Old Second National Bank selects Newgen Software’s digital account opening solution
The solution will enable Old Second to streamline digital onboarding for retail and business banking customers.
USA
Citigroup to sell trust administration services business to JTC in deal reportedly worth $80m
Citi Trust claims $70 billion in AUA across more than 2,000 UHNW clients.
JP Morgan reportedly in talks to replace Goldman Sachs as Apple’s credit card partner
The Wall Street Journal reports that talks between JP Morgan and Apple commenced at the beginning of this year.
Axoni sells Veris post-trade processing business to LSEG
Launched in 2020, Veris operates as a distributed ledger network for equity swaps.
Florida’s EverBank inks $261m deal to acquire Sterling Bank
The acquisition is expected to close in Q1 2025.
UK regtech Novatus Global lands new $40m growth investment for US expansion
The investment builds upon the £4 million the regtech secured from Maven Capital Partners in 2022.
PayFi network Huma Finance raises $38m for on-chain expansion
The San Francisco-based start-up plans to expand its PayFi network on Solana and Stellar.
US regulator OCC orders Wells Fargo to shore up AML and risk management procedures
The OCC has barred Wells Fargo from expanding into medium-to-high risk products and geographies without prior approval.
Affinity Plus FCU signs Lumin Digital for online and mobile banking revamp
The platform will deliver spending insights, financial guidance, fraud protection, and other features to members.
Mastercard puts down $2.65bn for AI-powered threat intelligence platform Recorded Future
Insight Partners first acquired the platform in 2019 for $780 million.
Syndicated loan platform Versana raises $26m with plans for global expansion
New York-based Versana has picked up British banking heavyweight Barclays as a new investor.
Demystify Podcast: Demystifying the use of GenAI for customer propositions with Uday Akkaraju of Bond.AI
Uday Akkaraju demystifies the use of AI to bridge the gap between consumers and financial institutions.
Financial management software provider to SMEs, Finally, raises $50m equity and $150m debt
Florida-based Finally plans to expand its AI-powered business payments platform across the US.
LLM-powered compliance platform Sedric AI secures $18.5m Series A
Amex Ventures joined the round as a new investor.
Alternative investment platform CAIS hires Kan Kotecha as CTO
Kotecha will lead the CAIS engineering team in “building a unified operating system”.
Home equity fintech Unlock bags $30m Series B funding
The start-up has also secured a $250 million capital commitment from D2 to support its origination growth.
Lloyds Bank taps Cleareye.ai to streamline trade finance documentation processing
The bank will implement its new partner’s ClearTrade technology from this month.
Paylocity to acquire spend management platform Airbase for $325m
The deal is expected to close “in the first or second quarter of fiscal 2025”.
Natixis sells private credit business MV Credit to Clearlake Capital
Upon completion of the deal, Clearlake Capital’s credit business will have over $28 billion in AUM.
MidWestOne Bank taps Temenos for digital onboarding solution
The Temenos Digital Onboarding solution has been deployed by the bank as SaaS on AWS.
Axway completes €330m acquisition of Sopra Banking Software
SBS CEO Eric Bierry has been named as the new deputy CEO of Axway.
PayPal Ventures leads $15m Series A for Brazilian fintech Ume
The Sao Paulo-based credit platform has also secured a $20 million debt financing facility.
Mastercard to pilot Payment Passkey Service in India
Indian payment players taking part in the pilot include Axis Bank, Juspay, PayU, and more.
US fintech Happy Money hires former Bank of America exec Matt Potere as new CEO
Potere takes the reins from Joe Heck, who departed Happy Money in July.
Migrant-focused fintech Comun lands $21.5m Series A
The funds add to the $4.5 million seed round Comun raised in December.
Stripe CTO David Singleton to step down after seven years to start own company
Singleton is passing the reins to deputy CTO Rahul Patil, who has been with Stripe for four years.
MoneyGram names Josh Gordon-Blake as new chief digital officer
Gordon-Blake is taking over from Seth Ross, who began the role just last April.
US fintech PrizePool reportedly winding down consumer app amid acquisition
According to an email to customers shared on Reddit, the start-up is set to close accounts on 23 September.
Shift4 acquires Canadian fintech Givex
The acquisition is anticipated to close in Q4 2024.
US identity verification start-up IDPartner Systems to shut down
IDPartner Systems closes after three years in business.
Arch Lending raises $75m in equity and debt financing to power crypto-backed loans
The raise includes $5 million in equity and a $70 million loan debt financing facility.
Visa reportedly in negotiations to acquire Featurespace in potential £700m deal
Featurespace provides financial crime prevention solutions for AML and fraud detection.
Florida’s Surety Bank taps Apiture to power online and mobile banking services
Surety Bank will deploy Apiture’s Digital Account Opening, Business Banking, and Consumer Banking solutions.
US Bank snaps up Salucro Healthcare Solutions for undisclosed sum
US Bank first invested in Salucro back in 2022.
ICYMI fintech funding round-up: Resal, Skyfire, Waza, Revenew and more
Our weekly fintech round-up for you to get the latest funding news from around the world.
Lettuce Financial bags $15m Series A led by Zeev Ventures
The new funding builds on Lettuce’s $6 million seed round in March, also led by Zeev Ventures.
US fintech start-up Received to close down
“We punched above our weight, and fought a good fight,” writes co-founder and CEO Roi Ben Daniel.
Cardea acquires select assets from NSCG, rebrands as Fourcore Capital
NSCG will also invest up to $25 million in Fourcore’s upcoming capital raise.
Mastercard set to lay off around 3% of global workforce
A Mastercard spokesperson says the majority of the impacted employees will be notified in Q3 2024.
ABN Amro goes live with CBA’s IBAS TDD software and nCino’s cloud banking platform
ABN Amro is streamlining its digital lending operations and strengthening its trade finance transaction monitoring.
