Bank Rakyat Indonesia taps Nium for international money transfers
Bank Rakyat Indonesia operates over 7,150 branches and reported approximately $4 billion in profit for 2023.
News
Charles Schwab to phase out Institutional Intelligent Portfolios platform in favour of iRebal solution
Schwab will no longer be opening new accounts on the platform from 15 November 2024.
FCA debuts AI Lab to promote safe use of AI in UK financial sector
The AI Lab is designed to facilitate the “safe and responsible use of AI in UK financial markets”.
Wise joins Japan’s domestic payment network Zengin
Wise will be able to process real-time payments in Japan directly, without intermediaries.
OCC announces enforcement actions against four US banks
The OCC has released its latest list of enforcement actions taken against US banks in recent weeks.
Kuwait Finance House taps Gieom to digitise policy and procedure management
The integration will enable KFH to create role-based business process flows.
NBS Bank swaps Temenos T24 core banking system for Oracle Flexcube
NBS Bank is a mid-size financial institution offering retail, SME and corporate banking services in Malawi.
Zenus Bank launches global BaaS offering following Tuum tech integration
Zenus Bank says it has integrated Tuum’s Accounts and Payments modules into its tech ecosystem.
FintechIO introduces new A2A payments platform Blip-Pay
Blip-Pay was unveiled at this month’s Open Banking Expo in London.
National Bank of Fujairah expands iGTB partnership to implement eMACH.ai Cloud on Microsoft Azure
iGTB debuted its new Microsoft Azure-managed digital transaction banking solution earlier this month.
Daily News at Sibos 2024
Download your free copy of the Daily News at Sibos publication today!
ICYMI fintech funding round-up: Abhi, Emerge, Diesta, and Axyon AI
A handy round-up of the recent funding endeavours of fintech companies across the globe.
FinTech Futures: Top five news stories of the week – 18 October 2024
Our pick of the top fintech news stories this week includes TD Bank, Barclays, Klarna and more.
UK fintech infrastructure platform Manigo snapped up by Invex Ventures
The acquisition comes after Manigo entered administration last month.
UK government looks to strengthen BNPL protections with launch of latest consultation
The consultation proposes clearer information for BNPL consumers, as well as stronger dispute rights.
Stripe reportedly in discussions to buy stablecoin infrastructure start-up Bridge in potential $1bn deal
Stripe confirmed plans to introduce stablecoin payments at the checkout in April.
US fintech start-up CapWay shuts down
Founder Sheena Allen announced on LinkedIn that the start-up “is no longer an active business”.
Nutmeg State Financial Credit Union taps Alkami for digital banking upgrade
The Connecticut-based credit union will deploy Alkami’s Digital Banking Platform.
Klarna sells UK loan portfolio to hedge fund Elliott Advisors in £30bn deal
Klarna says it will still own “all consumer-facing activities, including underwriting and servicing”.
Banking Tech Awards 2024 finalists revealed!
We are delighted to share with you the shortlist for FinTech Futures’ Banking Tech Awards 2024.
Philadelphia’s Citadel Federal Credit Union agrees to pay $6.5m to settle allegations of redlining
This settlement is the DOJ’s first redlining resolution with a credit union.
Capital One commercialises AirKey authentication technology for financial institutions
75 million Capital One cards are currently equipped with the technology.
Morocco’s CIH Bank taps Backbase for Engagement Banking platform
CIH Bank will use the platform to onboard both local customers and Moroccans living abroad.
Navigant Credit Union partners Baker Hill to boost commercial loan operations
Baker Hill’s Commercial Lending solution will be integrated directly within Navigant’s Fiserv DNA core.
Barclays signs agreement to become exclusive issuer of GM credit card programme
The bank will replace Goldman Sachs as the issuer of the US automotive giant’s credit card programme.
Santander UK enters open banking payments partnership with Token.io
Customers will now be able to make direct A2A payments from external accounts to repay credit cards.
Dutch fintech start-up Tebi bags €20m Series A funding
Tebi offers a financial platform tailored for independent hospitality and retail businesses.
FinVolution expands into Pakistan with Daira launch
Daira is a new lending platform offering low-interest, flexible loans for customers in Pakistan.
SoFi secures $2bn deal with Fortress Investment Group to expand loan platform business
The deal will help fuel the company’s personal loan origination activities.
Augmentum Fintech appoints tech entrepreneur William Reeve as new chairman
Reeve’s 35-year career includes roles at IBM, NatWest, McKinsey, and Nutmeg.
Citi and Mastercard collaborate to enable cross-border payments via debit cards
The partnership will enable cross-border payments to Mastercard debit cards in 14 receiving markets.
New Zealand Bankers Association selects UK fintech obconnect to power the country’s CoP ecosystem
Retail banks in New Zealand will begin rolling out the new CoP service “by the end of November this year”.
Best Egg lands $500m purchase facility to expand personal loan product
The purchase facility builds on the company’s $225 million Series E round completed in March 2022.
TD Bank hit with $3bn in fines over AML failures
The $3.09 billion in total fines includes a record $1.8 billion penalty from the US Justice Department.
White paper: Combatting APP fraud – how to build a best-in-class fraud prevention solution
Strategies for banks to combat APP fraud, insights into payment security and protection against threats.
Warburg Pincus snaps up minority stake in Brazil’s Contabilizei for $125m
Warburg Pincus has now become Contabilizei’s largest shareholder.
Wealth management firm Farther quadruples valuation with $72m Series C
The round was co-led by CapitalG, the independent growth fund of Google’s parent company Alphabet.
Monzo achieves $5.9bn valuation with employee share sale
This follows Monzo’s June announcement of its first annual profit.
Standard Chartered’s India and South Asia CEO Zarin Daruwala to retire
Standard Chartered says it will provide an update on Daruwala’s successor “in due course”.
FinTech Futures: Top five news stories of the week – 11 October 2024
Our pick of the top fintech news stories this week includes Monese, TSB Bank, Temenos and more.
