Goldman Sachs reportedly set to lay off 125 managing directors worldwide
Sources tell Bloomberg that the layoffs are currently ongoing as the bank looks to cut costs.
North America
Star One Credit Union taps Tyfone to implement instant payment solution
The solution is certified for FedNowSM, the Federal Reserve’s new instant payment offering launching in July 2023.
JP Morgan Chase appoints new chief data and analytics officer
Heitsenrether will be responsible for leading the adoption of AI across the bank’s operations.
PE firm Flexpoint Ford acquires loan origination fintech Baker Hill
The transaction is expected to close soon following customary regulatory approvals.
Robinhood snaps up credit card platform X1 for $95m
The acquisition is expected to close in Q3 2023, subject to customary closing conditions.
US paytech Fortis expands into Canada, acquires SmartPay
The move marks Fortis’ first expansion outside the United States.
Google Cloud launches AI-powered AML offering for financial institutions
Google Cloud claims its AML AI solution helps increase risk detection and lower operational cost.
ACI Worldwide launches Instant Pay solution for European merchants
Merchants using Instant Pay will be able to accept instant online, mobile and in-store payments.
SVB Financial Group agrees sale of its investment banking business, SVB Securities
The bidding group is led by Jeff Leerink, SVB Securities’ CEO and founder.
Colombia’s central bank taps Ripple to test blockchain use cases
The central bank plans to test Ripple’s CBDC platform in a controlled environment.
Citi TTS taps Pismo to strengthen demand deposit account solutions
Citi will initially deploy Pismo’s cloud-based core solutions in the US market.
US risk intelligence firm Blackbird.AI lands $20m Series B
Blackbird.AI helps organisations detect and respond to threats that can cause reputational and financial harm.
ICYMI fintech funding round-up: Kanastra, Majority & Cloudbankin
Our weekly fintech round-up for you to get the latest funding news from around the world.
Payments Canada further delays launch of real-time payment system
During the next three months, Payments Canada will review the risks identified in the delivery of the Real-Time Rail.
US fintech start-up Paro lands $25m Series C funding
With the latest funding, Paro has raised $67 million to date.
Wealthtech OneVest secures CA$17m in Series A funding
It will use the funding to accelerate growth, expand into the US market, and to expand its team.
FIA Tech raises additional $25.4m in funding round
The fresh funding brings its total capital raised to almost $70 million.
FIS acquires BaaS start-up Bond for undisclosed sum
In an internal memo, FIS shares that it completed the Bond acquisition on 8 June.
UK paytech GoCardless lays off 15% of its workforce
GoCardless cites the current economic environment as the reason behind the layoffs.
Nasdaq to acquire software firm Adenza for $10.5bn
The transaction, subject to regulatory approvals, is expected to close within six to nine months.
White paper: Building a business card program in today’s digital first landscape
How to make a card program for SMBs a conduit to continued customer/member loyalty and growth for an FI.
Infographic: The five steps to top-of-wallet status
The five steps you need to achieve card dominance in today’s highly competitive landscape.
Canada’s Interac appoints Jeremy Wilmot as new CEO
Wilmot succeeds Mark O’Connell, who will be retiring on 31 October 2023.
US fintechs Boom and Finch secure funding
A handy round-up of the recent funding endeavours of fintech companies across the US.
US fintech Mosaic secures $26m Series C funding
The round was led by OMERS Ventures with participation from Founders Fund and General Catalyst.
US SEC sues crypto firms Binance and Coinbase
The US regulator has filed charges against both firms this week amid a crackdown on crypto.
US paytech CardFlight appoints new CTO, Brian Butts
CardFlight is a New York-based point-of-sale (POS) solutions provider.
Regtech start-up Consilient names Jeremy Kedziora director of data science
Consilient, a US-based regtech, aims “to transform how the industry prevents financial crime”.
Chargebacks911 hires Bank of America and Apple execs to drive global growth
Guy Harris joins as chairman of the board and Eric M. Hoffman as president of interbank solutions.
Marqeta closes Australia office in bid to cut costs
Marqeta is undertaking “restructuring actions” in Q2 this year to reduce operating expenses.
Chris Rigoni to head BaaS operations at Coastal Community Bank
Chris Rigoni moves from Webster Bank, where he also looked after the company’s BaaS business.
Cross-border payments start-up Keeta launches with $17m funding
Among Keeta’s investors is ex-CEO of Google, Eric Schmidt.
Stripe acquires engineering analytics start-up Okay
Okay provides analytics and reporting software designed to help engineering teams streamline workflows.
New banking app Charlie aims to cater to retirees in the US
The start-up, which was founded in 2021 and launched nationwide last month, has raised a total of $7.5 million.
Banking Technology Magazine June 2023 issue out now
Cover story: BRAINIAC – Generative AI and banking
PayTech Awards USA 2023 extended deadline
Nominations for the awards are open until 16 June 2023.
Bank and payment data fintech Ribbit acquires regtech ValidiFI
Ribbit CEO Greg Rable says bringing together the two companies is a “win-win” for both customers and Ribbit.
Payments platform Dwolla names Lawrence Herman as CFO
Herman joins Dwolla from Accrete, an AI machine learning company, where he was CFO.
PayNearMe lands $45m in Series D funding
With the new funds, PayNearMe plans to to accelerate its growth and develop its payments platform further.
Congratulations to the Banking Tech Awards USA 2023 winners!
Take a look at the 2023 Banking Tech Awards USA well-deserved winners.
