Covalto to become Mexico’s first US-listed fintech following SPAC merger
The deal values Covalto at $547 million and will see the firm listed on the Nasdaq exchange.
FinTech
How open banking payments will help businesses keep up
With open banking, businesses have what they need to provide a frictionless checkout experience.
Underwriting with alternative and cash flow data
Use of non-bureau, “alternative’’ credit data can help better understand the risk of a consumer.
FinTech Futures: Top five stories of the week – 19 August 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
FinTech Futures Jobs: Here’s how to position yourself as a leader at work
Explore thousands of open roles on the FinTech Futures Job Board today.
Australian crypto exchange Swyftx cuts 21% of workforce
Swyftx says 74 employees will be laid off as the firm grapples with global economic uncertainty.
eToro snaps up options trading start-up Gatsby
eToro says the acquisition is a “key step” as it looks to diversify its offering to US users.
OpenFin appoints new chief digital officer, Vicky Sanders
Sanders will drive OpenFin’s digital transformation efforts for end-users across its ecosystem.
Fintech start-up Pomelo raises $70m in seed financing
Pomelo’s investors include celebrities The Chainsmokers and The Weeknd.
BankProv and Republic partner to offer escrow accounts to capital-hungry firms
BankProv CEO Dave Mansfield says working with Republic will “expand access to new investment opportunities”.
ICYMI fintech funding round-up: Farther, BankiFi, Highbeam and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Blockchain, tokenisation and financial inclusion
The potential for Web3 to enable financial inclusion in populations is tremendous.
UK mortgage lender Perenna obtains banking licence
Perenna intends to offer long-term fixed rate mortgages in the near future.
Investment platform Vyzer taps Salt Edge for open banking API solution
The firm will leverage Salt Edge’s Account Information API and data enrichment solutions.
Remitly set to acquire Israeli fintech Rewire for $80m
The transaction is expected to close in H2 2022 subject to regulatory approvals.
Proptech IMMO hires Hima Mandali as new CTO
Mandali will be responsible for scaling and developing the firm’s platform and products.
Lithuania’s OKEO taps Mambu for multi-currency payments offering
Founded in 2019, OKEO provides payment services and IBAN accounts for businesses in Europe.
Sally’s ponytail
If you mean well, do well. Let your actions speak to your motives.
Fintech start-up Arc lands $20m in Series A funding
Arc will use the funding to accelerate its growth and expand the availability of its treasury and software products.
Zurich Cantonal Bank taps NetGuardians to tackle payments fraud
NetGuardians uses behavioural analytics, artificial intelligence (AI) and machine learning (ML) to detect fraud.
Paytech consultancy Focused Labs joins Stripe partner ecosystem
Focused Labs builds custom software products and integrations, including core payments infrastructure.
Trustfolio teams up with Equifax for open banking-powered debt advisory solution
The solution on Trustfolio’s Debt Adviser Support Portal will provide access to banking transaction data.
Banks, broccoli and the peril of going out of date
Like broccoli, a bank can go out of date before anybody realises.
Nordic firm Axo snaps up digital credit-scoring platform Defero
Defero’s CEO will join Axo’s group management team following the transaction.
Paytech Nium appoints Ramana Satyavarapu as new CTO
In his new role, Satyavarapu will be responsible for managing Nium’s global engineering and technology strategy.
BitGo to seek damages of $100m after Galaxy Digital terminates $1.2bn acquisition deal
The merger announcement was initially made in May 2021.
Zopa founder Giles Andrews joins Hoares as non-exec director
Andrews founded Zopa in 2004 and is currently a member of the fintech unicorn’s board.
Bank Islam taps Kestrl to offer financial management tools in Be U app
The firm will incorporate Kestrl’s personal financial management tools into Be U by the end of the year.
Cornerstone FS appoints payments veteran James Hickman as CEO
Hickman has more than 19 years’ worth of experience within the payments industry.
New legislative regulations are a cybersecurity game-changer for the FS industry
The SEC has proposed new cybersecurity regulations that will impact FS businesses.
New debit card fintech Seltz gears up for launch in the US
There are currently over 1,300 sign-ups for the debit card’s waitlist.
AstroPay promotes Sofia Lanza to chief banking officer, appoints new CFO
Founded in 2009, AstroPay provides payment solutions and digital wallet services across the globe.
UN calls for comprehensive crypto regulation in developing countries
The organisation says crypto can “jeopardise the monetary sovereignty of countries”.
Abrdn snaps up stake in digital securities exchange Archax
Through Archax, abrdn aims to provide new investment opportunities to its customers.
Marqeta founder and CEO Jason Gardner to step down
Gardner plans to take on the role of executive chairman once the firm hires his replacement.
Founderpath bags $145m to fund bootstrapped SaaS ventures
Founder Nathan Latka says the firm has deployed over $50m in capital over the last 12 months.
Central Payments lands $30m, spins out from Central Bank of Kansas City
The bank will continue as an investor, issuer and strategic partner.
What comes after cashless?
Data lies at the heart of the financial services sector’s digital transformation.
FinTech Futures Jobs: Is now the time to ask for a raise?
Explore thousands of open roles on the FinTech Futures Job Board today.
FinTech Futures: Top five stories of the week – 12 August 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
