UK regulator probes Visa’s acquisition of Plaid
The UK’s CMA is looking into potential anti-competitive implications.
USA
Santander gets US challenger bank Upgrade to unicorn status
The San Francisco-based challenger has landed a $40 million Series D.
Credit Sesame acquires Canadian challenger Stack for international expansion
The US loans company is absorbing all Stack employees.
Fintech start-up Synapse cuts 50% of full-time staff
It also signalled its intention to move more of its workforce to Texas.
LenderClose appoints Martina Schubert as its CTO
She joins LenderClose with more than 25 years in information technology leadership experience.
RBC-backed start-up Mydoh launches banking offering for kids
The app and smart card launched more than two weeks ago.
Square buys up Spanish P2P payment app Verse
Verse will join forces with Square’s Cash App.
IBM returns to M&A market with cloud acquisition
The acquisition is IBM’s first since its $34bn buyout of Red Hat in 2018.
SAFE Federal Credit Union goes live on Symitar core
The $1.1bn credit union completed two-year migration.
American Express first foreign credit card player to launch in China
AmEx won initial approval in 2018 for a bank card clearing licence in China.
JP Morgan Chase helps NHS digitise its pre-employment programme
The bank aims to help the NHS put 500 young people in jobs.
Chase Bank signs mobile banking deal with Sensibill
The fintech to provide receipts management in Chase’s banking app.
Bank of America goes live on securities platform from Wematch and Pirum Systems
The combined system made its first transaction on 10 June.
Stripe adds Bacs Direct Debit to compete with UK rivals
Stripe will directly compete with UK home market player GoCardless.
Chargeback raises $6.6m in Series A funding
The round was led by Fintop Capital and Next Frontier Capital.
Two credit unions go live on Corelation KeyStone
Corelation gains a pair of go-lives in Hawaii and Pennsylvania.
M1 Finance raises $33m in Series B funding
Left Lane Capital led the new round, brining M1’s total raised to $55m.
Banking Circle helps Amazon sellers avoid international fees in US
Sellers can avoid the 3.9% international transaction fee.
Bank of America’s Merrill revamps client management workstation
The old system has been in place since the early 2000s.
Halal fintech Wahed lands $25m from Saudi Aramco’s venture arm
The Islamic finance industry is set to grow to $3.8tn by 2022.
Documentation firm H4 snags $27m in funding from Goldman, JP Morgan, Barclays
H4 claims that documentation in capital markets is ripe for change.
US and French regulators team up to ease fintech market entry
Both regions want to boost their statuses as financial technology hubs.
La Capitol Federal Credit Union picks Corelation’s KeyStone
A go-live is expected in May 2021.
US digital banking rules could change as OCC calls for input
But the regulator is not considering a national bank charter for fintechs.
Real-time payments and fraud: what can be done?
To effectively manage fraud risk, companies should use advanced analytics techniques.
OakNorth partners with major US lender PNC Bank
The bank is using OakNorth’s COVID Vulnerability Rating (CVR) framework.
Omega Federal Credit Union deploys Episys on the cloud with MDT
Pennsylvania credit union looks for flexibility with new system.
Varo raises $241m Series D with new investor Gallatin Point Capital
To date, the fintech has raised $419.4 million.
Libra’s Second Wind
Some say slow progress of blockchain adoption is not just because of regulatory hurdles.
Tink lands second strategic investment from PayPal
As part of the deal Tink will cover all countries in EEA for PayPal.
Goldman Sachs says crypto is “not a suitable investment” on invite-only call
Bitcoin reclaimed its $10,000 territory on Monday.
ComCard aims to challenge US corporate banking with rewards-based card
The Los Angeles-based challenger aims to “simplify” financial management.
Western Union reportedly makes acquisition bid for MoneyGram
Two of America’s largest money transfer and remittance services could be joining forces.
Financial text message platform Stackin’ lands $12.6m
The fintech says it has more than one million subscribers in just one year.
TIS raises $20m for its B2B payment platform
TIS will use the investment from Aquiline and 83North for its global expansion.
Transact Bank partners with telehealth start-up Hopdoc
Transact Bank’s parent company Transact Pro will facilitate the payments.
Northern Trust to deploy BlackRock Aladdin in new partnership
Chicago-based corporate bank extends “long-standing relationship” with BlackRock.
Mambu snaps up MD for North America arm from Finastra
Johanna Pugh spent four years at core banking provider Finastra.
Credit fintech Curu lands $3m in seed funding
The start-up offers an integrated SaaS product for lenders.
Getting reconciliation right in the “decade of data”
FinTech Futures sat with Douglas Greenwell, reconciliation expert at Duco.
