ICYMI fintech funding round-up: Theia Insights, Lettuce, StackOne, Synnax and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
USA
CFPB to cap credit card late fees at $8 and increase accountability among issuers
The new limit is poised to save US consumers more than $14 billion a year.
New York Community Bancorp secures $1bn equity boost following Q4 2023 losses
NYCB has also made several high-profile appointments to its board of directors.
US neobank Dave achieves profitability over Q4 2023
In Q4 2023, the LA-based neobank generated a GAAP net income of $200,000 and EBITDA of $10 million.
Cotribute tapped by Clearwater Credit Union to streamline digital account opening and loan origination processes
The partnership will see Clearwater leverage Cotribute’s consumer and business digital account opening modules.
Fiserv reportedly in the running to acquire Shift4 Payments
According to a recent Reuters report, final bids for a potential takeover are due to arrive in the coming weeks.
US paytech Spreedly appoints Peter Dougherty as new president
Dougherty will oversee the firm’s go-to-market operations, including sales, marketing, and partnerships.
Deel acquires Africa-based payroll company PaySpace
Deel says it has also surpassed $500 million in annual recurring revenue since its inception in 2019.
CGS International in Singapore taps Broadridge for securities finance platform
The firm will leverage Broadridge’s Securities Finance and Collateral Management (SFCM) solution.
BaaS vendor Synctera lands additional $18.6m Series A cash injection
Going forward into 2024, Synctera plans to launch its new payment product SyncteraPay.
PayPal extends payment options for online SMEs with new solution
PayPal Complete Payments launches this week to online sellers in 22 markets worldwide.
California’s Edwards Federal Credit Union taps Apiture for consumer banking solution
The 62-year-old credit union has around 12,500 members across California’s Antelope Valley region.
Online pension provider PensionBee announces US expansion plan
PensionBee is partnering with an unnamed US financial institution to enter the US market.
Treasury Prime trims workforce amid strategic pivot to focus on direct-to-bank partnerships
The pivot comes a year after the firm completed a $40 million Series C fundraising round.
ICYMI fintech funding round-up: Embat, Slice, NayaOne, MoneyHash and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
VyStar Credit Union partners NCR Atleos for Allpoint ATM Network access
The Allpoint Network currently supports around 40,000 ATMs across the United States.
Green Dot receives proposed consent order from US Federal Reserve
Green Dot says the consent order relates “principally to various aspects of compliance risk management”.
Stax Payments announces Mark Sundt as new chief technology officer
Sundt succeeds Chris Staymates, who will return to his role as Stax’s chief innovation officer.
Webull set for Nasdaq public listing via $7.3bn SPAC merger
The merger between Webull and SK Growth Opportunities is due to close in H2 2024.
Northern Trust taps Finbourne Technology for data management solutions
Northern Trust will leverage Finbourne’s LUSID and Luminesce offerings.
FinovateEurope 2024: Digital transformation, shifting customer expectations and Africa’s fintech growth
Influential figures from across the financial industry assembled in London for the final day of FinovateEurope.
Citi names former JP Morgan exec Viswas Raghavan as new head of banking
Raghavan is due to take charge of the group’s investment, corporate and commercial banking unit.
Cross River Bank Group launches new investment banking unit
The group’s new investment banking unit will be co-led by Benjamin Samuels and Henry Pinnell.
Blackstone buys $1.1bn of US credit card debt from Barclays
Barclays says it will use the proceeds of the sale to fund an extension of its US lending activities.
BNY Mellon names Gary Delaney as new international CISO
Delaney will report to Matthew McCormack, who leads the bank’s Information Security Division.
Canadian paytech Helcim completes $20m Series B funding round
The recent round adds to the company’s $12.7 million Series A funding raised in 2022.
Quaint Oak Bank taps Finzly to modernise payments infrastructure
Quaint Oak aims to realise its modernisation ambitions by leveraging Finzly’s Payment Galaxy platform.
ICYMI fintech funding round-up: Zūm Rails, Pulsate, Monite, Spektr and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Africa and Gulf Bank partners Orion Innovation for Temenos core banking upgrade
The bank has opted to leverage Temenos Transact and Temenos Infinity for its digital upgrade.
Dayforce selects Green Dot as BaaS partner for on-demand pay solution
Green Dot will facilitate all banking services for Dayforce Wallet customers in the US.
Colombia’s Simetrik secures $55m Series B round led by Goldman Sachs
The recent cash injection adds to Simetrik’s $24 million Series A raised in 2022.
UK regtech Napier AI secures £45m funding from Crestline Investors
Napier AI claims that since 2021, its top-line revenue has grown at more than 30% year on year.
Teachers Federal Credit Union partners Corridor Platforms for credit decisioning tech
The New York-based credit union has signed for Corridor Platforms’ digital decisioning platform.
Commerce Bank taps Temenos for loan origination solution
Commerce claims Temenos will enable a “five minutes or less” end-to-end loan origination process.
FHLBank of Pittsburgh selects SimCorp Dimension for investment management
The bank has signed an eight-year agreement with the vendor for SimCorp Dimension.
Erica Gee appointed new COO of US payment solutions vendor NXTMoves
Gee has previously held senior manager positions at Moov Financial, Dime Bank and Geezo.
Fintech start-up Xalts grants Contour Network new lease of life with announced acquisition
Contour previously announced in October 2023 that it was to wind down operations as a result of insufficient funding.
Australia’s Summerland Bank taps nCino for loan origination solution
The bank will leverage nCino’s Cloud Banking Platform across its consumer and business lending operations.
JP Morgan and fellow Viva Wallet shareholder WeRealize exchange lawsuits
The lawsuits follow reports of disputes over Viva Wallet board nominations last month.
US hospitality fintech Toast to cut 550 jobs as part of restructuring plan
The fintech says the restructuring plan is intended to “promote overall operating expense efficiency”.
