Mexican BNPL fintech Aplazo bags $70m in equity financing
Aplazo has now secured over $100 million in equity financing since its formation in 2020.
USA
Wealthtech start-up FutureMoney launches tax-advantaged investing platform
FutureMoney’s flagship offering is its tax-advantaged Junior Roth IRA account, which leverages 529 plans.
Corpay to purchase AP automation platform Paymerang from Aldrich Capital for $475m
The transfer of Paymerang from Aldrich Capital to Corpay is expected to close this quarter.
New US paytech Fractal launches with aim to become “SaaS companies’ preferred payment method”
The start-up’s solution seeks to provides SaaS firms with a pre-built embeddable payment service.
ICYMI fintech funding round-up: Fundcraft, Volta, Swypex, SAVR and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Former Bank of America MD Mieko Shibata named new R&T Deposit Solutions CIO
Shibata has previously served as an MD at Morgan Stanley, JP Morgan, and Bank of America.
CFPB fines Chime $3.25m for customer refund delays
Chime is to also pay “at least $1.3 million in redress to harmed consumers”.
WaFd Bank to deploy Fiserv’s CashFlow Central for small business customers
The digital payment and cash flow management solution is the result of Fiserv’s partnership with Melio.
New Peoples Bank taps Jack Henry for core processing
The bank is to adopt Jack Henry’s core processing solution and digital banking platform Banno.
Nepsis brings Amanda Butler in-house as first CTO
Butler has served as an outsourced consultant for Nepsis for over a decade.
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”.
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”.
FINRA fines SoFi $1.1m after consumer identification flaws led to multi-million dollar heist
SoFi Money – the unit targeted by fraudsters – was ultimately closed by the fintech in June 2022.
Digital platform Crowded deploys Visa Direct for international money transfers
The capability enables the platform’s users to transfer funds to any eligible Visa account globally.
Start-up Swaystack launches personalised engagement platform
The platform seeks to enable banks and credit unions to cultivate personalised digital experiences.
JP Morgan Chase to pay additional $100m penalty to US regulator over trade surveillance data gaps
The bank was previously hit with a $348 million fine from the OCC and FRB in March.
Libro Credit Union to transition to nCino’s cloud banking platform
The platform will support Libro with loan origination, customer onboarding and deposit account opening.
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.
Securitize secures $47m funding round led by BlackRock
The investment adds to the $48 million raised during Securitize’s Series B funding round in 2021.
Former Thomson Reuters exec David Larson named Feedzai’s new CFO
Larson previously spent over eight years at Canadian multinational information corporation Thomson Reuters.
BNI Madagascar assigns Temenos cloud core implementation to Orion Innovation
The bank says it’s currently engaged in a “digital modernisation journey” for its SME clients and retail customers.
FloQast hires nCino exec Josh Glover as president and CRO
Glover has served as CRO of nCino since 2019, and became its president in 2021.
Franklin Templeton partners Microsoft to build “advanced financial AI platform”
The firm will leverage Microsoft’s Azure AI services, including its AI Search and AI Document Intelligence functions.
Barclays reportedly leading the race to take over GM credit card programme from Goldman Sachs
Barclays was a bidder for the programme back in 2020 before Capital One eventually sold it to Goldman.
UMB Financial Corporation acquires Heartland Financial in $2bn deal
The firms expect the deal to be finalised in the first quarter of 2025.
Iowa’s Affinity Credit Union taps Mahalo Banking to enhance digital banking offerings
The credit union is also converting its core system to Corelation Keystone.
Digital lending platform Blend Labs bags $150m funding from Haveli Investments
Blend will use the cash to repay “all amounts payable” under its existing credit agreement.
Vatic AI hires former Mastercard exec Dilip Krishnan as CEO and president
Krishnan will also serve as a member of Vatic AI’s board of directors and will remain situated in Singapore.
White paper: Redefining banking for the digital future
Learn how to harness digital-first, on-demand banking to increase bottom lines.
Inclusive instant payment system Higala launches in the Philippines
The new system is powered by the open-source payment platform Mojaloop.
Renasant Corporation promotes president and COO Kevin Chapman to CEO
Kevin Chapman will succeed Renasant’s incumbent CEO Mitchell Waycaster in May 2025.
UK online SME lender Capify bags £100m credit facility
The new facility from Pollen Street Capital will support the lender’s future growth plans.
Solid Financial Technologies reportedly settles dispute with FTV Capital
Solid will reportedly buy back FTV’s stake in the start-up in full, according to Fintech Business Weekly.
Republic First Bank closed and sold to Fulton Bank by US regulators
Fulton Bank will “assume substantially all of the deposits and purchase substantially all of the assets” of the bank.
Paystand buys Teampay to enhance B2B payments platform with corporate spend management
Partially financed by Stifel Venture Banking, the deal marks Paystand’s second acquisition in two years.
Stripe to go live with USDC stablecoin payments this summer
The service will enable customers to transact USDC stablecoins via Solana, Ethereum and Polygon.
ICYMI fintech funding round-up: Fintoc, Bokra, RockFi, Bump and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Former Tesla exec Tim Newell to spin off Aspiration’s consumer financial services division
The new standalone company will act as an independent neobank offering environmentally sustainable products.
OakNorth launches SMB commercial cards with Marqeta platform
The new offering will also include deposit accounts and automation tools for bill payments.
UK regtech ComplyAdvantage snaps up Golden to strengthen financial crime intelligence offering
The deal will also see VC firm Andreessen Horowitz become a shareholder in ComplyAdvantage.
