FinTech Futures: Top five news stories of the week – 7 June 2024
Our pick of the top fintech news stories this week includes Visa, Monzo, JP Morgan Payments, Funding Circle and more.
Corporate & Commercial Banking
ICYMI fintech funding round-up: Landytech, Frich Money, Swiipr and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
From castles to banking ecosystems: the continuous evolution of banking software
The history of banking software is driven by the march of technology and ever-changing customer demands.
Business banking start-up Relay raises $32.2m in Bain Capital Ventures-led Series B
The Relay platform is designed to “help small businesses take control of their cash flow”.
Comerica Bank & Trust reaches formal agreement with US OCC over enforcement action
The OCC has ordered the bank to create a compliance committee as part of the action.
Rich Data Co inks first US deal for AI decisioning platform with M&T Bank
North America’s sixth-largest commercial bank has tapped the platform to “detect more early warning signs” in lending.
FinovateSpring 2024: Rethinking customer experience and boosting diversity in financial services
FinovateSpring 2024 concluded on Thursday after a day filled with thought-provoking panels and keynotes.
Avidbank partners Corserv to launch commercial credit card programme
The bank will utilise Corserv’s Account Issuer solution to power its new credit card offering.
JP Morgan Chase to pay additional $100m penalty to US regulator over trade surveillance data gaps
The bank was previously hit with a $348 million fine from the OCC and FRB in March.
Celebrating 25 years of innovation: Banking Tech Awards 2024 nominations now open
Nominations for the Banking Tech Awards 2024 are now officially open to companies worldwide!
White paper: Redefining banking for the digital future
Learn how to harness digital-first, on-demand banking to increase bottom lines.
OakNorth launches SMB commercial cards with Marqeta platform
The new offering will also include deposit accounts and automation tools for bill payments.
EverBank strikes two new deals to digitise commercial banking and payment processing systems
The US-based bank has partnered with Backbase and banking and payments fintech Finzly.
United Bank in Alabama taps Jack Henry for digital upgrade
The bank is to adopt the vendor’s LoanVantage solution and Banno Digital Platform.
Busey Bank launches commercial credit cards with Corserv
The bank is delivering the cards using Corserv’s account issuer programme.
Former Goldman Sachs director Swati Bhatia joins Santander Bank as head of retail banking and transformation
Bhatia counts the likes of Stripe, PayPal and Capital One among her previous employers.
Finalists announced for Banking Tech Awards USA 2024
Winners of this year’s awards will be announced at a gala dinner ceremony in New York on 30 May.
Cloud banking tech provider nCino acquires DocFox to streamline account opening
DocFox provides account opening software built to help simplify the customer onboarding process.
JP Morgan Chase hit with $348m in fines related to its trade surveillance programme
The fines were issued by the the Office of the Comptroller of the Currency and the US Federal Reserve.
Citi names former JP Morgan exec Viswas Raghavan as new head of banking
Raghavan is due to take charge of the group’s investment, corporate and commercial banking unit.
FHLBank of Pittsburgh selects SimCorp Dimension for investment management
The bank has signed an eight-year agreement with the vendor for SimCorp Dimension.
Capital One acquires Discover Financial Services in $35bn deal
The transaction brings together two of the largest card issuers in the US.
US-based Primary Bank appoints Crystal Dionne as new CEO
Dionne first joined the bank eight years ago and has spent the last six years as its CFO.
Deadline extended for Banking Tech Awards USA nominations
You now have until Friday 23 February to get your nominations in.
Germany’s Commerzbank taps Surecomp to revamp trade finance back office
The Frankfurt-based commercial bank has adopted the vendor’s DOKA-NG solution.
RBC’s US subsidiary City National Bank hit with $65m fine from OCC
The OCC says the fine relates to “systemic deficiencies” in the bank’s risk management and internal controls.
B2B finance automation platform Ramp acquires Venue to revamp procurement product
The value of the Venue acquisition has not been disclosed.
Southern California Bancorp and California BanCorp trigger $233.6m “true merger of equals”
The holding companies currently control Bank of Southern California and California Bank of Commerce.
Webinar | 5 March 2024 | Banking in 2024: The key digital transformation trends shaping the industry
Join this free webinar to learn more about the tech trends shaping the banking industry in 2024.
Oracle strikes deal with Slovenia’s SID Bank for core banking and payments technology
The bank will utilise Oracle’s core banking, payments, trade finance, treasury and corporate lending applications.
Colorado’s Elevations Credit Union partners Alkami for digital banking platform
The credit union hopes Alkami’s digital platform will help it grow its retail and business portfolio.
Put yourself in the spotlight at this year’s Banking Tech Awards USA
Nominations for the 2024 awards are now open – apply today!
Citigroup to cut 20,000 jobs over two years after Q4 downturn
The bank is anticipating run rate savings of $2 billion as a result of the cuts.
Commerzbank forms joint venture with Global Payments for SME payment solutions
The new joint venture, Commerz Globalpay, is expected to launch in H1 2024 and will be based in Frankfurt.
JP Morgan Chase-owned WePay reportedly offboards a number of business clients
JP Morgan Chase bought WePay back in 2017 in a $400 million deal in a push to compete with Stripe.
Zimbabwe’s Success Microfinance Bank taps FinOS for core banking
The bank has partnered with FinOS to access its composable banking capabilities and increase operating ability.
JP Morgan and Viva Wallet reportedly collide over board appointments
JP Morgan acquired a 48.5% stake in Viva Wallet in December 2022 for $800 million.
2023: Top five fintech start-ups of the year
Here are five of the top fintech start-up stories from 2023.
Credit Union of Texas taps Alkami for business banking platform
Eric Pointer, president and CEO of CUTX, says the partnership will enable it to serve an untapped market.
FinTech Futures: Top five stories of the week – 15 December 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
