Digital ID verification platform Veriff raises $100m Series C at $1.5bn valuation
Veriff says the cash injection will be used to invest in R&D and grow its sales and marketing teams.
Europe
Monzo warned by CMA over retail banking order breach
The agency says Monzo has taken adequate steps to end the breach and prevent a recurrence.
German software firm SAP to acquire capital management fintech Taulia
Taulia will continue to operate as a standalone company under its own brand.
Fintech start-up destream to launch bank card aimed at internet content creators
Destream says banks often block large payments from donations and platform subscriptions.
Digital bank N26 confirms departure of COO Adrienne Gormley
N26 says Gormley has “played an important role” in scaling its operations division.
Crypto paytech BCB Group lands UK blockchain industry’s largest Series A with $60m raise
BCB claims to have processed nearly $100bn worth of payments in just over five years of business.
Fintech start-ups Altpay and Finz Money launch in UK
Both companies are now open for new customers to register.
JP Morgan acquires 49% stake in European SME paytech Viva Wallet
JP Morgan says Viva Wallet is a “natural fit” for its payments business.
UK credit card Keebo launches for “credit invisibles” in “passion economy”
Keebo tackles financial exclusion in the “passion economy” – an economy built around “creators with a purpose”.
Santander enters BNPL market with launch of new platform Zinia
Already live in Germany, Santander now plans to roll out the service in the Netherlands and Spain.
Technology holds the key to solving the Covid loan repayment crisis
The adoption of new tech by governments can help SMEs access the cash needed to repay their Covid loans.
Banking Tech Awards 2021 Winner: Snoop – Best Open Banking Solution
What’s next for the award-winning app that helps people “live smarter”.
Alternative lender 365 Business Finance secures £55m funding
365 Business Finance aims to quadruple its lending to UK SMEs over the next two years.
ING spin-out fintech Katana Labs shuts down
“I regret to announce that Katana Labs will cease to operate as of January 31, 2022,” founder says.
Greece’s Epirus Bank taps Profile Software to boost risk management
Cooperative bank picks RiskAvert to automate capital calculation and report production processes.
German fintech start-up Moss secures $86m Series B funding at $573m valuation
The latest cash injection takes the company’s valuation to over €500 million ($573 million).
EU’s first blockchain financial institution BENKER receives EMI licence
BENKER CEO sees the introduction of blockchain to banking as the beginning of a “New World Order”.
UK’s Payment Systems Regulator fines Mastercard £31.5m for competition law violations
Five prepaid card companies admitted to cartel behaviour while supplying local authorities.
UK fintech start-ups WealthKernel, Fintech Farm and Bink attract funding
The trio of UK-based fintechs have attracted investment from a range of firms.
Change at the top for Credit Suisse as Horta-Osório resigns as chairman
Horta-Osório resigns after it was found he broke Swiss and UK Covid-19 isolation rules.
Socially responsible savings app Cushon raises £35m, makes third acquisition
Cushon becomes the fifth largest master trust pension provider in the UK.
Financial services customer engagement platform Personetics raises $85m in growth funding
Personetics’ technology analyses real-time financial data at customer touchpoints, learning their financial behaviours.
Swiss neobank Entris selects Bottomline for digital-first payments upgrade
Entris is looking to future-proof its operations ahead of the introduction of instant payments in Switzerland.
Allica Bank selects core banking tech from start-up SaaScada
SaaScada’s tech will support Allica Bank’s new product range for SMEs.
Amanda Mesler appointed chair of Swedish fintech Minna Technologies
The European fintech plans to “hyper-scale” and move into the US and Australia this year.
US fintech nCino tapped by Cambridge & Counties Bank for lending infrastructure upgrade
UK bank will look to utilise nCino’s end-to-end cloud-based platform.
Amazon U-turns on decision to ban UK-issued Visa credit cards
The eleventh-hour reprieve comes as both companies are “working closely” to reach a longer-term agreement.
Spend management platform Spendesk hits unicorn status with €100m funding
Spendesk will use the funding to nearly double its workforce.
Danish digital bank Lunar taps Thought Machine for Vault core banking solution
Lunar says it is building the “go-to app” for banking, payments and investments in the Nordic region.
House of Lords committee says UK digital pound is “solution in search of a problem”
The Economic Affairs Committee cited financial, privacy and data concerns over UK CBDC.
UK’s Financial Conduct Authority hands out £568m worth of fines in 2021
The scrutiny of large financial services giants formed part of the FCA’s broader strategy.
Retail finance platform Divido appoints Todd Latham as CEO
Latham has also held senior positions at American Express and Microsoft.
Sustainable energy platform EIT InnoEnergy gains first financial institution shareholder, ING
EIT InnoEnergy is supported by the European Institute of Innovation & Technology.
SIX, BIS and SNB conduct CBDC core banking integration test
Citi, Credit Suisse, Goldman Sachs, Hypothekarbank Lenzburg and UBS also took part in the experiment.
Matt Collinge joins start-up Sequence as CTO
UK-based start-up Sequence is “creating a new category of software”.
Ebury appoints HSBC innovation head Louise Chan as new COO
Chan is taking on an expanded role, covering operations, product, data and regulatory reporting.
GPS adds $100m to its latest funding round, appoints new chair
Global Processing Services (GPS) closes its latest funding round at over $400 million.
United Fintech acquires 25% stake in asset management platform Athena
The multi-stage acquisition deal is the company’s fourth acquisition in 14 months.
UK consumer lender Oplo acquired by challenger bank Tandem
Together, Tandem and Oplo will “create a fairer, greener digital bank”.
Travel BNPL fintech Fly Now Pay Later lands $75m debt funding package
The funding package will finance the UK fintech’s expansion into the United States.
