US hospitality fintech Toast to cut 550 jobs as part of restructuring plan
The fintech says the restructuring plan is intended to “promote overall operating expense efficiency”.
News
Capital One acquires Discover Financial Services in $35bn deal
The transaction brings together two of the largest card issuers in the US.
Personetics appoints Udi Ziv as new CEO as co-founder David Sosna steps down
Ziv has previously been CEO at Kissterra, Earnix and Pontis in recent years.
Mexican neobank Hey Banco’s split from Banregio due for 2025
The move, announced in 2020, was expedited by Hey Banco’s banking licence authorisation last July.
Canada’s EQ Bank taps Trulioo for ID verification solution
EQ Bank to leverage Trulioo’s “customised onboarding experiences” to stay ahead of industry practices.
ICYMI fintech funding round-up: Fordefi, Mia Share, Kema, Coba and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
RockWallet bags former Wyre users after acquiring the firm’s full customer base
The companies have not disclosed the amount paid for Wyre’s customer base.
US Bank partners Pagaya Technologies for inclusive lending with AI
The bank is to instate Pagaya’s AI tech within its Simple Loan function.
Mission Lane appoints former board member Brandon Black as new CEO
Previous CEO Shane Holdaway will guide the firm’s transition as special advisor to Black.
FinTech Futures: Top five news stories of the week – 16 February 2024
Our pick of the top fintech news stories this week includes Monese, Virgin Money, Bank of America and more.
How to choose the right 3D Secure software – an issuer’s guide
A comprehensive guide to ensure you make the best decision when it comes to implementing 3D Secure technology.
What the FinTech? | S.5 Episode 2 | Tokenisation and blockchain interoperability
In the latest episode of the podcast, we’re joined by Jack Pouderoyen, Innovation Manager at Swift.
PNC Bank to invest nearly $1bn to renovate and expand its US branch network
PNC plans to renovate more than 1,200 existing locations and open more than 100 new branches by 2028.
LPL Financial snaps up Atria Wealth Solutions for $805m
The acquisition will see LPL Financial take ownership of Atria’s seven broker-dealer subsidiaries.
Ripple acquires Standard Custody & Trust Company to strengthen regulatory licences
Ripple has recently announced custody partnerships with HSBC, BBVA and Zodia Custody.
Canada’s Float bags $37m credit facility from Silicon Valley Bank
The Toronto-based fintech says the new facility will be used to expand its Charge Card programme.
Digital business bank Grasshopper partners Greenlite for AI-powered due diligence tech
Greenlite’s tech will enable the bank to streamline manual data aggregation and client risk assessments.
2024 Document Fraud Report
From first-party fraud to fraudulent templates available online, here are the most critical risks teams who fight fraud should be aware of.
US-based Primary Bank appoints Crystal Dionne as new CEO
Dionne first joined the bank eight years ago and has spent the last six years as its CFO.
Payments Canada in search of new CEO after Tracey Black announces departure
Payments Canada’s board has now initiated a “comprehensive search” for Black’s successor.
Bank of America customers impacted by data breach through Infosys McCamish Systems hack
It’s thought that 57,028 of Bank of America’s customers have been impacted.
Spain’s Banco Sabadell selects NCR Atleos as ATM network partner
Banco Sabadell customers will now have access to the 1,400 ATMs NCR Atleos manages across Spain.
Nordic Capital snaps up Canadian SaaS fintech Zafin
Zafin has partnerships with a number of global banks including Wells Fargo, HSBC, PNZ and ING.
Trading Technologies branches out into clearing with acquisition of Ateo
The Chicago-based vendor expects to complete its acquisition of Ateo by 29 February.
Deadline extended for Banking Tech Awards USA nominations
You now have until Friday 23 February to get your nominations in.
Desjardins to reduce total number of ATMs and service centres by 30% by 2026
The group’s ATMs and service centres accounted for 3% and 1% of its total transaction volume last year, respectively.
ICYMI fintech funding round-up: Navro, Finally, Cashinvoice, SUMA Wealth 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 – 9 February 2024
Our pick of the top fintech news stories this week includes Worldline, Deutsche Bank, Barclays and more.
Jennifer Taylor joins Plaid as the company’s first president
Taylor joins the fintech from Cloudflare, where she served as CPO for the past seven years.
Germany’s Commerzbank taps Surecomp to revamp trade finance back office
The Frankfurt-based commercial bank has adopted the vendor’s DOKA-NG solution.
Nepal Clearing House selects ACI Worldwide to power National Payment Switch service
Nepal Clearing House expects to launch its NPS service in Q4 2024.
Pagaya secures five-year $280m credit facility led by BlackRock
The new facility consists of a $255 million term loan and a $25 million revolver.
Atlantic Money lands regulatory approval to expand money transfer services to North America and Australia
The fintech has been licenced to operate in Europe since 2022.
Chase plans to open more than 500 new branches and hire 3,500 staff by 2027
The bank also plans to renovate more than 1,700 existing locations across the US.
Oregon State Credit Union partners Bankjoy for account opening and loan solutions
The credit union has signed for the vendor’s online account opening and online loan application product suite.
Entrust in exclusive talks to acquire ID verification solutions provider Onfido
Reuters reports that the deal could potentially value Onfido at around $650 million.
RBC’s US subsidiary City National Bank hit with $65m fine from OCC
The OCC says the fine relates to “systemic deficiencies” in the bank’s risk management and internal controls.
ID Finance lands $150m debt financing headed by i80 Group
ID Finance claims the financing marks its “largest ever financing round” to date.
Vast Bank exits cryptocurrency market, closes crypto banking mobile app
The bank disabled and removed the Vast Crypto Mobile Banking app from app stores on 31 January.
Raymond James Bank to deploy ICE Mortgage Technology’s lending solution Encompass
The software will support the origination of mortgages for high-net-worth borrowers.
