Sibos 2022: “Skyscanner for money” – money as subscription service
In the future, we’ll all have our own “Skyscanner for money” working for us, believes VC Innovations’ Lisa Moyle.
Savings
White paper: Digital banking – why is it becoming so important to financial organisations?
Fintechs are showing significant growth – learn how banks can stay competitive and efficient.
Timberland Bank taps Plinqit for financial wellness and savings tools
Customers can now access digital tools designed to improve financial literacy and establish saving habits.
Rabobank selects US fintech InvestCloud for financial planning tools
Goal-based financial planning features will be made available to Rabobank’s customers.
How Zolve is helping US immigrants land on their feet
Zolve helps immigrants accelerate their financial health through products that build wealth in the long run.
Gen Z financial assistant app Cleo raises $80m at $500m valuation
Cleo will use the funds to shore up and expand its services as a global economic winter begins to bite.
Canadian wealthtech Wealthsimple sheds 12.6% of workforce due to market volatility
As well as the layoffs the wealthtech will be “laser-focused” on core businesses investing, banking and crypto.
Allegacy FCU taps enterprise tech provider NCR for data analytics solution
Allegacy FCU says partnership will “make data actionable, unlock predictive insights and drive innovation”.
FinTech Futures: Top five stories of the week – 20 May 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
US fintech MainStreet lays off 30% of employees
CEO Doug Ludlow cites “today’s incredibly rough market” as the reason for the layoffs.
Truist snaps up Gen Z-focused personal finance app Long Game
Under the deal, Long Game’s engineers, designers and business leaders will join Truist’s innovation team.
Another brick in the wall: how Bloom is helping teens build financial literacy skills
Bloom enables teenagers to start building wealth by investing in the stock market and learning about finances.
Fintech app for teens Copper secures $29m Series A
The latest round takes Copper’s total capital raised to date to $42.3 million.
Robinhood announces layoffs, sheds 9% of full-time workforce
CEO Vlad Tenev cites duplicate roles and job functions and “more layers and complexity than are optimal”.
Fintech start-up Valor set to launch in US for Latino and Hispanic communities
The company was founded by WePay alumni Parag Gupta (CEO) and Sankate Sharma (CTO).
US financial services super-app Multicent gears up for launch
Multicent will offer personal and business accounts, a crypto exchange and merchant services.
Investment management platform FundGuard lands $40m Series B
The round saw participation from Citi, State Street, Blumberg Capital, LionBird Ventures and Team8 Capital.
Savings and retirement wealthtech Lilly set to launch in US
Billed as “the world’s first retirement debit and credit card”, the service will cost from $5 a month.
RBC set to acquire UK wealth management firm Brewin Dolphin in £1.6bn deal
The deal is subject to shareholder and regulatory approval and is expected to be completed by Q3 2022.
Goldman Sachs snaps up retirement robo-advisor NextCapital
The transaction is expected to be completed in the second half of 2022.
FinTech Futures: Top five stories of the week – 25 March 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
USAA hit with $140m fine from FinCEN for Bank Secrecy Act violations
USAA admitted to failing to accurately report in a timely manner thousands of suspicious transactions to FinCEN.
US fintech Acorns lands $300m investment to boost growth
The funding comes after the fintech abandoned its planned IPO in January.
Oklahoma’s First National Bank & Trust taps CSI for core banking upgrade
The bank will deploy CSI’s NuPoint core banking platform.
Payroll API fintech Atomic secures $40m Series B funding
Atomic wants customers to be able to invest, save and accrue wealth by “unlocking the power of their paychecks”.
Canada’s TD Bank snaps up First Horizon for $13.4bn in US expansion push
The combined entity will become a top six US bank, serving 10.7 million customers across 22 states.
Banking challenger and investing platform Finch set to launch in US
Finch boosts users’ credit score by reporting spending to US credit bureaus Equifax, Experian and TransUnion.
US mobile banking app Spruce launches powered by SoFi Technologies’ Galileo
The mobile banking platform has been built by H&R Block and launched on 20 January 2022.
Wealthtech FNZ secures $1.4bn investment
The company says the investment is one of the largest ever primary equity raises in the sector.
Mos secures $40m Series B funding to drive product expansion
The cash will go towards hiring new staff as Mos looks to maintain its recent growth spurt.
Lowering the ladder: how NY fintech Xrent plans to help millennials become homeowners
“We have seen a widening wealth gap trend without much sign of slowing down,” says Xrent.
Canadian fintech Koho lands $165m Series D funding
The firm says the investment is one of Canada’s largest fintech funding rounds.
US mutual savings bank Mascoma in tech revamp with Thought Machine
“We believe that modern technology is the key to unlocking superior customer service,” says Mascoma CEO.
Walmart-backed Hazel snaps up fintech platforms Even and One in super app push
Walmart CEO says the app will allow users to “manage their money in one place”.
Accrue Savings raises $25m to offer consumers “a responsible purchasing option”
The Series A funding round was led by Tiger Global.
Alternative retirement investment platform Alto raises $40m in Series B
The firm claims more than 15,000 IRA investors with a billion dollars of assets under custody.
2021: Top five new fintechs and neobanks
FinTech Futures takes a look back at some of the year’s top new fintechs and neobanks.
2021: Top five mergers and acquisitions
FinTech Futures takes a look back at some of the year’s top mergers and acquisitions.
Embedded finance platform Ant Money raises $20m, acquires savings app Blast
Acquisition of Blast boosts the number of apps under the Ant Money umbrella.
Family savings fintech UNest raises $26m in Series B round
Company is one of the few US fintechs with a female founder to gain investor funding to date.
