Yes Bank taps IBSFintech to digitise services for corporate clients
The partnership aims to enable paperless communication across treasury and trade finance processes.
FinTech
Income verification platform Truework lands $50m Series C funding
Truework says the funds will support its product development and hiring plans.
Neobank Nuri files for insolvency due to “challenging” market conditions
The Berlin-based neobank says the action will not affect its services, customer funds or investments.
Klarpay AG CEO on bridging the gap between online companies and transactional banking
Klarpay solves one of the biggest challenges faced by digital businesses – access to efficient transactional banking.
German fintech Serrala hires Hartmut Wagner as CEO
Wagner will take over from current CEO Sven Lindemann on 15 August 2022.
Crypto.com gains new licences in South Korea via two acquisitions
The firm has acquired payment service provider PnLink and virtual asset service provider OK-BIT.
CFPB investigating Goldman Sachs over credit card practices
Goldman Sachs says it is cooperating with the regulatory body.
Does a recession lead to more financial fraud?
A recession brings new challenges to FIs within a changing fraud landscape.
Digital makes the world go round: a reflection
We have the tools and resources to do more, and to do better, but more action is needed.
Passive micro-investing app upnup launches in South Africa
The company says micro-investing is a good first step into the space, providing “investment on auto-pilot”.
CIBC partners MX for fintech customer data access agreement
CIBC customers will be able to securely share their financial data with third-party fintechs via an API.
Valley National Bancorp invests $25m in fintech-focused VC The Garage
The Garage builds and invests in early-stage start-ups in fintech, artificial intelligence and cyber.
Indian wealthtech platform Dezerv bags $21m Series A
The new funding has raised the company’s valuation to $100 million.
Tax automation fintech Avalara snapped up by Vista for $8.4bn
Vista Equity Partners will acquire all outstanding shares of Avalara for $93.50 per share.
Payments veteran Steve Ledford retires, leaves The Clearing House
The self-described “payments nerd” says he is leaving the payments industry after 41 years.
UK challenger Dozens set to close by end of the month
The Dozens app is set to close by the end of August.
No more cheerleaders and today’s need for ‘founder fit’
Founders need to take their time considering investors and carry out extensive due diligence processes.
Embedded finance start-up Parafin raises $60m Series B
The funding round was led by GIC, Singapore’s sovereign wealth fund.
Mexican start-up Clara lands $150m debt financing from Goldman Sachs
The debt financing will boost its lending operations and accelerate its expansion throughout Latin America.
Singapore’s UNOAsia raises funds ahead of digital bank full launch
The firm is gearing up for the commercial launch of UNO Digital Bank in the Philippines.
Plugging in: financial services in the metaverse
If there’s one industry buzzword this year that is on almost everybody’s lips, it has to be ‘metaverse’.
South Africa’s TymeBank to acquire SME funding fintech Retail Capital
Retail Capital will form the foundation of an expanded business banking offering within TymeBank.
NatWest’s director of payments leaves to join Bibby Financial Services
Marion King spent over seven years in her role at NatWest.
Cartoon: Dancing in the rain
This new cartoon illustrates how different companies are dealing with the onset of the recession.
Embedded finance: navigating the challenges
There are a few challenges to be aware of before entering the world of embedded finance.
FinTech Futures: Top five stories of the week – 5 August 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Deutsche Bank to automate trade document checking with Traydstream partnership
The partnership will boost the bank’s efforts to digitise and automate its documentary trade business.
FinTech Futures Jobs: Is salary compression pushing you into a new job?
If you’re demotivated by salary compression in your workplace, it may be time for a change.
Singapore-based Robocash Group appoints Natalya Ischenko as new CEO
Ischenko will take over from founder Sergey Sedov, who will remain in the position of chairman of the board.
Mansfield Building Society partners DirectID to streamline mortgage applications
Mortgage applicants can now securely provide their bank statements online via open banking.
South Asia fintech funding round-up: Twid, Jify, OneLoad and Bluecopa
A handy round-up of recent funding endeavours of fintech companies across India and Pakistan.
US fintech funding round-up: Leapfin, Compliance.ai, Revolv3 and more
Our handy weekly fintech funding round-up covering news from US start-ups.
Umba acquires 66.6% stake in Kenyan microfinance lender Daraja
The Central Bank of Kenya says the deal will “support the stability of Kenya’s microfinance banking sector”.
XR, banks and rewiring the system
Rewiring the economic system will be a challenge, but I think it’s supercritical.
Paystand buys Yaydoo to expand B2B payments network across Americas
Paystand says the combined company “will redefine the boundaries of B2B fintech” across the Americas.
Growth capital firm Clearco cuts 125 jobs citing “significant” economic headwinds
Clearco founders cite rising interest rates, high inflation and e-commerce growth slowdown as factors.
Dubai BNPL firm Tabby secures $150m debt financing
The debt financing has been supplied by Atalaya Capital Management and existing investor Partners for Growth.
American Express launches cross-border payments solution for US SMBs
The Global Pay platform is currently available to US American Express small business card members.
Spare me your ‘good conversations’
A good conversation is one that leads to an outcome that isn’t an identical conversation.
Robinhood to cut 23% of staff, crypto unit fined $30m
Robinhood CEO Vlad Tenev says previous staff cuts announced in April “did not go far enough”.
