Coop set to discontinue Finance+ project, says “demand did not meet expectations”
Coop cites increased competition in the financial sector as one of the reasons behind the decision.
News
Future FinTech Group promotes Hu Li to CEO
Li has served as CEO of FTFT International since January this year.
What the FinTech? | S.5 Episode 13 | Fintech start-ups and navigating the road to sustainable growth
In this podcast episode, we chat with Sam Edge of AWS about the current fintech start-up landscape.
French paytech Lemonway has “certain limitations” placed on its operations in Italy by Banca d’Italia
Lemonway says the Italian central bank has told it to “not engage new Italian partners”.
Triodos Bank UK appoints Mark Clayton as new chief operating officer
Clayton previously spent 23 years at HSBC and was most recently COO at Unity Trust Bank.
Pennsylvania’s Customers Bancorp hit with enforcement action by US Federal Reserve
The enforcement action follows a recent inspection and does not include a fine.
LendingPoint hires ex-Mr Cooper exec Shawn Stone as CEO
Stone is also set to join the LendingPoint board of directors.
AccessPay gains two new senior directors with product and partnership focus
Graham Morgan transitions to product director, while Jim Conning becomes director of banking and alliances.
Credit Union of America boosts ATM network with NCR Atleos partnership
CUA now boasts an ATM network of over 85,000 locations across the US.
ICYMI fintech funding round-up: Layer2, Qardy, United Fintech, Minos, and more
Our weekly fintech round-up for you to get the latest funding news from around the world.
FinTech Futures: Top five news stories of the week – 9 August 2024
Our pick of the top fintech news stories this week includes NCR Voyix, CIBC, Société Générale and more.
Video: Harnessing AI in financial services with IBM
IBM’s Shanker Ramamurthy and John Duigenan discuss how to overcome the hurdles around AI adoption.
ClearBank secures new Credit Institution Licence from the ECB to expand into Europe
The licence was secured by ClearBank Europe N.V., ClearBank’s newly established European entity.
Unit secures new embedded finance partnerships with Vantage Bank and Lincoln Savings Bank
The two new deals come just months after Unit revealed it was cutting 15% of its workforce.
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.
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.
