HSBC concludes search for new Group CEO with Georges Elhedery appointment
The appointment follows Noel Quinn’s announcement in April that he was stepping down after five years as CEO.
News
Thunes hires former Worldpay exec Sigrid Hulsebosch as new CFO
Hulsebosch will take charge of Thunes’ financial strategies and global finance function.
India’s Auxilo Finserve raises $33m to further support student community
LeapFrog Investments has invested $30 million in Auxilo’s latest round.
Digital challenger Inter promotes SVP Alexandre Riccio to Brazil CEO
Riccio has been tasked with overseeing “an even more intense drive to deliver results”.
Sequoia Capital reportedly offers Stripe investors share deal as fintech valuation tops $70bn
The firm is said to have made the offer through an email sent to LPs this week.
Jordan Kuwait Bank partners Mastercard and FOO to launch multicurrency prepaid wallet offering
EliWallet will enable customers in Jordan to “transfer money swiftly across borders”, JKB says.
Bux sells UK subsidiary Bux Financial Services Limited to UAE’s Asseta Holding
The company says the sale of BFS is a “subsequent step in the divestment strategy of Bux Holding”.
Starling Bank founder Anne Boden reportedly steps down from board to focus on new AI venture
Boden had been a non-executive director on the bank’s board since stepping down as CEO last year.
Mexican fintech start-up OCN lands $86m Series A funding round to drive international expansion
OCN provides gig workers in Latin America and the US access to capital for car rentals.
FCA announces “biggest changes” to the UK’s listing regime “in over three decades”
The new rules aim to “support a wider range of companies to issue their shares on a UK exchange”.
BNP Paribas partners Ant International to enhance cross-border payment solutions in Europe
The pair will also work to “explore innovations in tokenised deposits for global treasury management”.
Argentinian fintech start-up Tapi bags $22m Series A led by Kaszek
The funding round also saw participation from Californian VC Andreessen Horowitz.
US regulators fine Citigroup $136m for “insufficient progress” towards compliance with 2020 consent order
The OCC and the Federal Reserve Board have fined Citigroup $75 million and $60.6 million, respectively.
Blockchain-powered clearing and settlement fintech Partior raises more than $60m in Series B funding
Partior was founded as a joint venture between JP Morgan, DBS Bank and Temasek in 2021.
TBC Bank Uzbekistan lands $38.2m equity investment
TBC UZ claims to be the country’s largest mobile-only bank, boasting a 15 million-strong user base.
Diamond Credit Union partners Tyfone for nFinia digital banking platform
Diamond was a longstanding client of Cubus Solutions, which Tyfone acquired in 2023.
Cartoon: Relief
The survivors from the ‘mass start-up extinction’ event might still not be ready to invest for growth.
Banking Technology Magazine July / August 2024 issue out now
Cover story: MONEY TALKS – Cash still playing an important role in society.
ICYMI fintech funding round-up: Lemon.markets, Trustap, Adfin, Accend and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Intuit to cut 10% of workforce amid plans to boost investment in “key growth areas” such as AI
Intuit plans to hire 1,800 new workers to support the firm’s aim to capitalise on the “AI revolution”.
FinTech Futures: Top five news stories of the week – 12 July 2024
Our pick of the top fintech news stories this week includes Envestnet, Dosh, Innovate Finance and more.
Bain Capital to acquire US fintech Envestnet in $4.5bn deal
Reverence Capital is also participating in the transaction, alongside a consortium of additional investors.
BNP Paribas inks multi-year deal to implement Mistral AI commercial models across all business lines
The bank will gain access to “current and future Mistral AI commercial models”.
Skipify names former Airbnb Payments chief Sam Shrauger as new COO
Shrauger previously served as CEO and chairman of Airbnb’s US payments arm for over four years.
Malaysia’s Affin Bank partners ACI Worldwide for business payments platform
The bank is leveraging the ACI payments platform to realise a “75% efficiency boost”.
Challenger bank Griffin certified as B Corporation following “rigorous verification process”
The challenger had its governance, worker, customer, environment and community standards verified by accreditor B Lab.
Nala bags $40m Series A to scale remittance services
Part of the funds have been earmarked to build Nala’s B2B payments platform, Rafiki.
America First Credit Union taps Loquat for small business onboarding solution
The credit union will apply Loquat for digital account opening, payments, reporting and virtual cards.
Supply chain fintech TASConnect snaps up Solv Malaysia and Solv Vietnam
The acquisition of Solv Malaysia has been completed, while the Solv Vietnam purchase remains ongoing.
Global fintech investment fell by 19% in H1 2024, according to new Innovate Finance report
Total investment in fintechs worldwide amounted to $15.9bn in H1 2024, compared to $19.5bn in H2 2023.
Daiwa Capital Markets Europe selects Delta Capita for CLM solution
Delta Capita previously purchased LSEG’s CLM compliance solution, Client On-Boarding, in April.
Dosh seeks licence to become a bank in New Zealand
Dosh is aiming to become New Zealand’s “first locally-owned, digital-only bank”.
Clear Street names former CBOE chief Edward Tilly as new president
Tilly previously served as CEO and chairman of CBOE Capital Markets for over 10 years.
Canoe Intelligence bags $36m Series C led by Goldman Sachs
The latest funding adds to the firm’s $25 million Series B round in 2023.
Avidia Bank to adopt Personetics’ AI-powered engagement engine through new Q2 Digital Banking Platform
The bank will integrate Personetics’ AI engagement engine into the Q2 platform.
Outpayce selects Mambu to power new multi-currency digital wallet service
The Mambu implementation is underway, with plans to go live “in the coming months”.
What the FinTech? | S.5 Episode 11 | Banking Tech Awards 25th anniversary special with Monument
In this podcast episode, we chat with Sudip Dasgupta, CTO at Monument Bank and Banking Tech Awards judge.
Azqore selects Volante Technologies’ PaaS tech for SEPA instant payments
Azqore previously selected Volante to accelerate its ISO 20022 adoption programme in 2022.
UAE’s Mashreq Bank appoints Tushar Vikram as new India head
Vikram previously served as Citibank India’s head of commercial banking for over nine years.
Bain Capital reportedly closing in on deal to acquire Envestnet
The potential deal could be announced as early as this week, according to a report by Reuters.
