ICYMI fintech funding round-up: Ekko, Layer, MNZL, Panax and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Europe
HSBC UK partners accounting software provider Ember for My Business Finances tool
The tool aims to help small businesses comply with the UK’s upcoming Making Tax Digital initiative.
French fintech Lydia launches digital banking app Sumeria
Lydia says it plans to pump over €100 million into Sumeria over the next three years.
AI-powered regtech Cube acquires global regulatory intelligence enterprises from Thomson Reuters
Through this acquisition, Cube aims to “set a new bar for the industry in regulatory automation”.
Commerce Bank goes live with instant payment service FedNow through Temenos Payments Hub
The bank has also tapped Temenos’ US Model Bank to “meet the unique business needs of the US market”.
The UK’s digital identity crisis
The UK needs to prioritise and accelerate digital identity adoption to avoid falling behind.
Vietnam’s PVcomBank launches mobile banking app powered by Temenos Digital on AWS
PVcomBank has been running on Temenos Core for retail and corporate banking for over 10 years.
UK challenger Tandem appoints Suavek Zajac as new CTO
Zajac’s most recent positions include serving as CTO at Blackberry and the UK-based fintech Railsr.
Avidbank partners Corserv to launch commercial credit card programme
The bank will utilise Corserv’s Account Issuer solution to power its new credit card offering.
BIS opens call to private sector participants for Project Agorá
Applications are to remain open until 31 May, with the final list of participants to be announced on 9 August.
French paytech Lemonway appoints new CTO and CFO
Céline Bayer and Nicolas Vigier have been named Lemonway’s new CFO and CTO respectively.
Marine financing fintech Salt granted FCA approval and names new CRO
In addition, the fintech revealed it was on the hunt for additional investors for its ongoing seed funding round.
Deutsche Bank to explore asset tokenisation applications as part of MAS’ Project Guardian
The bank will collaborate with Interop Labs and Memento Blockchain as part of the project.
Bankart migrates payment processing to Diebold Nixdorf’s Vynamic Transaction Middleware
The integration is to replace Bankart’s legacy payment processing platform provided by ACI Worldwide.
Adam Dodds to step down as CEO of stock trading app Freetrade
Freetrade COO and co-founder Viktor Nebehaj is poised to assume the CEO role moving forward.
Banque Internationale à Luxembourg goes live with Temenos’ core banking and payments tech
BIL has actioned a major technology overhaul of its retail, corporate and private banking operations.
President’s Choice Financial taps Temenos for retail core banking solution
PC Financial will adopt Temenos’ retail core banking solution as SaaS on Microsoft Azure.
What are the strengths, weaknesses and concerns around open banking?
The industry must ensure that open banking tech serves the strategic needs of consumers and institutions.
How UK building societies are finding balance amid the rise of digital
It’s estimated that the UK’s 43 active building societies serve approximately 26 million people.
BBVA makes $13bn hostile takeover bid for Banco Sabadell
Banco Sabadell’s board had previously rejected an offer from BBVA claiming it significantly undervalued the company.
Suffolk Building Society taps Finova to power mortgage offering
The mutual is to integrate Finova’s Apprivo mortgage originations banking platform.
TerraPay appoints network head amid new partnership with MultiPass
Hassan Chatila has been named as VP and global network head, joining from Western Union.
A1 Bank goes live with Avaloq’s core banking platform
The implementation of the platform was carried out by Avaloq’s partner Synpulse.
ICYMI fintech funding round-up: Fundcraft, Volta, Swypex, SAVR and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Basware acquires invoice management and statement reconciliation platform AP Matching
The acquisition will also see Basware integrate AP Matching’s managed services division.
UK lender Abound secures £800m in mix of equity and debt financing
The London-based firm previously secured £500 million in equity and debt financing last year.
Equals Money to power Chorus TM’s new financial management platform for the music industry
Chorus TM’s next step is a full US launch, which is scheduled for the coming months.
Ecology Building Society set for 2025 core banking overhaul with Monument Technology
Ecology Building Society says technology modernisation will help “attract future customers at pace and scale”.
Sweden’s Mitigram names Pedram Tadayon as new CEO
Mitigram has also refreshed its C-Suite with recent CSO and CPO additions.
Monzo secures additional $190m funding from new and existing investors
The digital challenger had previously raised $430 million in March.
Mangopay appoints Meta product lead Ariel Shoham as VP of risk product
The European payment infrastructure provider is seeking to expand its fraud prevention solutions.
NAB partners UK fintech Banked to boost merchant adoption of A2A payment solutions
NAB says the first group of business clients to adopt A2A payments will go live “in the first half of 2024”.
CIBC Mellon taps Duco for AI-powered data automation tech
The firm will leverage Duco’s tech to “manage data effectively while reducing operational risk”.
Turkish fintech Iyzico acquires Paynet in $87m deal
Iyzico plans to integrate Paynet’s B2B payments and collections solutions.
Iwoca lands £270m debt funding package from Citibank and Barclays
The lender says it plans to use the funding to expand its operations in the UK and Germany.
Lloyds Banking Group collaborates with Red Hat to adopt modern open source engineering practices
Lloyds is aiming to boost its “developer experience, software quality, and speed to market”.
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.
Ireland’s Corlytics snaps up Deloitte UK regtech platform
The regtech platform helps institutions manage, structure, and source compliance and regulatory change.
AYA Bank taps SmartStream for transaction lifecycle management solution
The bank has selected SmartStream’s TLM Reconciliations Premium Digital Payments Control solution.
Globacap hires WealthKernel’s Brian Schwieger as new chairman
Schwieger also currently serves as the chair of the board and non-executive director of WealthKernel.
