa (Laguna).
Amethis buys majority stake in Capital Banking Solutions
Amethis plans to help CBS to “accelerate its organic growth, especially internationally”.
Boost Bank secures regulatory approval to begin operations in Malaysia
The new digital bank has been formed through a partnership between Malaysian fintech Boost and RHB Banking Group.
Demystify Podcast: Griffin, a brand new UK bank, with David Jarvis, co-founder and CEO
Griffin’s CEO and co-founder, David Jarvis, demystifies the complex layers of the UK challenger bank’s proposition.
UK fintech start-up Zilo lands £25m in Series A funding
The funding was led by FISV and Portage, with participation from State Street and Citi.
Indian paytech MobiKwik refiles draft papers for IPO, hopes to raise $84m
The company’s initial plans for a $255m IPO in 2021 were scrapped due to weakening market conditions.
Nubank secures regulatory approval to operate as a financing company in Colombia
Nubank subsidiary Nu Colombia received the approval from the Financial Superintendence of Colombia (SFC).
Banco de España announces partners for wholesale CBDC trials
The Spanish central bank’s trials are expected to run for around six months.
Indian fintech PhonePe names Ritesh Pai as CEO of international payments
Pai joins PhonePe from TerraPay, where he served as president of product and solutions for three years.
US fintech Talus Pay acquires Jobox and Clarus Merchant Services
Financial terms of both the acquisitions were not disclosed.
Being a radical thinker: how to inspire meaningful and sustainable change
It’s not easy to drive change in a corporate world that rewards convention.
Security Bank of Kansas City selects NCR Atleos to manage ATMs
The agreement will see the bank adopt its partner’s ATM-as-a-Service and ITM-as-a-Service offerings.
ICYMI fintech funding round-up: Fimple, Money Industries and Koree
A handy round-up of the recent funding endeavours of fintech companies across the globe.
FinTech Futures: Top five news stories of the week – 5 January 2024
Here’s our pick of five of the top news stories from the world of finance and tech this week, featuring HSBC, Monese, Circle and more.
Rappi to discontinue RappiCuenta offering in Mexico next month
Users in Mexico have been asked to withdraw all funds before the closing date of 11 February 2024.
Digital ID verification firm Socure bolsters executive team with three new hires
Arun Kumar has joined from Luma Financial Technologies as the company’s new CTO.
Form3 strengthens board with appointment of Anil Arora as non-executive director
Form3 hopes to leverage Arora’s “significant experience” in founding and scaling up fintech companies.
UK fintech Bumper raises $48m in Series B funding round
The round, led by Autotech Ventures, takes Bumper’s total funding to date to $64 million.
Circle secures conditional DASP registration in France, appoints new country head
Circle has appointed Coralie Billmann as head of French operations, subject to regulatory approval.
Kazakhstani fintech Solva eyes future as SME-focused bank following $20m investment
The investment was backed by the Sawiris family of the Egyptian Orascom Group and ZCP.
New Year’s resolutions
We are uniquely placed to influence the application of tech and maturation of regulation. Go out there and do good.
Blackstone set to acquire majority stake in Japan’s Sony Payment Services
Sony Bank will roll over a certain portion of its equity and continue to remain a minority investor in SPSV.
On demand webinar: Beyond the hype – exploring the real-world use cases for AI in financial services
Industry experts from HSBC, IBM and NatWest assess the impact of AI in the financial services arena.
HSBC unveils new international payments app Zing in the UK
Zing is a multi-currency app and debit card that UK residents will be able to use in more than 200 countries.
Effective risk management can boost supplier relationships and uncover new providers
Learn how KY3P from S&P Global Market Intelligence can help manage supplier risk and identify new sources of supply.
Video: Envestnet Yodlee at Money20/20 USA 2023 – Delivering open banking in the US
We chat with Envestnet Yodlee’s Farouk Ferchichi and Lisa Novier about the future of open banking in the US.
Banking veteran Mary Usategui set to launch new venture BankMiami this year
Scheduled to arrive in Q2 2024, it will be the first de novo bank to be established in South Florida in 15 years.
Oshkosh Community Credit Union taps Sharetec for core processing solution
Wisconsin-based OCCU says the decision follows “an extensive search” for a new core partner.
Saudi fintech start-up Tameed raises $15m Series A
The firm says it will use the funding to “meet the increasing demand” for its digital lending products.
OakNorth names Lord Adair Turner as new chairman
The bank plans to leverage Turner’s “extensive track record in financial services” to boost its growth plans.
UK fintech Cushon appoints Ellen Louw as new chief financial officer
Louw’s previous experience includes holding senior finance roles at WorldRemit and American Express.
Cartoon: Feeling the weight
A new cartoon illustrating how start-ups with previously high valuations are finding it hard to get acquired.
2023: Top five fintech start-ups of the year
Here are five of the top fintech start-up stories from 2023.
