Burgan Bank in core banking software modernisation with TCS Bancs
Kuwait-based Burgan Bank will replace its legacy tech with the TCS Bancs integrated core banking system.
News
FinTech Founders Video: taking a start-up idea from inception to reality
Four founders explain how they made their fintech start-up ideas a reality.
First Abu Dhabi Bank reportedly in discussions to acquire Yapi Kredi from Turkey’s Koc Group
Koc Group has held a stake in the Istanbul-based full-service bank since 2005.
Migrant banking platform Majority lands $20m in “push towards profitability”
In addition to the funding, the platform has also announced Abhi Pabba as its new chief risk officer.
Open finance fintech Fabrick to acquire finAPI from Germany’s Schufa
Fabrick is to leverage its latest purchase to expand its presence into the DACH region.
Payments fintech Vitesse raises $93m Series C funding to fuel US expansion efforts
Vitesse has also appointed former 10x Banking chief Curt Hess as its new US executive president.
Mercado Pago enters talks with regulators for banking licence in Mexico
Mercado Pago GM Pedro Rivas says the firm’s ambition is to become “the largest 100% digital bank in Mexico”.
Citi fined £61.6m by UK regulators for “failures in its trading systems and controls”
The total penalty consists of a £33,880,000 fine from the PRA and a £27,766,200 fine from the FCA.
EFG Hermes snaps up minority stake in AI digital wealth manager Kenzi Wealth
EFG Hermes has also signed an MoU with Kenzi to enhance its EFG Hermes One trading platform.
Demystify Podcast: The growth of fintech in the UAE – Dubai Fintech Summit special
Dave and Dharm speak with four financial services leaders at this year’s Dubai Fintech Summit.
UK’s PSR says Visa and Mastercard face “no effective competition” for core scheme and processing services
The findings are from the regulator’s newly published interim report on scheme and processing fees for cards.
Alpian’s $83m Series C round sees Intesa Sanpaolo’s Fideuram become majority shareholder
Fideuram first made a $20 million investment in Alpian back in 2022.
Cartoon: Working at the edge
Can nature be a guide on how to improve intelligence at the edge of computing networks?
US CFPB sues SoLo Funds for allegedly “deceiving borrowers about the total cost of loans”
The regulator says it is suing the firm for “deceiving borrowers and illegally extracting fees”.
Cooperative Bank of Oromia in Ethiopia partners Mastercard for prepaid cards and Community Pass
The bank’s CEO says the partnership will deliver “secure and adaptable financial tools” to consumers.
UK challenger Chetwood Financial acquires lender CHL Mortgages for Intermediaries
Chetwood states that the purchase will complement its forthcoming ModaMortgages proposition.
JP Morgan Chase commits additional £40m to boost economic growth in the UK
The investment aims to “help connect young people and underserved communities to economic opportunities”.
UK challenger GB Bank lands £85m investment
The bank projects that the new investment will allow it to increase its lending to £500m over the next year.
Bank Muamalat signs long-term partnership with Backbase for Engagement Banking platform
The Malaysian bank plans to launch a digital Islamic banking super-app “by the end of the year”.
BNP Paribas set to buy French life insurance business Neuflize Vie from ABN Amro and AXA
Neuflize Vie was founded in 1990 as part of a joint venture between AXA and ABN Amro.
Real estate investment management start-up Agora lands $34m Series B
Agora will use the funding to “accelerate its expansion efforts” and further develop its product offerings.
Santander and Iberpay in Spain join EPC’s OCT Inst scheme as inaugural participants
Iberpay will serve as the clearing and settlement mechanism, through Santander, for OCT Inst transactions.
Financial admin platform Osome secures $17m in mix of debt and equity funding
The Singapore-based start-up plans to utilise AI to further develop its product offerings.
Visa seeks to “revolutionise the card” with array of new product launches
New products include a Passkey service, Visa data tokens and the Visa Flexible Credential for payments.
Saudi Arabian paytech Geidea names Abdulrahman Almutairi as new group CTO
Almutairi previously served as CTO at STC Pay for nearly five years.
Apex Group names Ken Fullerton as new global head of operational transformation
Fullerton will also manage the firm’s global service centres.
eBook: Future-proof your fintech – strategies to succeed in 2024 (and beyond)
Download this free e-book to unlock fintech success: optimize CX, boost retention, and drive profit with innovative strategies.
Cache Valley Bank in front-to-back office tech revamp with Finastra
Cache Valley Bank also plans to migrate all on-premises software to the cloud over time.
Paytech start-up Aeropay raises $20m Series B for platform and partnership development
The US-based start-up has also introduced its new “homegrown bank aggregator” called Aerosync.
ICYMI fintech funding round-up: Ekko, Layer, MNZL, Panax and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
HSBC UK partners accounting software provider Ember for My Business Finances tool
The tool aims to help small businesses comply with the UK’s upcoming Making Tax Digital initiative.
FinTech Futures: Top five news stories of the week – 17 May 2024
Our pick of the top fintech news stories this week includes BBVA, Deutsche Bank, Lemonway and more.
US fintech Yendo secures $165m in mix of debt financing and equity
The funding consists of $150 million in debt financing and $15 million in equity.
French fintech Lydia launches digital banking app Sumeria
Lydia says it plans to pump over €100 million into Sumeria over the next three years.
AI-powered regtech Cube acquires global regulatory intelligence enterprises from Thomson Reuters
Through this acquisition, Cube aims to “set a new bar for the industry in regulatory automation”.
Commerce Bank goes live with instant payment service FedNow through Temenos Payments Hub
The bank has also tapped Temenos’ US Model Bank to “meet the unique business needs of the US market”.
FinTech Founders Video: essential traits for a successful founding team
Four fintech founders discuss the essential traits that can help founding teams fly.
Vietnam’s PVcomBank launches mobile banking app powered by Temenos Digital on AWS
PVcomBank has been running on Temenos Core for retail and corporate banking for over 10 years.
Standard Chartered pilots carbon credit tokenisation in Hong Kong with Mastercard, Mox Bank and Libeara
The pilot was conducted through the fintech supervisory sandbox hosted by the Hong Kong Monetary Authority.
UK challenger Tandem appoints Suavek Zajac as new CTO
Zajac’s most recent positions include serving as CTO at Blackberry and the UK-based fintech Railsr.
