Sardine forms industry consortium to help tackle payment fraud
Founding members include Chesapeake Bank, Visa, Airbase, Blockchain.com, Alloy Labs Alliance, iLex, and Novo.
homepage-featured-4
Robinhood reportedly laying off 7% of staff in fresh round of job cuts
The news marks Robinhood’s third round of layoffs since April 2022.
US fintech Ramp buys AI customer support platform Cohere.io
Cohere.io’s entire team, including CEO Yunyu Lin, will join Ramp as part of the deal.
Goldman Sachs reportedly set to lay off 125 managing directors worldwide
Sources tell Bloomberg that the layoffs are currently ongoing as the bank looks to cut costs.
Star One Credit Union taps Tyfone to implement instant payment solution
The solution is certified for FedNowSM, the Federal Reserve’s new instant payment offering launching in July 2023.
JP Morgan Chase appoints new chief data and analytics officer
Heitsenrether will be responsible for leading the adoption of AI across the bank’s operations.
PE firm Flexpoint Ford acquires loan origination fintech Baker Hill
The transaction is expected to close soon following customary regulatory approvals.
Robinhood snaps up credit card platform X1 for $95m
The acquisition is expected to close in Q3 2023, subject to customary closing conditions.
FinTech Futures: Top five stories of the week – 23 June 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
ICYMI fintech funding round-up: Mypinpad, Navadhan, TransBnk & more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
US paytech Fortis expands into Canada, acquires SmartPay
The move marks Fortis’ first expansion outside the United States.
Google Cloud launches AI-powered AML offering for financial institutions
Google Cloud claims its AML AI solution helps increase risk detection and lower operational cost.
Visa names Chris Suh as new chief financial officer
Suh replaces longstanding Visa CFO Vasant Prabhu, who is set to retire on 30 September.
ACI Worldwide launches Instant Pay solution for European merchants
Merchants using Instant Pay will be able to accept instant online, mobile and in-store payments.
Cartoon: Rules of the road
A new cartoon illustrating the enforcement approach that US regulators are taking with the crypto industry.
SVB Financial Group agrees sale of its investment banking business, SVB Securities
The bidding group is led by Jeff Leerink, SVB Securities’ CEO and founder.
Colombia’s central bank taps Ripple to test blockchain use cases
The central bank plans to test Ripple’s CBDC platform in a controlled environment.
Citi TTS taps Pismo to strengthen demand deposit account solutions
Citi will initially deploy Pismo’s cloud-based core solutions in the US market.
US risk intelligence firm Blackbird.AI lands $20m Series B
Blackbird.AI helps organisations detect and respond to threats that can cause reputational and financial harm.
ICYMI fintech funding round-up: Kanastra, Majority & Cloudbankin
Our weekly fintech round-up for you to get the latest funding news from around the world.
Digital banking tech provider Backbase acquires wealthtech Nucoro
Nucoro’s offering will be incorporated into the Backbase Engagement Banking platform.
Payments Canada further delays launch of real-time payment system
During the next three months, Payments Canada will review the risks identified in the delivery of the Real-Time Rail.
US fintech start-up Paro lands $25m Series C funding
With the latest funding, Paro has raised $67 million to date.
Wealthtech OneVest secures CA$17m in Series A funding
It will use the funding to accelerate growth, expand into the US market, and to expand its team.
FIA Tech raises additional $25.4m in funding round
The fresh funding brings its total capital raised to almost $70 million.
FIS acquires BaaS start-up Bond for undisclosed sum
In an internal memo, FIS shares that it completed the Bond acquisition on 8 June.
UK paytech GoCardless lays off 15% of its workforce
GoCardless cites the current economic environment as the reason behind the layoffs.
Nasdaq to acquire software firm Adenza for $10.5bn
The transaction, subject to regulatory approvals, is expected to close within six to nine months.
Canada’s Interac appoints Jeremy Wilmot as new CEO
Wilmot succeeds Mark O’Connell, who will be retiring on 31 October 2023.
FinTech Futures: Top five stories of the week – 9 June 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
US fintechs Boom and Finch secure funding
A handy round-up of the recent funding endeavours of fintech companies across the US.
Paytech Medius to acquire expense management firm Expensya
Medius says the acquisition of Expensya is “one of the largest in the MENA region”.
US fintech Mosaic secures $26m Series C funding
The round was led by OMERS Ventures with participation from Founders Fund and General Catalyst.
US SEC sues crypto firms Binance and Coinbase
The US regulator has filed charges against both firms this week amid a crackdown on crypto.
US paytech CardFlight appoints new CTO, Brian Butts
CardFlight is a New York-based point-of-sale (POS) solutions provider.
Regtech start-up Consilient names Jeremy Kedziora director of data science
Consilient, a US-based regtech, aims “to transform how the industry prevents financial crime”.
Chargebacks911 hires Bank of America and Apple execs to drive global growth
Guy Harris joins as chairman of the board and Eric M. Hoffman as president of interbank solutions.
Marqeta closes Australia office in bid to cut costs
Marqeta is undertaking “restructuring actions” in Q2 this year to reduce operating expenses.
Chris Rigoni to head BaaS operations at Coastal Community Bank
Chris Rigoni moves from Webster Bank, where he also looked after the company’s BaaS business.
Cross-border payments start-up Keeta launches with $17m funding
Among Keeta’s investors is ex-CEO of Google, Eric Schmidt.
