Enigmatic Smile buys Fidel API’s loyalty business
The sale, for an undisclosed sum, includes all assets associated with Fidel’s loyalty business.
News
India’s RBI orders Kotak Mahindra Bank to cease onboarding new customers digitally
The bank will continue to provide services to its existing customers.
Revolut aims to boost global workforce to 11,500 by end of 2024
The UK challenger claims its staff headcount already surpassed 10,000 during the first quarter of the year.
Encompass Corporation promotes VP Stuart Barnard to CFO
Barnard is to take “ultimate responsibility” for the UK regtech’s global finance and business operations.
Canadian SaaS fintech Zafin announces strategic leadership transition
Zafin CEO Al Karim Somji will hand the reins over to former IBM Canada exec Charbel Safadi.
Former Tesla exec Tim Newell to spin off Aspiration’s consumer financial services division
The new standalone company will act as an independent neobank offering environmentally sustainable products.
UK paytech myPOS names Mario Shiliashki as new CEO
Shiliashki has previously held leadership roles at industry giants including PayPal and Mastercard.
BML Istisharat gains new core banking system clients in Saudi Arabia and Lebanon
Bank of Jordan, Corporate Private Investment and MedSecurities Investment implement the ICBS core banking platform.
Indian fintech Aurionpro bolsters AI portfolio with $16.5m takeover of Arya.ai
Arya.ai offers a cloud-based PaaS that enables enterprises to develop their own AI solutions.
OakNorth launches SMB commercial cards with Marqeta platform
The new offering will also include deposit accounts and automation tools for bill payments.
Wealthtech Midas raises $45m Series A to launch new products
The funds will enable Midas to introduce mutual funds, savings accounts and crypto trading.
Temenos concludes CEO search with appointment of Jean-Pierre Brulard
Jean-Pierre Brulard will start his tenure on 1 May 2024, with Andreas Andreades retiring after 25 years.
Axis Bank taps Moneythor for digital engagement solution
The collaboration with Axis Bank represents Moneythor’s first large-scale deployment in India.
UK regtech ComplyAdvantage snaps up Golden to strengthen financial crime intelligence offering
The deal will also see VC firm Andreessen Horowitz become a shareholder in ComplyAdvantage.
Luxembourg’s NowCM names Markus Sauerland as new COO and co-CEO
Industry veteran Sauerland will lead the company alongside its founder Robert Koller.
Jordan Kuwait Bank digitises transaction banking functions with iGTB platform
The bank’s new digital capabilities are being powered by the open finance platform eMACH.ai.
UK property lender Together taps nCino for cloud banking solution
Together claims to have a loan book exceeding £6.8 billion, originating over £200 million in loans monthly.
Payflows emerges from stealth with €25m Series A funding
The Paris-based start-up has been in stealth mode since 2022.
B2B micropayments platform DT One names Claudio Di Zanni as new CEO
Di Zanni’s appointment comes as DT One readies for its “next phase of innovation and growth”.
British Caribbean Bank triggers core banking overhaul with Finastra
The lender has opted to transition its core to the vendor’s Fusion Essence solution.
US fintech start-up Pomelo bags $35m Series A funding
The start-up secured a $75m warehouse facility expansion alongside the round.
Thunes to boost US footprint with acquisition of Tilia
Tilia is to rebrand as Thunes and maintain operations from San Francisco.
Goldman Sachs sells Marcus Invest’s digital investing accounts to Betterment
The deal includes Marcus Invest’s accounts and assets under management.
JTC to acquire First Republic Trust Company of Delaware from JP Morgan for $21m
JP Morgan has controlled the unit since its takeover of First Republic Bank last May.
Bird taps Airwallex to power international payments operations
Airwallex’s tech will power Bird’s in-house foreign exchange engine and issuing solution.
Central Bank of Mauritania partners Giesecke+Devrient for CBDC exploration
G+D will supply the technical support for the initial testing of specific CBDC use cases.
Monese to split business in two amid mounting financial woes
The UK-based fintech has enlisted Interpath Advisory to assist in the internal restructuring.
Nium names Alexandra Johnson as first chief payments officer
The former Bank of America exec is to lead Nium’s strategy in the newly-created role.
The essential buyer’s guide for risk orchestration software
Crucial insights for fintechs seeking risk orchestration platform vendors to streamline their customer lifecycle and regulatory screening.
Allica Bank reports first full year of profitability after revenues double
Allica says it has experienced a 75% increase in customer deposits to £2.6 billion.
Old Mutual granted approval to establish bank in South Africa
Old Mutual intends to integrate the bank into South Africa’s National Payments System following a testing period.
TabaPay to acquire assets of struggling BaaS fintech Synapse
Synapse previously filed for Chapter 11 voluntary bankruptcy and laid off over 50% of its workforce last year.
Karma Wallet acquires sustainability marketplace DoneGood ahead of card and membership programme launch
The sustainability spending fintech is to integrate the DoneGood marketplace into its company ratings platform.
Fortis Digital Solutions lands $20m Series A for push into MENA
The investment will be used to fuel Fortis’ planned expansion into the MENA region.
Kinsted Wealth deploys Objectway for discretionary portfolio management
President and CCO Adam Payne says the deal comes amid a need to “focus on our core business”.
The Reserve Bank of New Zealand calls for views on potential CBDC
The consultation period is due to commence on 17 April and will run until 26 July 2024.
Luxury investments platform Konvi acquires competitors Diversified and Fractible
All investments in Diversified and Fractible will be transferred to Konvi this month.
Cartoon: Spring fever
The market appears to be investing in anything that moves with the letters “AI” in it.
FinTech Futures Banking Tech Insights: 11 July, London
Join us in London on 11 July 2024 for an exclusive half-day networking and panel event.
ICYMI fintech funding round-up: Toku, Tabs, Kamina, Lemon and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
