Global fintech investment falls over H1 2023 amid economic turbulence but sector remains resilient
According to Innovate Finance data, $27.3bn was injected into the industry globally during H1 2023 through 1,714 deals.
UK
AI-driven financial services must also champion fraud prevention, FCA warns
Cybersecurity must develop in tandem with AI, the regulator’s chief executive said this week.
German fintech Moss taps GoCardless to power its UK push
The London-based bank payment company becomes the UK direct debit provider to Moss’ UK expansion.
Monzo reportedly eyeing merger with Nordic neobank Lunar
According to Bloomberg, the potential deal would form part of a European expansion push for Monzo.
UK fintech Suits Me looks to revive face-to-face banking with new digital service
The service’s arrival is a response to the failings of chatbots.
The Bank of London formally submits application for EU banking licence
The firm is setting up a new base in Luxembourg and will invest €200m in the country and across the wider EU.
Fiinu to scale back operations amid continued efforts to source fresh funding
Fiinu’s cost reduction plans include staff redundancies.
Unregistered crypto ATM operators continue to feel the wrath of the FCA
Investigations have been carried out at sites in East London, Leeds, Exeter, Sheffield and Nottingham.
Ten UK credit unions tap Engage for Faster Payments Service
The community banking platform’s FPS offering is projected to benefit 100,000 credit union members.
Legal & General extends cloud migration agreement with Kyndryl
The new seven-year agreement is to last until 31 March 2030.
GoCardless names Franck Cohen as first chairman of the board
GoCardless CEO says the appointment brings them the the ability to make “fast and effective decisions”.
Silverbird announces Stu Bailey as new CPO
Bailey’s appointment will seek to assist Silverbird in “liberating cross-border trade” for SMEs.
Thieves make away with $20m from Revolut following payment flaw
Flaws in its US and European payment systems meant that some declined transactions were wrongly refunded.
Humo and Credo Bank to pilot RTGS.global settlement service
The pilots will seek to streamline historically cumbersome cross-border settlement processes.
Platform One appoints former SEI operational director Terry Leavy as new COO
Leavy joins the company following a decade-long stint at US financial services firm SEI.
SumUp taps Form3 for access to UK Faster Payments, appoints CPO
SumUp has also appointed Anna Kuriakose as its new chief product officer (CPO).
Britcoin privacy preserved as Bank of England taps Nuggets for identity layer
The layer will maintain user privacy and offer protection from fraudulent activity and money laundering.
Nine UK banks tap Mastercard for new AI-powered fraud risk solution
Lloyds Bank, NatWest, Monzo and TSB are some of the UK banks partnering with Mastercard for its latest offering.
The Law Commission of England and Wales publishes recommendations for digital asset law reforms
The Law Commission has conducted the first-ever rigorous common law analysis relating to digital assets.
Moneycorp appoints Velizar Tarashev as new CEO
Tarashev, who joined Moneycorp as CFO in 2021, succeeds Mark Horgan, who will step down after 12 years as CEO.
Former Goldman Sachs partner joins Clowd9 as CFO
Christian Channell joins the cloud-native platform following a 25-year career at Goldman Sachs.
UK EMI The Payment Firm set to launch this summer
Services are expected to include cross-border payments, merchant services and card issuance, among others.
Corlytics snaps up Clausematch in latest regtech acquisition
The deal marks Corlytics’ second acquisition of the year after buying ING SparQ in January 2023.
UK challenger Tandem Bank secures £20m in funding
Tandem’s CEO says the capital “will put extra momentum behind our green lending proposition”.
Melton Building Society taps Finastra for digital transformation
This is the third building society client deploying Finastra’s Essence solution.
LendInvest secures £500m funding partnership with Chetwood Financial
LendInvest says the funding will fuel its buy-to-let and residential mortgage products.
LHV Bank names Rachelle Frewer as new CFO
Frewer will also join LHV Bank’s board of directors.
UK signs financial services cooperation agreement with EU
The MoU aims to establish an “ongoing forum” to discuss voluntary regulatory cooperation.
Over 150 senior-level executives set to join FinTech Futures’ 40th Anniversary Summer Party
We’re celebrating our 40th anniversary on Thursday 6 July at our spectacular summer party!
UK fintech TreasurySpring secures $29m Series B funding
The funding follows its $10 million Series A held in June 2021, and brings its total capital raised to $42 million.
UK paytech Ryft introduces in-person card payments to St Helena
Ryft says the small, remote island has “historically struggled” to access international payment platforms.
UK paytech Volt secures $60m in Series B funding
With the new funds, the company plans to expand into APAC and the US.
CFIT appoints Stephen Ingledew and Alex Marsh as independent non-executive directors
Stephen Ingledew is chairman of FinTech Scotland and Alex Marsh is the former head of Klarna UK.
Bankable acquires embedded finance platform Arex Markets
With the acquisition, Bankable will be able to embed credit and working capital into the payment flows of fintechs.
Demystify Podcast: Engine by Starling Bank with CCO Nick Drewett
Demystifiying the rationale behind Starling’s strategic shift to Banking-as-a-Service (BaaS).
Citi TTS taps Pismo to strengthen demand deposit account solutions
Citi will initially deploy Pismo’s cloud-based core solutions in the US market.
Europe funding round-up: DJUST, Apron, Trezy and more
A handy round-up of the recent funding endeavours of fintech companies across Europe.
UK challenger Zopa appoints new COO and CTO
Kate Erb joins as chief operating officer (COO) and Peter Donlon as chief technology officer (CTO).
Looking in the future of financial services at AI Summit
How does an industry like financial services make sense of all of the AI potential?
Digital banking tech provider Backbase acquires wealthtech Nucoro
Nucoro’s offering will be incorporated into the Backbase Engagement Banking platform.
