Allpay and The Bank of London partner to streamline payments for the UK social housing sector
Allpay provides a range of payment channels to approximately 90% of the UK’s leading 200 housing associations.
Europe
Monzo records first full year of profitability as it eyes international expansion
Monzo has reported a profit before tax of £15.4 million, compared to its £116.3 million loss in FY2023.
Funding Circle to cut 120 jobs in £15m cost savings drive
Oliver White, Funding Circle’s CFO, has also announced his intention to step down from his role.
Millennial wealth building platform Belong launches in the UK
The start-up launches with stocks and shares ISAs, GIAs, and a five-year amortising “Boost” loan option.
Saxo welcomes back Andrew Bresler as new UK CEO
Bresler previously held the position of deputy head of sales trading in Saxo’s Singapore office from 2016 to 2018.
European FMIs Clearstream, DTCC and Euroclear unveil tokenised asset framework
The framework also highlights the controls which will help firms mitigate governance and asset management risks.
ICYMI fintech funding round-up: Landytech, Frich Money, Swiipr and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Swedish climate fintech Doconomy bags €34m in Series B funding
The funds have been earmarked to fuel the company’s expansion in North America.
XYB announces Derek Joyce as new CEO ahead of Monese split
Joyce previously advised XYB on its upcoming split from Monese as well as its latest fundraising endeavours.
Intelligent Money enters administration with key assets sold to digital savings platform Quai
Richard Heis and Edward Boyle of Interpath Advisory were appointed as joint administrators on 28 May.
Business banking start-up GoDutch launches in the Netherlands
The start-up is aiming to “revolutionise business banking by redefining what ‘fair banking’ truly means”.
Banque Raiffeisen selects Worldline for cloud-based instant payments solution
Worldline has been a long-standing partner of Banque Raiffeisen, providing it with a number of payment services.
Paymentology hires former Superscript exec Tim Joslyn as new CTO
Joslyn brings over 25 years of tech experience to the role and succeeds interim CTO James Letley.
UK challenger SilverRock lands banking licence with restrictions from PRA following £50m raise
The new bank says it plans to start lending “later this year”.
Bank Muscat’s Meethaq goes live with Temenos’ core banking tech
The bank claims to have migrated “over 200,000” customer accounts to the new cloud-based platform.
Germany’s Universal Investment names John Burns as new group CTO
Burns previously served as the global head of technology and operations at DWS Group for over seven years.
HPS set to acquire digital banking and payment software provider CR2
The deal will see CR2’s BankWorld platform combined with HPS’ PowerCard suite.
ABN Amro acquires Germany’s Hauck Aufhäuser Lampe in €672m deal
The deal is expected to close in Q1 2025 pending regulatory approvals.
N26 fined €9.2m by BaFin over late submission of suspected money laundering reports in 2022
N26 says it has implemented “numerous measures to further improve reporting processes” since 2022.
Climate fintech start-up Cloover secures $114m in seed funding round
The firm says the funding will be used to “enhance our operating system designed for the renewable energy industry”.
Stephen Bird to exit Abrdn after four years as group CEO
Jason Windsor, who joined Abrdn last year as group CFO, is to step in as interim group CEO.
Stanbic Bank Kenya set for Temenos core banking upgrade with Orion Innovation
Stanbic Bank Kenya first went live with Temenos’ core banking tech in 2010.
Spanish paytech PayRetailers acquires Transfeera to drive Brazilian expansion
PayRetailers recently received its Brazilian payment institution (PI) licence last month.
LGT in Liechtenstein taps Finastra for instant payments
Finastra says the move will enable LGT to meet the EU instant payments regulatory timeline.
FE fundinfo snaps up wealth management fintech Dericon
The deal marks FE fundinfo’s seventh acquisition in three years.
ICYMI fintech funding round-up: Kudos, Teal, WeMoney and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
BBVA partners OpenAI to deploy ChatGPT among its employees
BBVA has begun deploying 3,000 ChatGPT Enterprise licenses among its employees in Spain.
Open finance fintech Fabrick to acquire finAPI from Germany’s Schufa
Fabrick is to leverage its latest purchase to expand its presence into the DACH region.
Payments fintech Vitesse raises $93m Series C funding to fuel US expansion efforts
Vitesse has also appointed former 10x Banking chief Curt Hess as its new US executive president.
Citi fined £61.6m by UK regulators for “failures in its trading systems and controls”
The total penalty consists of a £33,880,000 fine from the PRA and a £27,766,200 fine from the FCA.
EFG Hermes snaps up minority stake in AI digital wealth manager Kenzi Wealth
EFG Hermes has also signed an MoU with Kenzi to enhance its EFG Hermes One trading platform.
UK’s PSR says Visa and Mastercard face “no effective competition” for core scheme and processing services
The findings are from the regulator’s newly published interim report on scheme and processing fees for cards.
Alpian’s $83m Series C round sees Intesa Sanpaolo’s Fideuram become majority shareholder
Fideuram first made a $20 million investment in Alpian back in 2022.
UK challenger Chetwood Financial acquires lender CHL Mortgages for Intermediaries
Chetwood states that the purchase will complement its forthcoming ModaMortgages proposition.
JP Morgan Chase commits additional £40m to boost economic growth in the UK
The investment aims to “help connect young people and underserved communities to economic opportunities”.
UK challenger GB Bank lands £85m investment
The bank projects that the new investment will allow it to increase its lending to £500m over the next year.
Bank Muamalat signs long-term partnership with Backbase for Engagement Banking platform
The Malaysian bank plans to launch a digital Islamic banking super-app “by the end of the year”.
BNP Paribas set to buy French life insurance business Neuflize Vie from ABN Amro and AXA
Neuflize Vie was founded in 1990 as part of a joint venture between AXA and ABN Amro.
Santander and Iberpay in Spain join EPC’s OCT Inst scheme as inaugural participants
Iberpay will serve as the clearing and settlement mechanism, through Santander, for OCT Inst transactions.
Interview: How Project Nemo is working to accelerate disability inclusion in the UK fintech industry
We chat with Joanne Dewar, head of Project Nemo, about the need for greater disability inclusion in UK fintech.
