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.
USA
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.
USAA president and CEO Wayne Peacock to retire in 2025
Peacock joined USAA in 1988 and became its CEO in February 2020.
US fintech Amount lands $30m in fresh funding to advance AI capabilities
Amount’s tech powers deposit account opening and loan origination for banks and credit unions.
PayTech Awards USA 2024 shortlist announced
We’re excited to reveal the finalists for the PayTech Awards USA 2024.
Stellex Capital acquires Fincentric from S&P Global
The acquisition is expected to close during the first half of 2025.
Chaos Labs lands $55m Series A led by Haun Ventures
Chaos Labs will use its latest funding to develop new products and expand its risk management platform.
Arizona’s Transact Campus snapped up by Roper Technologies in $1.6bn deal
As part of the deal, Transact Campus will merge with Roper’s CBORD business.
ICYMI fintech funding round-up: Skydo, Finora Bank, Okredo, Parfin, and more
Our weekly fintech round-up for you to get the latest funding news from around the world.
Apple set to open up access to NFC tech to third-party app developers
Developers in the UK, the US, Australia, Brazil, Canada, Japan, and New Zealand will be able to access the tech.
PayZen lands $32m equity investment and $200m credit warehouse in Series B round
PayZen offers an affordability financing platform to help healthcare patients in the US manage medical bills.
North Bay Credit Union taps Sharetec for web-based core banking solution
North Bay Credit Union will deploy the vendor’s Velocity solution.
Ohio’s first female-led bank Fortuna nears launch after raising $20.7m
Fortuna is aiming to soft launch in fall 2024.
Blockchain firm Consensys hires former Disney exec Dan Odell as CFO
Odell will take control of “all financial operations” at Consensys.
Setpoint bags $31m Series B funding to fuel research and development
The round builds on Setpoint’s $43 million Series A and takes its total capital raised to date to $76 million.
Experian snaps up behavioural analytics firm NeuroID
Experian will use NeuroID’s tech to enhance its fraud risk suite for clients.
Forum Credit Union selects Apiture for business banking digital enhancement
Forum Credit Union is going live with Apiture’s business banking solution.
Broadridge appoints Simon Robertshaw as CTO of trading solutions
Robertshaw joins from The Bank of London, where he served as COO.
Scotiabank buys 14.9% stake in KeyCorp for $2.8bn
The Canadian bank’s CEO says the deal “creates future optionality for Scotiabank in the North American corridor”.
Pre-seed fintech investor Techstars cuts global workforce by 17%
Techstars CEO David Cohen says the firm “overbuilt and over hired to support our ambition to scale”.
US fintech Tally to shut down after failing to secure “necessary funding” to continue operations
The fintech had previously secured $80 million in Series D funding in 2022.
Nium looks to expand presence in LatAm with new licence applications
Nium has applied for a Payment Institution licence in Brazil.
UFS purchases Safe Systems to bolster compliance and security services
The combined companies currently service just under 400 financial institutions.
Future FinTech Group promotes Hu Li to CEO
Li has served as CEO of FTFT International since January this year.
Pennsylvania’s Customers Bancorp hit with enforcement action by US Federal Reserve
The enforcement action follows a recent inspection and does not include a fine.
LendingPoint hires ex-Mr Cooper exec Shawn Stone as CEO
Stone is also set to join the LendingPoint board of directors.
Credit Union of America boosts ATM network with NCR Atleos partnership
CUA now boasts an ATM network of over 85,000 locations across the US.
Unit secures new embedded finance partnerships with Vantage Bank and Lincoln Savings Bank
The two new deals come just months after Unit revealed it was cutting 15% of its workforce.
Global Payments names Robert Cortopassi as new president and chief operating officer
Cortopassi previously served as Global Payments’ senior EVP and president of international and vertical markets.
NerdWallet to cut workforce by 15% as part of restructuring plan to reduce operating expenses
The job cuts are expected to produce around $30 million in annualised cost savings.
Flywire acquires Invoiced to enhance B2B payments and software capabilities
Invoiced’s SaaS platform enables B2B finance teams to automate AR processes.
Payoneer acquires payroll start-up Skuad in Singapore for $61m
Payoneer CEO John Caplan says the deal will “accelerate our evolution and B2B momentum”.
Sendsprint acquires Nobel Financial to expand remittance services in the US
Scott McClain, Nobel Financial’s chief compliance officer, will also join Sendsprint in the same role.
JP Morgan Payments expands in-store biometric payments throughout US with PopID
The solution first made its market debut last year.
Atomic to power direct deposit switching for Texans Credit Union through Alkami partnership
Atomic’s solution is available through Alkami’s digital banking platform.
US fintech Octane raises $50m Series E funding led by Valar Ventures
The funds will drive Octane’s market expansion and fuel further product development.
Pagaya set to acquire Silicon Valley’s Theorem Technology for an undisclosed sum
Theorem is an institutional asset manager powered by machine learning technology.
Varo Bank inks five-year issuer processing deal with Marqeta
The deal will enable Varo cardholders to add tokenised cards to their digital wallets.
NCR Voyix agrees to sell digital banking unit to Veritas Capital for $2.45bn
NCR Voyix says its digital banking business currently supports “1,300 top-tier financial institutions”.
Houlihan Lokey names Andrew Atherton as new fintech managing director
Atherton previously worked for over eight years at Union Square Advisors.
