Colendi lands banking licence to become Turkey’s first digital deposit bank
As Turkey’s first digital bank, ColendiBank is aiming to reach 50 million customers regionally.
Business-to-Business/B2B
Velo Payments to acquire payment processing platform YapStone
The acquisition is subject to regulatory approvals and customary closing conditions.
FullCircl reinforces compliance suite with W2 Global Data Solutions acquisition
Under the terms of the deal, W2 will now trade as ‘W2 by FullCircl’.
WealthKernel confirms Aqsa Tariq as new chief financial officer
Tariq joins WealthKernel from FNZ Group, where she was group head of business intelligence for three years.
GoLogiq signs letter of intent to acquire Fram Venture 7 and SME lender DragonLend
The $6 million deal is to be completed via an all-stock transaction by September.
Adyen shares tank following underwhelming H1 2023 results
The company attributed the performance to hiring costs and US competition.
Peoples Bank taps Corserv to launch credit card programme
With Corserv, Peoples Bank will be able to offer 14 different credit card products to its business and retail customers.
FinTech Futures: Top five stories of the week – 18 August 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
ICYMI fintech funding round-up: Communion, CityPay & more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
TrueLayer appoints former PayPal director Michael Brown as head of e-commerce
Brown joins the open banking payments network from PayPal, where he was director of UK enterprise sales.
Indian neobank Zolve expands into expat-friendly mobile services with telecom-as-a-service platform Gigs
Zolve’s telecom-financial offering is tailored for expats pursuing educational or professional opportunities in the US.
Splitit plans to go private for stringent $60m capital commitment
Part of the commitment requires the US BNPL vendor to redomicile to the Cayman Islands.
Cameron Fowler to serve as Early Warning’s new CEO
With more than 20 years of work experience, Fowler joins Early Warning from Canada’s BMO Financial Group.
Payroll fintech OneBlinc secures $100m credit facility with Clear Haven
The fintech landed $20 million in a Series A funding round in June 2022.
Okan Ozaltin appointed as chief product officer of 10x Banking
Ozaltin brings more than 20 years of fintech experience to 10x, having worked at Signifyd, Fiserv and JP Morgan Chase.
TerraPay lands EMI licence in Italy as it plots European expansion
With the approval, TerraPay is now looking to expand within Italy and subsequently across the European Union.
Paytech Matera acquires Brazilian AI firm Cinnecta for undisclosed sum
The acquisition will enable Matera’s clients to enhance their sales capabilities through actionable insights.
DLocal appoints Pedro Arnt as co-CEO amid reports the firm is exploring a potential sale
Arnt is to join current CEO Sebastián Kanovich to lead the firm’s future endeavours.
Singapore’s MVGX launches carbon SaaS subsidiary, appoints ex-BSI exec to take the lead
Frank Zhang, “a fintech, ISO standard certification and sustainability veteran”, will lead the new subsidiary.
Monzo tops CMA banking satisfaction survey once again
The independent survey was carried out by Ipsos and BVA BDRC between July 2022 and June 2023.
SEC brings the hatchet down on Wall Street’s bad recordkeeping with $289m in fines
The SEC has leveraged 30 enforcement actions to date against firms failing to comply with recordkeeping requirements.
The Savings Bank Group of Finland taps Tietoevry to replace lending platform
The Savings Bank Group says the new lending platform will enhance its digital offerings and operational efficiency.
DBS completes acquisition of Citi’s consumer banking business in Taiwan
DBS has also absorbed close to 3,000 employees from Citi Consumer Taiwan.
Roland Folz to lead CloudPay as newly appointed CEO
Folz joins CloudPay from the German credit institution Solaris SE, where he served as CEO from 2017 to 2023.
Mastercard signs MoU to buy minority stake in MTN’s $5.2bn fintech business
MTN says its partnership with Mastercard will enable its customers “to participate in the global economy”.
UK fintech Paytrix appoints Joe Redmond as CEO of Ireland operations
Paytrix describes Redmond as a “heavyweight of Ireland’s financial services sector”.
Torpago confirms two new senior hires following “significant growth”
James Yacobucci has been appointed to head of bank partnerships and Noah Martin to head of capital markets.
ConnexPay appoints former PayPal exec George Hansen as chief revenue officer
Hansen joins ConnexPay from PayPal, where he served as head of global sales and account management.
Indian fintech start-up Credgenics secures $50m Series B funding
The round was led by Westbridge Capital, Accel, Tanglin Ventures, Beams Fintech Fund and other strategic investors.
Mobility fintech Moove secures $76m funding to fuel global expansion
The latest investment brings Moove’s total funding to date to over $335 million across equity and debt.
Payabl. secures EMI licence in the UK
Payabl. says the authorisation will “unlock significant opportunities” as it looks to expand across the UK.
Naga integrates Rezolve AI into its social trading platform
The integration is also set to extend to Naga’s e-payments solution, Naga Pay.
Banque de France, ERAFP, Generali Group tap Iceberg Data Lab for ESG data solutions
The clients will be able to access Iceberg Data Lab’s ESG dataset available via its impact calculation platform.
Singapore’s Endowus raises $35m as it eyes regional expansion
The round saw participation from existing investors including UBS Next, EDBI and Prosus Ventures.
Vijay Shekhar Sharma buys 10% stake in Paytm worth $628m from Antfin
Sharma’s shareholdings in Paytm will increase to 19.42%, while Antfin’s shareholdings are reduced to 13.5%.
State of play: 2023 so far
What’s the current state of play for the financial services sector and what can we expect for the remainder of 2023?
US insurtech start-up Lula raises $35.5m Series B funding
The insurtech previously raised $18 million in its Series A funding round of July 2021.
Stripe appoints Steffan Tomlinson as CFO
Tomlinson, who joins from Confluent, brings more than 25 years of experience to his new role.
Mexican challenger Albo snaps up Delt.ai for $20m
The acquisition makes Albo “the only neobank to offer debit and credit products for both consumers and SMBs”.
Novo secures $125m credit facility to provide working capital to small businesses through Novo Funding
Once approved, small businesses will have instant access to up to $75,000 of working capital.
