UK’s National Audit Office launches FCA review
The review will examine how the FCA is working to overcome new challenges and take advantage of opportunities.
FinTech
FusionIQ integrates with wealth management platform Blueleaf
The integration seeks to provide wealth managers with the tools needed to boost their digital transformation.
Spend management platform EnKash launches Olympus solution for businesses
The solution targets MMEs that lack experience and accessibility of financial and non-financial products.
Mexican start-up mattilda lands $19m Series A funding
The capital will be used to accelerate its growth in Mexico and fuel its international expansion plans.
Banking Tech Awards USA 2023 winner: Fincom – 90% cost reduction in AML sanctions screening
Fincom’s AML Sanctions Screening solution won the AML & Compliance Tech of the Future at the awards.
Bank of America fined by US regulators over fake accounts and junk fees
The CFPB has ordered Bank of America to pay $150m in penalties and more than $100m to affected consumers.
FinTech Futures celebrates 40th anniversary with unforgettable summer party in London
Watch the highlights video from FinTech Futures’ 40th anniversary summer networking party.
Car IQ partners Visa to enable in-vehicle payments
Car IQ Pay vehicle wallet enables vehicles to have their own payment accounts to transact directly with merchants.
Global fintech investment falls over H1 2023 amid economic turbulence but sector remains resilient
According to Innovate Finance data, $27.3bn was injected into the industry globally during H1 2023 through 1,714 deals.
ICYMI fintech funding round-up: Efficient Capital Labs, CapStack 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 – 14 July 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
FinTech Futures Jobs: Is the era of “move fast and break things” over?
Explore thousands of open roles on the FinTech Futures Job Board today.
Alexander Weber departs as CGO of German challenger N26
Weber is departing the position to pursue his own entrepreneurial journey.
BKN301 names Mahesh Paolini-Subramanya as new CTO
He joins BKN301 Group from Klar, a digital bank in Mexico, where he served as CTO for a year.
AI-driven financial services must also champion fraud prevention, FCA warns
Cybersecurity must develop in tandem with AI, the regulator’s chief executive said this week.
German fintech Moss taps GoCardless to power its UK push
The London-based bank payment company becomes the UK direct debit provider to Moss’ UK expansion.
Convera taps Temenos to modernise payments infrastructure
Convera will deploy Temenos’ Payments Hub solution running in the Temenos Cloud to replace its legacy systems.
Monzo reportedly eyeing merger with Nordic neobank Lunar
According to Bloomberg, the potential deal would form part of a European expansion push for Monzo.
DBS Bank to sell majority stake in AXS to Tower Capital Asia
The bank has struck an agreement this week to sell a 77.8% stake in AXS to the private equity firm.
UK fintech Suits Me looks to revive face-to-face banking with new digital service
The service’s arrival is a response to the failings of chatbots.
What the FinTech? | S.4 Episode 11 | Blockchain and the future of corporate actions processing
In the latest episode of the podcast, we’re joined by Whikie Liu, Strategy Director, Capital Markets at Swift.
US fintech start-up MerQube lands $22m Series B funding
The round was led by Intel Capital, with participation from new investor Allianz Life Ventures, and existing investors.
Defacto secures credit facility of up to €167m with Citi and Viola Credit
The fund will have an initial size of €67 million, with increases subject to consent from the lenders.
Strategy is good, but constraint awareness is better
Be honest and mindful of your constraints and make choices that mitigate their impact.
The Bank of London formally submits application for EU banking licence
The firm is setting up a new base in Luxembourg and will invest €200m in the country and across the wider EU.
Fiinu to scale back operations amid continued efforts to source fresh funding
Fiinu’s cost reduction plans include staff redundancies.
US accounting fintech Jirav raises $20m Series B funding
With the funds, Jirav plans to fuel product development, expand its customer base and attract new talent.
Ten UK credit unions tap Engage for Faster Payments Service
The community banking platform’s FPS offering is projected to benefit 100,000 credit union members.
Collective raises $50m to deliver “financial peace of mind” for freelancers
With the new funding, Collective plans to accelerate AI deployment across its operations and add new features.
James Dixon named as new Allied Payment Network CISO
Dixon intends to “ensure fast and secure payments” and bolster Allied’s information security practices.
Legal & General extends cloud migration agreement with Kyndryl
The new seven-year agreement is to last until 31 March 2030.
Payoneer becomes latest fintech to cut jobs
The US payments platform is to cut 9% of its workforce by Q3 2023.
GoCardless names Franck Cohen as first chairman of the board
GoCardless CEO says the appointment brings them the the ability to make “fast and effective decisions”.
Solaris raises €38m in funding to strengthen governance and compliance
The company says it will use the funding to strengthen its governance and compliance.
Norway’s SPK selects Mambu and Knowit to support its upcoming housing loan solution
Mambu’s cloud technology and Knowit’s loan origination solution are to support the SPK’s housing loan offering.
Grow Finance joins Pismo as its first Australian client for card issuance
Launching this September, Grow seeks to provide businesses with better cash flow, management and capital.
Tarabut Gateway names Tariq Sanad as new CFO
Tarabut Gateway says Sanad excels “particularly in scaling growth start-ups post-Series A”.
Egypt Post meets SME financing capabilities with Qardy partnership
Qardy will provide its financing services to Egypt’s SME community through Egypt Post’s numerous post offices.
Silverbird announces Stu Bailey as new CPO
Bailey’s appointment will seek to assist Silverbird in “liberating cross-border trade” for SMEs.
China imposes hefty fines on Ant Group and Tencent as it looks to normalise supervision
Ant Group and its subsidiaries have received a penalty of $984.3m, and Tenpay has been slapped a fine of $413m.
