UK government publishes findings from the Future of Payments Review
Commissioned by the UK chancellor and launched in July this year, the report has been authored by Joe Garner.
News
Marqeta SVP and managing director Jeff Parker steps down
Marqeta hired Parker in September 2022 to build out its international go-to-market and operational functions.
FCA greenlights Klarna for payment and credit services in the UK
A newly formed entity, Klarna Financial Services UK, will now provide all consumer-facing services in the country.
ICYMI fintech funding round-up: Kiwi, ID Finance, Crezco and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
FinTech Futures: Top five stories of the week – 24 November 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
UK’s Kodelab to provide lending tech for HKMA CBDC pilot with Ripple and Fubon Bank
The pilot is part of the HKMA’s three-stage approach to CBDC development.
Mexican fintech start-up Trafalgar taps Thought Machine for core banking technology
Trafalagar plans to launch its new platform, running on Vault Core, in Q2 2024.
Irish paytech NomuPay acquires UK-based PSP Total Processing
Total Processing provides payment solutions to merchants in Europe, North America and MENA.
Binance CEO exits after pleading guilty to money laundering charges
Binance has agreed to pay $4.3bn in “one of the largest corporate penalties in US history”.
Mashreq taps Visa and Ecolytiq to launch climate banking platform
The platform uses transaction data to produce carbon footprint analytics.
Sweden’s SEB selects Blacksmith KYC to automate corporate client data collection
Blacksmith claims to have specifically tailored the platform for SEB following a year-long pilot project.
UAE fintech start-up Dosh Payments gears up for full launch, lands tech licence from ADGM
Claiming to be the Middle East’s first social payments app, Dosh Payments has been building in stealth since 2021.
After Binance and Coinbase, the US SEC sues crypto exchange Kraken
Kraken says it disagrees with the allegations and aims to “vigorously defend” itself in court.
Fexco hires ex-JP Morgan Payments director Sara Savidge as CEO of corporate payments
Savidge previously served in several high profile roles at JP Morgan Payments, most recently as managing director.
Crypto payments firm BCB Group names Oliver Tonkin as new CEO
Tonkin co-founded the firm with Oliver von Landsberg-Sadie, who he will succeed as CEO.
BBVA Switzerland selects Metaco’s Harmonize to power digital asset operations
Metaco will work with the bank’s existing partner Avaloq to deploy its digital assets offering.
What the FinTech? | S.4 Episode 21 | Managing chargebacks and payment disputes
In this episode of the podcast, we’re joined by Monica Eaton, founder and CEO of Chargebacks911.
UK fintech Triver secures £20m debt facility from Avellinia Capital
Triver says the new facility will enable it to offer more than £200 million in funding annually to small businesses.
Mastercard’s joint venture receives approval to commence domestic payments in China
Mastercard’s JV received formal approval from the People’s Bank of China.
Fils launches as digital ESG infrastructure for payments sector
Founder Nameer Khan describes his latest venture as “a catalyst for the evolution of ESG enforcement”.
Blue Ridge Bank set to trim BaaS fintech partnerships down to a “limited number”
The bank was flagged by the OCC last year for “unsafe or unsound” practices concerning its BaaS business.
Klarna prepares for SEPA instant payments with Form3 partnership
The agreement will directly connect Klarna to STEP2 and the gross settlement payment system RT1.
Checkout.com appoints Mariano Albera as new chief technology officer
Albera has been with Checkout.com for the last three years, serving as senior vice president of engineering.
French digital accounting start-up Indy lands €40m Series C funding
The round was led by European private equity firm BlackFin Capital Partners.
Jordan Ahli Bank taps Fintech Galaxy to comply with open banking standards
The bank’s customers will now be able to share their financial and banking data with third-party apps.
Scottish challenger Alba Bank taps nCino to power SME lending
The SME-focused challenger landed its UK banking licence with the FCA and PRA in March.
US credit card fintech Petal reportedly eyeing potential sale
According to a report by Fortune, sources say the start-up has received multiple offers for acquisition.
US challenger HMBradley winds down consumer business, eyes B2B space
“Our consumer brand growth was falling short of our goals,” says HMBradley CEO and co-founder Zach Brunke.
Google parent company Alphabet in talks to seize major stake in UK challenger Monzo
Monzo could close its latest round of funding before the end of the year as it eyes up a potential IPO.
BNF Bank chooses Aspire Systems as strategic partner for implementing cutting-edge Temenos digital banking solutions
Aspire Systems has partnered with BNF Bank on a transformation journey to implement Temenos digital banking solutions.
Advent International snaps up UK paytech myPOS
The deal will be completed through Advent’s new payments company, AI Circle Bidco.
US fintech Brex names Karandeep Anand as its first president
Anand first joined Brex in January 2022 as chief product officer.
WeLab launches Bank Saqu as its second digital bank in Asia
The newly launched digital bank aims to target the younger generations, with a focus on solopreneurs in Indonesia.
Jordan’s Capital Investments taps Codebase Technologies for digital onboarding
Capital Bank of Jordan previously tapped Codebase to launch its digital banking app and neobank Blink.
UK-Africa remittance start-up Zazuu closes down
Founded in 2018, Zazuu operated a marketplace for cross-border payment networks in Africa.
Egypt’s KashNow partners Sandah to provide small businesses with access to financing
Small businesses will now be able to submit loan applications through the KashNow app.
Eurasian Bank launches Digital Tenge Card in preparation for Kazakhstan’s CBDC
The National Bank of Kazakhstan intends to issue its own CBDC in late 2025.
US lender Enova fined $15m by CFPB for “widespread illegal conduct”
Enova says it has reached an agreement with the CFPB, with the majority of items being self-reported by the firm.
Lack of funding forces US credit card fintech Ness to close down
Having raised $15.5 million in seed funding, the fintech had hoped to raise an additional $40 million but to no avail.
Apple Pay rolls out new open banking feature for UK customers
Apple Pay’s UK customers can access their “most relevant” account information at the time of purchase.
