Commonwealth Credit Union picks Jack Henry to automate lending
The Kentucky-based CU wants to boost its lending capabilities.
USA
Green Dot bags Walmart exec as part of bigger strategic overhaul
The firm also appointed a new CEO in March.
Agora Services launches white label teen account for Finastra
Agora’s CEO says the app launch is “related to” the Revolut Junior launch in the UK.
Diebold Nixdorf’s corporate network hit by ransomware attack
ATM provider detected the attack in April, which is says has been dealt with.
JP Morgan first major US bank to serve crypto exchanges as banking clients
Coinbase lost its previous banking support from Barclays in August 2019.
Morgan Stanley pays $5m fine for misleading investing clients
The bank’s retail “wrap fee” programmes incurred non-transparent charges.
Vise lands $14.5m Series A led by Sequoia Capital
“This is one of the biggest markets on Earth,” says Sequoia.
A bumpy road for alternative lenders
Coronavirus crisis opportunities for alternative lenders come with big risks.
Goldman Sachs-backed fintech Flywire cuts 12% of workforce
A further 16 workers have been put on part-time contracts.
Citizens Bank taps Teslar Software to improve portfolio management
The Arkansas-based bank turned to Teslar following a recommendation from a compatriot lender.
Truist Financial selects TSYS for payments processing
Newly merged commercial bank kicks on with its tech deployment.
N26 lays off 10% of New York-based workforce
The losses are the first to be put down to operational reasons.
Truliant Federal Credit Union picks Lodestar Technologies’ data solution
Truliant FCU wants to make better use of its enterprise data.
Amazon Web Services VP resigns over whistleblower firings
The engineer quit in protest over AWS’ handling of warehouse employees amid COVID-19.
Ivy Lender calls out banks and fintechs for exploiting PPP
“Most banks are saying they have offerings [for small businesses] when they don’t.”
ABA unveils suite of core banking selection resources
US association continues campaign to diversify core banking market.
US challenger Bambu picks FIS Modern Banking Platform
Tennessee-based challenger bank plans to target the underbanked.
Investing app Stash lands $112m Series F led by LendingTree
This month Stash also surpassed $1 billion in assets and 4.5 million users.
Mastercard-backed Trust Stamp spins out subsidiary AiiD Global
EXCLUSIVE: the new subsidiary will specifically develop solutions for emerging markets.
JP Morgan picks Taulia for supply chain finance boost
US bank aims to improve customer experience on the corporate side.
US banks roll back lending to European companies
“We are increasingly observing an ‘America first’ attitude among large US banks.”
Northern Trust hires Alison Pain as new EMEA CTO
Pain joins from Deutsche Bank and will lead Northern Trust’s EMEA tech ops.
Cross River Bank raises $100m in Series C funding
The latest round will see Cross River Bank offer tech to venture capital firm in Malaysia.
Currencycloud among first non-bank firms to offer Swift gpi payments tracking
TransferGo, Penta and Money Mover were early participants in the pilot programme.
Noah bags $150m investment
The money came from unnamed institutional investors, including pension funds.
US unicorn AvidXchange lands $128m
The fintech is already backed by PayPal co-founder Peter Thiel and Mastercard.
Webinar: Swift gpi is a chance for payments modernisation
Opportunities beyond meeting the minimum exist for banks embracing gpi.
Monzo applies for US banking licence
Monzo applied to the US OCC for the licence on Monday.
Will America’s second round of PPP avoid mistakes of the first?
Roughly 80% of PPP applicants are still waiting on loans, says NFIB.
SoFi acquires Hong Kong stock trading app 8 Securities
“Hong Kong, a financial capital of Asia, is ripe for innovation,” says SoFi’s CEO.
Three US credit unions pick Bankjoy for mobile and online banking
The three institutions hold a combined $280 million.
Google plans debit card launch in the US
Google is preparing to launch an Apple Card rival soon.
World Fintech Report 2020: “Traditional banks are at a critical juncture”
“They must embrace Open X or risk becoming irrelevant,” says John Berry, CEO of Efma.
Curve bags former PSR CEO as advisor on regulation strategy
Nixon managed the PSR for five years until last year.
DCI nabs Vetter tech suite from AFT Analytics
DCI continues an acquisitive streak focused on strategic growth.
Varo Money takes on Moven’s consumer accounts
Accounts with Moven will shut on 30 April 2020.
Stripe bags $600m in fresh funding to hit $36bn valuation
Stripe recently added Zoom as one of its main customer.
Swift cancels Sibos amid COVID-19 crisis
Delegates that had signed up to attend will be offered a full refund.
Robinhood is raising fresh capital at an $8bn valuation
It apparently made $60 million in March – triple what it made in March 2019.
KyckGlobal signs US push payments partnership with Visa
Firms hope new deal will unlick real-time payments for “countless industries”.
