Coventry Building Society reportedly eyeing Co-operative Bank takeover
Sky News reports that if the deal goes through, the combined entities will manage nearly £90bn in assets.
UK
Liberis bags $112m in debt financing to fuel expansion in North America and Europe
Liberis plans to go live in Canada, Germany and Poland in 2024.
Demystify Podcast: Demystifying BaaS banking with NatWest Boxed
Demystifying what is holding BaaS back from broader adoption and what it takes to create a successful BaaS venture.
Allica Bank partners Wise Platform for cross-border payment solution
The partnership will enable Allica’s business customers to make “transparent and low-cost” international payments.
Monzo co-founder Jonas Templestein departs after nine years
Templestein shared a letter he sent to his co-workers announcing his departure last week.
Konstantin Zaripov resumes role as managing director of Nebeus after five-year break
Zaripov initially departed the platform in October 2018, after a 15-month tenure as managing director.
Crypto.com lands EMI licence from the UK’s Financial Conduct Authority
Crypto.com says it now plans to roll out a suite of e-money products customised for the UK market.
UK fintech Plum signs strategic partnership with Greece’s Eurobank, lands €10m investment
Plum intends to grow its presence in Greece as well as the surrounding region.
New UK fintech start-up Kaldi aims to help millennials and Gen Z save and invest
Through an “easy-to-understand” app, Kaldi hopes to encourage people to start saving and investing earlier.
SoFi set to end crypto services, taps Blockchain.com as “strategic crypto partner”
SoFi’s cryptocurrency services will formally end on 19 December.
UK fintech Paysend lands $65m in fresh funding round
The round includes strategic investments as well as participation from existing investors.
Metro Bank to axe 20% of jobs and review branch opening hours in push to cut costs
The bank is due to cut around 800 jobs as it looks to save up to £50 million per year in costs.
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.
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.
