Bank of America fined by US regulators over fake accounts and junk fees
The CFPB has ordered Bank of America to pay $150m in penalties and more than $100m to affected consumers.
The CFPB has ordered Bank of America to pay $150m in penalties and more than $100m to affected consumers.
Car IQ Pay vehicle wallet enables vehicles to have their own payment accounts to transact directly with merchants.
According to Innovate Finance data, $27.3bn was injected into the industry globally during H1 2023 through 1,714 deals.
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Here’s our pick of five of the top news stories from the world of finance and tech this week.
The credit union intends to create a modernised user experience for its 37,000-strong member base.
Convera will deploy Temenos’ Payments Hub solution running in the Temenos Cloud to replace its legacy systems.
The round was led by Intel Capital, with participation from new investor Allianz Life Ventures, and existing investors.
With the funds, Jirav plans to fuel product development, expand its customer base and attract new talent.
With the new funding, Collective plans to accelerate AI deployment across its operations and add new features.
Dixon intends to “ensure fast and secure payments” and bolster Allied’s information security practices.
Citi Commercial Bank (CCB) says the new platform has been created “in close collaboration” with its clients.
The new seven-year agreement is to last until 31 March 2030.
The US payments platform is to cut 9% of its workforce by Q3 2023.
The company claims its new solution can identify “nearly every citizen in the world”.
Flaws in its US and European payment systems meant that some declined transactions were wrongly refunded.
Apple is reportedly exploring a partnership with HDFC Bank in India to roll out a credit card offering.
Utilising Temenos’ core banking platform, BanCoppel aims to scale its operations and offer more banking services.
Here’s our pick of five of the top news stories from the world of finance and tech this week.
The transaction is expected to close by Q1 2024, subject to regulatory approvals and closing conditions.
The start-up has also secured a $150 million consumer lending program with banking partner Pathward.
Leavy joins the company following a decade-long stint at US financial services firm SEI.
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Jana has gone live with the solution in an effort to streamline and automate its operational processes.
SumUp has also appointed Anna Kuriakose as its new chief product officer (CPO).
Christian Channell joins the cloud-native platform following a 25-year career at Goldman Sachs.
Cheqly’s services include business accounts, physical and virtual Visa cards, ACH payments and wire transfers.
Mascoma Bank will utilise VSoft’s Teller Deposit, Branch Deposit and ATM Deposit solutions.
Laser says the deal will help bring cross-asset post-trade capabilities to institutional digital asset investors.
Sources tell Reuters that FIS will keep a minority stake in the business if the deal goes through.
The petition was filed on 26 June and the final hearing on the case is expected on 28 July.
Of the amount foreseen for 2023, the bank says 1,200 professionals have already joined this year.
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Featuring Orange Bank, Visa, Pismo, Robinhood, and more.
The company says the funding has fueled the growth of its Fintech Fraud DAO consortium, launched last fall.
The bank’s CEO says Avaloq’s solution will enable its clients to have “even more control over their assets”.
The transaction is subject to regulatory approvals and is expected to close by the end of this year.
Socure has integrated Berbix’s tech to launch its new predictive document verification solution, DocV 3.0.
The credit union will utilise Apiture’s Consumer Banking and Business Banking solutions.
Founding members include Chesapeake Bank, Visa, Airbase, Blockchain.com, Alloy Labs Alliance, iLex, and Novo.