Revolut granted UK trading licence from FCA
Revolut now plans to launch new trading products covering UK and EU stocks and ETFs.
News
Goldman Sachs to spin out technology platform GS DAP into independent business
GS DAP has operated as part of Goldman Sachs’ Digital Assets business since launching in 2022.
TrueLayer reportedly reduces headcount by around 25% to cut costs in push for profitability
City AM reports that TrueLayer cut 71 jobs in September, citing sources familiar with the matter.
French asset manager Amundi buys wealthtech Aixigo for €149m
Aixigo’s API-based wealth management platform and 150 team members will join Amundi Technology.
PayTech Awards 2025 now open for entries
Nominations for the PayTech Awards 2025 are now open, with the deadline for entries set for 14 March.
Celero Commerce snaps up Precision Payments for undisclosed sum
Celero expects its North American card processing volume to exceed $28 billion following the acquisition.
Network International inks referral agreement with NBF for corporate omnichannel payment solutions
The deal will enable National Bank of Fujairah to offer Network’s digital payment solutions to its corporate clients.
Cartoon: Wanderer above the sea of fog
This new cartoon illustrates how regulatory changes and the complexity of compliance stymies new entrant fintechs.
Trust Payments appoints Laurence Booth as new CEO
Booth has been interim CEO at Trust Payments since September 2024 and first joined the company in 2021.
NatWest Group expands partnership with NCR Atleos for self-service banking upgrade
NatWest will modernise over 5,500 ATMs across the UK through the enhanced partnership.
Vietnam’s Maritime Commercial Joint Stock Bank partners Backbase for Engagement Banking platform
MSB is Vietnam’s first joint-stock commercial bank and currently serves 5.5 million customers.
Crypto.com buys Australian brokerage service and trading company Fintek Securities
Crypto.com also recently acquired Watchdog Capital to offer equities and equity options for traders in the US.
Demystify Podcast: Demystifying legacy modernisation with Irene Sandler, CMO of Mechanical Orchard
In this podcast episode, Dave and Dharm chat with Irene Sandler, CMO of Mechanical Orchard.
Morgan Stanley makes $20m investment in NovoPayment to fuel product and commercial growth
The funding follows NovoPayment’s $19 million Series A round in 2022.
Myanmar’s Wave Money taps Amdocs for Digital Financial Services platform
Wave Money’s WavePay digital wallet currently has over 11.5 million users.
ICYMI fintech funding round-up: Mutual Vision, Tako, Zeplyn, Tranched, and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
UK government announces reforms to boost financial sector growth
The Chancellor has revealed plans for a Digital Gilt pilot and “decisive action to advance open banking”.
FinTech Futures: Top five news stories of the week – 15 November 2024
Our pick of the top fintech news stories this week includes Klarna, Ualá, Visa and more.
Research report: Revenue enablement in financial services – 2024 global findings & insights
How financial services are leveraging enablement technology to meet shifting client expectations and drive productivity gains.
Gate City Bank goes live with Alkami’s full suite of digital banking solutions
The selection includes Positive Pay for ACH reporting and new account opening capabilities.
Mesa debuts homeowners credit card, offering rewards on mortgage and home expenses
The card allows customers to earn ‘Mesa Points’ on mortgage repayments and home-related purchases.
Brian Harkin named new head of tech and innovation at Centrus
Harkin moves from London-based fintech Kynec, where he has been serving as CTO since 2022.
Former Solaris execs to launch fintech start-up Zazu for African SMEs
Zazu will provide business banking services and financial management tools to African SMEs.
Klarna picks New York for upcoming IPO
Klarna has not yet disclosed the number of shares or expected price range of the offering.
Guide: Charting the course – understanding payment trends in the financial sector in 2024
Insights from extensive research on how UK consumers prefer to pay and the payment options currently offered by 200 financial services providers.
Bank of Valletta taps Profile Software for investment management solution
Malta’s largest and oldest fiancial institution will deploy Profile Software’s Axia Suite.
Video: Experian at Money20/20 USA 2024 – Combining GenAI and rich data to drive innovation
Experian’s Scott Brown discusses how the company is utilising GenAI to deliver innovative new solutions.
Prodigy Finance inks $310m funding facility with US DFC for cross-border student loans
Prodigy previously sourced a $250 million facility with the DFC in 2020.
Simmons First National Corporation CEO Bob Fehlman to retire this year
George Makris Jr is returning as chairman and CEO of Simmons First National Corporation.
Jeremy Nicholds steps down as CEO of UK paytech Judopay
Judopay was acquired by Italian banking group Banca Sella’s open finance subsidiary, Fabrick, last year.
Visa rolls out flexible payment solution in US and UAE with Affirm and Liv
The offering has been available in Asia for over a year with the launch of Olive Card in Japan.
Argentinian fintech Ualá lands $300m Series E funding round at $2.75bn valuation
The company claims that its app now has 8 million users across Argentina, Colombia, and Mexico.
LSEG taps IDVerse for AI-powered ID verification solutions
LSEG will deploy IDVerse’s Zero Bias AI offering alongside its Deepfake Defender AI solution.
Metro Bank fined £16.7m by the FCA for “financial crime failings”
The fine relates to historic deficiencies in the company’s transaction monitoring systems and controls.
Canadian fintech Neo Financial raises $258m in mix of equity and debt funding
The round comprised $78.9 million in equity and $179.3 million in debt.
Zand Bank partners Alibaba Cloud and Ant Digital Technologies to drive GenAI adoption in UAE
The partnership seeks to “accelerate the applications of generative AI, blockchain and payment technology”.
Agicap lands €45m Series C led by AXA Venture Partners
The new funding builds upon Agicap’s $100 million Series B, led by GreenOaks Capital in 2021.
Polish fintech Conotoxia eyes EU banking licence, plans to transform into joint-stock company
Conotoxia says it will aim to complete the transformation “as soon as possible”.
BCP to invest $650m in cloud modernisation drive with Microsoft and Kyndryl
BCP will use Microsoft Azure to create a hybrid computing environment in collaboration with Kyndryl.
PNC Bank to invest further $500m to expand US branch network
PNC’s total investment in branch expansion is set to be $1.5 billion over the next 5 years.
