NerdWallet to cut workforce by 15% as part of restructuring plan to reduce operating expenses
The job cuts are expected to produce around $30 million in annualised cost savings.
Financial Results
News, intelligence and resources on the global fintech industry including topics such as financial results.
Global fintech investment fell by 19% in H1 2024, according to new Innovate Finance report
Total investment in fintechs worldwide amounted to $15.9bn in H1 2024, compared to $19.5bn in H2 2023.
FinTech Futures: Top five news stories of the week – 5 July 2024
Our pick of the top fintech news stories this week includes Revolut, BlackRock, Project Nexus and more.
Revolut announces record $545m profit for 2023
Revolut’s revenue surged by 95% over the year, from $1.1 billion in 2022 to $2.2 billion in 2023.
FinTech Futures: Top five news stories of the week – 14 June 2024
Our pick of the top fintech news stories this week includes Starling Bank, Mastercard, Bink and more.
Video: CD Valet at FinovateSpring 2024 – The future of CDs and the challenges in today’s deposit marketplace
Josh Williams of CD Valet discusses the challenges of building deposit portfolios faced by financial institutions.
Banking Technology Magazine May 2024 issue out now
Cover story: PLASTIC MEASURES – Banking must follow a more sustainable path.
Republic First Bank closed and sold to Fulton Bank by US regulators
Fulton Bank will “assume substantially all of the deposits and purchase substantially all of the assets” of the bank.
FinTech Futures: Top five news stories of the week – 19 April 2024
Our pick of the top fintech news stories this week includes Klarna, Ramp, Zopa and more.
Fintech funding shows signs of stalling in latest CB Insights report
The $7.3 billion raised this quarter marks the lowest figure recorded since the pandemic began in 2020.
New York Community Bancorp secures $1bn equity boost following Q4 2023 losses
NYCB has also made several high-profile appointments to its board of directors.
US neobank Dave achieves profitability over Q4 2023
In Q4 2023, the LA-based neobank generated a GAAP net income of $200,000 and EBITDA of $10 million.
Deadline extended for Banking Tech Awards USA nominations
You now have until Friday 23 February to get your nominations in.
Jack Dorsey’s Block lays off staff across Cash App, Square and foundational teams
The cuts are to be actioned with immediate effect, according to a staff memo from Dorsey.
Put yourself in the spotlight at this year’s Banking Tech Awards USA
Nominations for the 2024 awards are now open – apply today!
Save the date: The Banking Tech Awards celebrates its 25th anniversary on 4 December
Nominations for the 25th annual Banking Tech Awards will open this spring.
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.
FinTech Founders Video: rewind and fast forward
Fintech founders reflect on the past year and ponder how to move forwards.
Four new clients set to go live on Mbanq’s BaaS platform in Q4 as company reports strong growth
Mbanq says it will support the launch of four new digital banking services in the US by the end of the year.
Adyen shares tank following underwhelming H1 2023 results
The company attributed the performance to hiring costs and US competition.
US crypto exchange Coinbase expands into Canada
The move comes amid major regulatory enhancements for crypto set by the Canadian financial regulator.
US fintech Block set to close European payments app Verse
The move is part of Block’s plans to reduce brand spending.
Marqeta closes Australia office in bid to cut costs
Marqeta is undertaking “restructuring actions” in Q2 this year to reduce operating expenses.
Paytech titan Diebold Nixdorf set to file for Chapter 11 bankruptcy protection
The Ohio-based firm says the restructuring support agreement is expected to “significantly” reduce debt.
FinTech Futures: Top five stories of the week – 26 May 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
NCR names new chairman and CEO-designates as company separation gathers pace
Joseph Reece joins as chairman of the board with Tim Oliver and David Wilkinson named CEO-designates.
Banking Technology Magazine May 2023 issue out now
Cover story: EVERYTHING, EVERYWHERE… but is all at once the answer?
FinTech Futures: Top five stories of the week – 14 April 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
US challenger Varo Bank reportedly raising funds at reduced valuation
Fintech Business Weekly reports the firm is raising $50m at a $1.8bn valuation, a 28% decline in value.
FinTech Futures: Top five stories of the week – 3 March 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
BNPL giant Klarna posts £1bn loss for 2022
Despite the loss, the firm says it is edging towards profitability thanks to growth in its gross merchandise volume.
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.
Banking Technology Magazine February 2023 issue out now
Cover story: HAPPY DAZE – Banking for cannabis businesses boosted.
Payoneer names former Webster Bank exec Bea Ordonez as next CFO
Ordonez will assume the role of CFO once current CFO Michael Levine steps down in March.
LendingClub to cut 225 jobs as interest rate rises impact loan demand
Company execs say the layoffs are a result of “reduced marketplace revenue” due to interest rate increases.
Goldman Sachs loses $3bn over three years on platform solutions business
Reuters reports the firm outlined a pre-tax loss of $1.2bn for the first nine months of 2022.
Temenos in leadership shake-up as CEO and chairman step down
Under the new leadership, Temenos says it will focus on SaaS opportunities, including in the US.
Coinbase to cut 950 jobs and shut down several projects
Coinbase CEO and co-founder Brian Armstrong says he is “still optimistic about our future and the future of crypto”.
Silvergate reveals depleted deposits, significant layoffs, and impairment charges
Silvergate Capital’s share value dropped by over 40% in response to the financial results.
FinTech Futures: Top five stories of the week – 21 October 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
