PSR delivers update on progress of New Payments Architecture
The PSR’s future direction on the NPA was outlined in its annual plan and budget for 2023/24.
News
Cartoon: Light at the end of the tunnel
A new cartoon illustrating how the crypto community is starting to believe we’re at the start of another bull market.
Finalists announced for PayTech Awards USA 2023
We are thrilled to share with you the finalists for the first PayTech Awards USA!
UK’s Clockwise Credit Union launches self-built core banking solution
Clockwise’s IT manager says the launch is a “culmination of a huge amount of work over the past six years”.
Virgin Money to shutter 39 bank branches across the UK
The closures, which will take effect in October, will leave Virgin Money with 91 bank branches in the UK.
US healthcare fintech Collectly lands $29m Series A funding
The company will put the funding towards enhancing its software and furthering its market expansion.
ICYMI fintech funding round-up: Anduin, Thunes, Portrait Analytics & more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
N26 reportedly cuts 15% of Brazilian workforce
N26 Brazil has laid off around 20 staff, according to local news outlet Estadao.
FinTech Futures: Top five stories of the week – 21 July 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Filipino fintech start-up Salmon lands $20m debt funding
Salmon says the investment marks the “largest ever” debt financing for a Series A tech company in the Philippines.
Salve Financial Hub signs for Finastra Essence to reduce payment delays
The San Marino-based fintech will deploy Finastra’s SaaS solution for high-value corporate payment processing.
The US Federal Reserve launches new instant payments system FedNow
FedNow operates in parallel with the Federal Reserve’s existing payment services, Fedwire and FedACH.
Rapyd names Shlomit Wagman as global chief regulation and compliance officer
Wagman joins Rapyd from the Israel Money Laundering and Terror Financing Prohibition Authority (IMPA).
Mexico’s CNBV reportedly facing legal action over delays publishing open finance rules
The complaint was filed by a Mexican citizen in June, according to El Economista.
Deutsche Bank fined $186m by US Federal Reserve
The Fed says it found that Deutsche Bank made “insufficient remedial progress” in fixing its AML controls.
Webinar | 6 September 2023: Pioneering innovative partnerships – unveiling the game-changing fintech hybrid model at the point-of-need
An insightful journey through the experience of the successful implementation of the hybrid start-up model.
Karat Financial secures $70m in mix of equity and debt financing
The start-up has also launched a new business card in partnership with Visa to help digital creators access credit.
Nordea acquires Danske Bank’s Norwegian personal customer and private banking business
The agreement is set to bring approximately 285,000 new customers to Nordea.
Myanmar’s FDB Bank signs for Oracle’s Flexcube core banking system
The signing and project kick-off took place this week in Yangon, Myanmar.
Germany’s BaFin provides updated order on the prevention of money laundering at N26
N26 will reportedly continue to be restricted to 50,000 new customer acquisitions per month.
Brite Payments announces two new appointments to its C-suite
The Swedish fintech has appointed Alexander Kassai as COO and Fredrik Strömqvist as CFO.
UK climate fintech Sylvera secures $57m Series B funding
The latest investment follows Sylvera’s $32 million Series A round held in January 2022.
Stanford Federal Credit Union overhauls digital engagement through Agent IQ partnership
The partnership will see Stanford FCU leverage Agent IQ’s digital engagement platform Lynq.
Swiss SME lender TP24 secures £345m debt funding from Barclays, M&G
The funding will be used to lend to SMEs in the UK, Australia and Netherlands.
Cognaize lands $18m Series A to fuel AI-powered document processing for financial services
The start-up will use the funds to accelerate its research and product development and boost its marketing activity.
Yazan Hamdan joins Bank of Jordan as new head of digital banking
Hamdan joins the bank from Jordan’s first neobank Blink, where he served as platform lead since December 2021.
Starling Bank taps Napier for transaction screening solution
Starling Bank will utilise Napier’s anti-money laundering (AML) and counter-terrorism financing (CTF) technology.
Corelation signs three more credit unions for core processing
All three are preparing their organisations for future growth with higher member engagement.
FSB publishes global regulatory framework for cryptoassets
The framework comes a year after the FSB called for regulation of the crypto industry on an international level.
Banque Saudi Fransi completes payment processing upgrades with TCS
The Saudi bank selected TCS BaNCS to digitise its IT landscape across deposits, lending and payments.
Thredd, formerly GPS, appoints Ava Kelly as new chief product officer
Based in the US, Ava Kelly brings more than 25 years of payments industry experience to her new role.
US fintech Earnest partners Nova Credit to make international student loans more accessible
The partnership seeks to provide better financing opportunities to foreign-born students in the US.
Saudi Arabia’s HyperPay acquires fintech start-up Sanad Cash
HyperPay is aiming to expand its product offerings in order to become an “all-in-one” digital payments platform.
Lloyds Banking Group customers can now lease a car via mobile app
Lloyds claims it is the first UK bank to launch such an offering, now available to 11 million customers.
ila Bank taps Arab Financial Services for prepaid card offering
The Bahraini denominated card can be used to pay for transactions in both an in-store and online setting.
ThetaRay’s Sonar goes live on Microsoft Azure Marketplace
ThetaRay currently engages around one billion end users and monitors over 15 billion transactions per year.
Huawei launches F2F2X data infrastructure architecture to help FSI build and manage modern data centres
F2F2X (Flash-to-Flash-to-Anything) was unveiled at the recent Huawei Intelligent Finance Summit.
Demystify Podcast: Payments, the planet & equality with Monika Liikamaa, co-founder of Enfuce
Enfuce’s Monika Liikamaa helps demystify why and how the payments industry can help with the climate agenda.
Santander reportedly looks to boost investment banking operations with new hires
Reuters reports Santander is making at least 50 new hires in a push to become a major investment banking player.
Canadian Tire Bank to move to Temenos Banking Cloud
CTB will utilise the Temenos Banking Cloud to replace its legacy core systems and move to a SaaS model.
