Banking Technology Magazine November 2024 issue out now
Cover story: GOING GREEN – Why sustainable finance is vital.
Job Cuts
News, intelligence and resources on the global fintech industry including topics such as job cuts.
US fintech start-up CapWay shuts down
Founder Sheena Allen announced on LinkedIn that the start-up “is no longer an active business”.
LendingClub and Pagaya acquire intellectual property of shuttered fintech Tally
Tally closed in August, citing insufficient funding as the primary reason for its shutdown.
Banking Technology Magazine October 2024 issue out now
Cover story: QUANTUM LEAP OF FAITH – Preparing for the advent of Q-Day.
Canadian fintech start-up Hardbacon closes down
Co-founder and CEO Julien Brault writes that the fintech’s operations are now suspended.
US identity verification start-up IDPartner Systems to shut down
IDPartner Systems closes after three years in business.
FinTech Futures: Top five news stories of the week – 23 August 2024
Our pick of the top fintech news stories this week includes HSBC, Klarna, Mastercard and more.
Mastercard set to lay off around 3% of global workforce
A Mastercard spokesperson says the majority of the impacted employees will be notified in Q3 2024.
Pre-seed fintech investor Techstars cuts global workforce by 17%
Techstars CEO David Cohen says the firm “overbuilt and over hired to support our ambition to scale”.
FinTech Futures: Top five news stories of the week – 9 August 2024
Our pick of the top fintech news stories this week includes NCR Voyix, CIBC, Société Générale and more.
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.
Intuit to cut 10% of workforce amid plans to boost investment in “key growth areas” such as AI
Intuit plans to hire 1,800 new workers to support the firm’s aim to capitalise on the “AI revolution”.
Canadian credit union Vancity lays off 7% of workforce
The cuts, actioned by president and CEO Wellington Holbrook, have resulted in the loss of almost 200 positions.
BaaS fintech Unit to reduce workforce by 15%
The cuts are in response to “slower than expected revenue growth”.
Blockchain infrastructure platform Paxos to reportedly cut 20% of workforce
Paxos currently claims a balance sheet of $500 million.
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.
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.
TabaPay to acquire assets of struggling BaaS fintech Synapse
Synapse previously filed for Chapter 11 voluntary bankruptcy and laid off over 50% of its workforce last year.
Banking Technology Magazine March 2024 issue out now
Cover story: CREATIVE THINKING – How a borefest could lead to the best ideas.
Treasury Prime trims workforce amid strategic pivot to focus on direct-to-bank partnerships
The pivot comes a year after the firm completed a $40 million Series C fundraising round.
FinTech Futures: Top five news stories of the week – 23 February 2024
Our pick of the top fintech news stories this week includes Capital One, Toast, Xalts and more.
US hospitality fintech Toast to cut 550 jobs as part of restructuring plan
The fintech says the restructuring plan is intended to “promote overall operating expense efficiency”.
FinTech Futures: Top five news stories of the week – 9 February 2024
Our pick of the top fintech news stories this week includes Worldline, Deutsche Bank, Barclays and more.
Banking Technology Magazine February 2024 issue out now
Cover story: PLANT LIFE – Talking flora and quantum computing.
FinTech Futures: Top five news stories of the week – 2 February 2024
Our pick of the top fintech news stories this week includes Lloyds, HSBC, PayPal, Santander and more.
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.
PayPal to trim workforce by 9% over 2024 in bid to streamline business
PayPal president and CEO Alex Chriss says the cuts aim to “reduce complexity and duplication”.
FinTech Futures: Top five news stories of the week – 26 January 2024
Our pick of the top fintech news stories this week includes Abrdn, Kashable, Synchrony and more.
US fintech Brex to axe 20% of workforce
The cuts are part of an organisational restructure, with founder Pedro Franceschi saying the firm grew too quickly.
FinTech Futures: Top five news stories of the week – 19 January 2024
Our pick of the top fintech news stories this week includes Citi, Sainsbury’s Bank and more.
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.
2023: A year of fintech job cuts
FinTech Futures takes a look back at a bruising year of job cuts in fintech.
FinTech Futures: Top five stories of the week – 1 December 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
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.
US fintech Carta reportedly conducts third round of layoffs this year
The cuts were first reported by Fortune, but the total number of employees impacted is currently unknown.
FinTech Futures: Top five stories of the week – 13 October 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
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.
FinTech Futures: Top five stories of the week – 14 July 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Payoneer becomes latest fintech to cut jobs
The US payments platform is to cut 9% of its workforce by Q3 2023.
FinTech Futures: Top five stories of the week – 30 June 2023
Featuring Orange Bank, Visa, Pismo, Robinhood, and more.
