Worldremit acquires fellow remittance firm Sendwave
Sendwave has a presence in East and West Africa.
USA
JP Morgan’s blockchain platform Quorum moves to Brooklyn
JP Morgan has also made an undisclosed strategic investment in ConsenSys.
Artis Technologies secures $1.5m in seed funding
The Atlanta lendtech grabs its first injection since launching in March.
Nasdaq proposes IPO alternative to raise funds
Nasdaq’s proposal to the SEC pushes for alternative routes to the public markets.
US challenger for teens Copper lands $4.3m
The start-up has built an advisory board of teens.
LA start-up AmplifyX lets investors build portfolios around musicians
From 2015 to 2019, the entire music industry grew sales at a 9% rate.
What the Fintech? Episode 12 | Transformers: more than meets the AI
Matt Sattler, head of HSBC’s innovation labs, reveals what it takes to secure a deal with the bank.
Wells Fargo resumes job cuts after pandemic break
Layoffs, branch closures and cuts to third-party spending are on the table.
Palantir lost $579m in 2019 according to leaked S-1 filing
Big data SaaS firm had net loss percentage of 78% last year.
US unicorn AvidXchange launches secondary offering
AvidXchange says it’s had a three-year growth rate of 133%.
TD Bank pays $122m for obscuring overdraft penalties
US bank charged by CFPB for anti-consumer practice.
Goldman Sachs & Barclays among bidders for GM’s credit card business
GM’s credit card business has about $3 billion in outstanding balances.
Scotiabank pays over $127m for commodities price manipulation
It also faced charges of compliance and supervision failures.
Wildfire Credit Union picks Backbase tech
The Michigan-based firm plans to boost its digital footprint.
Chinese insurtech Waterdrop raises $230m & plans US IPO
Known as Shuidihuzhu in China, its Series D round was led by Swiss Re and Tencent.
Gemini picks Eventus Systems for trade surveillance
Popular cryptocurrency exchange boosts its monitoring.
FIS debuts subscription-based core banking for US community banks
The US vendor aims to supply community banks with bundled software.
Pyramid Federal Credit Union signs for Clear Core data solution
Clear Core’s alpha partnership with Pyramid enables “quick” features.
Robinhood’s value tops $11bn on new funding round
The new valuation increased by nearly one-third from a previous round just one month ago.
Commonwealth collaborates with JP Morgan on emerging tech
The initiative will focus on helping lower- and moderate-income people’s financial lives.
American Express acquires SoftBank-backed Kabbage
Reports earlier this month put the value of the acquisition at up to $850 million.
Amazon in talks to invest in cloud services company Rackspace
The deal would involve Amazon acquiring a minority stake in Rackspace.
PayActiv raises $100m Series C funding round led by Eldridge
The round comes less than a year after it became a Public Benefit Corporation.
Wells Fargo compliance chief Mike Roemer steps down
The major US bank is undergoing a risk restructure.
MUFG Union Bank appoints Devon Bryan as new CISO
Bryan arrives at the bank from a CISO role at KPMG.
Boston Fed collaborates with MIT on digital currency
The partnership will perform technical research related to a central bank digital currency (CBDC).
John Legend-backed challenger Cred.ai runs beta in US
The fintech has built its own underwriting which it intends to outsource.
Linn-Co Federal Credit Union goes live on Episys core system
Credit union completes core switch despite COVID-19.
Huntington Bancshares picks BillGo for faster payments
The Ohioan bank wants to increase the transparency of its services.
Robinhood kicks off hiring spree in Texas and Arizona
Trading app says it plans to hire hundreds of new support staff.
American Express looks to buy US fintech lender Kabbage
Kabbage was last valued at more than $1 billion.
Dosh powers PayPal’s Venmo and US challenger Jelli
The fintech says it will soon have 60 million indirect users.
Payments group Stripe snatches General Motors’ CFO
The payments company has been building out its senior team in recent months.
OE Federal Credit Union picks Symitar’s Episys system
The credit union plans to host the Episys system on the cloud.
US Bank commits $1.15m to Black-led partners to “close racial gaps”
Some 15 partners will receive grants from $50,000 to $100,000.
Facebook forms financial unit led by Libra creator
The new division will cover all financial endeavours by the company.
Police Credit Union picks NCR digital banking platform
The credit union plans to support an expansion in membership.
Banking offering for landlords Zibo lands $10.5m
Zibo is a fintech for the “underserved landlord”.
Business banking challenger Wise launches premium account in US
The Californian challenger piggy backs off BBVA.
BankMobile sells for $35m less than failed deal three years ago
BankMobile was supposed to be acquired back in 2017.
