Sainsbury’s sells core banking business to NatWest
The deal includes the retailer’s personal loan, credit card and retail deposit portfolios.
UK
Zilch lands £100m in securitised debt financing ahead of planned IPO
Zilch is preparing to launch its IPO in the next one to two years.
Fintech start-up ZORRZ selects Clowd9 to process payments for new AI-powered BlueAccess credit card
ZORRZ is preparing to launch a financially inclusive credit card.
Encompass Corporation names Andrew Dunn as new VP of engineering
Dunn will guide the “strategic delivery” of Encompass’ CDI platform.
Revolut launches bond investing in partnership with UAE’s GTN
Bonds join Revolut’s investment offering of ETFs, and US and EEA shares.
Abacus Group acquires Tribeca Technology Group to strengthen UK presence
The acquisition follows Abacus’ GoVanguard purchase last year.
Atom Bank’s operating profit climbs 600% after “best year yet”
The UK challenger recorded an operating profit of £27 million last year.
TrueLayer names former Banked exec Lisa Scott as new chief strategy officer
Scott previously served as Banked’s CEO for Europe.
Demystify Podcast: Demystifying data centres with Bruce Owen, Equinix
Demystifying the essential functions of data centres, including housing critical IT infrastructure.
Finbourne lands £55m Series B from Highland Europe and AXA Venture Partners
The funds are to be put to scaling the firm in APAC, US and Europe.
BIS and Bank of England team up to evaluate synchronised settlement in FX transactions
The initiative is scheduled to commence towards the end of 2024.
UK’s FCA imposes restrictions on e-money firm AstroPay
AstroPay blocked by the regulator from accepting new customer funds and providing payment services.
Avocado mint swirl for prime minister: lessons from UK election surveys on predictive customer satisfaction
The 2024 UK election surveys are treasure troves of insights into human behaviour, preferences, and trends.
ICYMI fintech funding round-up: Layer3, Sidekick, Elevate, Sahl, and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
The AI Summit: Real world AI
Use cases, pathways and challenges to implementation, and the evolving regulatory frameworks.
Starling Bank reports 50% revenue rise in third year of profitability
The performance comes ahead of Raman Bhatia’s instalment as group CEO this summer.
Earl Shilton Building Society hires Natalie Balderson as transformation change manager
Balderson will work to “strengthen digital options” for the building society’s 14,000-plus members.
NatWest prepares to introduce GenAI-powered virtual assistant Cora+ in collaboration with IBM
NatWest will introduce the service through a “12 week pilot to address learnings and updates”.
Former HSBC exec Roz Smith named as new COO of Broadridge International
Before joining Broadridge, Smith spent 18 years in various leadership roles at HSBC.
E-wallet provider Sticpay bolsters money transfer capabilities with UPI integration in India
Enabling UPI users in India to make domestic and international money transfers through Sticpay’s platform.
Finseta offloads non-trading subsidiary Capital Currencies to undisclosed buyer for £150,000
Finseta initially acquired the subsidiary in 2022 for £586,000, with a maximum total consideration of £3 million.
Barclays and Lloyds-backed loyalty app Bink enters administration
Bink had suffered significant losses for a number of years, with its closure to incur 46 job losses.
ICYMI fintech funding round-up: Fizz, Torpago, Sibill, WealthOS and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
LSEG names Pascal Boillat as new COO
Boillat replaces David Shalders who held the position for over four years.
PayTech Awards 2024: Final call for table bookings
Don’t miss out on this opportunity to be part of an extraordinary day filled with celebration and networking.
Agenda confirmed for Banking Tech Insights, 11 July, London
Join us for our Banking Tech Insights event on 11 July in London.
Handelsbanken taps Meniga to boost customer engagement in Norway
Meniga’s solutions will enable the bank to offer personalised financial insights to its customers in Norway.
Lydia selects Marqeta to power its new digital banking app Sumeria
Marqeta first partnered with Lydia Solutions in 2019 to power its peer-to-peer payments app.
Asia’s first full reserve digital bank, ORO Bank, launches in Bhutan powered by Finastra
The bank has partnered with Finastra to leverage its Essence solution in the cloud.
PSR names David Geale as new interim managing director after Chris Hemsley steps down
The PSR will commence the recruitment process for a new permanent MD after the UK general election.
New digital-only bridging lender Morpheus launches in the UK
Morpheus will initially provide bridging loans of up to £750,000.
FintechOS bags $60m in Series B+ investment round
The start-up claims it is “on track” to achieve break-even in 2024.
Allpay and The Bank of London partner to streamline payments for the UK social housing sector
Allpay provides a range of payment channels to approximately 90% of the UK’s leading 200 housing associations.
Monzo records first full year of profitability as it eyes international expansion
Monzo has reported a profit before tax of £15.4 million, compared to its £116.3 million loss in FY2023.
Funding Circle to cut 120 jobs in £15m cost savings drive
Oliver White, Funding Circle’s CFO, has also announced his intention to step down from his role.
Millennial wealth building platform Belong launches in the UK
The start-up launches with stocks and shares ISAs, GIAs, and a five-year amortising “Boost” loan option.
Saxo welcomes back Andrew Bresler as new UK CEO
Bresler previously held the position of deputy head of sales trading in Saxo’s Singapore office from 2016 to 2018.
European FMIs Clearstream, DTCC and Euroclear unveil tokenised asset framework
The framework also highlights the controls which will help firms mitigate governance and asset management risks.
ICYMI fintech funding round-up: Landytech, Frich Money, Swiipr and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
XYB announces Derek Joyce as new CEO ahead of Monese split
Joyce previously advised XYB on its upcoming split from Monese as well as its latest fundraising endeavours.
