Swedish paytech Trustly strengthens risk management with new hires
Anna Bjurefeldt joins Trustly as head of internal audit and Mia Bjurkell as director of risk and compliance.
News
UK payments regulator PSR unveils new-look executive team
Oliver Hanmer joins as head of supervision and compliance monitoring, completing the PSR exec team hires.
Restaurant365 lands $135m funding at unicorn valuation
The round takes the Restaurant365 valuation to over $1 billion.
NatWest buys back shares worth £1.26bn from the UK government
The sale is the sixth block sale of shares since it rescued the bank during the financial crisis of 2008.
India’s PhonePe secures another $100m from General Atlantic
With the latest funding, PhonePe has raised a total of $850 million in the current round.
Wise CFO Matt Briers to leave money transfer firm next year
Wise will start the search for its next CFO immediately.
Sonata Bank taps Plinqit to help restaurant workers meet savings goals
Through the partnership, Sonata will provide customers with ways to save and plan for future financial needs.
Airbnb taps Stripe to enable bank payments for US customers
The feature will be available for customers with a US bank account.
Sonata Bank aims to boost quick service restaurant employees’ financial health
The challenger has raised more than $20 million in its initial round of funding.
Hong Kong Monetary Authority kickstarts e-HKD retail CBDC pilot
A total of 16 firms have been chosen from across the financial, payments and technology sectors to take part.
American Bank & Trust taps Marstone for digital wealth management offering
With the partnership, the bank aims to retain existing client deposits and attract new retail bank customers.
FinTech Futures: Top five stories of the week – 19 May 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Singapore’s Whampoa Group selects Bahrain as HQ for new digital bank
Launching end of 2023, the new digital bank aims to support the adoption of digital assets worldwide.
Bank of England reportedly planning to reject Revolut banking licence
The PRA reportedly intended to issue a warning notice to Revolut over its balance sheet.
San Francisco fintech Cardless secures $75m credit facility from i80 Group
The debt facility will provide Cardless “flexibility” to meet growing demand for co-branded credit card products.
Meridian Bank taps Corserv to launch business credit card programme
With Corserv, Meridian Bank will be able to offer credit cards with a variety of APRs, rewards and features.
ICYMI fintech funding round-up: Bitpanda, Jenfi and more
This week’s handy funding round-up includes six fintech firms from across the world.
Spain’s CaixaBank partners Google Cloud to drive digitalisation
The partnership will see the bank leverage Google Cloud’s cloud computing, data analytics and AI/ML capabilities.
Low-code AI integration platform AI Squared names Michelle Bonat as new CTO
Bonat will be responsible for software engineering, data science, AI research, IT and product management.
Bank of America launches new accelerator programme for fintech start-ups
The programme aims to help entrepreneurs from underrepresented communities scale-up their businesses.
Financial health app VeraScore names Scott Waldron as new president
In his new role, Waldron will lead VeraScore’s business development and customer acquisition strategies.
Westpac New Zealand taps Finastra to accelerate ISO 20022 compliance
Finastra says its tech will enable the bank to leverage the benefits of ISO 20022’s data-rich MX messaging format.
Private credit marketplace platform Percent lands $29.7m Series B funding
Percent will use the funding to further develop its platform and propel its next phase of growth.
Core banking tech challenger Tuum appoints new CEO, eyes global expansion
Myles Bertrand was previously managing director, APAC, at Tuum’s rival, Mambu.
North East Small Finance Bank migrates to new core, Turing CBS from M2P
Turing CBS is understood to have replaced FIS’ Profile core banking system at NESFB.
Credit union North Carolina SECU selects NCR for digital banking upgrade
Using NCR Digital Banking, SECU will be able to upgrade its mobile and online banking capabilities.
Standard Chartered partners Worldpay from FIS to expand payment collections offering
With the partnership, the bank aims to expand the footprint of its solution across Asia and other markets.
Tilta taps Mambu to launch embedded purchase lending solution
Tilta’s infrastructure for e-commerce marketplaces allows them to earn a percentage of every transaction.
BKN301 Group taps Finastra for digital payments solution Essence
BKN301 Group’s long term strategy is to bring a BaaS payments solution to corporates in the MENA region.
Ripple acquires Metaco in $250m deal
Ripple’s CEO says the deal is “monumental for our growing product suite and expanding global footprint”.
Aussie banks launch new digital platform to stop fraudsters from receiving payments
In its trial phase, the platform cut down the time taken to resolve scam cases by more than half.
Open finance specialist Fabrick acquires UK paytech Judopay
Fabrick says the deal is “a major step forward in its internationalisation process and expansion in the UK”.
Zepz reportedly axing 420 jobs as firm looks to streamline operations
The cuts will fall largely on Zepz’s customer care and engineering teams, CNBC reports.
German insurtech Wefox secures additional $55m equity funding and $55m credit facility
The company raised the new funding at an unchanged valuation of $4.5 billion.
Norwegian paytech EedenBull names Eilin Schjetne as CEO
As CEO, Schjetne aims to scale the firm in a bid to make EedenBull Norway’s first fintech unicorn.
Binance set to withdraw from Canada citing new guidance
Binance says it is joining other “prominent” crypto businesses in “proactively withdrawing” from Canada.
Copper.co names Stephen Strickland as chief compliance officer
Strickland joins Copper from Elements Digital where he was chief compliance officer.
Accounting software firm Tipalti lands $150m growth financing
Tipalti says the financing will go toward investments in product development and customer support.
German challenger N26 to cut 71 jobs, around 4% of total workforce
N26 says the cuts are a result of the firm “sharpening its focus on its strategic priorities”.
Procurement fintech Zip secures $100m Series C funding at $1.5bn valuation
Founded in 2020, Zip helps companies streamline B2B purchasing and manage business spend.
