India’s PhonePe reportedly planning to launch consumer lending in January 2024
According to sources, over the next six to seven months, PhonePe plans to launch multiple consumer credit products.
FinTech
Are we AI ready?
As we continue to layer AI technology into our day-to-day lives, the risks continue to multiply.
Demystify Podcast: What banking can learn from telecoms with Herve Manceron, Skaleet
What banking can learn from the telecoms industry that has already undergone cloud technology transformation.
Berkshire Hathaway sells stake in India’s Paytm for $165m
The exit sets Berkshire Hathaway up for a loss of around 40% on its investment.
European Central Bank highlights continued sector-wide risk in latest Financial Stability Review
The ECB says residential and commercial real estate markets face “downside surprises” due to inflation.
Barclays could reportedly cut around 2,000 jobs in push to reduce costs by £1bn
Reuters reports that the bank’s managers are looking to increase profitability and are reviewing proposals.
Orange launches super-app Max it in Africa
The app will debut in Cameroon, Senegal, Mali, Burkina Faso and Botswana.
What the FinTech? | S.4 Episode 22 | Personalisation in digital banking
In this episode of the podcast, we’re joined by Olivier Berthier, CEO of Moneythor.
UK financial services firms cautious but keen to adopt GenAI, new survey says
The study surveyed 23 members of UK Finance, including banks and non-banking financial services firms.
Funding Circle and Atom Bank to provide an additional £150m in financing to UK SMEs
The third such partnership between the two firms takes Atom’s total lending with Funding Circle up to £800m.
Reimagining agribusiness in Africa with VeryPay’s e-wallet companion solution
The journey for VeryPay is not just about facilitating transactions; it’s a profound movement towards reshaping and enriching lives.
A glance ahead: the European payments landscape in 2024
2024 is set to be a year of innovation and change for the European payments landscape.
FCA greenlights Klarna for payment and credit services in the UK
A newly formed entity, Klarna Financial Services UK, will now provide all consumer-facing services in the country.
ICYMI fintech funding round-up: Kiwi, ID Finance, Crezco and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
FinTech Futures: Top five stories of the week – 24 November 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
UK’s Kodelab to provide lending tech for HKMA CBDC pilot with Ripple and Fubon Bank
The pilot is part of the HKMA’s three-stage approach to CBDC development.
Mexican fintech start-up Trafalgar taps Thought Machine for core banking technology
Trafalagar plans to launch its new platform, running on Vault Core, in Q2 2024.
The intersection of finance and sustainability
Companies such as HeavyFinance in Lithuania are combining fintech with sustainable agricultural practices.
Binance CEO exits after pleading guilty to money laundering charges
Binance has agreed to pay $4.3bn in “one of the largest corporate penalties in US history”.
UAE fintech start-up Dosh Payments gears up for full launch, lands tech licence from ADGM
Claiming to be the Middle East’s first social payments app, Dosh Payments has been building in stealth since 2021.
After Binance and Coinbase, the US SEC sues crypto exchange Kraken
Kraken says it disagrees with the allegations and aims to “vigorously defend” itself in court.
Fexco hires ex-JP Morgan Payments director Sara Savidge as CEO of corporate payments
Savidge previously served in several high profile roles at JP Morgan Payments, most recently as managing director.
Crypto payments firm BCB Group names Oliver Tonkin as new CEO
Tonkin co-founded the firm with Oliver von Landsberg-Sadie, who he will succeed as CEO.
This can’t be right
The only way to support people who need money is to give them fair, affordable and speedy access to it.
BBVA Switzerland selects Metaco’s Harmonize to power digital asset operations
Metaco will work with the bank’s existing partner Avaloq to deploy its digital assets offering.
What the FinTech? | S.4 Episode 21 | Managing chargebacks and payment disputes
In this episode of the podcast, we’re joined by Monica Eaton, founder and CEO of Chargebacks911.
UK fintech Triver secures £20m debt facility from Avellinia Capital
Triver says the new facility will enable it to offer more than £200 million in funding annually to small businesses.
Fils launches as digital ESG infrastructure for payments sector
Founder Nameer Khan describes his latest venture as “a catalyst for the evolution of ESG enforcement”.
Blue Ridge Bank set to trim BaaS fintech partnerships down to a “limited number”
The bank was flagged by the OCC last year for “unsafe or unsound” practices concerning its BaaS business.
Checkout.com appoints Mariano Albera as new chief technology officer
Albera has been with Checkout.com for the last three years, serving as senior vice president of engineering.
French digital accounting start-up Indy lands €40m Series C funding
The round was led by European private equity firm BlackFin Capital Partners.
Jordan Ahli Bank taps Fintech Galaxy to comply with open banking standards
The bank’s customers will now be able to share their financial and banking data with third-party apps.
US credit card fintech Petal reportedly eyeing potential sale
According to a report by Fortune, sources say the start-up has received multiple offers for acquisition.
US challenger HMBradley winds down consumer business, eyes B2B space
“Our consumer brand growth was falling short of our goals,” says HMBradley CEO and co-founder Zach Brunke.
US fintech Brex names Karandeep Anand as its first president
Anand first joined Brex in January 2022 as chief product officer.
WeLab launches Bank Saqu as its second digital bank in Asia
The newly launched digital bank aims to target the younger generations, with a focus on solopreneurs in Indonesia.
UK-Africa remittance start-up Zazuu closes down
Founded in 2018, Zazuu operated a marketplace for cross-border payment networks in Africa.
Egypt’s KashNow partners Sandah to provide small businesses with access to financing
Small businesses will now be able to submit loan applications through the KashNow app.
US lender Enova fined $15m by CFPB for “widespread illegal conduct”
Enova says it has reached an agreement with the CFPB, with the majority of items being self-reported by the firm.
Driving competitive advantage in financial services with UX research
The role of UX is to be the voice of the customer in the journey of transformation and solution discovery.
