FinTech Futures: Top five news stories of the week – 29 March 2024
Our pick of the top fintech news stories this week includes Robinhood, Mastercard, Visa, Ant Group and more.
Lending
Discover Financial Services exec Michael Rhodes to take the lead at Ally Financial as new CEO
Ally Financial has been on the hunt for a new CEO since the departure of Jeffrey Brown in January.
Risk management specialist Abrigo snaps up TPG Software for investment accounting tech
The acquisition will boost the growth of Abrigo’s existing suite of technical accounting solutions.
Two US fintechs to pay a total of $59m to settle FTC charges related to PPP
Biz2Credit will pay $33 million and Womply will pay $26 million to settle the two separate cases.
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.
Stax Payments founders launch business credit decisioning platform Worth AI
Sal Rehmetullah and Suneera Madhani will act as co-CEOs of the start-up, which is set to launch this month.
ICYMI fintech funding round-up: Tuum, DigiMaaya, Youverify, Trampay and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
FinTech Futures: Top five news stories of the week – 8 March 2024
Our pick of the top fintech news stories this week includes Fiserv, Monzo, Virgin Money and more.
CFPB to cap credit card late fees at $8 and increase accountability among issuers
The new limit is poised to save US consumers more than $14 billion a year.
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.
Cotribute tapped by Clearwater Credit Union to streamline digital account opening and loan origination processes
The partnership will see Clearwater leverage Cotribute’s consumer and business digital account opening modules.
Mexico’s Ziff acquires digital lending start-up Arrenda
The acquisition sees Ziff take control of the start-up’s flagship lending platform, Adelanta.
PayPal extends payment options for online SMEs with new solution
PayPal Complete Payments launches this week to online sellers in 22 markets worldwide.
Mexican microlending start-up Baubap secures $120m in debt financing
The fintech intends to leverage the debt financing to extend its lines of credit to the underserved.
Blackstone buys $1.1bn of US credit card debt from Barclays
Barclays says it will use the proceeds of the sale to fund an extension of its US lending activities.
Teachers Federal Credit Union partners Corridor Platforms for credit decisioning tech
The New York-based credit union has signed for Corridor Platforms’ digital decisioning platform.
FHLBank of Pittsburgh selects SimCorp Dimension for investment management
The bank has signed an eight-year agreement with the vendor for SimCorp Dimension.
US Bank partners Pagaya Technologies for inclusive lending with AI
The bank is to instate Pagaya’s AI tech within its Simple Loan function.
Deadline extended for Banking Tech Awards USA nominations
You now have until Friday 23 February to get your nominations in.
Oregon State Credit Union partners Bankjoy for account opening and loan solutions
The credit union has signed for the vendor’s online account opening and online loan application product suite.
ID Finance lands $150m debt financing headed by i80 Group
ID Finance claims the financing marks its “largest ever financing round” to date.
Raymond James Bank to deploy ICE Mortgage Technology’s lending solution Encompass
The software will support the origination of mortgages for high-net-worth borrowers.
ICYMI fintech funding round-up: Kafene, General Index, Mesh and Netcetera
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Mexican banking heavyweight Banorte taps SAP Fioneer to launch digital bank Bineo
The app-based offering launched this week with account and lending services.
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.
What the FinTech? | S.5 Episode 1 | The growth of fintech in Africa
In this episode of the podcast, we’re joined by Hangwi Muambadzi, Principal and Head of Africa at CommerzVentures.
YouLend secures £4bn private securitisation deal with JP Morgan
The deal will enable YouLend to provide additional revenue-based financing to SMEs.
BNPL lender Sunbit secures $310m debt facility with Citi and Ares Management Credit
The LA-based fintech says it will use the facility to attract and retain more customers.
Bilt Rewards more than doubles its billion-dollar valuation with new $200m equity investment
Bilt Rewards was previously valued at $1.5 billion following a $150 million funding round back in 2022.
US fintech Kashable raises $25.6m Series B funding
Californian venture capital firms Revolution Ventures and Moneta Ventures led the round.
Ally Financial sells POS financing business to Synchrony
Synchrony says the acquisition will also include $2.2 billion in loan receivables.
SME lender FundPark doubles credit facility with Goldman Sachs to $500m
The $250m expansion builds on an earlier $250m ABS facility secured by the fintech in April 2022.
US private equity firm WCAS buys majority stake in EquiLend
WCAS will also commit $200 million to fuel the future growth of EquiLend.
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.
Real estate fintech start-up Downpayments launches in Florida with $32.8m in debt and equity funding
The start-up seeks to provide property investors with interest-free down payments on their next home purchase.
New Year’s resolutions
We are uniquely placed to influence the application of tech and maturation of regulation. Go out there and do good.
2023: Top five funding rounds of the year
Capping off 2023, we take a look back at five of the top fundraising rounds of this year.
FinTech Futures: Top five stories of the week – 22 December 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Instant payments, BaaS and GenAI: A fintech industry review of 2023
FinTech Futures takes a look back at the key industry developments and trends to emerge over 2023.
CSI snaps up partner Hawthorn River for single-platform loan origination system
CSI initially struck a partnership with Hawthorn River in October to utilise its tech.
