Core banking tech challenger Tuum secures €25m Series B to tap new territories
The vendor plans to further establish its market presence in Germany, Austria and Switzerland.
Europe
Unity Trust Bank appoints Colin Fyfe as new CEO
Fyfe joins UTB from Hinckley & Rugby Building Society, where he was CEO for over five years.
India’s UPI launches in France through collaboration with Lyra Network
The move is a continuation of Indian PM Narendra Modi’s vision of “taking UPI global”.
Exclusive: Old Mutual signs for 10x Banking core, igniting vendor’s African expansion
Old Mutual will leverage 10x’s core banking tech to “serve those who have bank accounts but are severely underserved”.
India’s Tata Consultancy Services reportedly in the race to run UK’s Faster Payments service
The potential move would see TCS replace Mastercard’s Vocalink as the service’s technology partner.
Deutsche Bank to cut 3,500 roles over two years amid €2.5bn savings drive
The German investment bank says the cuts will mainly apply to “non-client-facing areas”.
Demystify Podcast: Embracing fintech and the green agenda with vice minister of finance, Lithuania
Lithuania’s ambitious journey in fintech and sustainability with vice minister of finance, Vaida Česnulevičiūtė Markevičienė.
Long-serving Barclays exec Matthew Haines leaves for Santander
Haines has joined Santander’s Payments Centre of Excellence as product owner, effective this month.
Twig enters liquidation, becoming latest UK fintech to shut down
Anthony Hyams and Kelly Knight of Insolve Plus were installed on 23 January to liquidate the fintech.
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.
NatWest’s Mettle names Michelle Prance as new CEO
Prance has been promoted to help “meet the evolving needs of the self-employed community”.
Schroders Personal Wealth announces launch of new investment platform
The proposed platform is set to arrive in the summer, along with a new client mobile app in Q2.
Offa taps Finova to power new Sharia-compliant property lending platform
The move comes as part of a £1 million investment by Offa to upgrade its IT systems.
UK open banking fintech Kikapay winds down
Douglas Pinteau and Dermot Coakley of WSM Marks Bloom LLP were instated as joint liquidators on 16 January.
Santander names Petri Nikkilä as new Openbank CEO
Nikkilä joins Santander from ING, where he is currently serving as head of global retail transformation.
Amplifi Capital lands £22.5m funding to fuel Reevo Money expansion
Reevo Money was launched by Amplifi Capital in 2022 and is the firm’s second customer-facing brand.
MessageBird seeks entry into financial services with call for potential acquisitions
The platform’s search is currently focused on companies with EMI/PI licences and revenues of up to $5 million.
Kriya announces new £50m funding facility from Viola Group
Kriya aims to use the facility to enhance its offerings for B2B retailers.
UK fintech Paysme winds down operations
Founder Derek Stewart says Paysme is “not in a sufficiently strong financial position to grow to the next milestone”.
UK challenger Tandem appoints former JP Morgan exec Maria Khan as director of product and digital
The bank says Khan will work to develop and cultivate “green digital banking solutions”.
YouLend secures £4bn private securitisation deal with JP Morgan
The deal will enable YouLend to provide additional revenue-based financing to SMEs.
Power in simplicity: confirmation of payee provider SurePay wins at Banking Tech Awards
Making life difficult for fraudsters but easier for business is the real success story, says SurePay.
Griffin begins hunt for new COO with Maria Campbell set to depart
Campbell is due to depart the company this quarter to take “some personal time out”.
Dutch challenger Bunq prepares for UK relaunch as it reports first full year of profitability
Following a reported net profit of €53.1 million in 2023, Bunq has now applied for a UK EMI licence.
UK’s PRA fines HSBC £57m for “historic depositor protection failings”
The PRA says the fine is the second-largest issued by the regulator to date.
GFT cultivates core banking capabilities with acquisition of Colombia’s Sophos Solutions
The acquisition will see GFT take on all of Sophos’ partners and 1,700 of its employees.
Armenia’s Ardshinbank selects ERI’s Olympic Banking System for securities and forex
Ardshinbank will also integrate the vendor’s tech to strengthen its retail mobile app.
Lloyds to cut 1,600 jobs across branch network amid growing customer preference for digital banking
The group says it will also be introducing over 830 new roles within its relationship growth team.
Swiss crypto neobank Sygnum lands $40m growth investment
Sygnum says it will use the capital to expand into new markets and further develop its product suite.
Mondu gears up for European expansion with €30m debt financing boost
Mondu’s credit facility with VVRB now stands at €50 million following an earlier deal in 2022.
Société Générale reportedly seeks new buyer for neobank Shine
Les Echos reports the bank is approaching potential buyers for Shine four years after acquiring the company.
UK to continue work on digital pound, but “no final decision has been made” on a potential launch
HM Treasury and the BoE have responded to a public consultation initially launched last February.
ICYMI fintech funding round-up: Safty, Ozone API, WealthKernel and Karty
A handy round-up of the recent funding endeavours of fintech companies across the globe.
UK fintech ieDigital snaps up AI tech provider Abaka
The fintech’s takeover of Abaka comes only four months after it also acquired US CUSO Connect FSS.
Abrdn announces £150m cost-cutting drive with 500 jobs on the chopping block
The cuts are expected to impact group functions and support services across its middle management.
Duco names Michael Chin as new CEO as Christian Nentwich steps down
Chin previously served as CEO of Broadway Technology prior to its acquisition by Bloomberg last October.
Former Adyen exec Jan-Pieter Lips joins UK’s DNA Payments as CEO
The London-headquartered firm has tasked its new CEO with leading its next period of growth.
EBA addresses ESG and climate change risks with new proposed guidelines
The EBA says it is accepting comments on the proposals via its consultation website until 18 April 2024.
BNPL firm Billink fuels European expansion plans with $32m funding from Varengold Bank
The Dutch paytech is looking to expand its presence and break into the neighbouring market of Germany.
Italy’s Objectway doubles down on North American wealth market with acquisition of Nest Wealth
The deal will see the fintech take ownership of Nest Wealth’s digital wealth solutions and client portfolio.
