Online brokers halt GameStop trades as SEC investigates
The SEC is “actively monitoring” the “ongoing market volatility”.
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Stripe leads big investment in one-click checkout fintech Fast
Two-year-old Fast has enjoyed exponential growth in the last year.
Craft Bank picks Jack Henry’s SilverLake after 2020 launch
Atlanta-based de novo bank deploys SilverLake in the cloud.
JOFF Fintech Acquisition Spac files for $300m IPO
The Spac is eyeing up fintech, wealth management and gaming sectors.
Berlin fintech Raisin patents Savings-as-a-Service tech in US
The fintech calls it “an interactive graphical user interface (GUI)”.
Paystone raises CAD 69m with support from Canada business fund
The funding is a combination of equity and debt financing.
Plaid raising at $15bn as employees pitched $1,200 per share
US fintechs have enjoyed a wealth of VC interest since the Plaid-Visa deal hit headlines.
US-based paytech Modern Treasury raises $38m in Series B
In 2020, Modern Treasury customers reconciled $1 billion using its platform.
Rapyd raises $300m in Series D, plans more acquisitions
It will double the engineering and product teams and expand the “self-service” element of the platform.
Fintech funding deals globally 18-24 January 2021
Featuring PPRO, iSTOX, Indy, Mercado Bitcoin, and Brigit.
Robinhood hires two execs from US regulator Finra
Former Finra execs Anthony Cavallaro and Josh Drobnyk join the fold.
Chris Brummer in line for CFTC chairman role as Tarbert steps down
President Biden’s reshuffle of regulatory top jobs continues.
Plaid launches incubator FinRise for fintech founders of colour
The incubator is looking to accept just three-to-five start-ups.
Video: Top fintech stories this week – 22 January 2021
FinTech Futures’ weekly news round-up.
New York cash advance app Brigit reveals $35m Series A
Brigit’s CEO is a former Deutsche Bank and Infosys executive.
SWBC picks Finicity Pay to meet new ACH requirements
Account verification needs a boost under new Nacha rules.
Goldman picks Marqeta to power Marcus current account rollout
Marcus plans to launch its new accounts later this year.
Capital One’s “wilful” AML failures land the bank a $290m penalty
Some $16 billion in reportable transactions passed through the bank’s platform.
Fintech funding deals globally 11-17 January 2021
Featuring Checkout.com, MX, Blend, Creditas, and Enfusion.
Goldman Sachs mulls acquisitions to bulk up Marcus
Goldman’s CEO intends to make Marcus a pillar of the US bank’s growth.
CME Group and IHS Markit create post trade joint venture
A handful of CME’s systems will combine with IHS’ MarkitServ.
MX ties up $300m in Series C funding
Utah-based firm has raised more than $500m since launch.
Video: Top fintech stories this week – 15 January 2021
FinTech Futures’ weekly news round-up.
Affirm IPO sees shares surge 98%
Affirm managed to halve its losses by June 2020.
Digital lender Blend raises $300m in Series G funding round
Lending firm plans to expand team and grow its products with the substantial raise.
DXC sells Fixnetix trading system to Options Technology
Options looks to expand its product suite.
Canadian challenger Koho appoints new CTO
Jonathan Klein joins the neobank from Wayfair.
Visa and Plaid call off $5.3bn merger after US regulatory pressure
The two had initially intended to close the deal by June 2020.
FLEX moves 13 US credit unions to its core tech in 2020
Another 12 credit unions are scheduled to go live with FLEX’s core processing tech in 2021.
IHS Markit acquires compliance firm Cappitech after year-long partnership
Cappitech had provided its platform for Markit’s SFTR system.
Stripe cuts off Trump campaign for inciting violence
Payments processor strips Trump for encouraging violence.
Fintech funding deals globally 4-10 January 2021
Featuring Grab, Mynt, Divvy, Mambu, and SimpleNexus.
PAYMYNT Financial buys crypto e-wallet LettucePay
LettucePay operates on top of Stellar Network, an open source blockchain platform.
BBVA shutters Simple after paying $117m for it in 2014
The bank is cutting out standalone entities which no longer make sense to operate solo.
SoFi set to go public via merger with Palihapitiya’s fourth Spac
The IPO will value SoFi at $8.65 billion.
Video: Top fintech stories this week – 08 January 2021
FinTech Futures’ weekly news round-up.
Mambu raises €110m to hit €1.7bn valuation
Cloud core banking vendor has raised over €150m since launch.
Standard Chartered goes live on Cobalt brokerage platform
Major bank signed up to Cobalt’s network last year.
CODE Credit Union implements Symitar’s Episys with MDT
The conversion occurred entirely virtually.
Customer service start-up Glia lands $78m to help banks and credit unions
The round was led by Shopify and Checkout.com backer Insight Partners.
