The State of AI in Enablement: 2023 Report
The report takes stock of current AI familiarity, expectations, and challenges among enablement technology users.
News
Jack Dorsey’s Block lays off staff across Cash App, Square and foundational teams
The cuts are to be actioned with immediate effect, according to a staff memo from Dorsey.
Conversational AI platform Kore.ai raises $150m funding to fuel growth
The funding will enable Kore.ai to scale its workforce and further develop its product offering.
PayPal to trim workforce by 9% over 2024 in bid to streamline business
PayPal president and CEO Alex Chriss says the cuts aim to “reduce complexity and duplication”.
What the FinTech? | S.5 Episode 1 | The growth of fintech in Africa
In this episode of the podcast, we’re joined by Hangwi Muambadzi, Principal and Head of Africa at CommerzVentures.
UK fintech Paysme winds down operations
Founder Derek Stewart says Paysme is “not in a sufficiently strong financial position to grow to the next milestone”.
UK challenger Tandem appoints former JP Morgan exec Maria Khan as director of product and digital
The bank says Khan will work to develop and cultivate “green digital banking solutions”.
YouLend secures £4bn private securitisation deal with JP Morgan
The deal will enable YouLend to provide additional revenue-based financing to SMEs.
BNPL lender Sunbit secures $310m debt facility with Citi and Ares Management Credit
The LA-based fintech says it will use the facility to attract and retain more customers.
Griffin begins hunt for new COO with Maria Campbell set to depart
Campbell is due to depart the company this quarter to take “some personal time out”.
Dutch challenger Bunq prepares for UK relaunch as it reports first full year of profitability
Following a reported net profit of €53.1 million in 2023, Bunq has now applied for a UK EMI licence.
UK’s PRA fines HSBC £57m for “historic depositor protection failings”
The PRA says the fine is the second-largest issued by the regulator to date.
The Bank of Missouri looks to bring digital banking products to fintechs with i2c partnership
TBOM will tap i2c to enable its fintech clients to build “unique configurations of digital-first financial services”.
GFT cultivates core banking capabilities with acquisition of Colombia’s Sophos Solutions
The acquisition will see GFT take on all of Sophos’ partners and 1,700 of its employees.
Armenia’s Ardshinbank selects ERI’s Olympic Banking System for securities and forex
Ardshinbank will also integrate the vendor’s tech to strengthen its retail mobile app.
Lloyds to cut 1,600 jobs across branch network amid growing customer preference for digital banking
The group says it will also be introducing over 830 new roles within its relationship growth team.
Swiss crypto neobank Sygnum lands $40m growth investment
Sygnum says it will use the capital to expand into new markets and further develop its product suite.
Louisiana’s b1Bank partners KlariVis for data analytics platform
The bank will utilise the vendor’s core agnostic enterprise dashboard and analytics platform, KlariVis Advantage.
Mondu gears up for European expansion with €30m debt financing boost
Mondu’s credit facility with VVRB now stands at €50 million following an earlier deal in 2022.
Bread Financial names former Amex CIO Allegra Driscoll as new CTO
Driscoll has also previously held senior positions at Goldman Sachs and Credit Suisse.
Société Générale reportedly seeks new buyer for neobank Shine
Les Echos reports the bank is approaching potential buyers for Shine four years after acquiring the company.
Webinar | 5 March 2024 | Banking in 2024: The key digital transformation trends shaping the industry
Join this free webinar to learn more about the tech trends shaping the banking industry in 2024.
UK to continue work on digital pound, but “no final decision has been made” on a potential launch
HM Treasury and the BoE have responded to a public consultation initially launched last February.
FinTech Futures: Top five news stories of the week – 26 January 2024
Our pick of the top fintech news stories this week includes Abrdn, Kashable, Synchrony and more.
Bilt Rewards more than doubles its billion-dollar valuation with new $200m equity investment
Bilt Rewards was previously valued at $1.5 billion following a $150 million funding round back in 2022.
Kurdistan International Islamic Bank taps Azentio for iMAL core banking platform
The bank will also utilise Azentio’s financial crime management and anti-money laundering (AML) system.
ICYMI fintech funding round-up: Safty, Ozone API, WealthKernel and Karty
A handy round-up of the recent funding endeavours of fintech companies across the globe.
CFPB proposes new laws to stamp out NSF fees for transactions declined in real time
NSF fees on debit card and ATM transactions will be “unlawful” under the proposed rule.
UK fintech ieDigital snaps up AI tech provider Abaka
The fintech’s takeover of Abaka comes only four months after it also acquired US CUSO Connect FSS.
BillingPlatform lands $90m growth equity investment from FTV Capital
BillingPlatform previously raised $10 million in a Series B round back in 2019.
Abrdn announces £150m cost-cutting drive with 500 jobs on the chopping block
The cuts are expected to impact group functions and support services across its middle management.
Duco names Michael Chin as new CEO as Christian Nentwich steps down
Chin previously served as CEO of Broadway Technology prior to its acquisition by Bloomberg last October.
Former Adyen exec Jan-Pieter Lips joins UK’s DNA Payments as CEO
The London-headquartered firm has tasked its new CEO with leading its next period of growth.
Navy Federal Credit Union taps Oracle for cloud and account servicing tech overhaul
The largest credit union in the US will leverage four different Oracle solutions to boost automation and efficiency.
ModernFi lands $18.7m Series A funding to boost deposit network expansion
The fintech last raised $4.5 million through a seed round in February 2023.
US fintech Brex to axe 20% of workforce
The cuts are part of an organisational restructure, with founder Pedro Franceschi saying the firm grew too quickly.
Grow Financial FCU taps NCR Atleos for ATM management
The Tampa-headquartered credit union claims to operate 70,000 surcharge-free ATMs across the US.
Former Sutton Bank exec Glenn Murray joins start-up Evolution 2100 as chief strategy officer
Evolution 2100 plans to provide a suite of financial services for underserved communities and businesses.
The Philippines’ UnionBank taps Informatica for MDM solution
Informatica says the solution provides an “enterprise-wide, 360-degree view of customers”.
EBA addresses ESG and climate change risks with new proposed guidelines
The EBA says it is accepting comments on the proposals via its consultation website until 18 April 2024.
