CFPB proposes new laws to stamp out NSF fees for transactions declined in real time
NSF fees on debit card and ATM transactions will be “unlawful” under the proposed rule.
News
BillingPlatform lands $90m growth equity investment from FTV Capital
BillingPlatform previously raised $10 million in a Series B round back in 2019.
Navy Federal Credit Union taps Oracle for cloud and account servicing tech overhaul
The largest credit union in the US will leverage four different Oracle solutions to boost automation and efficiency.
ModernFi lands $18.7m Series A funding to boost deposit network expansion
The fintech last raised $4.5 million through a seed round in February 2023.
US fintech Brex to axe 20% of workforce
The cuts are part of an organisational restructure, with founder Pedro Franceschi saying the firm grew too quickly.
Grow Financial FCU taps NCR Atleos for ATM management
The Tampa-headquartered credit union claims to operate 70,000 surcharge-free ATMs across the US.
Former Sutton Bank exec Glenn Murray joins start-up Evolution 2100 as chief strategy officer
Evolution 2100 plans to provide a suite of financial services for underserved communities and businesses.
The Philippines’ UnionBank taps Informatica for MDM solution
Informatica says the solution provides an “enterprise-wide, 360-degree view of customers”.
PayTech Awards 2024 sponsorship opportunities
Unmissable sponsorship opportunities – digital and physical – at the upcoming PayTech Awards on 28 June.
US fintech Kashable raises $25.6m Series B funding
Californian venture capital firms Revolution Ventures and Moneta Ventures led the round.
Ally Financial sells POS financing business to Synchrony
Synchrony says the acquisition will also include $2.2 billion in loan receivables.
SME lender FundPark doubles credit facility with Goldman Sachs to $500m
The $250m expansion builds on an earlier $250m ABS facility secured by the fintech in April 2022.
Italy’s Objectway doubles down on North American wealth market with acquisition of Nest Wealth
The deal will see the fintech take ownership of Nest Wealth’s digital wealth solutions and client portfolio.
Oracle strikes deal with Slovenia’s SID Bank for core banking and payments technology
The bank will utilise Oracle’s core banking, payments, trade finance, treasury and corporate lending applications.
Digital Onboarding plans product and team expansion following $58m growth capital injection
The Boston-based engagement platform says it is looking to double its staff headcount by the end of the year.
DailyPay secures $175m in debt and equity to tap new markets
The $75 million equity funding valued the NYC-headquartered fintech at $1.75 billion.
Synchrony hires former Santander exec Pierre Habis to lead consumer banking
Habis previously served as chief consumer banking and digital transformation officer at Santander.
Cartoon: Thawing
A new cartoon illustrating how hopes of the end of the crypto winter are starting to become real.
US private equity firm WCAS buys majority stake in EquiLend
WCAS will also commit $200 million to fuel the future growth of EquiLend.
India’s CSB Bank taps Oracle for Flexcube core
The bank is set to replace its homegrown Maarvel core system with Flexcube.
FinTech Futures: Top five news stories of the week – 19 January 2024
Our pick of the top fintech news stories this week includes Citi, Sainsbury’s Bank and more.
ICYMI fintech funding round-up: Prometeo, Zeal, Detected and Finbridge Global
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Join us as a judge for PayTech Awards 2024!
The prestigious PayTech Awards 2024 invites payments professionals to apply to join the esteemed panel of judges.
Colorado’s Elevations Credit Union partners Alkami for digital banking platform
The credit union hopes Alkami’s digital platform will help it grow its retail and business portfolio.
Specialist neobank Panacea Financial bags $24.5m Series B funding
Panacea says it will use the capital to expand its financial services suite built for US doctors.
Put yourself in the spotlight at this year’s Banking Tech Awards USA
Nominations for the 2024 awards are now open – apply today!
Gigs appoints Adyen alumni Steven van Bommel as head of finance
The telecom-as-a-service platform has previously tapped talent from Nubank, Klarna and Revolut.
Danske Bank adopts Broadridge’s Tbricks for multi-asset trading and market making
Tbricks is the US-headquartered fintech’s principal trading and market making solution.
Save the date: The Banking Tech Awards celebrates its 25th anniversary on 4 December
Nominations for the 25th annual Banking Tech Awards will open this spring.
Global Credit Union to acquire First Financial Northwest Bank for $231m
The transaction is expected to close in Q4 2024, subject to approvals and customary closing conditions.
Citigroup to cut 20,000 jobs over two years after Q4 downturn
The bank is anticipating run rate savings of $2 billion as a result of the cuts.
Subscription billing fintech Recurly names Joe Rohrlich as CEO
Rohrlich previously served as CEO of Top Hat, a US-based higher education engagement platform.
Canada’s Vancity names Wellington Holbrook as president and CEO
Holbrook takes over from Nez Aquino, who has served as interim CEO since July 2023.
Commerzbank forms joint venture with Global Payments for SME payment solutions
The new joint venture, Commerz Globalpay, is expected to launch in H1 2024 and will be based in Frankfurt.
JP Morgan Chase-owned WePay reportedly offboards a number of business clients
JP Morgan Chase bought WePay back in 2017 in a $400 million deal in a push to compete with Stripe.
US-based Citizens State Bank taps Revio to fuel customer growth
The bank will adopt the Revio platform to tap customer expansion opportunities.
Circle gears up for second attempt at IPO with new SEC filing
The stablecoin company has confidentially submitted a draft registration statement with the US regulator.
FinTech Futures: Top five news stories of the week – 12 January 2024
Our pick of the top fintech news stories this week includes Zilo, Ant Group, FirstOntario and more.
ICYMI fintech funding round-up: KlariVis, Komunal, Maalexi, Cleva & CSI
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Social media platform X aims to deliver P2P payments this year
The social media platform has obtained a money transmitter licence in 14 US states so far.
