Cognaize lands $18m Series A to fuel AI-powered document processing for financial services
The start-up will use the funds to accelerate its research and product development and boost its marketing activity.
USA
Corelation signs three more credit unions for core processing
All three are preparing their organisations for future growth with higher member engagement.
Thredd, formerly GPS, appoints Ava Kelly as new chief product officer
Based in the US, Ava Kelly brings more than 25 years of payments industry experience to her new role.
US fintech Earnest partners Nova Credit to make international student loans more accessible
The partnership seeks to provide better financing opportunities to foreign-born students in the US.
ThetaRay’s Sonar goes live on Microsoft Azure Marketplace
ThetaRay currently engages around one billion end users and monitors over 15 billion transactions per year.
Santander reportedly looks to boost investment banking operations with new hires
Reuters reports Santander is making at least 50 new hires in a push to become a major investment banking player.
Nav announces second acquisition of the year with start-up Tillful
In addition to the asset acquisition, many of Tillful’s employees will be joining Nav in senior roles.
FusionIQ integrates with wealth management platform Blueleaf
The integration seeks to provide wealth managers with the tools needed to boost their digital transformation.
Banking Tech Awards USA 2023 winner: Fincom – 90% cost reduction in AML sanctions screening
Fincom’s AML Sanctions Screening solution won the AML & Compliance Tech of the Future at the awards.
Bank of America fined by US regulators over fake accounts and junk fees
The CFPB has ordered Bank of America to pay $150m in penalties and more than $100m to affected consumers.
Car IQ partners Visa to enable in-vehicle payments
Car IQ Pay vehicle wallet enables vehicles to have their own payment accounts to transact directly with merchants.
Global fintech investment falls over H1 2023 amid economic turbulence but sector remains resilient
According to Innovate Finance data, $27.3bn was injected into the industry globally during H1 2023 through 1,714 deals.
IC Credit Union selects Alkami for tech stack modernisation
The credit union intends to create a modernised user experience for its 37,000-strong member base.
Convera taps Temenos to modernise payments infrastructure
Convera will deploy Temenos’ Payments Hub solution running in the Temenos Cloud to replace its legacy systems.
US fintech start-up MerQube lands $22m Series B funding
The round was led by Intel Capital, with participation from new investor Allianz Life Ventures, and existing investors.
US accounting fintech Jirav raises $20m Series B funding
With the funds, Jirav plans to fuel product development, expand its customer base and attract new talent.
Collective raises $50m to deliver “financial peace of mind” for freelancers
With the new funding, Collective plans to accelerate AI deployment across its operations and add new features.
James Dixon named as new Allied Payment Network CISO
Dixon intends to “ensure fast and secure payments” and bolster Allied’s information security practices.
Citi launches new digital commercial banking platform
Citi Commercial Bank (CCB) says the new platform has been created “in close collaboration” with its clients.
Legal & General extends cloud migration agreement with Kyndryl
The new seven-year agreement is to last until 31 March 2030.
Payoneer becomes latest fintech to cut jobs
The US payments platform is to cut 9% of its workforce by Q3 2023.
Thieves make away with $20m from Revolut following payment flaw
Flaws in its US and European payment systems meant that some declined transactions were wrongly refunded.
Apple eyes credit card launch in India as partnership with Goldman may be nearing its end
Apple is reportedly exploring a partnership with HDFC Bank in India to roll out a credit card offering.
FIS confirms deal to sell majority stake in Worldpay to GTCR for $11.7bn
The transaction is expected to close by Q1 2024, subject to regulatory approvals and closing conditions.
US fintech Clair lands $25m equity funding to power on-demand pay
The start-up has also secured a $150 million consumer lending program with banking partner Pathward.
Platform One appoints former SEI operational director Terry Leavy as new COO
Leavy joins the company following a decade-long stint at US financial services firm SEI.
Rimes supports digital transformation of Jana with Matrix solution
Jana has gone live with the solution in an effort to streamline and automate its operational processes.
Former Goldman Sachs partner joins Clowd9 as CFO
Christian Channell joins the cloud-native platform following a 25-year career at Goldman Sachs.
Mbanq’s BaaS offering supports US debut of SME-focused Cheqly
Cheqly’s services include business accounts, physical and virtual Visa cards, ACH payments and wire transfers.
Mascoma Bank implements OnView deposit suite with VSoft partnership
Mascoma Bank will utilise VSoft’s Teller Deposit, Branch Deposit and ATM Deposit solutions.
Digital asset firm Laser Digital snaps up Elysium Technology Group
Laser says the deal will help bring cross-asset post-trade capabilities to institutional digital asset investors.
FIS reportedly in talks to sell majority stake in Worldpay for $15bn
Sources tell Reuters that FIS will keep a minority stake in the business if the deal goes through.
US real estate investing platform PeerStreet files for Chapter 11 bankruptcy protection
The petition was filed on 26 June and the final hearing on the case is expected on 28 July.
Risk and compliance fintech Unit21 bags $45m Series C
The company says the funding has fueled the growth of its Fintech Fraud DAO consortium, launched last fall.
Socure snaps up ID verification start-up Berbix for $70m
Socure has integrated Berbix’s tech to launch its new predictive document verification solution, DocV 3.0.
State Employees Credit Union taps Apiture for digital banking upgrade
The credit union will utilise Apiture’s Consumer Banking and Business Banking solutions.
Sardine forms industry consortium to help tackle payment fraud
Founding members include Chesapeake Bank, Visa, Airbase, Blockchain.com, Alloy Labs Alliance, iLex, and Novo.
Why Java-based viewing integrations are essential for fintech applications
Accusoft’s VirtualViewer provides true cross-platform document support for Java-based applications.
Robinhood reportedly laying off 7% of staff in fresh round of job cuts
The news marks Robinhood’s third round of layoffs since April 2022.
US fintech Ramp buys AI customer support platform Cohere.io
Cohere.io’s entire team, including CEO Yunyu Lin, will join Ramp as part of the deal.
