Alipay partners Splitit for ‘pay after delivery’ offering
The service will initially launch in Germany, France and Spain, with plans to expand into other global markets.
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Clearco lays off 30% of workforce, CEO Michele Romanow resigns
Romanow will reportedly transition to the role of executive co-chair and remain on the company’s board.
Goldman Sachs loses $3bn over three years on platform solutions business
Reuters reports the firm outlined a pre-tax loss of $1.2bn for the first nine months of 2022.
BNPL fintech Tabby lands $58m in Series C funding
The Dubai-based firm plans to use the funding to support its growth and expand its product line.
Chief strategy and digital officer of Banque Saudi Fransi departs
He describes his tenure at BSF as an “amazing four years” in a LinkedIn post about his departure.
State Bank of Pakistan names five successful digital bank applicants
The country’s central bank and regulator expects these new digital banks to promote financial inclusion.
UK fintech Paddle cuts 8% of workforce
Founder and CEO Christian Owens says the firm is looking to “adapt to what will be leaner times going forward”.
Nexi taps IBM to upgrade core payments infrastructure
Nexi will utilise the tech giant’s IBM z16 and IBM Storage System offerings.
Tyme Group opts for Mambu’s core banking tech for Philippines’ GoTyme Bank and future banks across Asia
Mambu’s platform enabled a “lift and shift” of Tyme Group’s digital bank concept from South Africa to the Philippines.
ClearBank names new CFO, Mark Fairless
Fairless joins ClearBank from savings and investment firm M&G.
Callsign’s chief commercial and strategy officer Amir Nooriala leaves
Nooriala says he is “taking a step back from day-to-day operational roles in tech start-up land”.
Crypto firm Nexo denies allegations made by Bulgarian prosecutors
Nexo intends to file claims “for all financial and non-pecuniary damages suffered as a result of illegal actions”.
Cognizant names former Infosys president Ravi Kumar as new CEO
Kumar succeeds Brian Humphries, who will remain at the firm until 15 March to facilitate a “smooth transition”.
Temenos in leadership shake-up as CEO and chairman step down
Under the new leadership, Temenos says it will focus on SaaS opportunities, including in the US.
Enfuce and Orka Ventures launch consumer lending product in Europe
Orka Card will enable customers to integrate all their existing bank accounts into one card and app.
Hadhramout Commercial Bank opts for ICS Banks core banking system
Hadhramout Commercial Bank (HCB) is a new universal bank in Yemen.
New consumer lending fintech Salmon launches in the Philippines
Salmon claims to have over 2,000 customers and over 30 merchant partners for its lending product.
Pagaya buys Darwin Homes to capitalise on rental market
Post-acquisition, Pagaya and Darwin’s SFR business now operates in more than 30 markets across the US.
Aussie paytech Till Payments cuts 120 staff
AFR reports the firm has also appointed three new board members and plans to go public.
Israeli trade financing start-up 40Seas raises $111m
40Seas offers financing for SMEs involved in global commerce.
FinTech Futures: Top five stories of the week – 13 January 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Crypto.com to cut 20% of workforce citing “unforeseeable industry events”
CEO Kris Marszalek says several factors have led to the decision to let go of around 800 employees.
American Express buys Israeli B2B payments automation start-up Nipendo
Amex plans to “integrate Nipendo’s team, technology and capabilities” to boost its B2B payments offerings.
ICYMI fintech funding round-up: Butter, Mondu, kompasbank and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
CFPB outlines public registry proposal for nonbank terms and conditions
Firms would need to submit information on terms and conditions that “waive or limit” consumer rights.
FCA fines Al Rayan Bank £4m for inadequate AML controls
Al Rayan did not dispute the FCA’s findings and agreed to settle.
Apex Group snaps up Pacific Fund Systems
PFS is a fund administration software company headquartered in the Isle of Man.
JP Morgan sues Frank founder for allegedly inflating user figures
JP Morgan acquired the student loan application fintech for $175 million in 2021.
Wall Street heavyweights BlackRock and Goldman Sachs cut jobs
The cuts amount to around 6.5% of the total staff headcount at Goldman and less than 3% at BlackRock.
Tide names Meta’s Vinay Ramani as new chief product officer
Ramani says he is joining Tide at a “critical juncture in its plans to globalise”.
Automated intelligence regtech Cube acquires The Hub
Cube’s CEO says the deal marks the first in what is expected to be a series of acquisitions.
Tap Global becomes UK’s first listed crypto exchange services provider
Tap Global raised £3.1 million from listing on the UK-based Aquis Stock Exchange.
PayQuicker appoints Nazuk Jain to lead product development
Jain will build out the firm’s product team and manage its expanding product roadmap.
Healthcare paytech Paytient lands $40.5m Series B
The round consists of $33m in equity and $7.5m in debt from Silicon Valley Bank.
Germany’s Gen Z neobank Ruuky files for insolvency
The neobank has assured customers that all their funds are secured and its app is still “fully accessible”.
UK specialist lender Connect makes new senior hires for “ambitious growth”
Founder and CEO Liz Syms says the new hires will help deliver on Connect’s “ambitious plans”.
Fintus acquires fellow German fintech Finstreet
The acquisition follows an investment from AnaCap Financial Partners into Fintus.
Allied Payment Network appoints Kathi Klawitter as COO
Kathi Klawitter joins Allied Payment Network from banking and payments tech heavyweight Fiserv.
Swiss payment app Twint taps NetGuardians for fraud prevention boost
Software leverages behavioural analytics, machine learning and artificial intelligence to detect anomalous payments.
SME insurtech Superscript lands £45m Series B
The funding will be used to develop Superscript’s underwriting and broking capabilities.
