August 2024: Top five banking tech stories of the month
FinTech Futures takes a look back at five of the top banking tech stories of the month.
News
Shift bags $23m Series D funding led by Peak XV Partners
The funding round follows the completion of a $230 million Asset Backed Securitisation in May.
US fintech PrizePool reportedly winding down consumer app amid acquisition
According to an email to customers shared on Reddit, the start-up is set to close accounts on 23 September.
Shift4 acquires Canadian fintech Givex
The acquisition is anticipated to close in Q4 2024.
Revolut taps Visa Direct for cross-border business payments
Revolut Business customers can now access instant card transfers powered by Visa Direct.
August 2024: Top five new fintech launches of the month
FinTech Futures takes a look back at five of the top new fintech launches in August.
August 2024: Top five fintech funding rounds of the month
FinTech Futures takes a look back at five of the top funding rounds to take place over August.
Indian BNPL firm Axio lands $20m equity investment from Amazon fund
The Bengaluru-based fintech claims to have raised $137 million in equity to date.
Dutch paytech Adyen names Tom Adams as new CTO
Adams takes over from Alexander Matthey, who has served as Adyen CTO since 2021.
Video: Highlights from FinTech Futures’ Banking Tech Insights panel and networking event
Watch our highlights video from the FinTech Futures Banking Tech Insights event on 11 July.
August 2024: Top five fintech partnership stories of the month
FinTech Futures takes a look back at five of the top fintech partnership stories of the month.
What the FinTech? | S.5 Episode 14 | Investment trends and the future of UK fintech
In this podcast episode, we chat with Innovate Finance CEO Janine Hirt about what’s next for UK fintech under Labour.
RBI set to launch United Lending Interface to simplify access to credit for underserved borrowers
RBI governor Shri Shaktikanta Das says the ULI will launch “in due course”.
US identity verification start-up IDPartner Systems to shut down
IDPartner Systems closes after three years in business.
India’s DMI Finance lands a further $334m investment from MUFG
The new capital injection brings MUFG’s total investment in DMI Finance to $565 million.
Arch Lending raises $75m in equity and debt financing to power crypto-backed loans
The raise includes $5 million in equity and a $70 million loan debt financing facility.
Visa reportedly in negotiations to acquire Featurespace in potential £700m deal
Featurespace provides financial crime prevention solutions for AML and fraud detection.
New fintech Barq led by former STC Pay CEO launches in Saudi Arabia
Barq claims to have onboarded over 1 million users just three weeks after its debut.
Florida’s Surety Bank taps Apiture to power online and mobile banking services
Surety Bank will deploy Apiture’s Digital Account Opening, Business Banking, and Consumer Banking solutions.
Cartoon: Sticky situation
This new cartoon illustrates how the fintech market is still struggling after engorging in capital in the early 2020s.
Join us as a judge for the Banking Tech Awards 2024
The Banking Tech Awards 2024 has a limited number of seats on the judging panel available.
US Bank snaps up Salucro Healthcare Solutions for undisclosed sum
US Bank first invested in Salucro back in 2022.
ICYMI fintech funding round-up: Resal, Skyfire, Waza, Revenew and more
Our weekly fintech round-up for you to get the latest funding news from around the world.
Demystify Podcast: Demystifying the home-buying process with Ziad Nassar of Huspy
In this podcast episode, Dave chats with Ziad Nassar of Huspy, a Dubai-based real estate platform.
FinTech Futures: Top five news stories of the week – 23 August 2024
Our pick of the top fintech news stories this week includes HSBC, Klarna, Mastercard and more.
Lettuce Financial bags $15m Series A led by Zeev Ventures
The new funding builds on Lettuce’s $6 million seed round in March, also led by Zeev Ventures.
US fintech start-up Received to close down
“We punched above our weight, and fought a good fight,” writes co-founder and CEO Roi Ben Daniel.
Cardea acquires select assets from NSCG, rebrands as Fourcore Capital
NSCG will also invest up to $25 million in Fourcore’s upcoming capital raise.
Swiss National Bank announces launch of instant payments in Switzerland
The SNB claims around 60 Swiss FIs can now process instant payments.
Klarna to resurrect BNPL fintech Laybuy in New Zealand following acquisition of assets
Laybuy entered into a receivership back in June.
Banking Technology Magazine September 2024 issue out now
Cover story: HOP INTO THE FUTURE – Banks must turn and face the change.
Malta’s Papaya promotes Igor Tsybolyuk to CEO
Tsybolyuk has served as Papaya’s chief operating officer since June 2022.
Advans Pakistan Microfinance Bank in core banking tech overhaul with AutoSoft Dynamics
Advans Pakistan is implementing the AutoBanker core banking system from AutoSoft Dynamics.
Germany’s Upvest embeds Deutsche Bank’s banking infrastructure to expand its product range
Upvest will provide virtual IBANs, cash management, and FX services through Deutsche Bank.
Singapore-based fintech start-up WSPN bags $30m seed funding
Founded by ex-Visa and Paxos employees, WSPN offers digital payment solutions using DLT.
Mastercard set to lay off around 3% of global workforce
A Mastercard spokesperson says the majority of the impacted employees will be notified in Q3 2024.
HSBC reportedly considering sale of its South African business
Bloomberg reports that banks from Africa, China, and the UAE are interested in HSBC South Africa.
ABN Amro goes live with CBA’s IBAS TDD software and nCino’s cloud banking platform
ABN Amro is streamlining its digital lending operations and strengthening its trade finance transaction monitoring.
USAA president and CEO Wayne Peacock to retire in 2025
Peacock joined USAA in 1988 and became its CEO in February 2020.
Singapore’s Valverde taps Broadridge for investment management solution
Valverde will deploy Broadridge’s tech to support its recently launched Valverde ASEAN+ Fund.
