US fintech lender Upstart Holdings files for IPO
To date, the fintech has raised some $165 million in funding.
USA
US Department of Justice moves to block $5.3bn Visa-Plaid deal
US regulator files lawsuit against Visa, accusing it of monopolistic tactics.
UMassFive College Federal Credit Union goes live on Fiserv’s DNA
Fiserv EVP praises the credit union’s “commitment, dedication and efforts”.
NerdWallet makes second acquisition in 2020 with Fundera
The deal with Fundera sees NerdWallet continue to diversify its business.
Fast is speeding to a $1bn valuation just one year after seed
The start-up’s speedy route to what could be unicorn status is unusual.
Pinnacle Bank picks Teslar Software to power commercial lending
Pinnacle Bancorp is a $14.5 billion financial holding company based in seven US states.
Accusoft releases new software development kit for PDF functionality
ImageGear PDF enables developers to add a variety of PDF functionalities into an application.
US financial literacy app Jassby plans virtual debit card for kids
The Massachusetts-based fintech wants to help parents teach their children about finance.
Alliance Data to buy BNPL fintech Bread for $450m
The acquirer expects the deal to increase its earnings per share by 2023.
Chime’s app goes down for a day as users complain of rejected purchases
“We are currently experiencing intermittent outages,” Chime said.
TradingView makes UK switch as COVID-19 boosts global users
TradingView has landed six funding rounds totalling $40.8 million.
US challenger Bella plans launch around conversational banking
Bella offers a range of consumer-friendly options, including gifts and randomised cashback.
Engage, empower and advance: Black voices in venture capital
Co-founder of BLCK VC and Storm Ventures associate, Frederik Groce, is on a mission.
Visa to acquire LatAm API-based payments fintech YellowPepper
The value of Visa’s acquisition is also undisclosed.
New US challenger Flyp targets excluded communities
The neobank aims to provide the same service as big banks without the fees.
Calastone acquired by US private equity firm Carlyle Group
Financial details of the agreement have not been disclosed.
US holding firm Syncapay buys Wirecard’s North America business
Wirecard put the market value of its North American business at €824m.
PayPal weighs up crypto acquisitions following major wallet update
BitGo had a valuation of around $170 million in 2018.
JP Morgan launches QuickAccept smartphone card reader to take on Square
QuickAccept was developed by the team from WePay.
FCA and PRA fine Goldman Sachs £96.6m for 1MDB scandal
The investigation found that GSI breached a number of FCA and PRA principles and rules.
Unifimoney signs cross-border payments deal with Nium
The US neobank promises an “enhanced outbound money experience”.
Woman-owned de novo Agility Bank gains regulatory green light in Texas
Agility Bank aims to raise $30 million prior to launch in 2021.
PayPal brings crypto further into mainstream with wallet update
PayPal landed the first conditional crypto licence from the NYSDFS.
Three major US banks make up half of 2020’s $11.39bn fine total
Together, Goldman Sachs, Wells Fargo, and JPMorgan Chase paid $7.85 billion of this total.
Thoma Bravo buys majority stake in risk and reporting firm AxiomSL
AxiomSL’s services cover more than 110 regulators across 55 jurisdictions.
First Women’s Bank picks Fiserv to underpin 2021 launch
The US neobank will operate out of Chicago to challenge small business lending in the US.
Unqork signs Life.io partnership weeks after $207m Series C
Life.io will build its customer engagement apps on Unqork tech.
PeoplesBank picks Nymbus to help launch digital bank Zynlo
Regional US bank stand up digital branc with help from Nymbus.
Silent Eight lands $9m to help firms tackle money laundering
The start-up says it has doubled its valuation in just over a year.
TreeCard raises $1m from Ecosia ahead of 2021 launch
TreeCard, set to launch next year, is made of sustainable cherry tree wood.
Stripe acquires Nigerian start-up Paystack in $200m deal
Paystack has 60,000 business customers across Nigeria and Ghana.
TD Bank files lawsuit against Plaid for “duping” its customers
The bank claims Plaid is violating its trademark and tricking customers into handing over data.
Kish Bank picks CSIs NuPoint to fuel digital change
Bank says CSI has been behind it “all the way.”
CUNA Mutual Group acquires lending platform CuneXus
CUNA has been an early-stage investor in CuneXus since 2017.
Enveil CEO: Fragmented AML regulation creates “Russian doll effect”
Williams likens it to the “Russian doll effect”.
Future economic relief should care for more families
Deserving families have continued to be unfairly excluded from government relief throughout the COVID-19 crisis.
Morgan Stanley fined $60m for improper disposal of personal data
The OCC found examples in 2016 and 2019 of failure to oversee third party companies.
JP Morgan Chase partners with Greenlight for kids account
The JPMorgan Chase app has around 39 million ‘active’ customers.
OCC issues $85m penalty to USAA Federal Savings Bank
Military-supporting lender found to have failed risk management.
US rapper Killer Mike unveils Black and Latino-focused challenger bank Greenwood
Each month, the digital challenger promises to gift $10,000 to Black or Latinx businesses.
