UK challenger Aldermore Bank enters strategic partnership with Mambu
Aldermore joins 18 regulated UK banks and 22 non-bank lenders and EMIs which run on Mambu.
UK
Nucleus Commercial Finance secures £200m funding facility from NatWest
The new facility brings its total lending capacity to date to £900 million.
HSBC appoints CEO and COO for new embedded finance JV
HSBC executives Vinay Mendonca and Shehan Silva have been appointed as CEO and COO of the new JV, respectively.
Shareholders give Metro Bank refinancing deal the green light
The £925 million rescue deal also grants Spaldy Investments a 52.88% ownership stake.
French paytech Worldline lands Payment Institution licence from UK’s FCA
Worldline had previously been operating under the FCA’s Temporary Permission Regime, which will end on 30 December.
Barclays could reportedly cut around 2,000 jobs in push to reduce costs by £1bn
Reuters reports that the bank’s managers are looking to increase profitability and are reviewing proposals.
UK financial services firms cautious but keen to adopt GenAI, new survey says
The study surveyed 23 members of UK Finance, including banks and non-banking financial services firms.
Funding Circle and Atom Bank to provide an additional £150m in financing to UK SMEs
The third such partnership between the two firms takes Atom’s total lending with Funding Circle up to £800m.
UK government publishes findings from the Future of Payments Review
Commissioned by the UK chancellor and launched in July this year, the report has been authored by Joe Garner.
FCA greenlights Klarna for payment and credit services in the UK
A newly formed entity, Klarna Financial Services UK, will now provide all consumer-facing services in the country.
UK’s Kodelab to provide lending tech for HKMA CBDC pilot with Ripple and Fubon Bank
The pilot is part of the HKMA’s three-stage approach to CBDC development.
Irish paytech NomuPay acquires UK-based PSP Total Processing
Total Processing provides payment solutions to merchants in Europe, North America and MENA.
Crypto payments firm BCB Group names Oliver Tonkin as new CEO
Tonkin co-founded the firm with Oliver von Landsberg-Sadie, who he will succeed as CEO.
UK fintech Triver secures £20m debt facility from Avellinia Capital
Triver says the new facility will enable it to offer more than £200 million in funding annually to small businesses.
Fils launches as digital ESG infrastructure for payments sector
Founder Nameer Khan describes his latest venture as “a catalyst for the evolution of ESG enforcement”.
Klarna prepares for SEPA instant payments with Form3 partnership
The agreement will directly connect Klarna to STEP2 and the gross settlement payment system RT1.
Checkout.com appoints Mariano Albera as new chief technology officer
Albera has been with Checkout.com for the last three years, serving as senior vice president of engineering.
Scottish challenger Alba Bank taps nCino to power SME lending
The SME-focused challenger landed its UK banking licence with the FCA and PRA in March.
Google parent company Alphabet in talks to seize major stake in UK challenger Monzo
Monzo could close its latest round of funding before the end of the year as it eyes up a potential IPO.
Advent International snaps up UK paytech myPOS
The deal will be completed through Advent’s new payments company, AI Circle Bidco.
UK-Africa remittance start-up Zazuu closes down
Founded in 2018, Zazuu operated a marketplace for cross-border payment networks in Africa.
Apple Pay rolls out new open banking feature for UK customers
Apple Pay’s UK customers can access their “most relevant” account information at the time of purchase.
Regulators approve ex-UK cabinet minister Gavin Williamson’s appointment to Lanistar advisory board
Williamson is expected to be paid in the company’s shares, and will meet its executive committee once a month.
Lynx raises £15m Series A funding to fight fraud and financial crime
Created 20 years ago, Lynx leverages AI and machine learning to detect and prevent financial crime.
AMP Bank and Salt Bank tap Starling’s Engine platform for digital banking offerings
Engine enables clients to build their own banking propositions using the same core technology that Starling uses.
Redpin launches with new strategy and £140m in funding
The launch follows a previous £140 million investment that Redpin received from Blackstone, Palamon and Corsair.
FCA places embattled Metro Bank on financial crime watchlist as rescue deal continues
Its position on the watchlist was revealed last week via the release of a 217-page dossier outlining a rescue deal for the bank.
Bambu taps WealthKernel to launch “world’s first” SaaS robo-advisor
Bambu says its solution has been designed for financial institutions that cater to mass retail investors.
UK’s OneSavings Bank partners nCino to streamline lending operations
The bank aims to increase efficiency in its underwriting and loan origination processes.
Fintel makes double acquisition of VouchedFor and AKG for combined £9.1m
The deals mark Fintel’s third and fourth acquisitions of the year, following deals for Micap and Competent Adviser.
From VRPs to AI: Innovation takes centre stage at day two of Fintech Talents
Payments innovation and the regulation of AI were hot topics of discussion at this year’s Fintech Talents Festival.
UK fintech Fnality raises £77.7m in Goldman Sachs and BNP Paribas-led Series B
The fintech’s Series B also saw participation from existing investors BNY Mellon, UBS and Nasdaq Ventures.
FinTech Wales seeks new CEO as Sarah Williams-Gardener transitions to chair
Effective January, Williams-Gardener succeeds former Confused CEO Louise O’Shea as chair of the organisation.
Global enforcement fines rise to $5.65bn in Q3 2023
The first two quarters of this year saw global enforcement fines amount to $1.5bn and $2.27bn, respectively.
AI, BaaS and identity: Inside day one of the Fintech Talents Festival
Hosted at The Brewery, London, the festival has this year attracted over 2,000 delegates and 400 speakers.
Landsbankinn partners Meniga to launch open banking-powered PIS and AIS services
The bank claims the new services mark a “significant breakthrough in the realm of open banking within Iceland”.
Wise temporarily pauses new business onboarding in Europe
The company says it is “working to resume onboarding businesses in Europe as a priority”.
FCA calls for “robust frameworks” to detect fraud and support victims
The regulator recently reviewed how firms tackle fraud and handle complaints from customers.
OakNorth taps Coconut founder Sam O’Connor to lead business banking unit
O’Connor joined the bank five months ago following GoSimpleTax’s acquisition of Coconut.
UK challenger Monument Bank completes £40m Series B raise, eyes more funding
Dubai Investments has acquired an additional 7.68% equity stake in the bank.
