LSEG announces Irfan Hussain as its new chief information officer
Irfan Hussain joins LSEG from Goldman Sachs, where he has worked since 1995.
Digital
Microsoft partners Aptos Labs to help connect financial service companies to the Web3 ecosystem
The duo will explore new innovations in areas such as asset tokenisation, CBDCs and payment technology.
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.
Naga integrates Rezolve AI into its social trading platform
The integration is also set to extend to Naga’s e-payments solution, Naga Pay.
US fintech Block set to close European payments app Verse
The move is part of Block’s plans to reduce brand spending.
SumUp secures $100m credit facility to expand merchant cash advance product
The facility is being provided by Chicago-based investment firm Victory Park Capital.
PayPal launches US dollar stablecoin PayPal USD
Rolling out in the coming weeks, PayPal USD will be available to purchase for eligible US PayPal customers.
MarketAxess acquires Pragma to leverage quantitative trading technology
MarketAxess aims to accelerate the development of quantitative execution algorithms for fixed-income products.
Webinar | 28 September 2023: Revolutionising SME financing – how Banca AideXa uses AI decisioning platform & open banking
Learn what tools and tech enable Banca AideXa to provide quick and efficient loans to SMEs.
Private debt platform Cordada taps Thought Machine for core banking tech
The Chilean firm will use Thought Machine’s Vault Core to develop personalised financial products.
State of play: 2023 so far
What’s the current state of play for the financial services sector and what can we expect for the remainder of 2023?
Revolut halts crypto services in the US citing “evolving regulatory environment”
From 3 October, access to crypto through Revolut will be fully disabled for US customers.
US insurtech start-up Lula raises $35.5m Series B funding
The insurtech previously raised $18 million in its Series A funding round of July 2021.
Stripe appoints Steffan Tomlinson as CFO
Tomlinson, who joins from Confluent, brings more than 25 years of experience to his new role.
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”.
Banking veteran Paco Ybarra to depart Citigroup after 36 years
He has served as CEO of Citigroup’s institutional clients group since 2019 having joined the firm in 1987.
Credit card fintech Petal secures $200m debt facility from Victory Park Capital
In addition, the company has also raised $20 million in new equity financing from its existing investors.
MSUFCU partners Nymbus for SMB “bank in a box” solution
MSUFCU previously participated in Nymbus’ $70 million Series D funding round in May.
Liquidity management – the rise of the virtual account
Virtual accounts have now gained an amount of traction, with lots of discussion and successful case studies.
FinTech Futures: Top five stories of the week – 4 August 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
ICYMI fintech funding round-up: Pockit, Orbital, Traction & more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Payoneer acquires AI-powered data platform Spott to streamline decision-making
Payoneer says the start-up’s tech will help it to “better understand and serve customers”.
Over $10bn deposited into Apple Card’s savings account in first four months of going live
The offering had already accumulated $1 billion in deposits within the first week of going live.
European Commission brings in Moody’s Analytics to help fight fraud
Moody’s Analytics’ Orbis database is set to strengthen the European Commission’s anti-fraud efforts.
First Federal Savings & Loan of San Rafael boosts digital transformation with Bankjoy partnership
First Federal will integrate Bankjoy’s digital banking platform with Fiserv Cleartouch, its core banking system.
FinTech Futures Jobs: Three ways AI is changing fintech jobs
Explore thousands of open roles on the FinTech Futures Job Board today.
The transformative impact of AI and its implications on the future workforce
The AI revolution is well and truly underway. But what does it mean for the future of workers?
WaterStone Bank taps nCino for cloud banking platform
The bank says it wants to enhance the lending experience for its customers by moving to a single platform.
Automotive lending platform GoFi taps Provenir for credit risk decisioning
The Texas-headquartered company has implemented Provenir’s Data and Decisioning Platform.
Novo secures $125m credit facility to provide working capital to small businesses through Novo Funding
Once approved, small businesses will have instant access to up to $75,000 of working capital.
Stax Payments appoints Paulette Rowe as new CEO
In her new role, Rowe will be leading growth and operations for Stax’s software and payments portfolio.
Seacoast Bank strikes deal with NCR for ATM-as-a-Service solution
Seacoast Bank is leveraging NCR’s ATM-as-a-Service solution to replace its conventional ATM fleet.
Cash management – trends and priorities
While real-time data remains an ideal, the cash management process needs first to adapt to expanded ecosystems and networks.
HSBC joins forces with Tradeshift to launch embedded finance business
The joint venture will focus on the development of embedded finance solutions and financial services apps.
GoLogiq to acquire Vietnamese fintech Symplefy for $30m
GoLogiq’s executive chairman Brent Suen says the acquisition “is the next of several in our pipeline”.
Vestwell taps workplace financial wellness with Gradifi Solutions acquisition
Vestwell acquires Gradifi Solutions from Morgan Stanley, following its acquisition of E*TRADE Financial.
Machias Savings Bank taps Jack Henry for tech overhaul
It wanted a tech strategy that would help it support customers’ financial needs, while competing with big banks.
Challenging funding environment pushes LedgerEdge into administration
David Robert Baxendale and Edward John Macnamara have been appointed as joint administrators.
US fintech Rocket Companies appoints Varun Krishna as new CEO
Rocket Companies also revealed that president and COO Bob Walters is to retire after 27 years with the firm.
Global fintech funding drops 17% to $52.4bn in first half of 2023
Fintech investment fell in EMEA and APAC, while the US took the lion’s share of global funding.
