FCA issues new guidelines to ensure cash access for consumers and small enterprises
Fourteen banks and building societies are set to implement the new cash access system.
Europe
Social trading app Shares set to exit UK market
Shares plans to close its UK app on 30 August as it looks to “focus on the French and EU markets”.
UniCredit set to acquire Aion Bank and BaaS provider Vodeno for €370 million
The deal includes the entire share capital of both companies and is expected to close in Q4 2024.
Rabobank taps Zafin to upgrade pricing, billing and invoicing capabilities
Zafin’s tech will provide a “consistent view of product, billing and invoicing information across all channels”.
Swiss wealth manager Julius Baer names Goldman Sachs exec Stefan Bollinger as new CEO
Bollinger succeeds interim CEO Nic Dreckmann, who has held the position since February this year.
The UK risks throwing away its fintech crown as open banking ambition stalls
The cost of allowing fintech to languish in limbo is simply too high.
UK money management app Plum raises £16.1m investment
The investment is comprised of a £13.4 million Series B and a £2.7 million Crowdcube campaign.
FCA lifts partner onboarding restrictions on UK fintech Modulr
Modulr can now resume onboarding A&D partners but must inform the FCA when doing so.
UK paytech RC365 acquires Money Lenders Licence to provide digital lending services in Hong Kong
RC365 purchased the licence from private investment and advisory firm HC Capital Group for HK 230,000.
BBVA and Telefónica Tech team for cybersecurity push, launch dedicated centre in Mexico
BBVA says its goal is to be “prepared to respond to all types of attacks”.
Boku names former NatWest exec Rob Whittick as new CFO
Whittick most recently served for over four years as chief of staff of NatWest Group.
Cash App to exit UK as Block scales back international expansion plans
Block is currently focused on “growing within the US, not expanding into new markets”.
ICYMI fintech funding round-up: Dopay, Wamu, Mifundo, Papaya and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Video: Nationwide at Money20/20 Europe – AI and multi-cloud architectures
Nationwide’s Otto Benz discusses the intriguing intersection between multi-cloud architectures and AI.
What’s next for UK fintech under the new Labour government?
After Labour’s election victory, FinTech Futures explores what the future might hold for UK fintech.
RTGS.global co-founder and CTO Andrew Smith announces departure
Smith announced his decision to part ways with the company on LinkedIn.
Meridien Holdings acquires stake in FX liquidity firm DKK Partners to bolster plans for NYSE listing
The US-based holding company says it has “set fourth its plans to list on the NYSE”.
Zodia Markets acquires Elwood’s digital asset OTC business for undisclosed sum
Upon completing the deal, ECML will be rebranded as Zodia Markets Jersey Ltd.
Video: Griffin at Money20/20 Europe – From licence to longevity
Griffin CEO David Jarvis discusses the bank’s licensing journey and what’s next in store.
First Global Bank in Jamaica partners Profile Software for digital Finuevo Suite
The partnership is set to equip the bank with new digital onboarding and loan origination facilities.
Lloyds Banking Group terminates five-year agreement with invoice financing fintech Satago
The agreement was initially announced in March 2022 with Lloyds also investing £5 million into the fintech.
HSBC-backed UK fintech Divido enters administration
Josh Dwyer and Richard Heis of Interpath Advisory have been appointed as joint administrators.
HSBC concludes search for new Group CEO with Georges Elhedery appointment
The appointment follows Noel Quinn’s announcement in April that he was stepping down after five years as CEO.
Thunes hires former Worldpay exec Sigrid Hulsebosch as new CFO
Hulsebosch will take charge of Thunes’ financial strategies and global finance function.
Bux sells UK subsidiary Bux Financial Services Limited to UAE’s Asseta Holding
The company says the sale of BFS is a “subsequent step in the divestment strategy of Bux Holding”.
Starling Bank founder Anne Boden reportedly steps down from board to focus on new AI venture
Boden had been a non-executive director on the bank’s board since stepping down as CEO last year.
FCA announces “biggest changes” to the UK’s listing regime “in over three decades”
The new rules aim to “support a wider range of companies to issue their shares on a UK exchange”.
BNP Paribas partners Ant International to enhance cross-border payment solutions in Europe
The pair will also work to “explore innovations in tokenised deposits for global treasury management”.
Covering the exposed: The effects of the FCA’s PEP review on financial compliance
The FCA is set to publish its review of the treatment of politically exposed persons (PEPs) this month.
Blockchain-powered clearing and settlement fintech Partior raises more than $60m in Series B funding
Partior was founded as a joint venture between JP Morgan, DBS Bank and Temasek in 2021.
TBC Bank Uzbekistan lands $38.2m equity investment
TBC UZ claims to be the country’s largest mobile-only bank, boasting a 15 million-strong user base.
ICYMI fintech funding round-up: Lemon.markets, Trustap, Adfin, Accend and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
BNP Paribas inks multi-year deal to implement Mistral AI commercial models across all business lines
The bank will gain access to “current and future Mistral AI commercial models”.
Challenger bank Griffin certified as B Corporation following “rigorous verification process”
The challenger had its governance, worker, customer, environment and community standards verified by accreditor B Lab.
Nala bags $40m Series A to scale remittance services
Part of the funds have been earmarked to build Nala’s B2B payments platform, Rafiki.
Global fintech investment fell by 19% in H1 2024, according to new Innovate Finance report
Total investment in fintechs worldwide amounted to $15.9bn in H1 2024, compared to $19.5bn in H2 2023.
Daiwa Capital Markets Europe selects Delta Capita for CLM solution
Delta Capita previously purchased LSEG’s CLM compliance solution, Client On-Boarding, in April.
Outpayce selects Mambu to power new multi-currency digital wallet service
The Mambu implementation is underway, with plans to go live “in the coming months”.
Azqore selects Volante Technologies’ PaaS tech for SEPA instant payments
Azqore previously selected Volante to accelerate its ISO 20022 adoption programme in 2022.
Islamic finance start-up Ethos taps Thought Machine for core banking tech
The start-up will leverage the partnership to launch deposit accounts and home purchase plan mortgage services.
