Coastal Community Bank picks Finzly to modernise payments processes
Coastal Community Bank has more than $2 billion in assets under management.
USA
Privacy-focused data collaboration platform Duality raises $30m
Duality will invest further in privacy-preserving machine learning technologies.
Case study: Meeting CU members where they are with virtual branches
How Unitus CU achieved a higher satisfaction rating for its “virtual branch” than any physical branch experience.
Google pulls Plex after less than a year in development
Aborted banking project reflects change of financial services strategy at Google.
Fraud prevention platform Alloy hits unicorn status with $100m investment
Investment will go towards building out an evolving customer identity profile offering.
Monzo withdraws US licence application after two years of negotiation
UK challenger bank to refocus its business after aborted US entry.
Robo-advisor Betterment achieves unicorn status with $160m capital injection
The funding was drawn from a Series F round and $100m credit facility.
Banking platform Arzus launches in US to provide all-in-one service
Arzus aims to create a single dashboard for users’ financial lives.
JP Morgan’s new UK bank Chase picks 10x for core banking operations
10x Future Technologies is a “foundational partner” for the new digital bank.
FNBM selects new core banking solution in Finastra’s Fusion Phoenix
Fusion Phoenix is key to the bank’s strategy to attract younger customers.
BNY Mellon invests in data firm Quantexa Technology
Two BNY execs join the Quantexa board as US bank joins Series D.
Wells Fargo pays $37.3m to settle US foreign exchange lawsuit
The lawsuit was brought against the bank by the Department of Justice.
Payments fintech Highnote emerges from stealth with $54m funding
The card issuing platform will help SMEs compete with ecommerce giants like Amazon.
Aspiring neobank Vergo aims to serve US architecture SMEs
Vergo will be a vertical neobank for the US construction and interior design industry.
Marcus chairman Harit Talwar set to retire in October
Talwar leaves his role after six years and the launch of his consumer project.
Financial document processing platform Ocrolus secures $80m Series C round
New York-based start-up says the new funding takes its valuation “north of $500 million”.
JP Morgan Chase acquires Frank to firm up student offering
US firm hopes the deal for the college-focused financial wellness platform will boost student engagement.
Zolve launches immigrant-focused banking products
The neobank’s new suite of products will help new arrivals to the US build credit.
Paytech Recharge eyes global expansion after $35m investment
The Series B round culminated in one of the largest investments into a Dutch startup in 2021.
Thought Machine wins major core banking deal with JP Morgan Chase
UK-based core banking vendor continues US expansion.
Aussie fintech Airwallex secures $200m Series E funding at $4bn valuation
The company has now raised more than $700m in total capital.
Flutterwave partners with Currencycloud to boost global expansion plans
Flutterwave has integrated Currencycloud’s API to expand its payments network.
Goldman Sachs acquires BNPL firm GreenSky in $2.2bn deal
US bank aims to furnish its Marcus app with new capabilities.
JP Morgan to launch UK digital bank Chase this week
The digital bank forms part of JP Morgan’s planned international consumer expansion.
Paytech Form3 secures $160m Series C round led by Goldman Sachs
London-based payment technology provider plots US expansion.
Elizabeth Warren calls on Fed to break up Wells Fargo
Senator cites the bank’s “longstanding ungovernable behaviour”.
Grow Credit raises $106m to expand subscription-based credit builder
Black-owned fintech firm plans growth to 100 million end consumers.
E-commerce fintech SellersFunding secures $166.5m investment
US fintech plans geographical expansion and increased headcount.
SpotOn raises $300m in Series E round to fuel acquisition of Appetize
US payments firm acquires commerce platform as growth continues.
TransUnion acquires Neustar for $3.1bn to integrate identity solutions
Credit reporting firm aims to branch into fraud prevention.
B2B payments platform Melio lands $250m investment at $4bn valuation
The firm says the Series D capital will be used to accelerate its expansion through partnerships.
First Horizon Bank partners Wipro to support VirtualBank cloud migration
Wipro says it worked with six other companies to streamline VirtualBank’s cloud migration.
Morgan Stanley poaches UBS managing director Gerson
Gerson joins after two and a half years at the Swiss investment bank.
Arvest Bank picks Thought Machine’s Vault as new core banking system
Arkansas-based bank selects Vault to revamp digital banking offerings.
Payroll platform Papaya Global hits $3.7bn valuation with $250m Series D round
Papaya has now raised $440 million in total capital since its seed round in 2016.
JP Morgan to acquire majority stake in Volkswagen’s payments business
US banking giant says the deal will expand its digital payment capabilities.
FortisPay boosts commerce offering with OmniFund acquisition
The acquisition follows deals for EpicPay and Change Merchant Systems in June.
Mastercard acquires blockchain security start-up CipherTrace
Payments giant aims to integrate CipherTrace’s crypto security and fraud detection capabilities.
DevOps platform Copado lands $140m funding
The firm plans to use the cash raised to expand its testing software.
Global Payments to acquire MineralTree in $500m deal
The acquisition will expand Global Payments’ B2B offering.
