ICYMI fintech funding round-up: Marco, Zone, Copilot, Flowpay and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
North America
BNY Mellon deploys AI supercomputer from Nvidia
BNY Mellon has deployed Nvidia’s supercomputer, DGX SuperPOD with DGX H100 systems.
Finalists announced for Banking Tech Awards USA 2024
Winners of this year’s awards will be announced at a gala dinner ceremony in New York on 30 May.
IndusInd Bank partners Tappy Technologies and Thales to launch tokenisation solution for wearable payments
The Indus PayWear app will enable the bank’s customers to tokenise their cards for use with wearables.
US start-up Frich Money enters pilot partnership with MSU Federal Credit Union
MSUFCU believes Frich Money can help bridge the “awareness gap” between Gen Z and credit unions.
US-based Central Bank taps TCS for core banking upgrade
The Missouri-headquartered bank will deploy the vendor’s flagship TCS Bancs core banking system.
Copper State Credit Union selects Jack Henry as new enterprise technology provider
The Arizona-based credit union is consolidating its tech infrastructure under one platform.
Nuvei evaluating bids for potential buyout with Advent reportedly leading the race
The Canadian paytech says “no decision has been made at this time” regarding a potential deal.
Cloud banking tech provider nCino acquires DocFox to streamline account opening
DocFox provides account opening software built to help simplify the customer onboarding process.
Stax Payments founders launch business credit decisioning platform Worth AI
Sal Rehmetullah and Suneera Madhani will act as co-CEOs of the start-up, which is set to launch this month.
Flutterwave names ex-CBN director Dipo Fatokun as new board chair
Fatokun currently chairs the Board Audit and Governance Committee of United Capital.
Regional Federal Credit Union partners Sharetec for core processing
Sharetec’s Velocity solution will be deployed to replace the credit union’s existing in-house core system.
Tifin hires ex-BlackRock MD Brooke Juniper as CEO of its AI investment platform Sage
Juniper joins the firm directly from BlackRock, where she has worked since 2007.
JP Morgan Chase hit with $348m in fines related to its trade surveillance programme
The fines were issued by the the Office of the Comptroller of the Currency and the US Federal Reserve.
ICYMI fintech funding round-up: Tuum, DigiMaaya, Youverify, Trampay and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Digital Asset’s Canton Network completes first trial with global banking heavyweights
Notable participants in the trial included BNY Mellon, Standard Chartered, Goldman Sachs and Broadridge.
Indian fintech Perfios lands $80m investment from TVG
The investment builds on Perfios’ $229 million Series D and reportedly now values the firm at over $1 billion.
Mastercard pilots new Smart Subscriptions feature in the US powered by open banking
Smart Subscriptions enables consumers to cancel, pause and resume their subscription-based payments.
Jefferson Bank in Texas taps Finastra for Payments To Go solution
Finastra’s tech will enable the bank to deliver instant payment services including FedNow and RTP.
US neobank Oxygen switches focus from banking to health in new strategy
Consumers and business users have been informed that their accounts will be closed on 29 March.
US Federal Reserve “nowhere near recommending, let alone adopting” a CBDC, chairman tells Congress
Fed chairman Jerome Powell tells Congress that “people don’t need to worry”.
Razer Fintech and Razer Merchant Services rebranded to form standalone subsidiary Fiuu
Fiuu will now operate independently of Razer, providing payment services for businesses in Southeast Asia.
US digital bank Green Dot hires Melissa Douros as new CPO
The new CPO will head product design and team development for the Texas-based fintech.
ICYMI fintech funding round-up: Theia Insights, Lettuce, StackOne, Synnax and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
CFPB to cap credit card late fees at $8 and increase accountability among issuers
The new limit is poised to save US consumers more than $14 billion a year.
New York Community Bancorp secures $1bn equity boost following Q4 2023 losses
NYCB has also made several high-profile appointments to its board of directors.
US neobank Dave achieves profitability over Q4 2023
In Q4 2023, the LA-based neobank generated a GAAP net income of $200,000 and EBITDA of $10 million.
Cotribute tapped by Clearwater Credit Union to streamline digital account opening and loan origination processes
The partnership will see Clearwater leverage Cotribute’s consumer and business digital account opening modules.
Fiserv reportedly in the running to acquire Shift4 Payments
According to a recent Reuters report, final bids for a potential takeover are due to arrive in the coming weeks.
US paytech Spreedly appoints Peter Dougherty as new president
Dougherty will oversee the firm’s go-to-market operations, including sales, marketing, and partnerships.
Mexico’s Ziff acquires digital lending start-up Arrenda
The acquisition sees Ziff take control of the start-up’s flagship lending platform, Adelanta.
Deel acquires Africa-based payroll company PaySpace
Deel says it has also surpassed $500 million in annual recurring revenue since its inception in 2019.
CGS International in Singapore taps Broadridge for securities finance platform
The firm will leverage Broadridge’s Securities Finance and Collateral Management (SFCM) solution.
BaaS vendor Synctera lands additional $18.6m Series A cash injection
Going forward into 2024, Synctera plans to launch its new payment product SyncteraPay.
PayPal extends payment options for online SMEs with new solution
PayPal Complete Payments launches this week to online sellers in 22 markets worldwide.
California’s Edwards Federal Credit Union taps Apiture for consumer banking solution
The 62-year-old credit union has around 12,500 members across California’s Antelope Valley region.
Online pension provider PensionBee announces US expansion plan
PensionBee is partnering with an unnamed US financial institution to enter the US market.
Treasury Prime trims workforce amid strategic pivot to focus on direct-to-bank partnerships
The pivot comes a year after the firm completed a $40 million Series C fundraising round.
Mexican microlending start-up Baubap secures $120m in debt financing
The fintech intends to leverage the debt financing to extend its lines of credit to the underserved.
ICYMI fintech funding round-up: Embat, Slice, NayaOne, MoneyHash and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
