Amethis buys majority stake in Capital Banking Solutions
Amethis plans to help CBS to “accelerate its organic growth, especially internationally”.
News
Barclays’ bid to cut costs saw 5,000 jobs axed in 2023
A Barclays spokesperson confirms the cuts were part of the bank’s “ongoing efficiency programme”.
Boost Bank secures regulatory approval to begin operations in Malaysia
The new digital bank has been formed through a partnership between Malaysian fintech Boost and RHB Banking Group.
National Bank of Iraq and Capital Bank of Jordan overhaul core banking with Temenos
The two institutions have gone live with the vendor’s Temenos Transact core banking solution.
Demystify Podcast: Griffin, a brand new UK bank, with David Jarvis, co-founder and CEO
Griffin’s CEO and co-founder, David Jarvis, demystifies the complex layers of the UK challenger bank’s proposition.
UK fintech start-up Zilo lands £25m in Series A funding
The funding was led by FISV and Portage, with participation from State Street and Citi.
Mastercard to launch virtual cards in the Democratic Republic of Congo with Rawbank’s Illicocash
According to IMF figures, only 26% of the active population in the DRC have a bank account.
Vietnam’s LPBank taps Finastra and NGS for treasury solution
LPBank says its deal with Finastra forms part of its wider digital transformation strategy.
Hitachi Payment Services snaps up cash management business from Writer Corporation
“Industry veteran” Anup Neogi has also been appointed as the new managing director and CEO of the acquired business.
Indian paytech MobiKwik refiles draft papers for IPO, hopes to raise $84m
The company’s initial plans for a $255m IPO in 2021 were scrapped due to weakening market conditions.
Specialist neobank Panacea Financial names Ryan Gorney as new CTO
Gorney joins the company from Seacoast Bank, where he served as EVP CTO and chief innovation officer.
Nubank secures regulatory approval to operate as a financing company in Colombia
Nubank subsidiary Nu Colombia received the approval from the Financial Superintendence of Colombia (SFC).
Banco de España announces partners for wholesale CBDC trials
The Spanish central bank’s trials are expected to run for around six months.
Indian fintech PhonePe names Ritesh Pai as CEO of international payments
Pai joins PhonePe from TerraPay, where he served as president of product and solutions for three years.
ECB ramps up preparation phase for digital euro with calls for component providers
The ECB is issuing five contracts to vendors worth a total of €1.1 billion, with work due to begin in early 2025.
US fintech Talus Pay acquires Jobox and Clarus Merchant Services
Financial terms of both the acquisitions were not disclosed.
Security Bank of Kansas City selects NCR Atleos to manage ATMs
The agreement will see the bank adopt its partner’s ATM-as-a-Service and ITM-as-a-Service offerings.
ICYMI fintech funding round-up: Fimple, Money Industries and Koree
A handy round-up of the recent funding endeavours of fintech companies across the globe.
FinTech Futures: Top five news stories of the week – 5 January 2024
Here’s our pick of five of the top news stories from the world of finance and tech this week, featuring HSBC, Monese, Circle and more.
Kinecta Federal Credit Union taps FusionIQ for digital wealth platform
The credit union has adopted the FusionIQ One platform to power its ascent into digital investing services.
Rappi to discontinue RappiCuenta offering in Mexico next month
Users in Mexico have been asked to withdraw all funds before the closing date of 11 February 2024.
Capital on Tap triggers leadership reshuffle
Co-founder David Luck will assume the role of executive chairman, while CPO Damian Brychcy takes on the role of CEO.
Digital ID verification firm Socure bolsters executive team with three new hires
Arun Kumar has joined from Luma Financial Technologies as the company’s new CTO.
Form3 strengthens board with appointment of Anil Arora as non-executive director
Form3 hopes to leverage Arora’s “significant experience” in founding and scaling up fintech companies.
UK fintech Bumper raises $48m in Series B funding round
The round, led by Autotech Ventures, takes Bumper’s total funding to date to $64 million.
Blue Federal Credit Union partners Cotribute for digital account opening platform
Cotribute says it was able to launch digital account opening for new and existing members “in just 30 days”.
Former Starling Bank exec Helen Bierton to lead everyday banking for Lloyds
Bierton is to head the group’s everyday banking services across all of its divisions.
Circle secures conditional DASP registration in France, appoints new country head
Circle has appointed Coralie Billmann as head of French operations, subject to regulatory approval.
Kazakhstani fintech Solva eyes future as SME-focused bank following $20m investment
The investment was backed by the Sawiris family of the Egyptian Orascom Group and ZCP.
Blackstone set to acquire majority stake in Japan’s Sony Payment Services
Sony Bank will roll over a certain portion of its equity and continue to remain a minority investor in SPSV.
US paytech Kindcard eyes up OpenTransact acquisition
New York-based OpenTransact is a self-serve banking platform built to support high-risk businesses.
Monese aims to secure fresh funding after recording £30.5m annual loss for 2022
Monese says its services could be “adversely and potentially severely affected” if new funding isn’t found.
HSBC reportedly enters race to buy Tesco’s banking business
Sky News first reported Tesco Bank’s interest in exploring a sale in February last year.
Video: Beyond the hype – exploring the real-world use cases for AI in financial services
Industry experts from HSBC, IBM and NatWest assess the impact of AI in the financial services arena.
JP Morgan and Viva Wallet reportedly collide over board appointments
JP Morgan acquired a 48.5% stake in Viva Wallet in December 2022 for $800 million.
HSBC unveils new international payments app Zing in the UK
Zing is a multi-currency app and debit card that UK residents will be able to use in more than 200 countries.
Video: Envestnet Yodlee at Money20/20 USA 2023 – Delivering open banking in the US
We chat with Envestnet Yodlee’s Farouk Ferchichi and Lisa Novier about the future of open banking in the US.
Banking veteran Mary Usategui set to launch new venture BankMiami this year
Scheduled to arrive in Q2 2024, it will be the first de novo bank to be established in South Florida in 15 years.
Oshkosh Community Credit Union taps Sharetec for core processing solution
Wisconsin-based OCCU says the decision follows “an extensive search” for a new core partner.
HSBC completes sale of French retail banking business to CCF
Following the completion of the deal, My Money Group has renamed itself as CCF Group.
