Virgin Money to enter BNPL market this year with Slyce credit card product
Slyce has been created in partnership with Mastercard and TSYS.
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Green fintech start-up Tred launches new carbon-tracking banking app
At the end of each month, Tred users are nudged to offset any carbon their spending has emitted.
New bank for public sector workers set to launch next year in the UK
The aspiring bank aims to submit its banking authorisation application by the end of this year.
Portugal’s Universo taps Mambu to expand digital financial services offering
The partnership will allow Universo to provide a “personalised end-to-end financial experience”, Mambu says.
Santander CIB teams up with SAP to digitise global transaction banking services
The two firms will collaborate to develop “invisible banking” solutions that improve client-to-bank connectivity.
Social investing start-up Shares bags $40m in Series B funding round
The new funds will be used for product development and to fuel its global expansion plans.
UK fintech investment defies global downturn with 24% growth
UK-based fintech firms received $9.1 billion in investment spread across 294 deals in H1 2022.
B2B e-commerce paytech Balance raises $56m in Series B round
The fresh capital takes the company’s total funding to $87 million.
Indian crypto exchange CoinDCX appoints Gaurav Arora as senior VP
In his new role, Arora will lead product, business and growth for the firm’s DeFi initiatives.
Lebanese fintech Purpl partners Mambu to scale operations
Mambu’s cloud platform will power Purpl’s remittance and digital wallet solution.
Apple sued over alleged “anti-competitive” Apple Pay practices
The lawsuit alleges Apple “coerces” consumers who use its devices into using Apple Pay for contactless payments.
Al Sanam Islamic Bank selects ICS Banks core banking system
Al Sanam Islamic Bank is a newly-established Islamic bank in Iraq.
Bank Islam Malaysia Berhad launches new banking app, Be U
The fully cloud-native digital banking app aims to broaden financial inclusion in Malaysia.
UnitPlus partners Vodeno and Aion for ‘pay-with-portfolio’ ETF solution
Customers can pay with funds drawn directly from their portfolio using the UnitPlus debit card.
Brazilian fintech Neon raises $80m to support credit portfolio expansion
The funding will allow the firm to expand its portfolio of credit products “in a sustainable and balanced way”.
ING to wind-up retail banking operations in the Philippines by end of year
The firm will leave the retail banking market in the country before the end of 2022.
French business banking firm Qonto snaps up German fintech Penta
The acquisition is expected to close in the next few weeks.
Rabobank selects US fintech InvestCloud for financial planning tools
Goal-based financial planning features will be made available to Rabobank’s customers.
OneConnect partners Pismo for unified digital banking solution, OneCosmo
Pismo and OneConnect entered into a strategic partnership in April this year.
Curve appoints new CPO Eyal Galina to build out product offering
Galina will be responsible for Curve’s product roadmap and strategy as it looks to boost its presence in the US.
Tax automation platform Fonoa raises $60m Series B
Cash will go towards doubling the company’s headcount and expanding into new markets.
Cartoon: Rodeo
A new cartoon by Ian Foley illustrating why fintechs should view risk management as a core competency.
Arvest Bank teams up with Google Cloud to boost digital transformation
Arvest says it plans on overhauling its current IT systems, including migrating its data centres to Google Cloud.
FinTech Futures: Top five stories of the week – 22 July 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Scottish Building Society taps AML firm Jade ThirdEye to upgrade security
Jade ThirdEye will upgrade the firm’s existing transaction monitoring solution.
FX firm Monex Europe hires former Mastercard exec as new CTO
John Gallagher joins as one of three new leadership hires at the firm.
Philippines’ Atram taps additiv for digital wealth management tech
Atram’s new digital wealth management platform will utilise additiv’s orchestration engine, DFS.
Pennyworth partners Moneyhub for financial planning tool
The offering is targeted towards those with salaries between £40,000 and £150,000.
TomoCredit bags $122m funding to expand product offerings
Investors include Morgan Stanley’s Next Level Fund and Mastercard.
Digital challenger Varo Bank lays off 75 employees in effort to cut costs
CEO Colin Walsh says the firm is “not immune to the impacts of our current environment”.
ICYMI fintech funding round-up: TurnKey Lender, FairPlay, Bloom & more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
US regulators fine Bank of America $225m for “botched disbursement” of unemployment benefits
The CFPB has fined the bank $100 million, while the OCC has separately issued a $125 million fine.
Heritage Bank appoints Mikhail Lopushanski as CISO
Lopushanski will work to strengthen the bank’s IT, digital and data security defences.
BNP Paribas partners fintechs to develop digital asset custody offering
The new combined solution will allow clients to issue, transfer and securely keep regulated digital assets.
The Reserve Bank of India wants to ban crypto, says India’s finance minister
The RBI believes cryptocurrencies have a “destabilising” effect on a country’s monetary and fiscal stability.
Credit union tech provider Mahalo Banking raises $20m
Mahalo Banking provides online and mobile banking solutions for credit unions.
SunTec hires ex-IBM exec as new chief strategy and transformation officer
Pramod Perumparambil will drive the company’s strategy to accelerate business growth.
Al Rajhi Bank Malaysia taps Feedzai for risk management platform
Feedzai’s RiskOps platform will help strengthen the security of ARBM’s upcoming digital bank offering.
Aussie paytech mx51 raises $22m Series B
The Series B round was led by an undisclosed “global fintech investor”.
Wealthtech FNZ snaps up private banking tech provider New Access
New Access is primarily active in Switzerland, Liechtenstein and Luxembourg.
