JP Morgan Payments head Takis Georgakopoulos to step down after 17 years at the bank
Umar Farooq and Max Neukirchen have been named co-heads of global payments, effective immediately.
USA
CSG acquires Florida-based paytech iCG Pay in $17m deal
The deal also includes additional earn-out sums tied to performance goals.
Turkey’s Papara taps DriveWealth for fractional investing solution
Papara will leverage DriveWealth’s Brokerage-as-a-Service tech to launch a new US stock investment product.
Dutch neobank Bunq enters partnerships with Mastercard and Nvidia
The bank is utilising Mastercard’s open banking platform and Nvidia’s accelerated computing and AI capabilities.
Visa and Mastercard set to pay $197m to settle US ATM fee lawsuit
The settlement will see Visa pay $104.6m, while Mastercard will pay $92.8m.
US paytech start-up Forward lands $16m seed round
Forward aims to collaborate with SaaS firms to increase their revenue by “two to three times”.
A night of celebration: Banking Tech Awards USA 2024 winners announced
Congratulations to all the winners at this year’s Banking Tech Awards USA!
California’s CBC Bancorp to acquire Bay Community Bancorp for $122m
CBC Bancorp will purchase Bay Community Bancorp in an all-cash deal valued at $14 per common share.
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.
Swedish climate fintech Doconomy bags €34m in Series B funding
The funds have been earmarked to fuel the company’s expansion in North America.
IPC appoints Kurt Adams as new CEO
Adams will succeed Bob Santella following his six-year tenure in the role.
US fintech Solutions by Text lands $110m in growth financing
The firm claims to be the world’s first “FinText” company.
Commonwealth Bank of Australia to pilot NameCheck solution on JP Morgan’s Liink network
The collaboration aims to “help validate bank account details used in international payments to Australia”.
Comerica Bank & Trust reaches formal agreement with US OCC over enforcement action
The OCC has ordered the bank to create a compliance committee as part of the action.
Remittance start-up Félix Pago bags $15.5m Series A funding
The firm enables Latino workers in the US to send money abroad via WhatsApp.
Rich Data Co inks first US deal for AI decisioning platform with M&T Bank
North America’s sixth-largest commercial bank has tapped the platform to “detect more early warning signs” in lending.
Stanbic Bank Kenya set for Temenos core banking upgrade with Orion Innovation
Stanbic Bank Kenya first went live with Temenos’ core banking tech in 2010.
CFPB says BNPL firms must comply with credit card consumer protection rules for billing disputes and refunds
BNPL firms will now be required to investigate disputes, refund returned products and provide billing statements.
FinovateSpring 2024: Rethinking customer experience and boosting diversity in financial services
FinovateSpring 2024 concluded on Thursday after a day filled with thought-provoking panels and keynotes.
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.
OUCU Financial Credit Union to migrate to Tyfone’s nFinia digital banking platform
The $483 million-asset credit union is also making use of Tyfone’s Skip-a-Pay and Quick Pay solutions.
BBVA partners OpenAI to deploy ChatGPT among its employees
BBVA has begun deploying 3,000 ChatGPT Enterprise licenses among its employees in Spain.
Migrant banking platform Majority lands $20m in “push towards profitability”
In addition to the funding, the platform has also announced Abhi Pabba as its new chief risk officer.
FinovateSpring 2024: Mobile payments and understanding Gen Z dominate day two
FinovateSpring 2024 sustained its momentum over day two with a line-up of informative debates and keynotes.
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.
FinovateSpring 2024: GenAI and future fraud strategies in focus on day one
Industry leaders convened in San Francisco on Tuesday to kick off FinovateSpring 2024.
US CFPB sues SoLo Funds for allegedly “deceiving borrowers about the total cost of loans”
The regulator says it is suing the firm for “deceiving borrowers and illegally extracting fees”.
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”.
Real estate investment management start-up Agora lands $34m Series B
Agora will use the funding to “accelerate its expansion efforts” and further develop its product offerings.
Visa seeks to “revolutionise the card” with array of new product launches
New products include a Passkey service, Visa data tokens and the Visa Flexible Credential for payments.
eBook: Future-proof your fintech – strategies to succeed in 2024 (and beyond)
Download this free e-book to unlock fintech success: optimize CX, boost retention, and drive profit with innovative strategies.
Cache Valley Bank in front-to-back office tech revamp with Finastra
Cache Valley Bank also plans to migrate all on-premises software to the cloud over time.
Paytech start-up Aeropay raises $20m Series B for platform and partnership development
The US-based start-up has also introduced its new “homegrown bank aggregator” called Aerosync.
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.
US fintech Yendo secures $165m in mix of debt financing and equity
The funding consists of $150 million in debt financing and $15 million in equity.
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”.
Commerce Bank goes live with instant payment service FedNow through Temenos Payments Hub
The bank has also tapped Temenos’ US Model Bank to “meet the unique business needs of the US market”.
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.
Broadridge acquires Securities Industry Services business from Kyndryl
Kyndryl will provide the SIS business operated under Broadridge Canada with managed services.
