CloudPay secures $120m funding round led by Blue Owl Capital
The paytech’s latest funding round adds to the $50 million it raised in 2022.
News
National Bank of Fujairah digitises corporate banking operations with iGTB’s eMACH.ai
iGTB claims the deal marks the first deployment of the cloud-managed service in the region.
Estonia’s Montonio triggers leadership change with Johan Nord rising to CEO
Nord takes the reins from Markus Lember, who will now become chief strategy officer.
Global Payments names Robert Cortopassi as new president and chief operating officer
Cortopassi previously served as Global Payments’ senior EVP and president of international and vertical markets.
NerdWallet to cut workforce by 15% as part of restructuring plan to reduce operating expenses
The job cuts are expected to produce around $30 million in annualised cost savings.
Flywire acquires Invoiced to enhance B2B payments and software capabilities
Invoiced’s SaaS platform enables B2B finance teams to automate AR processes.
Payoneer acquires payroll start-up Skuad in Singapore for $61m
Payoneer CEO John Caplan says the deal will “accelerate our evolution and B2B momentum”.
Mondu lands new EMI licence to fuel European expansion
Mondu’s co-CEO says it is the first B2B BNPL firm in Europe to be granted its own EMI licence.
Sendsprint acquires Nobel Financial to expand remittance services in the US
Scott McClain, Nobel Financial’s chief compliance officer, will also join Sendsprint in the same role.
Video: Optimising cash deposits with Insignis Cash CCO Kate Eadie
Insignis Cash’s Kate Eadie chats with FinTech Futures about democratising the cash savings market.
JP Morgan Payments expands in-store biometric payments throughout US with PopID
The solution first made its market debut last year.
Atomic to power direct deposit switching for Texans Credit Union through Alkami partnership
Atomic’s solution is available through Alkami’s digital banking platform.
CIBC plans to hire for 200 new data and AI roles over the next 12 months
The new hires will be tasked with advancing “resilient and trustworthy AI solutions” across the bank.
US fintech Octane raises $50m Series E funding led by Valar Ventures
The funds will drive Octane’s market expansion and fuel further product development.
Pagaya set to acquire Silicon Valley’s Theorem Technology for an undisclosed sum
Theorem is an institutional asset manager powered by machine learning technology.
UBP snaps up Société Générale’s UK and Swiss private banking subsidiaries in €900m deal
UBP claims the deal will boost its AUM by €26 billion to €186 billion.
Mexico’s Stori lands $212m in mix of equity and debt financing
In addition, Stori has appointed Diego Cabrera Canay, ex-CFO of dLocal, as its new group CFO.
Varo Bank inks five-year issuer processing deal with Marqeta
The deal will enable Varo cardholders to add tokenised cards to their digital wallets.
Sweden’s Fingerprints hires David Eastaugh as new chief strategy and technology officer
Eastaugh previously served as the CTO of UK regtech TruNarrative for over six years.
NCR Voyix agrees to sell digital banking unit to Veritas Capital for $2.45bn
NCR Voyix says its digital banking business currently supports “1,300 top-tier financial institutions”.
HD Bank launches Vikki Digital Bank in Vietnam powered by Thought Machine’s Vault Core
The new digital-only bank is the result of a joint venture between HD Bank and Galaxy FinX.
Kuwait’s Boubyan Bank taps Temenos to modernise its core banking systems
The bank is migrating to Temenos’ core banking platform for corporate banking, retail, and wealth management.
Houlihan Lokey names Andrew Atherton as new fintech managing director
Atherton previously worked for over eight years at Union Square Advisors.
Savvy Wealth bags $15.5m in Series A-2 funding round led by Canvas Ventures
The latest cash injection brings Savvy’s total funding to over $33 million since its formation in 2021.
White paper: Beyond the basics – exploring trends shaping AML compliance in 2024
What controls UK businesses should put in place to effectively prevent money laundering and other financial crime.
Nuvei set to obtain licence in Brazil with proposed acquisition of Pay2All
The proposed acquisition will enable Nuvei to operate in Brazil as an electronic currency issuer.
Vantage West Credit Union introduces HUSTL, a new digital banking start-up for freelancers
HUSTL offers high-yield savings, interest-earning checking accounts, and certificates of deposit.
SME-focused neobank Ampere launches card-to-card payments in partnership with Mastercard
The offering facilitates conversions in over 60 different currencies.
Lloyds Banking Group names Rohit Dhawan as new group director of AI and advanced analytics
In this newly created position, Dhawan will oversee Lloyds’ AI Centre of Excellence.
Native American-focused neobank Totem set to close down
The neobank claims to have accumulated over 500 customers since launching its app in 2023.
Bilt Rewards elevates valuation to $3.25bn with new $150m investment
This raise follows Bilt’s $200 million funding in January, which valued the company at $3.1 billion.
Shawbrook taps nCino for automated SME loan origination
The bank is also adopting nCino’s nIQ solution for AI and machine learning tools.
Bain Capital completes deals to acquire Finova and Iress’ UK mortgages business
Under BCTO’s ownership, the two entities will merge to become a single combined business.
Missouri Central Credit Union taps Bankjoy for account opening and digital banking upgrade
Missouri Central Credit Union currently manages approximately $78 million in assets.
Philippines-based fintech Mynt sees valuation top $5bn with MUFG and Ayala funding
Both MUFG and Ayala Corporation have invested $393 million each in the company.
ICYMI fintech funding round-up: Rillet, Aveni, Mamo, Payflow, and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
BNP Paribas enters exclusive talks to buy AXA Investment Managers for €5.4bn
AXA says the proposed deal will “create a leading European asset manager” with total AUM of €1.5 trillion.
FinTech Futures: Top five news stories of the week – 2 August 2024
Our pick of the top fintech news stories this week includes Renasant Corporation, Stripe, ING and more.
Demystify Podcast: Demystifying Careem’s everything app with Abhishek Tripathi of Careem Pay
In this podcast episode, Dave and Dharm chat with Abhishek Tripathi, Head of Product at Careem Pay.
Bitpanda selects Solaris KYC solution for onboarding in Germany
Bankident will “enable our customers to start trading within minutes”, says Bitpanda’s Maik Brodowski.
