Intelligent Money enters administration with key assets sold to digital savings platform Quai
Richard Heis and Edward Boyle of Interpath Advisory were appointed as joint administrators on 28 May.
UK
Paymentology hires former Superscript exec Tim Joslyn as new CTO
Joslyn brings over 25 years of tech experience to the role and succeeds interim CTO James Letley.
UK challenger SilverRock lands banking licence with restrictions from PRA following £50m raise
The new bank says it plans to start lending “later this year”.
Stephen Bird to exit Abrdn after four years as group CEO
Jason Windsor, who joined Abrdn last year as group CFO, is to step in as interim group CEO.
LGT in Liechtenstein taps Finastra for instant payments
Finastra says the move will enable LGT to meet the EU instant payments regulatory timeline.
FE fundinfo snaps up wealth management fintech Dericon
The deal marks FE fundinfo’s seventh acquisition in three years.
ICYMI fintech funding round-up: Kudos, Teal, WeMoney and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Payments fintech Vitesse raises $93m Series C funding to fuel US expansion efforts
Vitesse has also appointed former 10x Banking chief Curt Hess as its new US executive president.
Citi fined £61.6m by UK regulators for “failures in its trading systems and controls”
The total penalty consists of a £33,880,000 fine from the PRA and a £27,766,200 fine from the FCA.
UK’s PSR says Visa and Mastercard face “no effective competition” for core scheme and processing services
The findings are from the regulator’s newly published interim report on scheme and processing fees for cards.
UK challenger Chetwood Financial acquires lender CHL Mortgages for Intermediaries
Chetwood states that the purchase will complement its forthcoming ModaMortgages proposition.
JP Morgan Chase commits additional £40m to boost economic growth in the UK
The investment aims to “help connect young people and underserved communities to economic opportunities”.
UK challenger GB Bank lands £85m investment
The bank projects that the new investment will allow it to increase its lending to £500m over the next year.
Interview: How Project Nemo is working to accelerate disability inclusion in the UK fintech industry
We chat with Joanne Dewar, head of Project Nemo, about the need for greater disability inclusion in UK fintech.
ICYMI fintech funding round-up: Ekko, Layer, MNZL, Panax and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
HSBC UK partners accounting software provider Ember for My Business Finances tool
The tool aims to help small businesses comply with the UK’s upcoming Making Tax Digital initiative.
AI-powered regtech Cube acquires global regulatory intelligence enterprises from Thomson Reuters
Through this acquisition, Cube aims to “set a new bar for the industry in regulatory automation”.
The UK’s digital identity crisis
The UK needs to prioritise and accelerate digital identity adoption to avoid falling behind.
UK challenger Tandem appoints Suavek Zajac as new CTO
Zajac’s most recent positions include serving as CTO at Blackberry and the UK-based fintech Railsr.
Avidbank partners Corserv to launch commercial credit card programme
The bank will utilise Corserv’s Account Issuer solution to power its new credit card offering.
Marine financing fintech Salt granted FCA approval and names new CRO
In addition, the fintech revealed it was on the hunt for additional investors for its ongoing seed funding round.
Adam Dodds to step down as CEO of stock trading app Freetrade
Freetrade COO and co-founder Viktor Nebehaj is poised to assume the CEO role moving forward.
What are the strengths, weaknesses and concerns around open banking?
The industry must ensure that open banking tech serves the strategic needs of consumers and institutions.
How UK building societies are finding balance amid the rise of digital
It’s estimated that the UK’s 43 active building societies serve approximately 26 million people.
Suffolk Building Society taps Finova to power mortgage offering
The mutual is to integrate Finova’s Apprivo mortgage originations banking platform.
TerraPay appoints network head amid new partnership with MultiPass
Hassan Chatila has been named as VP and global network head, joining from Western Union.
Basware acquires invoice management and statement reconciliation platform AP Matching
The acquisition will also see Basware integrate AP Matching’s managed services division.
UK lender Abound secures £800m in mix of equity and debt financing
The London-based firm previously secured £500 million in equity and debt financing last year.
Equals Money to power Chorus TM’s new financial management platform for the music industry
Chorus TM’s next step is a full US launch, which is scheduled for the coming months.
Ecology Building Society set for 2025 core banking overhaul with Monument Technology
Ecology Building Society says technology modernisation will help “attract future customers at pace and scale”.
Monzo secures additional $190m funding from new and existing investors
The digital challenger had previously raised $430 million in March.
NAB partners UK fintech Banked to boost merchant adoption of A2A payment solutions
NAB says the first group of business clients to adopt A2A payments will go live “in the first half of 2024”.
CIBC Mellon taps Duco for AI-powered data automation tech
The firm will leverage Duco’s tech to “manage data effectively while reducing operational risk”.
Iwoca lands £270m debt funding package from Citibank and Barclays
The lender says it plans to use the funding to expand its operations in the UK and Germany.
Lloyds Banking Group collaborates with Red Hat to adopt modern open source engineering practices
Lloyds is aiming to boost its “developer experience, software quality, and speed to market”.
Mambu to power Canada’s Brunswick Credit Union amid MV Solar UK launch
The credit union’s implementation of Mambu in Canada arrives in tandem with the UK launch of MV Solar.
Ireland’s Corlytics snaps up Deloitte UK regtech platform
The regtech platform helps institutions manage, structure, and source compliance and regulatory change.
AYA Bank taps SmartStream for transaction lifecycle management solution
The bank has selected SmartStream’s TLM Reconciliations Premium Digital Payments Control solution.
Globacap hires WealthKernel’s Brian Schwieger as new chairman
Schwieger also currently serves as the chair of the board and non-executive director of WealthKernel.
ICYMI fintech funding round-up: Backflip, Ansa, Salmon, Firenze and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
