Paytech titan Diebold Nixdorf set to file for Chapter 11 bankruptcy protection
The Ohio-based firm says the restructuring support agreement is expected to “significantly” reduce debt.
USA
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Venmo launches account and debit card for teens
The account will be rolled out to select customers in June and will be “widely available” in the coming weeks.
Multi-asset custody provider Etana names Dennis Noto as new CTO
Noto has previously served as CTO at companies including IBM, LPL Financial and Scottrade.
Mode Eleven taps Finzly for cloud-based payments platform
Mode Eleven will now be able to facilitate high-value payments on the ACH and Fedwire networks.
US banking giants JP Morgan Chase and First Citizens cut 500 jobs each
Both banks laid off around 500 employees last week, according to media reports.
Akuvo inks partnerships with seven credit unions in the US
Together, these credit unions serve 747,388 members and represent $20 billion in assets.
LatAm paytech Bamboo names Francisco León as its first CEO
Bamboo believes it is in “a unique position” to capitalise on the growth in the digital payments space in the region.
B2B fintech Plastiq files for bankruptcy, enters deal with Priority
The agreement is subject to approval from the Bankruptcy Court, and any better offers Plastiq may receive.
US banking tech provider Nymbus bags $70m Series D funding
With the funding, Nymbus plans to expand and advance its core banking system, and diversify its product portfolio.
LatAm fintech start-up Kiwi secures $80m in funding
With the funding, Kiwi plans to introduce new products and reach more customers across US and Latin America.
New CEO of Pipe builds “fintech dream team”
Pipe makes new hires across technology, innovation, product, risk, and operations.
Embedded payments platform Rize Money acquired by Fifth Third
Fifth Third says embedded payments are “a core component” of its treasury management business.
US fintech Episode Six secures $48m in Series C funding
The round was led by Avenir, with participation from existing investor Anthos Capital.
OpenFin lands $35m in Series D funding
The funding will be used to accelerate the adoption of OpenFin’s software across the financial services industry.
US LGBTQ+ neobank Daylight to close down
The final day of Daylight’s banking operations will be 30 June.
FinovateSpring 2023: The top trends shaping the future of financial services
This year’s FinovateSpring conference has put digital transformation and innovation at the top of the agenda.
US proptech Setpoint acquires Resolute to “revolutionise fintech lending”
Resolute is a due diligence provider focused on single family rental (SFR) and residential transition loans (RTL).
Restaurant365 lands $135m funding at unicorn valuation
The round takes the Restaurant365 valuation to over $1 billion.
Sonata Bank taps Plinqit to help restaurant workers meet savings goals
Through the partnership, Sonata will provide customers with ways to save and plan for future financial needs.
Airbnb taps Stripe to enable bank payments for US customers
The feature will be available for customers with a US bank account.
Sonata Bank aims to boost quick service restaurant employees’ financial health
The challenger has raised more than $20 million in its initial round of funding.
American Bank & Trust taps Marstone for digital wealth management offering
With the partnership, the bank aims to retain existing client deposits and attract new retail bank customers.
San Francisco fintech Cardless secures $75m credit facility from i80 Group
The debt facility will provide Cardless “flexibility” to meet growing demand for co-branded credit card products.
Meridian Bank taps Corserv to launch business credit card programme
With Corserv, Meridian Bank will be able to offer credit cards with a variety of APRs, rewards and features.
Low-code AI integration platform AI Squared names Michelle Bonat as new CTO
Bonat will be responsible for software engineering, data science, AI research, IT and product management.
Bank of America launches new accelerator programme for fintech start-ups
The programme aims to help entrepreneurs from underrepresented communities scale-up their businesses.
Financial health app VeraScore names Scott Waldron as new president
In his new role, Waldron will lead VeraScore’s business development and customer acquisition strategies.
Private credit marketplace platform Percent lands $29.7m Series B funding
Percent will use the funding to further develop its platform and propel its next phase of growth.
Credit union North Carolina SECU selects NCR for digital banking upgrade
Using NCR Digital Banking, SECU will be able to upgrade its mobile and online banking capabilities.
Accounting software firm Tipalti lands $150m growth financing
Tipalti says the financing will go toward investments in product development and customer support.
Procurement fintech Zip secures $100m Series C funding at $1.5bn valuation
Founded in 2020, Zip helps companies streamline B2B purchasing and manage business spend.
Intapp acquires employee compliance software firm Paragon Data Labs
Intapp says the acquisition will augment its risk management and compliance offering.
Barbados challenger Sagicor Bank launches on Mbanq’s BaaS platform
Through Mbanq, Sagicor Bank aims to offer customers “branchless” digital financial services.
US paytech Sionic names ex-PayPal exec Susan Currey as chief compliance officer
Currey brings more than 15 years of risk and compliance management experience to the role.
NCR names new chairman and CEO-designates as company separation gathers pace
Joseph Reece joins as chairman of the board with Tim Oliver and David Wilkinson named CEO-designates.
SEC fines HSBC and Scotia Capital over recordkeeping failures
HSBC Securities and Scotia Capital have agreed to pay penalties of $15 million and $7.5 million respectively.
US fintech 8fig secures $140m in equity and debt financing
8fig will use the latest funding to continue investing in small and medium-sized e-commerce businesses.
US credit card start-up Petal bags $35m in fresh funding, spins out Prism Data
The new investment will be split between Petal and Prism Data as the businesses look to scale.
First National Bank of Oklahoma selects Teslar to streamline lending processes
The bank will utilise Teslar’s tech to automate its commercial, consumer and agricultural lending workflows.
