UK payments app Cardeo to shut down
In an announcement on its website, Cardeo says it failed to secure funding “required to continue as a business”.
UK
Travelex names ex-HSBC exec Jackie Uhi as global retail director
Travelex CCO Cameron Hume is also transitioning into the role of global wholesale director.
The Bank of London names Frankie Woodhead as new chief product officer
Woodhead joins from 10x Banking, where he worked for over five years following a decade-long stint at Barclays.
Two weeks until FinTech Futures’ AI Insights networking morning
Join our exclusive panel discussion and networking event, AI Insights, 22 November.
UK challenger bank OakNorth launches new business banking offering
OakNorth’s new product is currently in a phased beta, with businesses being invited to sign up to a waitlist.
UK paytech Volt brings in former Stripe Europe CEO Matt Henderson as special advisor
Volt says Henderson joins at a “critical inflection point” for the company.
Monzo hires Brolly founder Phoebe Chibuzo Hugh to lead its “charge into insurance”
Hugh founded digital insurance platform Brolly in 2016, which was acquired by Direct Line Group in 2020.
Tandem Bank co-founders team up to launch low-fee wealth management app Prosper
Currently operating as an invite-only service, Prosper is slated for public launch in Q1 2024.
Klarna to establish UK holding company in preparation for billion-dollar IPO
Klarna describes the UK holding company as “an important early step on a journey towards an eventual IPO”.
NatWest engages IBM to revamp chatbot service with generative AI
Cora+ leverages generative AI to draw on multiple different information sources to answer customer queries.
Regtech Qomply hires former FCA regulator as director of transaction reporting
The company describes Sophia Fulugunya as “a front-line expert in transaction reporting”.
UK agriculture-focused challenger Oxbury Bank lands £100m from British Business Bank
Oxbury Bank provides flexible lending and asset finance solutions specifically for the needs of farming businesses.
Qatar’s CQUR Bank partners Finastra to power new online corporate banking portal
The bank’s new portal will service its corporate clients with digital workflows and host-to-host integration solutions.
Atom Bank on track for balance sheet growth following £100m equity raise
The bank’s “long-term” shareholders, BBVA, Toscafund and Infinity Investment Partners, participated in the raise.
Dutch paytech Mollie receives UK payment institution licence from the FCA
Mollie CEO Koen Köppen says securing the new licence is “a huge milestone”.
Revolut appoints former Molo chief Francesca Carlesi as new UK CEO
Carlesi will lead Revolut NewCo UK, the entity that has applied for the fintech’s UK banking licence.
UK Finance calls on government to form new quantum computing taskforce
The taskforce would seek to explore the “multibillion-pound opportunities” of a quantum-enabled economy.
Mangopay secures UK EMI licence from the FCA
The authorisation will enable Mangopay to offer its full suite of services to new and existing UK customers.
HM Treasury sets out phased regulatory approach for stablecoins
Legislation covering “activities relating to fiat-backed stablecoins” will arrive early next year.
Regulators of UK, Singapore, Switzerland and Japan launch collaborative effort to explore digital asset use cases
Project Guardian aims to share knowledge about the benefits and risks of asset and fund tokenisation.
UK core banking tech vendor Thought Machine cuts workforce by 8%
The job cuts are expected to impact around 50 roles predominantly in its sales and marketing departments.
Ziglu founder Mark Hipperson rejoins company as executive chairman
Kevin Hanley and Mark Jenkinson are also joining Ziglu as co-CEOs.
UK fintech Railsr gets back on track with $24m funding
The capital came from existing investors including D Squared Capital and Moneta Venture Capital.
LSEG ditches legacy finance systems for Oracle Cloud
The group aims to make use of Oracle’s enterprise performance management and planning functions.
BNP Paribas taps Lenvi to manage risk for factoring and receivables finance
BNP Paribas will deploy Lenvi’s Riskfactor product portfolio in eight countries across Europe.
UK challenger Monzo reportedly in talks to sell £300m stake at £3.5bn valuation
According to Sky News, Monzo is in discussions with a number of blue-chip investment funds over a share sale.
Saudi fintech Hala names former Revolut exec Saleem Arshad as CTO
Hala says Arshad’s experience will be “pivotal” to its expansion efforts in the UK and Europe.
Arteria AI bags $30m to help financial institutions extract data from documentation
The Series B round was led by GGV Capital and takes the start-up’s total funding to date to $50 million.
Exclusive: Monese drops Thought Machine’s core banking solution Vault in favour of homegrown XYB platform
Monese’s Santosh Radhakrishnan and Bhavik Sanghvi discuss the reasons behind the switch with FinTech Futures.
Blackbullion taps Bud to streamline higher education student finance applications
Blackbullion will deploy Bud’s Assess solution and its open banking and transactional AI tech.
Liberum Wealth goes live with Profile’s Axia Custody solution
Liberum will utilise the tech to improve the management and personalisation of its custody and execution operations.
US Bank subsidiary Elavon lands UK banking authorisation
With the licence, Elavon intends to offer authorisation, settlement, card machines, and banking services in the UK.
Colombia’s Nequi taps TerraPay for international remittances
The partnership will extend the app’s remittance network to over 200 countries worldwide.
Scottish challenger Alba Bank taps ClearBank for SME payment management
With the ClearBank partnership, Alba Bank aims to offer “near real-time payments” to its customers.
Al Rayan Bank goes live with Confirmation of Payee solution from obconnect
The PRA directed the bank last year to instate a CoP system by 31 October 2023.
UK paytech Thredd appoints Jim McCarthy as new CEO
McCarthy joined Thredd in January this year as executive vice president – global head of product and sales.
Banking Tech Awards 2023 sponsorship opportunities
Unmissable sponsorship opportunities – digital and physical – at the upcoming Banking Tech Awards on 30 November.
UK’s FCA places partner onboarding restrictions on embedded payments platform Modulr
Modulr is working to ensure it meets evolving regulatory requirements following a period of growth.
ClearBank designates Jonny Fry as digital assets strategy lead
In his new role, Fry will be tasked with developing the bank’s position within the digital assets market.
How the UK’s FCA is set to scrutinise banks’ treatment of PEPs with new review
Dr Henry Balani of Encompass Corporation discusses the impact of the review on the UK banking system.
