HSBC explores options for loss-making US arm as profits dip 34%
Asia delivered HSBC a $13 billion adjusted profit before tax in 2020.
USA
US corporate card provider Brex applies for banking licence in Utah
SVB’s former chief digital officer Bruce Wallace will head up Brex Bank.
A seven-year-old tells us what we (should) already know about banking
Your customers aren’t seven-year-olds, but they probably want a lot of the same things.
Fintech funding round-up: SeedFi, Libeo, Ember and Finch Capital
A round-up of some of the recent investments in fintech, paytech and tax tech firms.
NBA star Russel Westbrook leads $63m investment in Varo Bank
Westbrook also joins the bank as an advisor on communities of colour.
UK Black-owned challenger Atmen to launch in March
The start-up is now looking to raise £5 million from institutional investors.
Stripe valuation rises to $115bn according to investors
The $115 billion figure is more than threefold its $36 billion valuation.
GameStop trader Deep F—ing Value, a licensed broker, sued for “fake persona”
The lawsuit accuses Gill of “deceitful and manipulative conduct”.
Marqeta files for IPO with SEC targeting $10bn valuation
The fintech’s current valuation sits at $4.3 billion.
Baptist Health Federal Credit Union picks Finastra system
Healthcare-supporting FCU revamps digital channels.
FDIC appoints Neocova’s Sultan Meghji as first chief innovation officer
The US agency is aiming to boost innovation among banks and credit unions.
Personetics raises $75m from Warburg Pincus
Data analytics and customer engagement firm plans expansion with new funding.
Jeremy Balkin calls time on HSBC US innovation role
Balkin leaves his post after six years with the bank.
The US market: are EU-based challengers coming to rustle up some feathers?
A deep dive and step-by-step comparison of US banks’ and EU challengers’ capabilities.
US federal agencies probe Amex’s SME and consumer cards sales practices
Several US federal agencies are probing American Express, according to a regulatory filing.
Jakub Jurek joins Varo Bank as chief data officer
He brings over 18 years of data expertise in academia and fintechs.
Robinhood backer Tiger Global leads $200m investment in rival Public.com
Public.com – as on 1 February – decided to stop making profits from payment for order flows.
MoneyLion set to go public via $2.9bn Spac deal
The fintech anticipates year-over-year growth of around 88%.
Reimagining the financial system with tokenised barter
Modern blockchain powered barter systems will change the way we view accessing, growing, and owning wealth.
SoLo Funds snaps up $10m Series A for P2P lending
SoLo brought in $12m, which includes a $2.8m seed round and a series of convertible notes.
US Faster Payments Council report shows state of US payments
It provides a true illustration and understanding of how funds move on the networks.
Monzo appoints Carol Kobuke Nelson as new US president and CEO
Nelson spent 23 years at Bank of America.
BNY Mellon to finance crytpo and signs Google Cloud deal
The bank cites “growing client demand for digital assets”.
US core banking vendor Nymbus lands $53m top-up led by existing backer
Nymbus is gearing up to launch “Nymbus Labs”.
Six Black-owned banks receive funding from Well Fargo’s $50m MDI pledge
The banks will have access to a dedicated Wells Fargo relationship team.
ICYMI funding round-up: Trade Ledger, Mesh, Safepay, Globacap & more
We round up some of the funding rounds that may have slipped you by.
Dublin’s ION Group snaps up New York trading tech firm Dash
ION Group has bought a handful of other firms to date.
San Fran fintech Zeta lands $1.5m for couples banking
Currently, the start-up makes money on partial interchange fees.
BankPlus replacing 30-year-old core system with Jack Henry’s SilverLake
Southwestern US bank picked SilverLake after feedback from its peers.
USAA Federal Savings Bank nabs new risk head from Citigroup
Neeraj Singh replaces retiring Torben Ostergaard.
Challenger Climate First Bank to launch in Florida’s Tampa Bay Area in Spring
The start-up wants to become a full-service community bank.
NCR acquires digital onboarding start-up Terafina
Terafina marks NCR’s third acquisition this year.
Tech CU picks Backbase to revamp digital processes
Silicon Valley-based institution looks to the future with digital vendor.
Bill.com edges closer to profitability, shares up 30%
Between last October and December, revenue was up 38%, to $54 million.
US investor Stash lands $125m Series G ten months after last round
Stash’s last valuation sits at around $812 million.
Texan digital challenger Fair set to launch in Spring
This month, the start-up opened its waiting list.
Cross-border payments fintech Payoneer to IPO with $3.3bn Spac merger
Payoneer is reportedly profitable and expects to pull in $432 million in revenues this year.
Fintech funding round-up: UiPath, Narmi, Balance, GajiGesa, and more
The start of February has seen a whole host of funding rounds around the world.
PayPal posts 22% revenue rise on back of e-commerce growth
2020 set unprecedented records for PayPal, but its 2021 outlook is more conservative.
First Horizon Bank picks Finxact’s cloud-based core
First Horizon to deploy Finxact in its subsidiary brand VirtualBank
