Lack of funding forces US credit card fintech Ness to close down
Having raised $15.5 million in seed funding, the fintech had hoped to raise an additional $40 million but to no avail.
FinTech
Apple Pay rolls out new open banking feature for UK customers
Apple Pay’s UK customers can access their “most relevant” account information at the time of purchase.
ICYMI fintech funding round-up: Refine Intelligence, Apiture, Solvimon and more
Our weekly fintech round-up for you to get the latest funding news from around the world.
FinTech Futures: Top five stories of the week – 17 November 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
The irony of incumbent core banking vendors
Incumbent core banking vendors have become the very thing they have been selling banks to replace.
Lynx raises £15m Series A funding to fight fraud and financial crime
Created 20 years ago, Lynx leverages AI and machine learning to detect and prevent financial crime.
Redpin launches with new strategy and £140m in funding
The launch follows a previous £140 million investment that Redpin received from Blackstone, Palamon and Corsair.
Q2 Holdings announces leadership changes with new senior hires
Himagiri Mukkamala joins as CDO, Beth-Anne Bygum as CISO and Blair Williams as CRO.
Skin in the game
An organisation that lives by its values is worth more than gold.
FinTech Founders Video: upcoming trends – embedding community values
In this episode, fintech founders share their experienced of building values for a new digital vision.
Japan’s MUFG pens multi-year partnership with AWS for digital transformation
By moving to the cloud, AWS claims that MUFG has been able to reduce IT operational costs by 20%.
Fintel makes double acquisition of VouchedFor and AKG for combined £9.1m
The deals mark Fintel’s third and fourth acquisitions of the year, following deals for Micap and Competent Adviser.
From VRPs to AI: Innovation takes centre stage at day two of Fintech Talents
Payments innovation and the regulation of AI were hot topics of discussion at this year’s Fintech Talents Festival.
Saudi BNPL start-up Tamara expands lending capacity to $400m with Goldman Sachs
The company has secured an additional $250 million in debt financing to support its lending operations.
Levenue lands €8m Series A funding from Truffle Capital, acquires Cake
Levenue provides a marketplace for subscription-based businesses to connect with investors and access financing.
Moneythor launches Customer Activation Management platform
Moneythor’s Customer Activation Management aims to help banks achieve long-term customer profitability.
Report: Increasing new customer acquisition and engagement in digital banking
The findings and analysis of a survey to identify key issues around new customer acquisition in digital banking.
UK fintech Fnality raises £77.7m in Goldman Sachs and BNP Paribas-led Series B
The fintech’s Series B also saw participation from existing investors BNY Mellon, UBS and Nasdaq Ventures.
FinTech Wales seeks new CEO as Sarah Williams-Gardener transitions to chair
Effective January, Williams-Gardener succeeds former Confused CEO Louise O’Shea as chair of the organisation.
Video: Atomic at Money20/20 USA 2023 – Powering financial connectivity
Atomic’s Andrea Martone discusses how the firm is helping businesses align with the CFPB’s vision for open banking.
Co-branded credit card fintech Imprint lands $75m in Series B funding
The round was led by Ribbit Capital with participation from existing investors Kleiner Perkins and Thrive Capital.
Regulators should greenlight more M&A among banks and fintechs to avoid bankruptcies
Consolidation and M&As can create an environment where dynamic regional banking ecosystems can flourish.
FinTech Founders Video: building a versatile team – how to get the best out of your employees
First-hand insights and learnings of fintech founders on how to strategically build a versatile team.
AI, BaaS and identity: Inside day one of the Fintech Talents Festival
Hosted at The Brewery, London, the festival has this year attracted over 2,000 delegates and 400 speakers.
Report: State of verification and monitoring in the crypto industry
Data-driven study into verification practices among crypto businesses: checks, budgets, pass rates.
US fintech Carta reportedly conducts third round of layoffs this year
The cuts were first reported by Fortune, but the total number of employees impacted is currently unknown.
Demystify Podcast: Demystifying embedded banking success with Chris Dean and Chris Tremont
Grasshopper and Treasury Prime are thriving at a time when so many neobanks and BaaS providers are struggling.
RTGS.global signs pilot agreements for settlement service with three new banks
The three banks are Tajikistan-based Alif Bank and Bank Arvand and Montenegro’s Universal Capital Bank.
Report: The state of UX research in financial services
Learn how to create superior financial experiences that foster innovation and customer loyalty.
Landsbankinn partners Meniga to launch open banking-powered PIS and AIS services
The bank claims the new services mark a “significant breakthrough in the realm of open banking within Iceland”.
Join us at our CMO roundtable and Christmas networking party on 5 December
Register now to join our CMO roundtable and Christmas networking party on 5 December in London.
SC Ventures and SBI Holdings to jointly launch digital asset investment firm in UAE
The joint venture will initially receive a $100 million capitalisation from both companies.
Edwina Johnson joins MoneyGram as general manager
Johnson joins MoneyGram from fintech firm Alloy where she worked for over six years.
Unlocking Alpha: how AI is helping investors fine-tune their strategies
FinTech Futures speaks with the founders of 3AI to discuss how AI technology can transform investing strategies.
FinTech Founders Video: building company culture – team building achievements
We explore various aspects of how to build company culture and what can be achieved as a team.
Video: Socure at Money20/20 USA 2023 – Fighting first-party fraud
We chat with Socure’s Johnny Ayers about the launch of the company’s Sigma Identity Fraud solution.
Wise temporarily pauses new business onboarding in Europe
The company says it is “working to resume onboarding businesses in Europe as a priority”.
Block’s Cash App withdraws bid for Irish virtual asset licence
Cash App had been pursuing a VASP licence in the country since 2021.
India’s InCred Finance secures unicorn status with $60m Series D funding
The Series D funding round takes InCred Finance’s valuation up to $1.05 billion.
Canadian Tire reacquires Scotiabank’s 20% stake in its financial services arm in $650m deal
Scotiabank first bought its 20% stake in May 2014 for around $460 million.
