JP Morgan snaps up VC investment analytics software firm Aumni
The financial details of the acquisition, expected to close in H1 2023, have not been disclosed.
News
Pay.com partners Cross River to drive US expansion
Cross River’s compliance, payments and tech infrastructure will allow Pay.com to “scale and reach new markets”.
Employee financial wellness start-up Rain lands $116m in equity and debt
The total funding is made up of a $66 million Series A equity round and a $50 million debt facility.
Crypto exchange OKX set to pull out of Canada citing “new regulations”
OKX says the move is “temporary and we are working with regulators to solve this issue”.
FDIC offloads non-crypto Signature Bank deposits to Flagstar Bank
The FDIC will continue to provide crypto-related deposits directly to customers.
Eastnets migrates Swift and sanctions screening infrastructure to Microsoft Azure
Eastnets is one of the first Swift bureaus to migrate its full infrastructure for the Americas to the cloud.
Mastercard snaps up Swedish AI cybersecurity start-up Baffin Bay Networks
Mastercard intends to fold Baffin Bay’s automated Threat Protection tech into a global “cyber service”.
Rippling raises $500m following collapse of banking partner SVB
The Series E values the firm at $11.25 billion, the same as the company’s Series D in May last year.
Last chance to shine: PayTech Awards 2023 nominations deadline extended
The nominations deadline has been extended to 24 March 2023. Submit today!
SVB Financial Group files for bankruptcy protection in the US
Subsidiaries SVB Securities and SVB Capital are not included in the filing and continue to operate.
Video: FinovateEurope 2023 highlights
Take a look at our highlights video from FinovateEurope 2023 in London.
FinTech Futures: Top five stories of the week – 17 March 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
US corporate card start-up Parker secures $157m in equity and debt funding
Parker will invest in its product offering as it aims to expand across the US in 2023.
US, European agencies seize €44m worth of BTC in crypto mixer raid
The law enforcement agencies seized seven terabytes worth of data, consisting of 1909.4 BTC.
ICYMI fintech funding round-up: Synctera, Natech, Basiq, Payabli
Our weekly fintech round-up for you to get the latest funding news from around the world.
Trade finance industry body ITFA sets up fraud prevention working group
The group will be co-chaired by representatives from the banking sector as well as from fintech firm MonetaGo.
Stripe raises $6.5bn in funding at reduced valuation of $50bn
In March 2021, the fintech landed $600 million in funding, confirming a valuation of $95 billion.
Mexican fintech Clara secures up to $90m in debt financing
The fresh financing follows a $150 million debt facility from Goldman Sachs in August last year.
Global paytech Ingenico names Laurent Blanchard as CEO
Laurent Blanchard replaces Ingenico’s co-CEOs Gerrard Schmid and Rolf Stangl.
Digital economy paytech Tilia lands $22m, makes executive hires
The firm has appointed Brad Oberwager as CEO and Catherine Porter as chief business officer.
Anchorage Digital to cut 20% of staff as part of “strategic realignment”
Despite a “robust and growing” business, Anchorage says the cuts are a necessary part of a “strategic realignment”.
Paymentology partners Fondeadora to expand Mexican payment services
Thanks to Paymentology, the Fondeadora app will enjoy faster transaction processing and advanced security.
Bloomberg to acquire fintech solutions provider Broadway
Bloomberg says Broadway’s solutions “will fill a gap” in its product portfolio.
US regulators shutter New York’s Signature Bank following SVB collapse
Signature Bank is a large lender in the cryptosphere.
Apexx Global bags $25m in Series B funding round
With the new funds, Apexx Global plans to expand further across North America.
HSBC snaps up beleaguered Silicon Valley Bank UK for £1
The Bank of England facilitated the deal over the weekend, in consultation with the Treasury.
What the FinTech? | S.4 Episode 4 | The rise of CBDCs
In this episode of the podcast, we’re joined by Nicholas Soo of HSBC to discuss the future of CBDCs.
Toby Mason joins Bermuda Monetary Authority as COO
Mason is the former COO of SME-focused Allica Bank, a role he held for more than three years.
US Federal Reserve sets up new specialist team to supervise crypto sector
The team will monitor the cryptosphere as regulators look to manage risk and promote innovation.
US fintech Credit Karma launches new Net Worth product
Credit Karma’s users will be given a full picture of their financial status to help them plan their future.
FinTech Futures: Top five stories of the week – 10 March 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
LSEG’s Giact to use Mastercard’s open banking tech for account verification
Through the partnership, Giact says it will be able to deploy Nacha-compliant account verification solutions.
Global paytech Worldline opens white-label metaverse shopping mall
Retailers, service providers and banks “can build up a presence in Web3”, using a modular design method.
Orion Innovation snaps up Banktech Software for undisclosed sum
The acquisition will help Orion bring in open banking solutions and expand its digital and core banking capabilities.
ICYMI fintech funding round-up: NX Technologies, Growfin & more
Our weekly fintech round-up for you to get the latest funding news from around the world.
Kennebec Savings Bank taps Alkami for digital banking platform
The Alkami platform will provide a “consistent” user experience for Kennebec business customers.
US neobank HMBradley picks Thought Machine for core banking tech
HMBradley will utilise the vendor’s cloud-native core banking platform Vault Core to power its services.
Silvergate Capital to wind down operations and liquidate bank
The bank plans to repay all deposits it holds and is also hoping to preserve the residual value of its assets.
Socure lands $95m credit facility from JP Morgan, SVB and KeyBanc
CEO Johnny Ayers says the firm plans to invest in “new solutions, verticals, and strategic acquisitions”.
US fintech lender Fynn nabs $36m in seed and debt funding
With the new funding, Fynn plans to expand across the US and offer its services to more students.
