Mambu to power Canada’s Brunswick Credit Union amid MV Solar UK launch
The credit union’s implementation of Mambu in Canada arrives in tandem with the UK launch of MV Solar.
Lending
FINRA fines SoFi $1.1m after consumer identification flaws led to multi-million dollar heist
SoFi Money – the unit targeted by fraudsters – was ultimately closed by the fintech in June 2022.
Libro Credit Union to transition to nCino’s cloud banking platform
The platform will support Libro with loan origination, customer onboarding and deposit account opening.
ICYMI fintech funding round-up: Backflip, Ansa, Salmon, Firenze and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Barclays reportedly leading the race to take over GM credit card programme from Goldman Sachs
Barclays was a bidder for the programme back in 2020 before Capital One eventually sold it to Goldman.
Digital lending platform Blend Labs bags $150m funding from Haveli Investments
Blend will use the cash to repay “all amounts payable” under its existing credit agreement.
State of play: the future of credit
Alternative data sources will be key to ensuring the future of credit is affordable, inclusive, and accessible.
UK online SME lender Capify bags £100m credit facility
The new facility from Pollen Street Capital will support the lender’s future growth plans.
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.
UK property lender Together taps nCino for cloud banking solution
Together claims to have a loan book exceeding £6.8 billion, originating over £200 million in loans monthly.
British Caribbean Bank triggers core banking overhaul with Finastra
The lender has opted to transition its core to the vendor’s Fusion Essence solution.
ICYMI fintech funding round-up: Toku, Tabs, Kamina, Lemon 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 – 19 April 2024
Our pick of the top fintech news stories this week includes Klarna, Ramp, Zopa and more.
Klarna to launch credit card offering in the US “over the next few months”
The US is set to be Klarna Card’s fourth market of entry, following earlier launches in Sweden, Germany and the UK.
United Bank in Alabama taps Jack Henry for digital upgrade
The bank is to adopt the vendor’s LoanVantage solution and Banno Digital Platform.
Empower Finance strikes deal to buy Petal with Cashalo acquisition completed
The deal for Petal is expected to close later this quarter for an undisclosed sum.
Busey Bank launches commercial credit cards with Corserv
The bank is delivering the cards using Corserv’s account issuer programme.
ICYMI fintech funding round-up: Zeepay, Coadjute, Hello Alice, CertifID 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 – 29 March 2024
Our pick of the top fintech news stories this week includes Robinhood, Mastercard, Visa, Ant Group and more.
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.
