Liechtenstein’s VP Bank expands digital asset capabilities with Metaco
VP Bank has extended its digital asset services into financial assets using Metaco’s Harmonize platform.
Europe
Rathbones acquires wealth management arm of Investec in £839m deal
The new combined UK entity will have around £100 billion in funds under management.
Railsr appoints new CEO, CFO and COO following rescue sale
Railsr board chair Rick Haythornthwaite says the new appointments bring “renewed energy” to rebuild the firm.
Dutch challenger Bunq applies for US banking licence
The banking charter from the FDIC would allow the neobank to offer its services across the country.
Quantexa raises $129m Series E funding at $1.8bn valuation
The company will use the new capital to expand its global presence and hire more engineering staff.
EU drafts crypto transfer rules to fight money laundering
Under the new rules, cryptoasset transfers will have to include information on their source and beneficiary.
US saving and investing app Acorns acquires UK’s GoHenry
Together, both firms will now serve over 6 million customers globally.
PPRO appoints Motie Bring as chief commercial officer
In his previous role, Bring served as CCO at paytech Nuvei.
Paysafe names Nicole Carroll as new chief strategy and innovation officer
Carroll, who was previously chief product officer at Experian, has more than three decades of industry experience.
Compliance regtech Fourthline secures €50m in fresh funding
Finch Capital increased its stake in the company after having led Fourthline’s previous funding round.
Dutch heavyweight ING taps Salt Edge for SME open banking solutions
The partnership will see use cases developed for SME segments from various industries.
European Payments Council names Giorgio Andreoli as director general
Andreoli says he will be working closely with EPC members to build “the future of payments in Europe”.
Sustainable investment fintech Clim8 shutters
Clim8 says it has been unable to secure further venture capital to fund the business.
The Co-operative Bank partners Onfido for customer onboarding solution
Onfido’s solution allows The Co-operative to meet regulatory requirements and customer preferences.
Blockchain-based BaaS provider Scallop partners tell.money for open banking compliance
Scallop will utilise tell.money’s gateway service to ensure PSD2 open banking compliance.
Climate-focused fintech for farmers Agreena lands €46m Series B funding
The fresh funding comes a year after the company raised €20 million in its Series A round.
UK fintech Paytrix lands $18.3m in Series A funding round
The Series A follows a pre-seed funding round held last year, when it raised £5 million.
Sergio Ermotti returns to UBS as group CEO to help manage Credit Suisse takeover
Ermotti was previously group CEO of UBS for nine years between 2011 and 2020.
FCA appoints two new joint executive directors for enforcement
Therese Chambers and Steve Smart will work as joint executive directors of enforcement and market oversight.
Ingenico acquires smartphone payment acceptance fintech Phos
Phos enables merchants to accept payments directly from NFC-enabled Android devices.
Griffin hires new CFO and CRO to bolster leadership team
Chad Ryan joins as chief financial officer and Dora Grant as chief risk officer.
UK paytech Equals Group eyes European expansion with Oonex acquisition
The firm plans to roll out its business payments, expense management and current account products throughout Europe.
Saudi National Bank chairman resigns following Credit Suisse losses
Saudi National Bank was the largest shareholder in Credit Suisse before it was taken over by UBS.
FCA outlines expectations for payment firms’ customer protections
It says many firms present “an unacceptable risk of harm” to their customers.
UK fintech Sibstar launches to help people with dementia manage their spending
Sibstar has launched in the UK in partnership with Alzheimer’s Society and Mastercard.
German fintech Raisin lands €60m in Series E funding
With the new investment, Raisin intends to accelerate its growth in the US.
Plend partners GoCardless for variable recurring payments solution
VRPs will allow Plend customers to change their payment schedule to suit their financial circumstances.
Spanish fintech ID Finance lands €30m equity funding
ID Finance claims its fundraise is the biggest received by a Spanish fintech in 2023.
UK fintech Snoop reportedly mulling sale
Sky News reports founder Jayne-Anne Gadhia is in talks to either raise new funds or potentially sell the business.
Mangopay acquires fellow European paytech WhenThen
WhenThen’s co-founder and CEO, Kirk Donohoe, has been named Mangopay’s chief product officer.
Suffolk Building Society partners ieDigital for new digital savings platform
The new eSavings platform will be powered by ieDigital’s Interact software.
CryptoUK calls on FCA to oppose banks banning transfers to crypto exchanges
CryptoUK says banks limiting transactions to crypto platforms is “anti-competitive and disproportionate”.
Griffin partners Cable to strengthen BaaS financial crime controls
Cable says its tech will help Griffin “monitor, identify, and address financial crime control risks”.
Is Southeast Europe fertile ground for digital banking challengers?
While the popularity of neobanks has surged in Western Europe, the Southeast remains relatively free of competition.
Seilern Investment Management taps Finbourne for LUSID data platform
Seilern will utilise the cloud-native LUSID platform to optimise its investment decision making.
Enfuce and Science Card look to boost scientific research funding with new card offering
Users will be able to fund scientific projects of their choice through their day-to-day payment activities.
Norwegian B2B paytech Two nabs €18m Series A funding
The Series A funding brings the total capital raised by the firm to €28 million.
Bluestone to sell UK specialist mortgage business to Shawbrook
The deal is expected to close in Q2 2023 and the business will continue to trade under the Bluestone brand.
Mastercard snaps up Swedish AI cybersecurity start-up Baffin Bay Networks
Mastercard intends to fold Baffin Bay’s automated Threat Protection tech into a global “cyber service”.
UBS buys Credit Suisse in government-backed deal
The new business entity will be worth more than $5 trillion, with invested assets worth more than $1.5 trillion.
