Banking Technology Magazine February 2023 issue out now
Cover story: HAPPY DAZE – Banking for cannabis businesses boosted.
News
Bank of Nevis International taps Tookitaki for AML tech
The Caribbean bank will deploy Tookitaki’s Anti-Money Laundering Suite (AMLS).
US neobank Oxygen bags $20m Series B, appoints new CEO
Former Sber CTO David Rafalovsky joins Oxygen as CEO, replacing founder Hussein Ahmed.
Mizuho Bank in core banking tech overhaul with Oracle
Oracle’s solutions will support “critical” functions, including direct deposit accounts and liquidity management.
US fintech Stash appoints Liza Landsman as new CEO
Prior to joining Stash, Landsman served as general partner at NEA, a global venture capital firm.
Cartoon: Tarred with the same brush
This cartoon illustrates how the collapse of the speculative crypto market has impacted the blockchain sector.
FIS reportedly axes 2,600 jobs amid ongoing strategic review
Bloomberg reports the cuts have taken place over the past few weeks.
FinTech Futures: Top five stories of the week – 3 February 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
BBVA migrates its investment banking platform to the cloud with AWS
BBVA says the AWS platform “provides greater computing power” to make financial market-related calculations.
US Bank launches automated payroll deposit feature for new accounts
The automated process is available on the bank’s mobile app and online banking platforms.
Paytech Highline names Rebecca Mowat director of partnerships
Mowat brings over 20 years’ worth of experience in international trade and business to Highline, the firm says.
JP Morgan reportedly planning German digital bank offering
The launch is set for late 2024 or early 2025, Bloomberg reports.
US start-up Finley secures $17m in Series A fundraise
The round was led by CRV with participation from both new and existing investors.
PayPal to lay off 2,000 staff over the next few weeks
The job cuts will see PayPal reduce its total staff headcount be around 7%.
Treasury Prime bags $40m in Series C funding
With the funding, Treasury Prime plans to build out its solution and develop new products and services.
US lender Upstart to cut 20% of jobs in bid to return to profitability
Upstart is also suspending development of its small business loan product.
US payments platform Moov lands $45m Series B
The funding will be used to refine and scale the platform, and address new payments use cases.
Marqeta makes first M&A foray with $275m Power Finance deal
The acquisition, Marqeta’s first, will “significantly boost” the firm’s credit product capabilities.
Data management platform Finbourne lands £30m debt facility with Kreos
The debt facility constitutes an extension to Finbourne’s Series A funding held in April 2021.
Turkey’s Quick Finans taps Provenir for data and risk decisioning platform
Quick Finans selected Provenir’s tech to enhance its customer onboarding process.
Valor PayTech hires Riaz Ladha and Eric Kirk to lead new business unit
Valor CEO Eric Bernstein says the pair will help the firm build new partnerships.
Marqeta appoints Simon Khalaf as new CEO
Khalaf joined in June as chief product officer and will replace founder, chair and current CEO Jason Gardner.
Departing Coinbase CPO Surojit Chatterjee reportedly made $115m at firm
Chatterjee joined Coinbase in 2020 on a five-year contract but is leaving due to family illness and bereavement.
Cartoon: Rebrand
A new cartoon illustrating how NFTs are quickly evolving to new use cases.
US fraud detection start-up Inscribe raises $25m in Series B funding
With the new capital, Inscribe plans to further develop its fraud detection capabilities.
FinTech Futures: Top five stories of the week – 27 January 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Crypto firm Luno lays off 35% of its workforce
Luno’s CEO cites the global economic downturn and the crypto winter as reasons behind the layoffs.
What the FinTech? | S.4 Episode 1 | Bankers like us
In this episode, we’re joined by Leda Glyptis of 10x Banking to chat about her new book – Bankers Like Us.
ICYMI fintech funding round-up: Twinco Capital, Architect and more
Our weekly fintech round-up for you to get the latest funding news from around the world.
SMB financial health platform Nav acquires Nuula
Nav says the acquisition will boost its existing offerings for small businesses.
US fintech Marygold & Co names Timothy Rooney as new president
Rooney will be tasked with ensuring the successful launch of the firm’s new financial services app.
B2B BNPL platform Tranch raises $100m in debt and equity
$5 million have been raised in equity while the rest – $95 million – have been taken on as debt.
US fintech PayEm bags $220m in funding
The funding came from Viola Credit, Mitsubishi Financial Group, Collaborative Fund, and others.
US fintech DailyPay lands $260m funding to fuel growth
The company will look to boost domestic growth, expand internationally and invest in product innovation.
Corlytics acquires regulatory lifecycle platform ING SparQ in €5m deal
Corlytics’ CEO John Byrne says the deal “sets the runway for further strategic acquisitions”.
Kueski names ex-Stripe exec Fausto Ibarra as chief product officer
Ibarra brings over 20 years of experience, most recently serving as Stripe’s head of product for Latin America.
Video: Envestnet at Money20/20 USA – Harnessing data to improve financial wellness
We chat with Farouk Ferchichi and Eric Jamison of Envestnet about the importance of data aggregation.
PayTech Awards call for nominations
The PayTech Awards 2023 will take place on 30 June at the Merchant Taylors’ Hall in London.
The BaaS Association names first CEO, Bill Briggs
Founded last year, the association says it represents over 80% of current BaaS sponsor banks in the US.
Several major US banks reportedly team up on new digital wallet project
Seven banks are working on an e-wallet linked to consumers’ debit and credit cards, The Wall Street Journal reports.
