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.
Business-to-Business/B2B
Brookfield appoints Ron Kalifa as vice chair and head of financial infrastructure
Brookfield says Kalifa’s appointment allows it to “increase our footprint” in the payments arena.
UK paytech Thredd appoints Jim McCarthy as new CEO
McCarthy joined Thredd in January this year as executive vice president – global head of product and sales.
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.
UK lendtech Uncapped lands £200m debt facility as it eyes international expansion
With the new facility, Uncapped aims to expand its reach and provide more digital businesses with access to financing.
Generali Investments’ holding company taps Fenergo for AML compliance
Through the partnership, Generali Investments Holding will utilise Fenergo’s client lifecycle management solution.
Open banking fintech Plaid names Eric Hart as first chief financial officer
Hart joins Plaid from Expedia where he served for more than 13 years, most recently as CFO.
US regional bank United Community partners Allied Payment Network for real-time payments
The South Carolina-based bank is to integrate Allied’s RTP solutions into its Q2 digital banking platform.
Canada’s Procurify lands $50m in Series C funding round
The round was led by Ten Coves Capital and brings Procurify’s total equity funding to more than $70m to date.
Ally Financial CEO Jeffrey Brown to step down
Brown is due to depart the Michigan-based online bank on 31 January 2024.
Puerto Rico’s Arival Bank names Nishi Gupta as chief compliance officer and general counsel
Gupta joins Arival Bank from US-based consumer fintech company Eco, where he served as head of compliance.
ICYMI fintech funding round-up: Untangled Finance, Kennek and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Republic Bank of Arizona taps Biz2X for business lending platform
The bank wants to “make it easy for Arizona businesses to get the capital they require for growth”.
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”.
BaaS fintech Synapse lays off 40% of staff in fresh round of job cuts
In a statement, Synapse says it has “a strong group in place” to manage its operations and customers.
Kazakhstan fintech Freedom reportedly under investigation by SEC, DOJ
According to documents seen by CNBC, the SEC’s Boston office has been investigating Freedom for months.
Banc of California joins Rise Economy for $4.1bn community benefits plan
The plan succeeds the bank’s merger with PacWest Bancorp in July, combining assets valued at $36.1 billion.
UK fintech ieDigital acquires CUSO Connect FSS to tap US market
The two companies will become part of the new ieDigital Group, but will, at this time, retain their separate brands in their respective markets
ICYMI fintech funding round-up: Mantle, SaaScada, Rainforest and more
Our weekly fintech round-up for you to get the latest funding news from around the world.
FinTech Futures: Top five stories of the week – 6 October 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
National Australia Bank taps US fintech Trovata to launch new treasury solution
The bank’s venture capital fund previously participated in Trovata’s $27 million Series B in June 2022.
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.
Stitch raises $25m in Ribbit Capital-led Series A extension
PayPal Ventures, CRE Venture Capital and The Raba Partnership also participated.
Visa to invest $100m in GenAI firms focused on commerce and payments
The initiative will be led by Visa Ventures, the global payment giant’s corporate investment arm.
Visa taps US security operations provider Expel for MDR capabilities
Expel’s managed detection and response (MDR) solution claims to reduce alert-to-response times “to minutes”.
UBS taps Broadridge for sponsored repo solution
The bank is to integrate its newly-digitised trade flows into its DLR tech stack on Broadridge’s platform.
Tap Global sets up US expansion through Zero Hash partnership
The UK-based cryptocurrency app intends to complete its US expansion by Q4 2023.
Mexican neobank Albo raises $40m in Series C funding round
The round also saw participation from existing investors Valar Ventures and Nazca Ventures.
AlphaSense lands $150m Series E funding at $2.5bn valuation
The latest fundraise comes months after AlphaSense secured $100m in Series D funding led by Alphabet’s CapitalG.
ICYMI fintech funding round-up: Mundi, Revio, Pontoro and more
Our weekly fintech round-up for you to get the latest funding news from around the world.
FinTech Futures: Top five stories of the week – 29 September 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Wealth management firm Farther more than doubles valuation following $31m Series B
The New York-based firm intends to invest the funding into its wealth management portal and talent.
Codebase partners Network International to launch BaaS solution in the Levant
The partnership intends to accelerate the pace of digital banking transformation throughout the Levant region.
DigitalAPICraft signs as Google Cloud vendor and appoints Marco Tedone as CTO
Marco Tedone, the firm’s new CTO, spent almost 12 years leading API strategy for HSBC.
UK fintech Traydstream lands $21m in Series B funding round
With the new funding, Traydstream plans to double down on its growth and enhance its AI-led platform.
PortX raises $16.5m in Series B funding round
The investment follows one year after PortX raised $10 million in its Series A funding round.
B2B payments platform Slope secures $30m funding to build out AI tools
Slope plans to leverage new investor Sam Altman’s “extensive” AI experience to scale its platform.
US Treasury Department enlists JP Morgan for account validation services
The department claims to have suffered $247 billion in financial losses last year due to “improper payments”.
Standard Chartered strikes corporate multibank connectivity through Starfish Digital partnership
The bank’s new service seeks to benefit its corporate clients’ inter-bank connectivity and cash management processes.
Switch2Zero appoints Galileo CEO Derek White as chairman
White is currently serving as CEO at Galileo Financial Technologies, a US-based payments and banking platform.
