Chase plans to open more than 500 new branches and hire 3,500 staff by 2027
The bank also plans to renovate more than 1,700 existing locations across the US.
News
Oregon State Credit Union partners Bankjoy for account opening and loan solutions
The credit union has signed for the vendor’s online account opening and online loan application product suite.
Revolut’s head of financial crime and fraud Aaron Elliott-Gross leaves to join Wise as product compliance lead
Elliott-Gross has been appointed as Wise’s global director of product compliance this month.
Entrust in exclusive talks to acquire ID verification solutions provider Onfido
Reuters reports that the deal could potentially value Onfido at around $650 million.
Duco acquires intelligent document processing start-up Metamaze
Metamaze’s AI-powered tech is capable of automating data extraction from a range of document types.
RBC’s US subsidiary City National Bank hit with $65m fine from OCC
The OCC says the fine relates to “systemic deficiencies” in the bank’s risk management and internal controls.
ID Finance lands $150m debt financing headed by i80 Group
ID Finance claims the financing marks its “largest ever financing round” to date.
OBL director Alan Ainsworth departs after six-year tenure
Despite his successful endeavours, Ainsworth writes that “it’s now time for something else”.
Société Générale to cut 900 positions at Paris headquarters in elimination of “hierarchical layers”
The French banking group says it will action the cuts “without forced departures”.
Westpac taps Dancerace to upgrade its invoice finance operations
Dancerace says its tech will make it easier for Aussie businesses with unpaid invoices “to receive their cash faster”.
Core banking tech challenger Tuum secures €25m Series B to tap new territories
The vendor plans to further establish its market presence in Germany, Austria and Switzerland.
Unity Trust Bank appoints Colin Fyfe as new CEO
Fyfe joins UTB from Hinckley & Rugby Building Society, where he was CEO for over five years.
India’s UPI launches in France through collaboration with Lyra Network
The move is a continuation of Indian PM Narendra Modi’s vision of “taking UPI global”.
Exclusive: Old Mutual signs for 10x Banking core, igniting vendor’s African expansion
Old Mutual will leverage 10x’s core banking tech to “serve those who have bank accounts but are severely underserved”.
Commercial Bank of Kuwait to upgrade its payment systems with new Network International partnership
CBK projects that the collaboration will “significantly enhance” its payment operations and continued shift to digital.
India’s Tata Consultancy Services reportedly in the race to run UK’s Faster Payments service
The potential move would see TCS replace Mastercard’s Vocalink as the service’s technology partner.
Vast Bank exits cryptocurrency market, closes crypto banking mobile app
The bank disabled and removed the Vast Crypto Mobile Banking app from app stores on 31 January.
India’s RBI orders Paytm Payments Bank to halt banking services by end of February
The RBI attributes its order to “persistent non-compliances and continued material supervisory concerns in the bank”.
Raymond James Bank to deploy ICE Mortgage Technology’s lending solution Encompass
The software will support the origination of mortgages for high-net-worth borrowers.
Deutsche Bank to cut 3,500 roles over two years amid €2.5bn savings drive
The German investment bank says the cuts will mainly apply to “non-client-facing areas”.
Demystify Podcast: Embracing fintech and the green agenda with vice minister of finance, Lithuania
Lithuania’s ambitious journey in fintech and sustainability with vice minister of finance, Vaida Česnulevičiūtė Markevičienė.
Emirates NBD partners Silent Eight to bolster compliance operations
The banking group says the partnership will enhance its compliance efficiency.
B2B finance automation platform Ramp acquires Venue to revamp procurement product
The value of the Venue acquisition has not been disclosed.
Canoe Intelligence appoints former CIA analyst Noel Calhoun as new CTO
Calhoun joins the fintech from Onsights.io, where he held the role of CTO for just under two years.
Banking Technology Magazine February 2024 issue out now
Cover story: PLANT LIFE – Talking flora and quantum computing.
Long-serving Barclays exec Matthew Haines leaves for Santander
Haines has joined Santander’s Payments Centre of Excellence as product owner, effective this month.
Twig enters liquidation, becoming latest UK fintech to shut down
Anthony Hyams and Kelly Knight of Insolve Plus were installed on 23 January to liquidate the fintech.
ICYMI fintech funding round-up: Kafene, General Index, Mesh and Netcetera
A handy round-up of the recent funding endeavours of fintech companies across the globe.
FinTech Futures: Top five news stories of the week – 2 February 2024
Our pick of the top fintech news stories this week includes Lloyds, HSBC, PayPal, Santander and more.
Mexican banking heavyweight Banorte taps SAP Fioneer to launch digital bank Bineo
The app-based offering launched this week with account and lending services.
NatWest’s Mettle names Michelle Prance as new CEO
Prance has been promoted to help “meet the evolving needs of the self-employed community”.
Schroders Personal Wealth announces launch of new investment platform
The proposed platform is set to arrive in the summer, along with a new client mobile app in Q2.
Southern California Bancorp and California BanCorp trigger $233.6m “true merger of equals”
The holding companies currently control Bank of Southern California and California Bank of Commerce.
Offa taps Finova to power new Sharia-compliant property lending platform
The move comes as part of a £1 million investment by Offa to upgrade its IT systems.
UK open banking fintech Kikapay winds down
Douglas Pinteau and Dermot Coakley of WSM Marks Bloom LLP were instated as joint liquidators on 16 January.
Santander names Petri Nikkilä as new Openbank CEO
Nikkilä joins Santander from ING, where he is currently serving as head of global retail transformation.
Blackhawk Network inks agreement to acquire Rewards-as-a-Service platform Tango Card
The acquisition, which will combine both parties’ rewards platforms, is expected to close later this year.
Amplifi Capital lands £22.5m funding to fuel Reevo Money expansion
Reevo Money was launched by Amplifi Capital in 2022 and is the firm’s second customer-facing brand.
MessageBird seeks entry into financial services with call for potential acquisitions
The platform’s search is currently focused on companies with EMI/PI licences and revenues of up to $5 million.
Kriya announces new £50m funding facility from Viola Group
Kriya aims to use the facility to enhance its offerings for B2B retailers.
