Digital challenger Inter promotes SVP Alexandre Riccio to Brazil CEO
Riccio has been tasked with overseeing “an even more intense drive to deliver results”.
USA
Sequoia Capital reportedly offers Stripe investors share deal as fintech valuation tops $70bn
The firm is said to have made the offer through an email sent to LPs this week.
Mexican fintech start-up OCN lands $86m Series A funding round to drive international expansion
OCN provides gig workers in Latin America and the US access to capital for car rentals.
US regulators fine Citigroup $136m for “insufficient progress” towards compliance with 2020 consent order
The OCC and the Federal Reserve Board have fined Citigroup $75 million and $60.6 million, respectively.
Blockchain-powered clearing and settlement fintech Partior raises more than $60m in Series B funding
Partior was founded as a joint venture between JP Morgan, DBS Bank and Temasek in 2021.
Diamond Credit Union partners Tyfone for nFinia digital banking platform
Diamond was a longstanding client of Cubus Solutions, which Tyfone acquired in 2023.
ICYMI fintech funding round-up: Lemon.markets, Trustap, Adfin, Accend and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Intuit to cut 10% of workforce amid plans to boost investment in “key growth areas” such as AI
Intuit plans to hire 1,800 new workers to support the firm’s aim to capitalise on the “AI revolution”.
Bain Capital to acquire US fintech Envestnet in $4.5bn deal
Reverence Capital is also participating in the transaction, alongside a consortium of additional investors.
Skipify names former Airbnb Payments chief Sam Shrauger as new COO
Shrauger previously served as CEO and chairman of Airbnb’s US payments arm for over four years.
Malaysia’s Affin Bank partners ACI Worldwide for business payments platform
The bank is leveraging the ACI payments platform to realise a “75% efficiency boost”.
America First Credit Union taps Loquat for small business onboarding solution
The credit union will apply Loquat for digital account opening, payments, reporting and virtual cards.
Global fintech investment fell by 19% in H1 2024, according to new Innovate Finance report
Total investment in fintechs worldwide amounted to $15.9bn in H1 2024, compared to $19.5bn in H2 2023.
Clear Street names former CBOE chief Edward Tilly as new president
Tilly previously served as CEO and chairman of CBOE Capital Markets for over 10 years.
Canoe Intelligence bags $36m Series C led by Goldman Sachs
The latest funding adds to the firm’s $25 million Series B round in 2023.
Avidia Bank to adopt Personetics’ AI-powered engagement engine through new Q2 Digital Banking Platform
The bank will integrate Personetics’ AI engagement engine into the Q2 platform.
Azqore selects Volante Technologies’ PaaS tech for SEPA instant payments
Azqore previously selected Volante to accelerate its ISO 20022 adoption programme in 2022.
Bain Capital reportedly closing in on deal to acquire Envestnet
The potential deal could be announced as early as this week, according to a report by Reuters.
First Federal Bank of Kansas selects Jack Henry for core processing solution
FFBKC aims to leverage Jack Henry’s tech to extend its services to SMBs.
Visa and Mastercard to extend inter-regional interchange fee caps in the EEA until 2029
The payments giants originally agreed to the caps to settle an EU antitrust investigation in 2019.
Netevia secures up to $120m in debt financing from WhiteHorse Capital
The fintech plans to use the funds to “complete key acquisitions” and “rollout new products”.
Andrews Federal Credit Union taps Blend for deposit account opening solution
The solution includes counteroffer and funding capabilities, automated IDV, and banker-to-member engagement tools.
Silvergate to pay $63m in penalties to settle with US regulators
Silvergate announced it was winding down crypto-focused Silvergate Bank in March 2023.
Robinhood buys AI-powered investment research platform Pluto Capital
The deal comes less than a month after the digital trading platform announced its $200 million purchase of Bitstamp.
Chime acquires employee rewards start-up Salt Labs
Salt Labs’ CEO Jason Lee will take charge of the neobank’s new Chime Enterprise division.
US FDIC issues consent order to Thread Bank
The consent order, effective 21 May, mandates Thread Bank to enhance its oversight of its BaaS programme.
US fintech start-up Rainforest lands $20m Series A led by Matrix Partners
Rainforest says it provides embedded payment processing tech “purpose-built for software platforms”.
BlackRock to acquire private markets data provider Preqin for $3.2bn
The deal will see Preqin’s data and research tools merge with BlackRock’s portfolio management platform Aladdin.
US start-up Arrow emerges from stealth aiming to streamline healthcare payments
To support its launch, Arrow raised $110 million in a Series A round in May 2022.
US start-up Payabli raises $20m in Series A funding round led by QED Investors
The payments infrastructure firm will use the new funds to fuel product development and customer acquisition.
ICYMI fintech funding round-up: Ximple, Hero, Curve, Chift and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Washington’s Industrial Credit Union selects Mahalo Banking to enhance digital banking experience
The partnership seeks to “deliver an optimised member-centric experience”.
Brazil’s Nubank buys AI-powered data intelligence start-up Hyperplane
Nubank plans to harness Hyperplane’s AI expertise to enhance its core machine learning capabilities.
Frost Bank in Texas taps Finzly for instant payments
The San Antonio-based bank has deployed the vendor’s single API instant payments platform.
US regtech start-up Norm Ai raises $27m Series A funding
The investment brings the total raised by Norm Ai over the past 11 months to $38 million.
Mashreq to roll out Flexcube core banking system across global operations
Flexcube will be implemented at Mashreq’s international hubs in Hong Kong, the US and the UK.
Bank Midwest launches new digital bank for US healthcare industry powered by Finastra
Bank Midwest says OnePlace.bank will be “a natural progression” of its OnePlace Capital division.
iBusiness Funding snaps up Funding Circle’s US business for £33m
Funding Circle first announced the planned sale in March and expects to close the transaction this month.
New start-up Fideo Intelligence launches offering data-driven fraud-fighting solutions
The start-up operates under identity resolution SaaS platform FullContact.
PayPal hires Srini Venkatesan as new CTO
Venkatesan succeeds Archie Deskus, who has served as CTO for the past eight months.
