B2B e-commerce paytech Balance raises $56m in Series B round
The fresh capital takes the company’s total funding to $87 million.
North America
Apple sued over alleged “anti-competitive” Apple Pay practices
The lawsuit alleges Apple “coerces” consumers who use its devices into using Apple Pay for contactless payments.
Banking Tech Awards USA 2022 Winner: Citizens Pay – Best Innovation
What retailers need to know about buy now, pay later (BNPL).
Rabobank selects US fintech InvestCloud for financial planning tools
Goal-based financial planning features will be made available to Rabobank’s customers.
Arvest Bank teams up with Google Cloud to boost digital transformation
Arvest says it plans on overhauling its current IT systems, including migrating its data centres to Google Cloud.
TomoCredit bags $122m funding to expand product offerings
Investors include Morgan Stanley’s Next Level Fund and Mastercard.
Digital challenger Varo Bank lays off 75 employees in effort to cut costs
CEO Colin Walsh says the firm is “not immune to the impacts of our current environment”.
Privacy, regulations and cross-border data sharing in finance
Discussing the value and inherent risks associated with data sharing on a global scale.
US regulators fine Bank of America $225m for “botched disbursement” of unemployment benefits
The CFPB has fined the bank $100 million, while the OCC has separately issued a $125 million fine.
Credit union tech provider Mahalo Banking raises $20m
Mahalo Banking provides online and mobile banking solutions for credit unions.
EXL, Corridor Platforms and Oliver Wyman partner up for new risk decisioning product
The solution leverages analytics, AI and cloud to deliver “instant” credit decisions to support digital lending.
Credit card start-up X1 raises $25m Series B, readies for full US launch
The Series B round was led by Google Analytics co-founder Wesley Chan’s new fund FPV Ventures.
Banking tech start-up Zeta hires Karla Booe as chief compliance officer
Booe previously spent over 27 years at FIS as the firm’s deputy chief compliance officer.
Stori bags $150m Series C-2 funding at $1.2bn valuation
The company plans to use the fresh capital to grow its team and extend its product offerings.
Mexico’s NanoPay selects BPC to boost its anti-fraud protection
BPC’s SmartVista solution will enable NanoPay to better protect its credit card customers.
Flywire acquires Aussie education paytech Cohort Go
The acquisition will help build out Flywire’s existing education business.
BNPL firms Zip and Sezzle agree to call off proposed merger agreement
The merger was initially announced earlier this year.
Digital banking tech firm Apiture lands $29m funding
The investment brings the company’s total funding raised since its inception in 2017 to $69 million.
US fintech Pico receives $200m investment from Golden Gate Capital
The new funds will be used to pursue M&A opportunities.
Remittance start-up SendSprint launches in UK in partnership with Flutterwave
Flutterwave will provide the infrastructure to enable SendSprint to process cross-border transactions.
US fintech funding round-up: Finalis, Quiltt and Realfinity
A handy Friday funding round-up of US-based fintech start-ups: Finalis, Quiltt and Realfinity.
How Zolve is helping US immigrants land on their feet
Zolve helps immigrants accelerate their financial health through products that build wealth in the long run.
US crypto firm Celsius files for bankruptcy protection
Celsius has initiated voluntary Chapter 11 proceedings as it looks to restructure and “stabilise its business”.
Wealthtech Tifin acquires SharingAlpha to boost international presence
Following the acquisition, SharingAlpha will be fully integrated into Tifin’s Magnifi platform.
New paytech Argyle Payments launches in the US
Argyle will support payments for small and midsize merchants in “high-margin” specialty markets.
Recurring-revenue business lender Capchase secures $400m debt financing
The funds will be used to support SaaS start-ups across the US and Europe.
Neobank Kinly taps open finance fintech MX for data aggregation solutions
Kinly says it will leverage clean data and personalised financial alerts from MX to help Black American communities.
US banking start-up BetaBank taps Finxact for cloud-native core
Chicago-based BetaBank submitted its banking charter application in April this year.
Deuna lands $30m in Series A funding round
Deuna plans to use the funds to expand into Latin America, develop its product and hire new talent.
Mambu partners Visa for end-to-end card issuing and processing
The company is developing an integration with Visa DPS.
Sid Jajodia appointed as Revolut’s new US CEO
Jajodia joined Revolut as chief banking officer in 2021 and will continue in this role alongside his new position.
Binance.US hires ex-PayPal exec Jasmine Lee as CFO as firm eyes IPO
Lee joins from micro-investing app Acorns, where she served as CFO and COO.
US crypto firm Voyager Digital files for bankruptcy protection
The firm says it has “filed voluntary petitions for Chapter 11 protection to implement restructuring”.
Linkbancorp taps Jack Henry for digital banking and lending upgrade
Linkbancorp will look to utilise Jack Henry’s Banno Digital Platform and LoanVantage offerings.
US fintech funding round-up: Stake, Finli, Crescent and OpenFin
Our weekly round-up for you to get the latest fintech funding news from the US.
Banking Tech Awards USA 2022 Winner: Hamilton Reserve Bank – Best Use of Risk, Compliance & Fraud Protection Technology
Hamilton Reserve Bank and authID on the benefits of seamless and secure digital identity assurance.
Wyre partners MoneyGram to allow crypto-to-cash conversion
It’s hoped the integration will address a “major pain point for users” in the crypto ecosystem.
Accounts receivables platform Tesorio bags $17m in Series B round
The new capital takes Tesorio’s total funding raised to date to $37.6 million.
Banking Tech Awards USA 2022 Winner: Symphony AyasdiAI – Tech of the Future
AI does not look for a needle in a haystack, but rather for a needle in a stack of needles.
New digital payment platform Kasheesh launches in US
Kasheesh reduces the cost burden on individual cards and helps users build their credit scores.
