FinTech Futures: Top five news stories of the week – 16 August 2024
Our pick of the top fintech news stories this week includes Scotiabank, Tally, Experian and more.
FinTech
The shifting credit landscape in the digital age
Will the concept of a credit score as we know it become obsolete?
PayZen lands $32m equity investment and $200m credit warehouse in Series B round
PayZen offers an affordability financing platform to help healthcare patients in the US manage medical bills.
Blockchain firm Consensys hires former Disney exec Dan Odell as CFO
Odell will take control of “all financial operations” at Consensys.
Cartoon: Testing times
AI models are still making mistakes as humans do, just different types of ‘dumb’ mistakes.
The greatest story never told
I suspect it is inevitable that a bit of a rethink around open banking will have to happen.
Setpoint bags $31m Series B funding to fuel research and development
The round builds on Setpoint’s $43 million Series A and takes its total capital raised to date to $76 million.
Experian snaps up behavioural analytics firm NeuroID
Experian will use NeuroID’s tech to enhance its fraud risk suite for clients.
Banking Tech Awards 2024 nominations deadline extended to 6 September
You now have until 6 September to submit your nominations for this year’s Banking Tech Awards!
Demystify Podcast: Demystifying the evolution of trading technology and data centres
In this podcast episode, Dave and Dharm chat with John Bryant of Options Technology and Eleni Coldrey of Equinix.
Broadridge appoints Simon Robertshaw as CTO of trading solutions
Robertshaw joins from The Bank of London, where he served as COO.
Pre-seed fintech investor Techstars cuts global workforce by 17%
Techstars CEO David Cohen says the firm “overbuilt and over hired to support our ambition to scale”.
US fintech Tally to shut down after failing to secure “necessary funding” to continue operations
The fintech had previously secured $80 million in Series D funding in 2022.
Nium looks to expand presence in LatAm with new licence applications
Nium has applied for a Payment Institution licence in Brazil.
Future FinTech Group promotes Hu Li to CEO
Li has served as CEO of FTFT International since January this year.
What the FinTech? | S.5 Episode 13 | Fintech start-ups and navigating the road to sustainable growth
In this podcast episode, we chat with Sam Edge of AWS about the current fintech start-up landscape.
ICYMI fintech funding round-up: Layer2, Qardy, United Fintech, Minos, and more
Our weekly fintech round-up for you to get the latest funding news from around the world.
FinTech Futures: Top five news stories of the week – 9 August 2024
Our pick of the top fintech news stories this week includes NCR Voyix, CIBC, Société Générale and more.
Video: Harnessing AI in financial services with IBM
IBM’s Shanker Ramamurthy and John Duigenan discuss how to overcome the hurdles around AI adoption.
Unit secures new embedded finance partnerships with Vantage Bank and Lincoln Savings Bank
The two new deals come just months after Unit revealed it was cutting 15% of its workforce.
Be more like Suresh
Wouldn’t it be great if you could replace your core banking tech or any system on a regular basis?
NerdWallet to cut workforce by 15% as part of restructuring plan to reduce operating expenses
The job cuts are expected to produce around $30 million in annualised cost savings.
Flywire acquires Invoiced to enhance B2B payments and software capabilities
Invoiced’s SaaS platform enables B2B finance teams to automate AR processes.
Payoneer acquires payroll start-up Skuad in Singapore for $61m
Payoneer CEO John Caplan says the deal will “accelerate our evolution and B2B momentum”.
Sendsprint acquires Nobel Financial to expand remittance services in the US
Scott McClain, Nobel Financial’s chief compliance officer, will also join Sendsprint in the same role.
Video: Optimising cash deposits with Insignis Cash CCO Kate Eadie
Insignis Cash’s Kate Eadie chats with FinTech Futures about democratising the cash savings market.
Atomic to power direct deposit switching for Texans Credit Union through Alkami partnership
Atomic’s solution is available through Alkami’s digital banking platform.
DORA the explorer travels light
Things are only going to get faster and more demanding. So travel light, because you need to go far.
US fintech Octane raises $50m Series E funding led by Valar Ventures
The funds will drive Octane’s market expansion and fuel further product development.
Pagaya set to acquire Silicon Valley’s Theorem Technology for an undisclosed sum
Theorem is an institutional asset manager powered by machine learning technology.
Houlihan Lokey names Andrew Atherton as new fintech managing director
Atherton previously worked for over eight years at Union Square Advisors.
Nuvei set to obtain licence in Brazil with proposed acquisition of Pay2All
The proposed acquisition will enable Nuvei to operate in Brazil as an electronic currency issuer.
Native American-focused neobank Totem set to close down
The neobank claims to have accumulated over 500 customers since launching its app in 2023.
Bilt Rewards elevates valuation to $3.25bn with new $150m investment
This raise follows Bilt’s $200 million funding in January, which valued the company at $3.1 billion.
Bain Capital completes deals to acquire Finova and Iress’ UK mortgages business
Under BCTO’s ownership, the two entities will merge to become a single combined business.
EPI’s roll-out begins but scheme compliance and dispute resolution questions remain
As the project expands across Europe, the EPI’s new payments solution has a number of areas to consider.
ICYMI fintech funding round-up: Rillet, Aveni, Mamo, Payflow, and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
FinTech Futures: Top five news stories of the week – 2 August 2024
Our pick of the top fintech news stories this week includes Renasant Corporation, Stripe, ING and more.
Demystify Podcast: Demystifying Careem’s everything app with Abhishek Tripathi of Careem Pay
In this podcast episode, Dave and Dharm chat with Abhishek Tripathi, Head of Product at Careem Pay.
Is it time for banks to turn and face the change?
As society evolves, traditional banks must adapt, or else they face an inevitable demise.
