Regions Bank selects Temenos for customer deposit system modernisation
Modernising the bank’s core systems “paves the way” for continued, sustainable growth, Regions says.
USA
Georgia United Credit Union taps Jack Henry for digital banking platform
The scalable platform is built on an open-API infrastructure, allowing the credit union to customise features.
KeyBank taps Qolo for virtual accounts and digital payments solutions
The bank’s clients will now be able to utilise ACH, wire transfer and real-time payments.
Investment platform Altruist raises $112m in Series D funding
The new funding follows a previously undisclosed $110 million Series C round in November 2021.
Very Good Security names former Visa exec Chuck Yu as CEO
At Visa, Yu led teams across the business, including business development, sales, finance, and operations.
TransPecos Banks launches credit card offering in partnership with E6
The bank has deployed E6’s products to bring card issuing and processing to its customers.
Crypto API provider Wyre names Stephen Cheng as new CEO
Cheng has served as interim CEO for Wyre since January 2023.
Visa announces Visa+ to support interoperability between P2P apps
Visa has partnered with PayPal and Venmo to trial the new service.
US fintech Clear Street bags additional $270m in Series B funding
The new funding takes the firm’s total Series B to $435 million following an initial $165 million raise last year.
Chargeback Gurus appoints board member Tim Tynan as new CEO
Tynan has served on the firm’s board since August 2021 and has previously held roles at BofA and Citigroup.
FDIC looks to sell SVB and Signature Bank securities portfolios
The FDIC says the two portfolios are worth around $27 billion (Signature Bank) and $87 billion (SVB).
Navan acquires Indian travel expense management firm Tripeur
The agreement marks Navan’s fifth acquisition in the last two years.
US Bank partners Kyriba for real-time business payments solution
US Bank and Kyriba clients can now send instant payments to vendors, customers and employees.
Dutch challenger Bunq applies for US banking licence
The banking charter from the FDIC would allow the neobank to offer its services across the country.
SoFi acquires Wyndham Capital Mortgage in all-cash deal
The acquisition includes both “talent and technology” and is designed to help SoFi scale.
US saving and investing app Acorns acquires UK’s GoHenry
Together, both firms will now serve over 6 million customers globally.
US OCC names Prashant Bhardwaj to lead new fintech office
Bhardwaj will lead a team analysing trends in fintech including digital assets and bank-fintech partnerships.
Liberty Bank launches on Alkami’s digital banking platform
Liberty Bank says the move to Alkami’s platform is a “crucial step” in its complete tech stack overhaul.
US fintech funding round-up: StellarFi, Stratyfy, Beam and more
A handy round-up of the recent funding endeavours of fintech companies across the US.
US challenger Varo Bank names Sachin Shetty as new CTO
Shetty will be responsible for developing Varo’s technology stack as the bank looks to scale.
Seattle Bank partners LoanStar for embedded consumer lending solution
Seattle Bank customers can now access loans for high-value transactions directly through merchants.
Fraud and risk detection start-up Oscilar launches from stealth
The start-up has been self-funded by its co-founders, with $20 million in capital.
New York fintech Spiral secures $28m Series A funding
The company will use the funding to launch its Impact-as-a-Service platform.
Syndicated loan platform Versana bags $40m in equity capital
Deutsche Bank, Morgan Stanley, US Bancorp and Wells Fargo have all invested capital.
Finalists announced for Banking Tech Awards USA 2023
The shortlist for the Banking Tech Awards USA 2023 has been announced.
Apple launches BNPL offering Apple Pay Later in the US
Apple has launched a pre-release version of its BNPL offering to a select number of customers.
US CFTC files lawsuit against Binance and CEO
The CFTC has accused Binance of “numerous violations” of the Commodity Exchange Act and CFTC regulations.
Visa and Mastercard reportedly in talks to acquire Pismo
Visa has reportedly submitted a bid of $1.4bn after an initial offer of $1bn was rejected by Pismo.
First Citizens Bank strikes deal with FDIC to buy Silicon Valley Bank assets
The deal includes the purchase of assets of $110bn, deposits of $56bn and $72bn of SVB’s loans.
State Street to acquire CF Global Trading for undisclosed sum
The acquisition is expected to be completed by the end of this year subject to customary closing conditions.
JP Morgan to pilot biometric payments in the US
If the pilot is successful, JP Morgan intends for a wider rollout to US merchants in 2024.
Utah’s Mountain America Credit Union taps Corelation for KeyStone core
Corelation says the deal is “significant” for the company due to the size of Mountain America Credit Union.
Fintech vendor CSI names Linda Fischer as chief operating officer
Fischer brings more than 35 years of enterprise technology experience to the role.
JP Morgan snaps up VC investment analytics software firm Aumni
The financial details of the acquisition, expected to close in H1 2023, have not been disclosed.
Pay.com partners Cross River to drive US expansion
Cross River’s compliance, payments and tech infrastructure will allow Pay.com to “scale and reach new markets”.
Employee financial wellness start-up Rain lands $116m in equity and debt
The total funding is made up of a $66 million Series A equity round and a $50 million debt facility.
FDIC offloads non-crypto Signature Bank deposits to Flagstar Bank
The FDIC will continue to provide crypto-related deposits directly to customers.
Eastnets migrates Swift and sanctions screening infrastructure to Microsoft Azure
Eastnets is one of the first Swift bureaus to migrate its full infrastructure for the Americas to the cloud.
Mastercard snaps up Swedish AI cybersecurity start-up Baffin Bay Networks
Mastercard intends to fold Baffin Bay’s automated Threat Protection tech into a global “cyber service”.
Rippling raises $500m following collapse of banking partner SVB
The Series E values the firm at $11.25 billion, the same as the company’s Series D in May last year.
