US paytech Finix is now officially a payments processor
The Infrastructure-as-a-Service firm now has direct connections to all major US card networks to process payments.
News
PSR names civil service veteran Natalie Golding as chief operating officer
Golding joins from the Cabinet Office where she was director of the leadership, government skills and curriculum unit.
LHV lands UK banking licence from the Prudential Regulation Authority
LHV is the first company to receive a banking licence without restrictions in the UK in 2023.
Uber expands Stripe partnership to give users more ways to pay
The collaboration makes Stripe the global payments partner for Uber across many of its top markets.
Egypt’s Taly taps BPC to power digital payment services
Taly aims to broaden financial inclusion and boost digitalisation in the country.
US digital banking platform Greenwood acquires neobank Kinly
The acquisition marks Greenwood’s third over the last year.
First Citizens Bank of Iowa and Minnesota moves to the cloud with Finastra
Finastra will migrate the bank’s Fusion Phoenix core solution from on-site hosting to the cloud.
Sharia-compliant challenger Nomo taps Paymentology for digital payments platform
Paymentology’s technology has allowed the bank to offer cross-border transaction services “without high fees”.
Deutsche Bank acquires Numis in £410m deal to build out UK investment banking arm
Deutsche Bank plans to fold its UK and Ireland corporate finance business into Numis.
Tarabut Gateway lands $32m in Series A funding
With the new funding, the Dubai-based firm plans to expand its footprint in Saudi Arabia.
Shieldpay names Andrew Hawkins as CEO for UK & Europe
Hawkins joined Shieldpay in August 2022 as chief product and technology officer.
FCA proposes listing regime revamp to make UK more competitive
The FCA says its proposals would make listing rules “more effective, easier to understand and more competitive”.
UK fintech Revolut marks Latin America debut with Brazil launch
Revolut will initially offer a multi-currency account and crypto investing for customers.
Microsoft taps Stripe, PayPal and GoDaddy to launch payments on Teams
North American businesses will be able to accept real-time card payments directly on the Teams platform.
Nigerian paytech Nomba raises $30m in pre-Series B round
The start-up will use the funding to expand in Nigeria and across other African markets.
Cartoon: Curmudgeon
A new cartoon illustrating the arbitrary approach to crypto regulation in the United States.
Morgan Stanley reportedly set to cut 3,000 jobs by end of Q2
A dearth of deal making is to blame, Bloomberg reports, with a 32% decline in the bank’s merger advisory arm.
JP Morgan Chase snaps up troubled First Republic from FDIC in $10.6bn deal
JP Morgan has assumed all deposits – insured and uninsured – worth approximately $92 billion from the FDIC.
Tradeweb in advanced takeover talks with Aussie trading platform Yieldbroker
The AUD 125 million ($84m) deal remains subject to Yieldbroker stockholder approval.
HSBC triples quarterly profits following SVB UK acquisition and interest rate hikes
The bank also intends to begin a new share buyback of up to $2 billion.
Mastercard rolls out Crypto Credential service to strengthen trust in blockchain ecosystem
Mastercard Crypto Credential defines verification standards, instilling “critical” trust in blockchain tech.
Shopify taps B2B payments platform Melio for bill pay solution
The new solution will allow Shopify merchants to pay and manage their bills without leaving the platform.
Fintech Lanistar names Ed Blankson as chief financial officer
Blankson, who spent several years at Tide, brings “a wealth of experience” to the role, Lanistar says.
TAS acquires fellow Italian software provider Mitobit
The acquisition is the fourth for TAS Group since July 2022.
Deutsche Börse to acquire Denmark’s SimCorp in €3.9bn deal
SimCorp will sit within a newly created investment management solutions segment, Deutsche Börse says.
Banking Technology Magazine May 2023 issue out now
Cover story: EVERYTHING, EVERYWHERE… but is all at once the answer?
Retail giant Walmart sues Capital One over credit card failures
Walmart alleges Capital One failed to meet several contractual obligations and customer service standards.
IOUpay goes into voluntary administration over suspected fraud
It took this step due to a “number of outstanding debts” with “no reasonable prospect” of repaying them.
FinTech Futures: Top five stories of the week – 28 April 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Demystify Podcast: Demystifying embedded banking with Paul Staples
Demystifying the approaches various banks, such as Standard Chartered, JP Morgan Chase & HSBC, are taking to BasS.
Axoni raises $20m in equity funding round led by EJF Ventures
The funding will be used to advance Axoni’s technology and support its global expansion plans.
Pakistan’s UBL Fund Managers taps Codebase for digital onboarding solution
The omnichannel digital onboarding solution has been built using Codebase’s Digibanc platform.
ICYMI fintech funding round-up: m3ter, Niro, Tembo and more
Our weekly fintech round-up for you to get the latest funding news from around the world.
Bunker taps InvestCloud to launch digital investment platform in LatAm
Bunker will make it easier for LatAm consumers to open and manage US investment accounts.
LatAm open finance platform Belvo acquires Brazilian paytech Skilopay
The deal will see Belvo become “the most complete” account-to-account (A2A) payments provider in Brazil.
US fintech funding round-up: Credora, Summer & Yelo
A handy round-up of the recent funding endeavours of fintech companies across the US.
South Korea’s Kakao Pay eyes majority stake in Siebert
Kakao Pay has acquired a 19.9% stake in the US firm and plans to buy an additional 31.1%.
Mexico’s Clara secures $60m in equity funding round led by GGV Capital
Clara has now raised a total of $160m in equity funding since it began operations over two years ago.
Nigerian paytech VigiPay taps ThetaRay for Sonar AML solution
Sonar will help protect the growing business against sanctions violations and other types of financial crime.
UK regtech GSS names Ruth Fletcher as joint COO and CFO
Fletcher previously served in a similar capacity as COO/CFO at international money transfer firm CurrencyFair.
