Copal launches Egypt’s first family payments app with Mastercard
Copal aims to provide a “seamless and innovative” cashless payments experience for all family members.
News
Climate tech firm Doconomy acquires financial wellbeing fintech Dreams
Doconomy will fold Dreams’ behavioural science platform into its environmental impact measurement tools.
Westpac pens five-year cloud deal with AWS to boost digital transformation
Westpac aims to leverage AWS’ tech to accelerate its digital transformation.
Banking Technology Magazine March 2023 issue out now
Cover story: FACE OFF – Confrontation can be a good thing.
Nexi to acquire 80% of Sabadell’s merchant acquiring business for €280m
The all-cash deal worth €280 million values the business at €350 million.
US paytech Pagos lands $34m in Series A funding
With the funds, Pagos plans to expand its engineering team and develop its product suite.
Remitly to wind down digital banking app Passbook
All Passbook accounts will be closed on 1 May 2023.
Trade financing platform Marco lands $200m credit facility, $8m equity
Marco says the combined funding will support its ambition to “close the $2 trillion global trade finance gap”.
Business spend management firm Medius names Henrik Rosén as CTO
Rosén will be tasked with further developing Medius’ existing product suite as well as delivering new products.
What the FinTech? | S.4 Episode 3 | Generative AI in banking
In this episode, we’re joined by Miguel Navarro to discuss how generative AI could impact financial services.
US fintech Finch lands $40m in Series B funding
The round was co-led by General Catalyst and Menlo Ventures.
Shanghai Commercial Bank taps Salt Edge for PSD2 compliance solution
With the partnership, the bank says it will be able to offer customers a secure connection to external apps.
MoonPay names former Coinbase exec Asiff Hirji as new president
According to Bloomberg, Hirji assumed the role earlier this month, joining from Figure Technologies.
Panamax expands global reach with Acute Informatics acquisition
Panamax’s CEO says the acquisition of India-based Acute is a “strategic move to expand our horizons”.
Wells Fargo launches digital financial planning platform LifeSync
LifeSync, available from March, will sit within the Wells Fargo mobile app.
Swiss fintech Radicant parts ways with CEO Anders Bally
The fintech’s board dismissed Bally over differences in approach to “leadership and communications”.
Klarna to start charging late payment fees in UK
Late-paying users will be hit with a £5 fee from 16 March, City AM reports.
Indian telecom firm Airtel’s merger talks with Paytm reportedly fall through
Sources tell CNBC-TV18 that Paytm didn’t want to give up management control.
Varo Bank appoints Wook Chung as chief product officer
Chung most recently served as vice president of product, design and engineering at SoFi.
Shawbrook Bank taps Pegasystems for automated underwriting solution
Pega claims its low-code platform will save Shawbrook underwriters 1,500 hours a month.
Global paytech GPS appoints three new non-exec directors
The new additions are: Paulette Rowe, Shane Happach and Lynn McCreary.
FinTech Futures: Top five stories of the week – 24 February 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Santander Bank picks SigFig to modernise client investment experience
Via the partnership, the pair have developed Santander PathFinder, an automated investment management tool.
Wells Fargo lays off hundreds of its mortgage bankers
The job cuts were made in response to “significant decreases” in mortgage volumes, Wells Fargo says.
Euronext in €5.5bn takeover bid for wealthtech Allfunds
Euronext has submitted an “indicative offer” to Allfunds’ board of directors.
RTGS.global CEO Dave Sissens steps down, Jarrad Hubble appointed interim CEO
Hubble joined RTGS in April last year as its chief commercial officer.
US president Joe Biden nominates former Mastercard CEO to lead World Bank
Ajay Banga has been nominated to lead the World Bank following the resignation of David Malpass.
Clarency taps Form3 for access to Swift network
With the partnership, Clarency’s global customers will be able to send and receive payments on the Swift network.
ICYMI fintech funding round-up: Siren, DirectID, Gimo & HedgeFlows
A handy round-up of this week’s fintech funding news from across the world.
American Fintech Council appoints Phil Goldfeder as CEO
Goldfeder brings more than two decades of experience working in the private and public sectors.
Property analytics firm CoreLogic acquires mortgage tech platform Roostify
The acquisition will see CoreLogic integrate Roostify’s platform with its own data, analytics and workflow solution.
Visa and Mastercard reportedly facing multibillion-pound card fee suit
According to Sky News, the claim could be worth well over £10 billion.
Arvest Bank launches new lending product powered by Thought Machine
Arvest claims it is the first US bank to offer lending capabilities on Thought Machine’s core.
Canada’s securities regulator tightens rules for crypto exchanges
The CSA has laid out enhanced investor protection commitments it expects from exchanges operating in Canada.
OpenWallet Foundation launches to boost digital wallet interoperability
The OWF intends to provide the “software engine” that organisations can use to develop digital wallets.
Stripe unveils Tap to Pay for Android devices
Tap to Pay allows businesses to accept contactless payments using an NFC-enabled Android device.
Co-operative Bank reportedly eyeing Sainsbury’s Bank’s £650m mortgage book
The Co-operative Bank is the frontrunner amid a bidding war being run by consultancy Deloitte, Sky News reports.
KCB Bank Kenya taps Sopra Banking Software for digital transformation
Sopra Banking Software will design, build and support the bank’s savings and lending products.
Enfuce wins State Treasury of Finland contract to modernise prepaid cards
The five-year contract was signed on 15 February 2023.
Banesco USA taps AML RightSource for automated due diligence solution
Banesco will deploy AML RightSource’s Automated EDD (Enhance Due Diligence) solution.
