Marqeta bags undisclosed Mastercard investment
“We want to invest in products, in customers and invest in continuing to grow globally,” says Marqeta.
USA
Affirm files IPO application, but financials are confidential
Fintechs in the BNPL space have seen their valuations rocket.
Texan challenger Viva First to launch for Latinos before year end
The fintech is piggybacking off Texas-based Spur Security Bank.
Citi to pay $400m OCC fine for risk management failures
“The heavy lift will be the technology upgrade, which [the regulators] will micromanage.”
Breaking down walls
FinTech Futures took this somber moment to sit with Keisha Bell at DTCC.
Sibos 2020: Citi’s CEO calls on banks to deliver social justice
“We have a larger obligation to deliver fairness.”
Bank of America teams up with Black-owned Unity bank
BoA has acquired approximately 5% of the bank’s common equity.
LendingClub shuts retail P2P offering as it focuses on institutional investors
The fintech allowed consumers to invest in Notes, corresponding to fractions of loans.
Goldman Sachs to buy General Motors’ credit card portfolio
Goldman reportedly beats Barclays to nab consumer credit pool worth $8.5bn.
Sibos 2020: JP Morgan CEO tells banks “don’t outsource your soul”
Jamie Dimon believes plenty of outsourcing firms “have no idea what they’re doing”.
Sibos 2020: Finastra steps out of big bank payments bubble with smaller bank offering
“In Europe, these [smaller] banks are the vast majority.”
Temenos hires Roger Klantschi as EVP for Americas
Former Infosys veteran joins Temenos to build on US drive.
Does Europe really need its own Big Tech?
Almost a third of consumers find the idea of banking with a Big Tech appealing.
Jumio talks Asia-Pacific growth, the platform play and new sectors
“There is a long-term value proposition in re-authentication,” says CRO.
JP Morgan Asset Management signs Morgan Money deal with SAP
SAP to deploy Morgan Money on its client-facing delivery platform.
US associations go after OCC’s payments charter in critical letter
The OCC is currently in the swings of introducing another special purpose national bank charter.
Alkami Technology closes $140m funding round
The cloud-based digital banking firm has raised $378 million to date.
Mastercard and ACI sign payments infrastructure partnership
The pair are targeting central banks, schemes, and service providers.
JP Morgan-backed Greenlight joins unicorn club with $215m Series C
The start-up says the new funding will be used to push its customer growth further.
Jumio acquires Beam Solutions’ AML technology
Identity firm plans to boost its KYX platform.
Private banking challenger Letter set to land in California
The start-up is spearheaded by GoDaddy engineer Drew Wilson.
Nymbus undergoes management shake-up with new CEO & CFO
Banking technology firm secures new faces at the top.
MineralTree raises $50 million, acquires Inspyrus and Regal Software
Accounts payable firm plans to take firm grip of mid-market segment.
Citigroup promises $1bn to close US racial wealth gap
Citi figures suggest $5trn could be added to US economy in doing so.
Why do some fintech start-ups experience high exec churn rates?
“Many founders enter the mindset that an hour lost is an hour gained by the competition”.
SpotOn secures $60m Series C funding round from DST Global
The latest round puts SpotOn’s total raised at $190 million.
US challenger One launches all-in-one card to serve middle class
One’s debit card offers a mixture of current, savings, and credit services.
Crypto exchange Gemini launches in UK armed with EMI licence
UK customers can now make GBP deposits to fund their Gemini account.
Robinhood’s valuation continues climb with $460m funding
Robinhood it will use the funding to improve its customer experience.
DTCC appoints Lisa Hershey as new chief compliance officer
Hershey has worked at DTCC for more than a decade.
OCC issues guidance on US banks’ stablecoin activities
The US regulator issues clarification for FIs dealing with crypto.
Goldman Sachs launches transaction banking service with Volante
The new cloud-based system is an “industry first” according to the pair.
Live Oak Bank deploys Finxact core for deposits and loans
The US lender picked Finxact in 2018 to revamp its core systems.
Challenger Envel plans “autonomous” banking with Autumn launch
The fintech claims it will “optimise” users’ money.
UK challenger Samie to launch in 2025
The start-up claims it hit the 500,000 future customer mark in mid-2019.
WeChat transactions ban blocked by US judge
Issues over First Amendment rights causes US magistrate to block US ban.
ClearBank offers multi-currency accounts through JP Morgan API
UK clearing bank claims to be the first of its kind to provide the service.
Leaked FinCEN files show banks allowed $2trn in suspicious transactions
Major leak of suspicious activity reports shows “mind blowing” scale of money laundering issues.
US payments firm Melio raises $80m in Series C funding round
Melio plans to use its new funding to expand and reach more customers.
US regulator plans major refresh for AML laws
FinCEN wants to update the Bank Secrecy Act to reflect modern threats.
