DailyPay secures $175m in debt and equity to tap new markets
The $75 million equity funding valued the NYC-headquartered fintech at $1.75 billion.
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Synchrony hires former Santander exec Pierre Habis to lead consumer banking
Habis previously served as chief consumer banking and digital transformation officer at Santander.
Cartoon: Thawing
A new cartoon illustrating how hopes of the end of the crypto winter are starting to become real.
US private equity firm WCAS buys majority stake in EquiLend
WCAS will also commit $200 million to fuel the future growth of EquiLend.
India’s CSB Bank taps Oracle for Flexcube core
The bank is set to replace its homegrown Maarvel core system with Flexcube.
FinTech Futures: Top five news stories of the week – 19 January 2024
Our pick of the top fintech news stories this week includes Citi, Sainsbury’s Bank and more.
LatAm fintech Pomelo secures $40m Series B led by Kaszek
The fintech has now raised $103 million to date, including a $35 million Series A in October 2021.
Business spend management platform Payhawk lands UK EMI licence
The fintech unicorn previously gained an EMI licence from the central bank of Lithuania in July.
ICYMI fintech funding round-up: Prometeo, Zeal, Detected and Finbridge Global
A handy round-up of the recent funding endeavours of fintech companies across the globe.
NPCI teams up with Google Pay to expand UPI beyond India
UPI has been recognised as a key accelerant in the real-time availability of financial services in India.
India’s DMI Group snaps up BNPL fintech ZestMoney
The fire sale deal follows reports in December last year that ZestMoney was closing down.
Sainsbury’s set to wind down banking business
The UK retailer has also confirmed the departure of Jim Brown, Sainsbury’s Bank’s CEO of almost five years.
German AML regtech Hawk AI names Michael Shearer as new chief solution officer
Shearer previously served as group head of compliance product management at HSBC.
Hong Kong’s Allied Banking Corporation extends Finastra partnership with core upgrade
The group is migrating from Finastra’s Equation core to its cloud-based Essence solution.
DirectID founder James Varga departs after 13 years
Varga says he has made the “pivotal decision to move on” from the Scottish risk and decisioning firm.
Colorado’s Elevations Credit Union partners Alkami for digital banking platform
The credit union hopes Alkami’s digital platform will help it grow its retail and business portfolio.
Specialist neobank Panacea Financial bags $24.5m Series B funding
Panacea says it will use the capital to expand its financial services suite built for US doctors.
Gigs appoints Adyen alumni Steven van Bommel as head of finance
The telecom-as-a-service platform has previously tapped talent from Nubank, Klarna and Revolut.
Danske Bank adopts Broadridge’s Tbricks for multi-asset trading and market making
Tbricks is the US-headquartered fintech’s principal trading and market making solution.
Nepal’s Kumari Bank taps Compass Plus Technologies for payments processing
The pair states that it has migrated over 500,000 cards, 1,200 POS terminals and almost 300 ATMs.
The ai Corporation names CCO Piers Horak as new CEO
Horak succeeds Dr Mark Goldspink in the role after over 10 years with the UK-based paytech.
Save the date: The Banking Tech Awards celebrates its 25th anniversary on 4 December
Nominations for the 25th annual Banking Tech Awards will open this spring.
Encompass Corporation snaps up CoorpID and Blacksmith KYC from ING
Encompass is to acquire 100% of both ING companies for an undisclosed sum.
Paymob lands PSP licence from Oman’s central bank
Paymob now claims to be the first international fintech company to be fully licenced in Oman.
Global Credit Union to acquire First Financial Northwest Bank for $231m
The transaction is expected to close in Q4 2024, subject to approvals and customary closing conditions.
UK car finance fintech Carmoola lands £15.5m in equity funding
The start-up previously secured a £95m debt facility from NatWest and an £8.5m Series A round in February 2023.
Digital asset firm HashKey bags $100m Series A funding at unicorn valuation
The latest round saw participation from both new and existing investors, HashKey says, without divulging names.
10x Banking raises $45m to fuel expansion efforts
The raise marks 10x’s first funding round since its Series C in June 2021, when it bagged $187 million.
Citigroup to cut 20,000 jobs over two years after Q4 downturn
The bank is anticipating run rate savings of $2 billion as a result of the cuts.
Subscription billing fintech Recurly names Joe Rohrlich as CEO
Rohrlich previously served as CEO of Top Hat, a US-based higher education engagement platform.
Canada’s Vancity names Wellington Holbrook as president and CEO
Holbrook takes over from Nez Aquino, who has served as interim CEO since July 2023.
Singapore’s GXS Bank reportedly receives $109m investment from parent company Grab
The capital injection follows a $104m investment in July and a $56.8m investment in April last year.
Aeon Bank given the go-ahead to commence digital banking operations in Malaysia
The bank expects to roll out a Sharia-complaint banking app within the next six months.
Commerzbank forms joint venture with Global Payments for SME payment solutions
The new joint venture, Commerz Globalpay, is expected to launch in H1 2024 and will be based in Frankfurt.
Brazil’s Conta Simples plots product expansion following $41.5m Series B
The company last raised $24 million during a Series A round in December 2021.
JP Morgan Chase-owned WePay reportedly offboards a number of business clients
JP Morgan Chase bought WePay back in 2017 in a $400 million deal in a push to compete with Stripe.
US-based Citizens State Bank taps Revio to fuel customer growth
The bank will adopt the Revio platform to tap customer expansion opportunities.
ClearBank names Paul Staples as new group head of embedded banking
Staples has previously served as global head of HSBC’s BaaS and embedded finance proposition.
Circle gears up for second attempt at IPO with new SEC filing
The stablecoin company has confidentially submitted a draft registration statement with the US regulator.
FinTech Futures: Top five news stories of the week – 12 January 2024
Our pick of the top fintech news stories this week includes Zilo, Ant Group, FirstOntario and more.
