Best Egg lands $500m purchase facility to expand personal loan product
The purchase facility builds on the company’s $225 million Series E round completed in March 2022.
USA
TD Bank hit with $3bn in fines over AML failures
The $3.09 billion in total fines includes a record $1.8 billion penalty from the US Justice Department.
Warburg Pincus snaps up minority stake in Brazil’s Contabilizei for $125m
Warburg Pincus has now become Contabilizei’s largest shareholder.
Wealth management firm Farther quadruples valuation with $72m Series C
The round was co-led by CapitalG, the independent growth fund of Google’s parent company Alphabet.
ICYMI fintech funding round-up: Bitlayer, Quartr, FutureMoney, Solifi and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
FusionIQ hires Eric Noll as new CEO upon completion of “significant new fundraising round”
Erik Oros, Timothy Powers, and Scott Ganeles will join chairman Noll as FusionIQ’s new directors.
LendingClub and Pagaya acquire intellectual property of shuttered fintech Tally
Tally closed in August, citing insufficient funding as the primary reason for its shutdown.
Lakeside Bank selects Volante’s PaaS for RTP processing
Lakeside is using Volante’s PaaS for Swift cross-border, RTP real-time, and FedNow instant payments.
Financial planning fintech Facet raises $35m funding round
This round increases Facet’s total raised to $210 million.
Mercury secures $100m Natixis CIB credit warehouse to fund IO card programme
The warehouse will apply to Mercury’s credit card programme, which launched in 2022.
NuMark Credit Union teams up with NCR Atleos for branch upgrade
NuMark is transferring “complete responsibility” of its self-servicing banking operations to NCR Atleos.
Digital business bank Grasshopper to buy ACG’s Auto Club Trust
The deal will increase Grasshopper’s total assets to approximately $1.4 billion.
Logik.io bags $25m Series B for AI-driven CPQ platform
Logik.io previously raised $16 million through a Series A in May 2023.
DeFi Technologies snaps up Stillman Digital in $5m share deal
DeFi Technologies has acquired Stillman Digital’s securities for 2.5 million shares, valued at $2.10 each.
CoreFirst Bank joins NCR Atleos’ Allpoint Network for self-service banking boost
The bank can now offer access to over 40,000 surcharge-free ATMs located throughout the US.
Montana’s Intrepid Credit Union launches digital banking with Alkami
Alkami says the platform will enable the credit union to “foster greater engagement”.
ICYMI fintech funding round-up: Plumery, Concreit, Connected Data, and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
JP Morgan to bolster community presence with planned hiring spree in US
Chase intends to use the hires to maintain community-level support across 48 of the 50 US states.
Stax Payments snaps up BlockChyp for undisclosed sum
Stax says this acquisition will reduce “friction” and enhance partner and customer experience.
Fiserv ends joint venture in Wells Fargo Merchant Services
An SEC 8-K filing says Fiserv expects to receive a “cash payment or assets” for its 40% stake in WFMS.
Mastercard acquires Minna Technologies to upgrade subscription experience
Minna develops technology to help consumers manage subscriptions via banking apps and websites.
Ocean Bank in Florida joins NCR Atleos’ Allpoint Network
Atleos’ Allpoint Network currently supports over 40,000 surcharge-free ATMs across the US.
Digital Federal Credit Union and First Tech Federal Credit Union to merge
The merger is intended to complete in 2025.
Commerce Bank partners FIS for loyalty programme management platform
FIS’ loyalty engagement solutions will enable Commerce customers to earn rewards at the POS.
VaticAI appoints Mitch Eggers as new COO and chief scientist
Eggers will spearhead VaticAI’s data science for AI-driven audience intelligence products.
PayTech Awards USA 2024 winners announced!
Celebrating exceptional achievements and talent in the US payments industry.
Indonesia’s Krom Bank taps AWS Cloud for digital banking upgrade
Krom’s core ledger is being powered by SaaS cloud banking platform Mambu.
Karl Mattson named Endor Labs’ first chief information security officer
Mattson previously held the CISO position at Noname Security.
ICYMI fintech funding round-up: Outgo, Mifundo, Mesa, Simpler, and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Visa to buy AI-powered fraud detection firm Featurespace
Visa says it expects to close the transaction in FY 2025.
Scienaptic AI co-founder steps down to launch new venture, Algebrik AI
Algebrik AI, a new loan origination system, will commence deployments in Spring 2025.
Rimes hires Gus Macfarlane as new chief operating officer
Macfarlane joins Rimes from Barclays, where he spent over six years in various managing director roles.
US Department of Justice files civil antitrust lawsuit against Visa
The DOJ alleges that Visa “illegally maintains a monopoly over debit network markets”.
Bank of America to open 165 new branches by end of 2026
Since starting its financial centre expansion drive in 2014, BofA has invested over $5 billion in the initiative.
Former Capital One VP Fouzi Husaini joins Marqeta as chief AI officer
Before joining Marqeta, Husaini was VP of machine learning at Capital One and led tech teams at Amazon.
OneAZ Credit Union to deploy Backbase’s Engagement Banking platform
OneAZ operates 20 branches across Arizona and claims to manage over $3.4 billion in assets.
Five Star Bank to begin “orderly wind down” of BaaS offerings
Five Star Bank is looking to prioritise the growth of its core community banking franchise.
US transportation paytech AtoB raises $130m in equity and debt funding
The Series C round was co-led by General Catalyst and Bloomberg Beta with support from Mastercard.
NeoXam set to acquire data control and automation platform EZOPS
The proposed deal would expand NeoXam’s reach in the US, Asia and throughout Europe.
Consumers Credit Union selects Lumin’s digital banking platform ahead of proposed Rockford Bell merger
CCU says it required a digital platform that could “support its increasing number of members and their unique needs”.
