Valley Bank CIO Stuart Cook leaves to join start-up True Digital Network as CEO
Cook previously served as chief innovation officer at Valley National Bank for 11 months.
USA
SoFi set to end crypto services, taps Blockchain.com as “strategic crypto partner”
SoFi’s cryptocurrency services will formally end on 19 December.
Denmark’s Mazepay taps ex-Mastercard exec Kevin Stanton to lead US drive
Stanton previously spent the best part of two decades in senior roles at Mastercard.
US stock trading app Webull enters Mexico with Flink acquisition
The deal also includes Mexican brokerage house Vifaru Casa de Bolsa, which Flink agreed to purchase in 2022.
US fintech start-up CapitalOS emerges from stealth with $39m in equity and debt financing
The San Francisco-based firm has launched with $9m in equity funding and $30m in debt financing.
Apple’s partnership with Goldman Sachs is reportedly nearing its end
Apple has reportedly proposed ending its partnership with Goldman Sachs within the next 12 to 15 months.
HSBC appoints CEO and COO for new embedded finance JV
HSBC executives Vinay Mendonca and Shehan Silva have been appointed as CEO and COO of the new JV, respectively.
JP Morgan receives approval from ADGM to upgrade licence, plots UAE expansion
The US banking giant is aiming to boost its presence and service offerings in the UAE.
Jack Henry’s president of bank solutions, Stacey Zengel, to retire in 2024
A longstanding company executive, Zengel has worked with Jack Henry for the last 24 years.
Marqeta SVP and managing director Jeff Parker steps down
Marqeta hired Parker in September 2022 to build out its international go-to-market and operational functions.
Binance CEO exits after pleading guilty to money laundering charges
Binance has agreed to pay $4.3bn in “one of the largest corporate penalties in US history”.
After Binance and Coinbase, the US SEC sues crypto exchange Kraken
Kraken says it disagrees with the allegations and aims to “vigorously defend” itself in court.
Blue Ridge Bank set to trim BaaS fintech partnerships down to a “limited number”
The bank was flagged by the OCC last year for “unsafe or unsound” practices concerning its BaaS business.
Scottish challenger Alba Bank taps nCino to power SME lending
The SME-focused challenger landed its UK banking licence with the FCA and PRA in March.
US credit card fintech Petal reportedly eyeing potential sale
According to a report by Fortune, sources say the start-up has received multiple offers for acquisition.
US challenger HMBradley winds down consumer business, eyes B2B space
“Our consumer brand growth was falling short of our goals,” says HMBradley CEO and co-founder Zach Brunke.
Google parent company Alphabet in talks to seize major stake in UK challenger Monzo
Monzo could close its latest round of funding before the end of the year as it eyes up a potential IPO.
Advent International snaps up UK paytech myPOS
The deal will be completed through Advent’s new payments company, AI Circle Bidco.
US fintech Brex names Karandeep Anand as its first president
Anand first joined Brex in January 2022 as chief product officer.
US lender Enova fined $15m by CFPB for “widespread illegal conduct”
Enova says it has reached an agreement with the CFPB, with the majority of items being self-reported by the firm.
Lack of funding forces US credit card fintech Ness to close down
Having raised $15.5 million in seed funding, the fintech had hoped to raise an additional $40 million but to no avail.
US digital bank Green Dot appoints SVP Dave Harden as new CTO
Harden has served as the bank’s SVP of product development since February 2022.
Lynx raises £15m Series A funding to fight fraud and financial crime
Created 20 years ago, Lynx leverages AI and machine learning to detect and prevent financial crime.
Q2 Holdings announces leadership changes with new senior hires
Himagiri Mukkamala joins as CDO, Beth-Anne Bygum as CISO and Blair Williams as CRO.
FinTech Founders Video: upcoming trends – embedding community values
In this episode, fintech founders share their experienced of building values for a new digital vision.
MDT appoints Dan Schneider as CPO and Greg Lanigan as CIO in C-suite shake-up
Tracie Loudermilk has also been appointed to the role of vice president of project and consulting solutions.
Japan’s MUFG pens multi-year partnership with AWS for digital transformation
By moving to the cloud, AWS claims that MUFG has been able to reduce IT operational costs by 20%.
Saudi BNPL start-up Tamara expands lending capacity to $400m with Goldman Sachs
The company has secured an additional $250 million in debt financing to support its lending operations.
Customers Bank taps Funding Circle for Lending-as-a-Service platform
The bank says the platform will enable it to deliver “affordable term loans” directly to its SMB customers.
Global enforcement fines rise to $5.65bn in Q3 2023
The first two quarters of this year saw global enforcement fines amount to $1.5bn and $2.27bn, respectively.
Co-branded credit card fintech Imprint lands $75m in Series B funding
The round was led by Ribbit Capital with participation from existing investors Kleiner Perkins and Thrive Capital.
FinTech Founders Video: building a versatile team – how to get the best out of your employees
First-hand insights and learnings of fintech founders on how to strategically build a versatile team.
US fintech Carta reportedly conducts third round of layoffs this year
The cuts were first reported by Fortune, but the total number of employees impacted is currently unknown.
Demystify Podcast: Demystifying embedded banking success with Chris Dean and Chris Tremont
Grasshopper and Treasury Prime are thriving at a time when so many neobanks and BaaS providers are struggling.
Edwina Johnson joins MoneyGram as general manager
Johnson joins MoneyGram from fintech firm Alloy where she worked for over six years.
Trading solutions provider CQG agrees to executive ownership deal
The company’s acquisition by its senior executives is expected to be completed this month.
FinTech Founders Video: building company culture – team building achievements
We explore various aspects of how to build company culture and what can be achieved as a team.
Block’s Cash App withdraws bid for Irish virtual asset licence
Cash App had been pursuing a VASP licence in the country since 2021.
FinTech Founders Video: building a successful roadmap
Exploring hiring strategies and how to build a successful roadmap for a long-term vision.
Goldman Sachs reportedly seeks new issuer for General Motors credit card
Goldman Sachs bought the GM credit card business for $2.5 billion in October 2020.
