JP Morgan Chase appoints new chief data and analytics officer
Heitsenrether will be responsible for leading the adoption of AI across the bank’s operations.
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PE firm Flexpoint Ford acquires loan origination fintech Baker Hill
The transaction is expected to close soon following customary regulatory approvals.
Robinhood snaps up credit card platform X1 for $95m
The acquisition is expected to close in Q3 2023, subject to customary closing conditions.
FinTech Futures: Top five stories of the week – 23 June 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
ICYMI fintech funding round-up: Mypinpad, Navadhan, TransBnk & more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
UK paytech Ryft introduces in-person card payments to St Helena
Ryft says the small, remote island has “historically struggled” to access international payment platforms.
PayPal to sell up to €40bn of European BNPL loans to KKR
The transaction, subject to certain conditions, is expected to close in the second half of 2023.
US paytech Fortis expands into Canada, acquires SmartPay
The move marks Fortis’ first expansion outside the United States.
Google Cloud launches AI-powered AML offering for financial institutions
Google Cloud claims its AML AI solution helps increase risk detection and lower operational cost.
Puerto Rico’s Segura Bank taps Temenos to power new digital bank offering
The new digital banking platform for Latin Americans is expected to go live in the coming months.
Visa names Chris Suh as new chief financial officer
Suh replaces longstanding Visa CFO Vasant Prabhu, who is set to retire on 30 September.
UK paytech Volt secures $60m in Series B funding
With the new funds, the company plans to expand into APAC and the US.
ACI Worldwide launches Instant Pay solution for European merchants
Merchants using Instant Pay will be able to accept instant online, mobile and in-store payments.
Okoora launches integrated payments, banking and risk management platform
To facilitate its expansion, the start-up has submitted licence applications in multiple European countries.
CFIT appoints Stephen Ingledew and Alex Marsh as independent non-executive directors
Stephen Ingledew is chairman of FinTech Scotland and Alex Marsh is the former head of Klarna UK.
Jordan Ahli Bank launches social payment app Qawn powered by Thought Machine
Qawn runs on Thought Machine’s cloud-native core banking platform, Vault Core.
Cartoon: Rules of the road
A new cartoon illustrating the enforcement approach that US regulators are taking with the crypto industry.
Mediobanca’s Compass acquires HeidiPay Switzerland
The acquisition will enable Compass to become a consumer credit operator in the Swiss market.
Bankable acquires embedded finance platform Arex Markets
With the acquisition, Bankable will be able to embed credit and working capital into the payment flows of fintechs.
Philippines signs MoU with India to strengthen fintech cooperation
The MoU will help establish a joint working group on fintech between the two countries.
SVB Financial Group agrees sale of its investment banking business, SVB Securities
The bidding group is led by Jeff Leerink, SVB Securities’ CEO and founder.
Colombia’s central bank taps Ripple to test blockchain use cases
The central bank plans to test Ripple’s CBDC platform in a controlled environment.
ClearScore launches in New Zealand
ClearScore says it will be adding new financial partners in New Zealand over the coming months.
Intesa Sanpaolo’s Isybank goes live on Thought Machine core
The digital bank has gone live 12 months after it first initiated the deal with Thought Machine.
Citi TTS taps Pismo to strengthen demand deposit account solutions
Citi will initially deploy Pismo’s cloud-based core solutions in the US market.
Binance exits Netherlands; under investigation in France
Binance failed to secure a virtual asset service provider (VASP) licence in the Netherlands.
US risk intelligence firm Blackbird.AI lands $20m Series B
Blackbird.AI helps organisations detect and respond to threats that can cause reputational and financial harm.
Europe funding round-up: DJUST, Apron, Trezy and more
A handy round-up of the recent funding endeavours of fintech companies across Europe.
UK challenger Zopa appoints new COO and CTO
Kate Erb joins as chief operating officer (COO) and Peter Donlon as chief technology officer (CTO).
Diamond Trust Bank in treasury management tech revamp with Profile Software
Profile’s Acumen.plus supports DTB’s treasury management ops in Kenya, Uganda, and Tanzania.
ICYMI fintech funding round-up: Kanastra, Majority & Cloudbankin
Our weekly fintech round-up for you to get the latest funding news from around the world.
Digital banking tech provider Backbase acquires wealthtech Nucoro
Nucoro’s offering will be incorporated into the Backbase Engagement Banking platform.
Mastercard and Bankiom to launch virtual prepaid cards across the GCC
With the partnership, Mastercard aims to drive digitalisation in the GCC payments landscape.
Fintech scale-up Yapily appoints Tanya Ziv as COO
Tanya Ziv moves from fellow fintech Currencycloud where she was chief compliance officer.
Market Pay acquires Polish paytech Novelpay in European expansion push
This is Market Pay’s third acquisition in less than two years.
Payments Canada further delays launch of real-time payment system
During the next three months, Payments Canada will review the risks identified in the delivery of the Real-Time Rail.
US fintech start-up Paro lands $25m Series C funding
With the latest funding, Paro has raised $67 million to date.
Wealthtech OneVest secures CA$17m in Series A funding
It will use the funding to accelerate growth, expand into the US market, and to expand its team.
Keytrade Bank in core banking tech overhaul with Infosys Finacle
Keytrade Bank chose Infosys Finacle due to its “worldwide expertise, implementation plan and price offering”.
FIA Tech raises additional $25.4m in funding round
The fresh funding brings its total capital raised to almost $70 million.
