Mexican fintech start-up Trafalgar taps Thought Machine for core banking technology
Trafalagar plans to launch its new platform, running on Vault Core, in Q2 2024.
Cards
US credit card fintech Petal reportedly eyeing potential sale
According to a report by Fortune, sources say the start-up has received multiple offers for acquisition.
US challenger HMBradley winds down consumer business, eyes B2B space
“Our consumer brand growth was falling short of our goals,” says HMBradley CEO and co-founder Zach Brunke.
Lack of funding forces US credit card fintech Ness to close down
Having raised $15.5 million in seed funding, the fintech had hoped to raise an additional $40 million but to no avail.
Dutch payment processor Silverflow lands $16.3m funding
Picus Capital, Coatue, Crane Venture Partners, Inkef, and a number of angel investors also participated in the round.
US digital bank Green Dot appoints SVP Dave Harden as new CTO
Harden has served as the bank’s SVP of product development since February 2022.
Lynx raises £15m Series A funding to fight fraud and financial crime
Created 20 years ago, Lynx leverages AI and machine learning to detect and prevent financial crime.
Co-branded credit card fintech Imprint lands $75m in Series B funding
The round was led by Ribbit Capital with participation from existing investors Kleiner Perkins and Thrive Capital.
Goldman Sachs reportedly seeks new issuer for General Motors credit card
Goldman Sachs bought the GM credit card business for $2.5 billion in October 2020.
Kash Baghaei joins expense management platform Jeeves as chief product officer
With 20 years of experience in engineering and product management, Baghaei joins Jeeves from Early Warning.
Video: Mastercard at Money20/20 USA 2023 – Fintech partnerships and sustainable growth models
We chat with Mastercard’s Tim Montgomery and Hania Faridi about the company’s approach to fintech partnerships.
Nominations now open for the seventh annual PayTech Awards
Submit your nominations before 15 March 2024.
The US Federal Reserve proposes new single cap on interchange fees
Reserve board member and governor Michelle Bowman has opposed the revised cap.
Early Warning’s digital wallet offering Paze readies for launch as the US’ biggest banks look to fend off Big Tech
Paze MD James Anderson chats with FinTech Futures about the fintech’s upcoming product launch.
US Bank subsidiary Elavon lands UK banking authorisation
With the licence, Elavon intends to offer authorisation, settlement, card machines, and banking services in the UK.
US Federal Reserve Board slaps $14.5m fine on Metropolitan Commercial Bank
The Board alleges that the bank violated customer identification rules.
Former JP Morgan exec Jeremy Balkin’s new venture TodayPay launches from stealth
TodayPay’s solution aims to help merchants provide “instant” refunds to their customers.
Citi taps Navan to launch travel and expense system for commercial clients
The new system will initially only be available to US-based commercial clients.
US payments start-up Braid winds down operations
The start-up offered a multi-user financial account where consumers could pool their money and make payments.
UK’s FCA orders electronic money issuer Nvayo to suspend operations
Nvayo says that it “is working with the FCA to resolve their concerns and hope to find a solution”.
American Express to pilot biometrics for online transactions
The biometrics have been developed by the FIDO Alliance and the World Wide Web Consortium.
US fintech PayZen launches new product to boost healthcare affordability
With the Care Card, patients can access PayZen’s post-service payment plans through a physical and virtual debit card.
Experian launches digital checking account and debit card for US consumers
With sign-up taking “minutes”, Experian’s new feature allows consumers to “streamline” their financial experience.
Sibos 2023: HSBC launches new virtual card and digital trade finance solution
The UK banking giant has also announced the launch of HSBC TradePay, a document-free digital trade finance solution.
Flex secures $20m in equity and $100m in debt funding as part of Series A round
Along with the funding, Flex has also launched its finance app catering to underserved small business owners.
Recharge taps gaming payments with Startselect acquisition
Recharge plans to close two to three more acquisition deals in the next 12 months.
US fintech Ampla secures $258m credit facility with Goldman Sachs and Atalaya
Ampla connects consumer brands with embedded banking, bill pay, growth capital and corporate card solutions.
US Bank and subsidiary Elavon launch new POS solution for small businesses
The solution seeks to help small business owners avoid making a “large upfront investment”.
Payments giant Mastercard to end crypto card partnership with Binance
As of 22 September, Mastercard will be ending its four pilot co-branded Binance card programmes.
BMO Commercial Bank taps Extend to launch corporate spend management app
BMO is the first global Mastercard issuer to offer contactless virtual cards through Extend.
Chilean digital bank Tenpo partners Dock for new credit card offering
The offering positions Tenpo as a competitor to traditional financial lenders in the country.
Peoples Bank taps Corserv to launch credit card programme
With Corserv, Peoples Bank will be able to offer 14 different credit card products to its business and retail customers.
ICYMI fintech funding round-up: Communion, CityPay & more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Mexican challenger Klar lands $100m debt facility to expand credit product offerings
The new facility has been provided by US investment firm Victory Park Capital.
New digital bank for the US military Roger launches
Roger was built in partnership with banking technology solutions provider Nymbus.
ICYMI fintech funding round-up: Chargeflow, Knot, Treasure Financial & more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Torpago confirms two new senior hires following “significant growth”
James Yacobucci has been appointed to head of bank partnerships and Noah Martin to head of capital markets.
US fintech Greenlight launches credit builder tool for teenagers
Greenlight says parents can add their teenagers as authorised users of its credit card to start building credit.
SumUp secures $100m credit facility to expand merchant cash advance product
The facility is being provided by Chicago-based investment firm Victory Park Capital.
Mexican challenger Albo snaps up Delt.ai for $20m
The acquisition makes Albo “the only neobank to offer debit and credit products for both consumers and SMBs”.
