EQT to sell data management tech firm Rimes to Five Arrows
The parties say they expect the transaction to close “in the coming months”.
News
FinTech Futures: Top five news stories of the week – 12 April 2024
Our pick of the top fintech news stories this week includes Linqto, HSBC, Santander and more.
Salt Bank makes digital debut in Romania powered by Starling Bank’s BaaS
The challenger has leveraged Starling’s BaaS platform Engine to power the launch of its digital offering.
Video: Chipper Cash at FinovateEurope 2024 – How Africa’s growing middle market is finding power in payments
We chat with Brett Magrath of Chipper Cash about how new paytech solutions are boosting Africa’s middle market.
FloQast lands $100m Series E funding at $1.6bn valuation
FloQast claims its flagship offering, the Accounting Operations platform, serves over 2,600 accounting teams worldwide.
Alisa Bank snaps up invoice financing fintech Puro Finance to bolster SME services
Puro Finance is expected to operate as a subsidiary of the bank upon closure of the deal in May.
Spendesk combines procurement with spend management through Okko acquisition
Spendesk claims it is the first solution in Europe to combine both spend management and procurement.
Mastercard to realign organisational structure with three new divisions
Mastercard’s three new units are Core Payments, Commercial and New Payment Flows, and Services.
M&S and HSBC UK agree new seven-year partnership to enhance credit and payments offering
The partnership will be focused on “bringing together digital payments and loyalty for M&S customers”.
Linqto to go public via $700m SPAC merger with BCSA
The deal is set to close in H2 2024, with Linqto to operate as a wholly-owned subsidiary of BCSA.
Video: Symend at Fintech Meetup 2024 – Putting an end to “zombie engagement”
Symend’s Hanif Joshaghani discusses how firms can enhance their digital communication with customers.
Google Cloud to develop quantitative research and genAI capabilities for three new industry takers
The deals were revealed during the Google Cloud Next event in Las Vegas this week.
Empower Finance strikes deal to buy Petal with Cashalo acquisition completed
The deal for Petal is expected to close later this quarter for an undisclosed sum.
Nuvei lands Singapore MPI licence for APAC expansion
The licencing follows the paytech’s $6.3 billion acquisition by Advent International.
Santander to launch Openbank in the US this year
Openbank is currently live in Spain, Germany, the Netherlands, Portugal and Argentina.
Arizona Financial Credit Union taps NCR Atleos for ATM management
The Phoenix-headquartered credit union has opted for NCR Atleos’ ATMaaS solution.
US start-up Parafin lands $125m warehouse facility from SVB and Trinity Capital
Parafin previously raised $60 million in a Series B funding round led by Singapore’s GIC in 2022.
Video: How SOLO is scaling trust by replacing self-reporting
We chat with Georgina Merhom of SOLO to find out how the start-up commoditises first-party data.
UK fintech Gresham Technologies to be acquired by STG Partners for £147m
The acquisition is expected to close by the third quarter of 2024.
Demystify Podcast: Breaking the mould in banking technology with SaaScada
In this podcast episode, Dharmesh and Dave explore the evolving core banking market with SaaScada.
Revolut to launch operations in Mexico with new banking licence
The UK-based challenger will make its Mexican debut with money transfer services.
Kneip names ABN Amro Investment Solutions exec Elisa Alonso Sanz as new CEO
Sanz will succeed Enrique Sacau, who has served in the position since 2020.
UK’s FullCircl names Georgio Anastasi as new CFO
The CLI platform has gained a new CFO, COO, CRO and VP of product in two months.
UBS and SuMi Trust joint venture to acquire Credit Suisse wealth management business in Japan
The JV will absorb Credit Suisse’s Japanese advisor base and wealth management assets.
Busey Bank launches commercial credit cards with Corserv
The bank is delivering the cards using Corserv’s account issuer programme.
ECB names participants for new trials to explore settlement of wholesale transactions in central bank money
The testing will begin on 13 May this year, with the aim to explore several potential use cases.
Nubank partners Wise Platform to power new Global Account offering
The bank says its latest offering will be launched fully “in the coming weeks”.
HSBC to sell Argentinian banking arm to Grupo Financiero Galicia for $550m
The deal is expected to be finalised within the next 12 months.
Tradeweb to acquire wealthtech ICD in $785m deal
The all-cash deal is expected to close in the second half of 2024.
UK paytech TerraPay handed MPI licence by MAS in fresh push for APAC expansion
TerraPay says it will leverage the licence to “strengthen existing and new partnerships” in the APAC region.
French fintech Linedata acquires AI software developer DreamQuark
Linedata says the purchase will extend its reach to the “critical sectors” of asset management, insurance and credit.
B2B BNPL fintech Hokodo lands €100m debt facility from Viola Credit
Hokodo says the financing will enable it to facilitate over €1.5 billion in B2B transactions over the next two years.
UAE’s GTN names former Saxo Bank exec Damian Bunce as new Middle East CEO
Bunce brings more than 30 years of experience in forex and online securities trading to his new role.
BankPro taps Arroweye to launch dual interface debit cards in the Caribbean
US-based Arroweye will support BankPro’s card programme with its on-demand production model.
CFPB publishes new report highlighting risks related to financial transactions in video games
Americans spent nearly $57bn on gaming hardware, software, and in-game transactions in 2023.
Worldline and Crédit Agricole unveil new merchant payments joint venture CAWL
The joint venture will offer payment acceptance and payment acquisition solutions for merchants in France.
Hybrid digital challenger Ruya Bank readies for debut in UAE
The challenger’s offering combines both digital Islamic banking services and physical community centres.
Fintech funding shows signs of stalling in latest CB Insights report
The $7.3 billion raised this quarter marks the lowest figure recorded since the pandemic began in 2020.
CAB Payments to expand into the EEA after securing European PSP licence
CAB Payments Europe has been granted a PSP licence from De Nederlandsche Bank (DNB).
Video: Matera at Fintech Meetup 2024 – Core banking modernisation and instant payments
Matera’s Brad Goad discusses how banks need to modernise their core tech to keep up with instant payment innovations.
