TSB names Banco Sabadell exec Marc Armengol as new CEO
Armengol will succeed Robin Bulloch, who is retiring after three years at the helm of TSB.
UK
Standard Chartered exploring potential sale of wealth and retail banking units in Botswana, Uganda and Zambia
Standard Chartered says the potential sales will fund “incremental investment” in its wealth management business.
ICYMI fintech funding round-up: Habitto, Norbr, Tembo, and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Lightyear secures direct FCA authorisation, set to relaunch in the UK
Lightyear says it plans to roll out “a number of new products” in the UK, including ISAs.
IFX Payments hires former Barclays VP Adam Dowling as new COO
Dowling joins from Alpha Group, where he most recently served as MD for alternative banking solutions.
Crypto wallet start-up Deblock reportedly raises £13.3m in fresh funding
Deblock was founded by former Revolut and Ledger executives in 2022.
Macquarie Bank fined £13m by UK’s FCA
The FCA has fined MBL for “serious failings that allowed one of its employees to record over 400 fictitious trades”.
Monzo names former Nubank exec Tom Oldham as new group CFO
Alongside Oldham’s hiring, Monzo has appointed Mark Newbery as its new UK CFO.
HSBC Innovation Banking UK names Emily Turner as new CEO
Turner succeeds Erin Platts, who will step down in December to become CEO of Octopus Ventures.
CellPoint Digital bags $30m to fuel development of new payment orchestration platform
CellPoint Digital says the funding will support the launch of its Offer Order Service Delivery platform.
Revolut unveils 2025 product vision, including mortgages, an AI assistant, and branded ATMs
Revolut Business will also introduce its first business credit product in Europe next year.
UK’s Hope Macy completes purchase of lending software specialist Slick Solutions
Hope Macy is merging its machine learning APIs with Slick Solutions’ loan origination platform.
UK fintech Finastra investigating data breach impacting internal SFTP platform
Finastra says the incident was “limited to the one platform and there was no lateral movement beyond it”.
Finova launches Finova Broker for the UK intermediary sector
Finova Broker builds on the Mortgage Keeper CRM solution, provided by Finova’s business formerly known as eKeeper.
Close Brothers Asset Management goes live with Objectway’s portfolio management solution
Objectway says its tech will enable CBAM to “tailor and adapt services as client needs evolve”.
Nationwide taps HPE GreenLake for private cloud deployment
The migration of its on-premises IT estate is expected to cut Nationwide’s IT operating costs by 30%.
UK paytech Cardstream names Gurinder Sumra as new CFO
Sumra previously spent over six years as CFO of Elavon’s European payment-acquiring division.
SEB Embedded taps Thought Machine to power BaaS offering
SEB Embedded has delivered its first solution for Swedish supermarket chain Hemköp.
Market Harborough Building Society launches financial education app with Doshi
The building society has used Doshi’s white-label app to launch the new offering.
Navro secures FMSB registration to provide money transfer services to businesses in Canada
Navro (formerly known as Paytrix) has also secured licences in the UK and Ireland (EU) this year.
Modulr buys AP automation platform Nook, plans to launch Modulr AP solution in early 2025
Modulr AP, powered by Nook, is described as an “end-to-end solution for invoice management and AP automation”.
Mexico’s Albo partners Paymentology to expand digital payment services
Albo plans to launch a new initiative with Mastercard to boost digital payments in Mexico.
Revolut granted UK trading licence from FCA
Revolut now plans to launch new trading products covering UK and EU stocks and ETFs.
TrueLayer reportedly reduces headcount by around 25% to cut costs in push for profitability
City AM reports that TrueLayer cut 71 jobs in September, citing sources familiar with the matter.
Trust Payments appoints Laurence Booth as new CEO
Booth has been interim CEO at Trust Payments since September 2024 and first joined the company in 2021.
NatWest Group expands partnership with NCR Atleos for self-service banking upgrade
NatWest will modernise over 5,500 ATMs across the UK through the enhanced partnership.
ICYMI fintech funding round-up: Mutual Vision, Tako, Zeplyn, Tranched, and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
UK government announces reforms to boost financial sector growth
The Chancellor has revealed plans for a Digital Gilt pilot and “decisive action to advance open banking”.
Brian Harkin named new head of tech and innovation at Centrus
Harkin moves from London-based fintech Kynec, where he has been serving as CTO since 2022.
Klarna picks New York for upcoming IPO
Klarna has not yet disclosed the number of shares or expected price range of the offering.
Guide: Charting the course – understanding payment trends in the financial sector in 2024
Insights from extensive research on how UK consumers prefer to pay and the payment options currently offered by 200 financial services providers.
Prodigy Finance inks $310m funding facility with US DFC for cross-border student loans
Prodigy previously sourced a $250 million facility with the DFC in 2020.
Jeremy Nicholds steps down as CEO of UK paytech Judopay
Judopay was acquired by Italian banking group Banca Sella’s open finance subsidiary, Fabrick, last year.
LSEG taps IDVerse for AI-powered ID verification solutions
LSEG will deploy IDVerse’s Zero Bias AI offering alongside its Deepfake Defender AI solution.
Metro Bank fined £16.7m by the FCA for “financial crime failings”
The fine relates to historic deficiencies in the company’s transaction monitoring systems and controls.
Embedded investment platform Seccl hires Prerna Goel as new COO
Goel brings over 20 years of experience in fintech and banking to Seccl.
Travelex launches “major refresh” of 600 ATMs with NCR Atleos
The Travelex ATM network is to be replaced with NCR SelfServ and NCR Vision.
SIX Group agrees £194m deal to acquire UK’s Aquis Exchange
The deal will see each Aquis shareholder receive 727 pence in cash per share.
UK SME lender Iwoca bags £200m debt funding package from Citi and Waterfall Asset Management
Iwoca plans to double its Flexi-Loan limit to £1 million for medium-sized businesses.
Solaris sells Engage business to UK fintech Suits Me
Suits Me’s CEO says the migration of Engage customers has “already started and will be finished mid-January 2025”.
