FinTech Futures: Top five news stories of the week – 19 April 2024
Our pick of the top fintech news stories this week includes Klarna, Ramp, Zopa and more.
News, intelligence and resources on the global fintech industry including topics such as financial results.
Our pick of the top fintech news stories this week includes Klarna, Ramp, Zopa and more.
Zopa says revenues climbed 29.7% “despite the challenging macroeconomic environment”.
Temenos’ board chair says the review “reinforces the board’s view that Temenos is running a sound business”.
The $7.3 billion raised this quarter marks the lowest figure recorded since the pandemic began in 2020.
The London-based fintech says it is now gearing up for an EU-wide launch “later this year”.
NYCB has also made several high-profile appointments to its board of directors.
In Q4 2023, the LA-based neobank generated a GAAP net income of $200,000 and EBITDA of $10 million.
The Swiss vendor was hit with a string of allegations in a Hindenburg Research report last week.
The latest results mark an increase of over 400% on the $24.5 million loss it posted for 2021.
The investor has owned 21% of Monese since leading its $60 million Series B round back in 2018.
You now have until Friday 23 February to get your nominations in.
The German investment bank says the cuts will mainly apply to “non-client-facing areas”.
The cuts are to be actioned with immediate effect, according to a staff memo from Dorsey.
Following a reported net profit of €53.1 million in 2023, Bunq has now applied for a UK EMI licence.
Nominations for the 2024 awards are now open – apply today!
Nominations for the 25th annual Banking Tech Awards will open this spring.
The bank is anticipating run rate savings of $2 billion as a result of the cuts.
It is the second year fintech funding has fallen in the UK, down 70% on 2021 figures.
Monese says its services could be “adversely and potentially severely affected” if new funding isn’t found.
The study surveyed 23 members of UK Finance, including banks and non-banking financial services firms.
Its position on the watchlist was revealed last week via the release of a 217-page dossier outlining a rescue deal for the bank.
Fintech founders reflect on the past year and ponder how to move forwards.
Mbanq says it will support the launch of four new digital banking services in the US by the end of the year.
Open banking payments increased 9.3% between June and July this year.
The company attributed the performance to hiring costs and US competition.
The move comes amid major regulatory enhancements for crypto set by the Canadian financial regulator.
The Italian parliament has 60 days to bring the proposed tax into law.
The move is part of Block’s plans to reduce brand spending.
The bank has seen its customer count jump from around 123,000 during FY22 to 224,000 at present.
Aspire says its results have set “a new industry standard of sustainable growth”.
Marqeta is undertaking “restructuring actions” in Q2 this year to reduce operating expenses.
The Ohio-based firm says the restructuring support agreement is expected to “significantly” reduce debt.
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Joseph Reece joins as chairman of the board with Tim Oliver and David Wilkinson named CEO-designates.
Cover story: EVERYTHING, EVERYWHERE… but is all at once the answer?
Here’s our pick of five of the top news stories from the world of finance and tech this week.
UK-based ClearBank is plotting its European expansion and expects to remain profitable through 2023.
According to The Irish Times, the firm’s liabilities have outstripped its assets by €2.5 million ($2.6m).
Fintech Business Weekly reports the firm is raising $50m at a $1.8bn valuation, a 28% decline in value.
Here’s our pick of five of the top news stories from the world of finance and tech this week.