Fintech start-up Xalts grants Contour Network new lease of life with announced acquisition
Contour previously announced in October 2023 that it was to wind down operations as a result of insufficient funding.
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Danish start-up Franklin launches Visa cards for e-commerce merchants
Franklin has raised €350,000 to date from various business angels.
Australia’s Summerland Bank taps nCino for loan origination solution
The bank will leverage nCino’s Cloud Banking Platform across its consumer and business lending operations.
JP Morgan and fellow Viva Wallet shareholder WeRealize exchange lawsuits
The lawsuits follow reports of disputes over Viva Wallet board nominations last month.
US hospitality fintech Toast to cut 550 jobs as part of restructuring plan
The fintech says the restructuring plan is intended to “promote overall operating expense efficiency”.
Former head of Visa Direct Ruben Salazar Genovez appointed new TerraPay president
Salazar Genovez joins TerraPay directly from a 10-year tenure at Visa Direct.
Capital One acquires Discover Financial Services in $35bn deal
The transaction brings together two of the largest card issuers in the US.
Germany’s BaFin warns Deutsche Bank of potential fines if it doesn’t improve money laundering controls
BaFin has extended its monitoring of Deutsche Bank until 30 October 2024.
Blockchain intelligence start-up Crystal hires Navin Gupta as new CEO
Gupta succeeds Marina Khaustova in the role, who will now shift to the position of COO.
Personetics appoints Udi Ziv as new CEO as co-founder David Sosna steps down
Ziv has previously been CEO at Kissterra, Earnix and Pontis in recent years.
New Aussie financial wellness app Subi launches from beta
Subi’s partners at launch include BambooHR, KeyPay, MYOB and Xero.
Checkout.com’s UK business posts $126.3m loss for 2022
The latest results mark an increase of over 400% on the $24.5 million loss it posted for 2021.
FullCircl expands leadership team with three new exec appointments
Andrew Yates, CEO of FullCircl, says the appointments are “the next building block in FullCircl’s journey”.
Joy Cheng named as new head of Citi Commercial Bank in Hong Kong
Cheng first joined Citi back in 1993, and has since risen through the ranks of its corporate banking division.
Octopus to increase ownership stake in Seccl, co-founders David Harvey and Hugo Thorman set to depart
Octopus originally acquired the company back in 2019 in a £10 million deal.
Mexican neobank Hey Banco’s split from Banregio due for 2025
The move, announced in 2020, was expedited by Hey Banco’s banking licence authorisation last July.
Canada’s EQ Bank taps Trulioo for ID verification solution
EQ Bank to leverage Trulioo’s “customised onboarding experiences” to stay ahead of industry practices.
Luzerner Kantonalbank selects Finmechanics tech for markets business overhaul
The Swiss bank is to replace its legacy system for position and risk management with FM Converge.
ICYMI fintech funding round-up: Fordefi, Mia Share, Kema, Coba and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
RockWallet bags former Wyre users after acquiring the firm’s full customer base
The companies have not disclosed the amount paid for Wyre’s customer base.
US Bank partners Pagaya Technologies for inclusive lending with AI
The bank is to instate Pagaya’s AI tech within its Simple Loan function.
Mission Lane appoints former board member Brandon Black as new CEO
Previous CEO Shane Holdaway will guide the firm’s transition as special advisor to Black.
FinTech Futures: Top five news stories of the week – 16 February 2024
Our pick of the top fintech news stories this week includes Monese, Virgin Money, Bank of America and more.
Sopra Banking Software names ex-Fiserv exec Andrew Steadman as new CPO
The new CPO will head the French fintech’s SaaS product and innovation strategy.
India’s Bandhan Bank goes live with Oracle’s Flexcube core banking tech
The bank has also implemented Oracle’s Banking Digital Experience and Oracle Payments solutions, among others.
Colombia’s Bold bags $50m Series C for next phase of growth
The round builds on the $55 million secured by Bold through its Series B of February 2022.
India’s Unico Housing Finance secures multi-application Oracle Cloud Infrastructure deal
The integration marks the start-up’s attempt to improve the market agility of its digital loan services.
UK lender Bevan Money announces new CEO to guide final regulatory authorisation stages
Bevan applied for a banking licence last May, with plans to provide mortgages for public sector workers.
Nigerian bank Carbon acquires Vella Finance, launches new AI banking platform for SMEs
The platform will enable Nigerian businesses to access loans and AI-powered transactional insights.
Family finance app Nosso becomes latest UK fintech to wind down operations
The start-up’s app helped parents invest and plan for their children’s financial futures.
PNC Bank to invest nearly $1bn to renovate and expand its US branch network
PNC plans to renovate more than 1,200 existing locations and open more than 100 new branches by 2028.
LPL Financial snaps up Atria Wealth Solutions for $805m
The acquisition will see LPL Financial take ownership of Atria’s seven broker-dealer subsidiaries.
Virgin Money buys out Abrdn stake in investments joint venture
The pair expect to close the all-cash transaction in April.
Trustly expands leadership team in preparation for European expansion
The appointments follow Trustly’s recent acquisitions of SlimPay and Ecospend.
Swedish VC firm Kinnevik writes off Monese investment in full
The investor has owned 21% of Monese since leading its $60 million Series B round back in 2018.
Ripple acquires Standard Custody & Trust Company to strengthen regulatory licences
Ripple has recently announced custody partnerships with HSBC, BBVA and Zodia Custody.
Canada’s Float bags $37m credit facility from Silicon Valley Bank
The Toronto-based fintech says the new facility will be used to expand its Charge Card programme.
Digital business bank Grasshopper partners Greenlite for AI-powered due diligence tech
Greenlite’s tech will enable the bank to streamline manual data aggregation and client risk assessments.
Wealthify taps embedded banking platform ClearBank to power its new savings account
Wealthify’s new instant savings account will offer an interest rate of 4.91% AER / 4.80% gross.
Duncan Cockburn steps down as OneBanx CEO to join insurtech unicorn Zego
Cockburn says he has decided to “step back from the role and embark on a new challenge”.
