CFPB sues Zelle operator and major banks for “widespread fraud” on payment network
The lawsuit comes as the CFPB advances its agenda before its anticipated overhaul by the Trump administration.
USA
The latest fintech news, resources and expert analysis in the USA by the leading intelligence provider for the worldwide fintech community.
US fintech Bureau raises $30m Series B led by Sorenson Capital
Bureau will use its funding to enhance its AI capabilities and expand beyond its “current focus” on Asia.
ICYMI fintech funding round-up: Sourcefin, Volume, Leap Financial, and Juicyway
A handy round-up of the recent funding endeavours of fintech companies across the globe.
US fintech Chime reportedly submits confidential filing for potential 2025 IPO
Bloomberg reports that Chime is targeting 2025 for its public debut, citing sources familiar with the matter.
Zest AI lands $200m growth investment, eyes “high impact M&A opportunities”
The deal marks Insight Partners’ third and largest investment in Zest AI to date.
US embedded finance fintech Parafin secures $100m in Series C funding round
Parafin’s $100 million Series C was raised at a $750 million valuation.
Morgan Stanley taps Wise for corporate cross-border settlements
Morgan Stanley can now offer its corporate clients instant cross-border settlements through Wise Platform.
US fintech Current bags $200m in fresh funding
The company says the new funding will help “accelerate growth and fast-track profitability in 2025”.
US BNPL fintech Affirm secures $4bn capital partnership with Sixth Street
The deal is the largest capital commitment Affirm has secured to date.
FIS reportedly set to acquire UK-based fintech Demica for around $300m
Sky News reports that an official announcement on the deal is expected in the coming days.
US TaaS provider Gigs lands $73m Series B led by Ribbit Capital
The company says it will use the capital injection to “expand its geographical footprint”.
Jiko raises $29m Series C, announces new board additions and advisory committee
The funding follows a $40 million Series B led by Red River West in 2022.
First Abu Dhabi Bank taps Broadridge to build out securities finance business
The bank has selected Broadridge’s Securities Finance and Collateral Management solution.
ICYMI fintech funding round-up: Brighty, Just, Finny, Prosper, and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
US financial health fintech Brigit acquired by Upbound Group in deal worth up to $460m
Founders Zuben Mathews and Hamel Kothari will continue to lead the company as a “business segment” of Upbound.
Shift4 buys UK paytech Card Industry Professionals
The deal adds to Shift4’s growing list of acquisitions this year.
Habib Bank AG Zurich selects nCino platform to power UK buy-to-let lending business
HBZ UK will deploy nCino’s Cloud Banking platform as part of the partnership.
Members Development Company appoints NCR’s Ned Tobey as new CEO
Tobey will succeed the position from Jeff Kline, effective January 2025.
Cybersecurity specialist Gen Digital acquires MoneyLion in $1bn deal
Gen says the acquisition is expected to close in the first half of its “fiscal year 2026”.
LexisNexis to acquire deepfake detector IDVerse for undisclosed sum
The transaction is set to close in early 2025, with IDVerse joining LexisNexis Risk Solutions Business Services.
Ibanera launches US prepaid card programme with FIS
The cards enable multi-currency purchases through the global Visa network.
Mexico’s Klar acquires assets of B2B payments and financing platform Tribal
The deal includes Tribal’s payment and financing solutions, business intelligence tools and risk models.
ICYMI fintech funding round-up: Sandbox Wealth, ThreatFabric, Centrapay, and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Pipe strengthens leadership team with four key appointments
Nate Wiger has been named as CTO and Claurelle Rakipovic as CPO.
Corpay buys cross-border solutions provider GPS Capital Markets, unloads POS business to PDI Technologies
The deal to acquire GPS Capital Markets was first inked in June this year.
Lumin Digital bags $160m in growth equity
The round was led by Light Street Capital, NewView Capital and Partners Group.
Uptiq.AI acquires financial data integration fintech UpSwot for undisclosed sum
Uptiq.AI will now integrate UpSwot’s financial data gateway into its AI Workbench, which launched last month.
Solidarity Community Federal Credit Union partners Mahalo Banking for digital banking upgrade
Mahalo’s online banking tech will integrate directly with the credit union’s Corelation Keystone core banking system.
US digital banking platform Milli Bank closes down
Milli Bank, which closed on 15 November, offered a savings and spending account.
Video: Mambu at Money20/20 USA 2024 – Accelerating digital transformation
Mambu’s Anshul Verma and Deloitte’s Manpreet Singh discuss how FIs can boost their digital transformation.
Citi separates Banamex from institutional banking business in Mexico
The separation comes as Citi “continues to actively work” on the proposed IPO of Banamex.
Deel boosts European payments infrastructure with acquisition of Atlantic Money
The move follows Deel’s acquisition of South Africa-based payroll and HR company PaySpace back in March.
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.
US wealthtech Range lands $28m Series B funding round
The round, which was led by Cathay Innovation, brings Range’s total funding to date to $40 million.
Autotruck Financial Credit Union selects Sharetec for core banking software and digital member tools
The credit union will utilise Sharetec’s solutions to enhance the digital banking experience for its members.
Cardless secures $30m funding round led by Activant Capital
The fresh capital brings Cardless’ total equity funding to date to over $90 million since its inception in 2019.
Sweden’s TF Bank selects Nice Actimize for AML SaaS solutions
TF Bank has tapped Nice Actimize for its cloud-based SaaS AML Essentials offering.
Video: Socure at Money20/20 USA 2024 – Powering ID verification and risk decisioning in financial services
Socure’s Johnny Ayers discusses the evolution of the digital ID verification landscape at Money20/20 USA 2024.
Ally Financial reportedly considering sale of credit card business
Ally Financial first acquired the business, then known as Fair Square Financial, for $750 million in 2021.
Moody’s expands lending tech suite with acquisition of Numerated Growth Technologies
Moody’s has maintained a partnership with Numerated since January this year.
