JP Morgan and fellow Viva Wallet shareholder WeRealize exchange lawsuits
The lawsuits follow reports of disputes over Viva Wallet board nominations last month.
USA
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”.
Capital One acquires Discover Financial Services in $35bn deal
The transaction brings together two of the largest card issuers in the US.
Personetics appoints Udi Ziv as new CEO as co-founder David Sosna steps down
Ziv has previously been CEO at Kissterra, Earnix and Pontis in recent years.
ICYMI fintech funding round-up: Fordefi, Mia Share, Kema, Coba and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
RockWallet bags former Wyre users after acquiring the firm’s full customer base
The companies have not disclosed the amount paid for Wyre’s customer base.
US Bank partners Pagaya Technologies for inclusive lending with AI
The bank is to instate Pagaya’s AI tech within its Simple Loan function.
Mission Lane appoints former board member Brandon Black as new CEO
Previous CEO Shane Holdaway will guide the firm’s transition as special advisor to Black.
PNC Bank to invest nearly $1bn to renovate and expand its US branch network
PNC plans to renovate more than 1,200 existing locations and open more than 100 new branches by 2028.
LPL Financial snaps up Atria Wealth Solutions for $805m
The acquisition will see LPL Financial take ownership of Atria’s seven broker-dealer subsidiaries.
Ripple acquires Standard Custody & Trust Company to strengthen regulatory licences
Ripple has recently announced custody partnerships with HSBC, BBVA and Zodia Custody.
Canada’s Float bags $37m credit facility from Silicon Valley Bank
The Toronto-based fintech says the new facility will be used to expand its Charge Card programme.
Digital business bank Grasshopper partners Greenlite for AI-powered due diligence tech
Greenlite’s tech will enable the bank to streamline manual data aggregation and client risk assessments.
US-based Primary Bank appoints Crystal Dionne as new CEO
Dionne first joined the bank eight years ago and has spent the last six years as its CFO.
Bank of America customers impacted by data breach through Infosys McCamish Systems hack
It’s thought that 57,028 of Bank of America’s customers have been impacted.
Spain’s Banco Sabadell selects NCR Atleos as ATM network partner
Banco Sabadell customers will now have access to the 1,400 ATMs NCR Atleos manages across Spain.
Trading Technologies branches out into clearing with acquisition of Ateo
The Chicago-based vendor expects to complete its acquisition of Ateo by 29 February.
Deadline extended for Banking Tech Awards USA nominations
You now have until Friday 23 February to get your nominations in.
ID verification fintech Data Zoo appoints new CEO
Charlie Minutella will lead the fintech’s operations from its New York office.
ICYMI fintech funding round-up: Navro, Finally, Cashinvoice, SUMA Wealth and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Jennifer Taylor joins Plaid as the company’s first president
Taylor joins the fintech from Cloudflare, where she served as CPO for the past seven years.
Nepal Clearing House selects ACI Worldwide to power National Payment Switch service
Nepal Clearing House expects to launch its NPS service in Q4 2024.
Pagaya secures five-year $280m credit facility led by BlackRock
The new facility consists of a $255 million term loan and a $25 million revolver.
Atlantic Money lands regulatory approval to expand money transfer services to North America and Australia
The fintech has been licenced to operate in Europe since 2022.
Chase plans to open more than 500 new branches and hire 3,500 staff by 2027
The bank also plans to renovate more than 1,700 existing locations across the US.
Oregon State Credit Union partners Bankjoy for account opening and loan solutions
The credit union has signed for the vendor’s online account opening and online loan application product suite.
Entrust in exclusive talks to acquire ID verification solutions provider Onfido
Reuters reports that the deal could potentially value Onfido at around $650 million.
RBC’s US subsidiary City National Bank hit with $65m fine from OCC
The OCC says the fine relates to “systemic deficiencies” in the bank’s risk management and internal controls.
ID Finance lands $150m debt financing headed by i80 Group
ID Finance claims the financing marks its “largest ever financing round” to date.
Vast Bank exits cryptocurrency market, closes crypto banking mobile app
The bank disabled and removed the Vast Crypto Mobile Banking app from app stores on 31 January.
Raymond James Bank to deploy ICE Mortgage Technology’s lending solution Encompass
The software will support the origination of mortgages for high-net-worth borrowers.
B2B finance automation platform Ramp acquires Venue to revamp procurement product
The value of the Venue acquisition has not been disclosed.
Canoe Intelligence appoints former CIA analyst Noel Calhoun as new CTO
Calhoun joins the fintech from Onsights.io, where he held the role of CTO for just under two years.
ICYMI fintech funding round-up: Kafene, General Index, Mesh and Netcetera
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Southern California Bancorp and California BanCorp trigger $233.6m “true merger of equals”
The holding companies currently control Bank of Southern California and California Bank of Commerce.
Blackhawk Network inks agreement to acquire Rewards-as-a-Service platform Tango Card
The acquisition, which will combine both parties’ rewards platforms, is expected to close later this year.
Jack Dorsey’s Block lays off staff across Cash App, Square and foundational teams
The cuts are to be actioned with immediate effect, according to a staff memo from Dorsey.
Conversational AI platform Kore.ai raises $150m funding to fuel growth
The funding will enable Kore.ai to scale its workforce and further develop its product offering.
PayPal to trim workforce by 9% over 2024 in bid to streamline business
PayPal president and CEO Alex Chriss says the cuts aim to “reduce complexity and duplication”.
YouLend secures £4bn private securitisation deal with JP Morgan
The deal will enable YouLend to provide additional revenue-based financing to SMEs.
