FinTech Futures: Top five news stories of the week – 14 February 2025
Our pick of the top fintech news stories this week includes Moneyhub, TD Bank, QuEra Computing and more.
News, intelligence and resources on the global fintech industry including topics such as job cuts.
Our pick of the top fintech news stories this week includes Moneyhub, TD Bank, QuEra Computing and more.
The D2C closure has resulted in around 36 job cuts, sources tell FinTech Futures.
Zepz raised $267 million in a Series F equity round last October.
The Minnesota Star Tribune reports that the company is permanently closing its headquarters and laying off staff.
Our pick of the top fintech news stories this week includes Finastra, Accenture, Solaris and more.
Ally is also exploring “strategic alternatives” for its credit card business and ending mortgage originations.
Cover story: STAR PEOPLE – Banking Tech Awards 2024 revisited.
City AM reports that TrueLayer cut 71 jobs in September, citing sources familiar with the matter.
Cover story: GOING GREEN – Why sustainable finance is vital.
Banco Santander CEO Hector Grisi previously ordered a group-wide restructuring last year.
CEO Carsten Höltkemeyer says BaaS provider Solaris is “at a pivotal moment”.
Founder Sheena Allen announced on LinkedIn that the start-up “is no longer an active business”.
Tally closed in August, citing insufficient funding as the primary reason for its shutdown.
Cover story: QUANTUM LEAP OF FAITH – Preparing for the advent of Q-Day.
Solaris says the move “regrettably will bring redundancies across the EMI team”.
The UK bank is also reportedly set to cut around 300 roles as part of cost-cutting efforts.
Co-founder and CEO Julien Brault writes that the fintech’s operations are now suspended.
IDPartner Systems closes after three years in business.
Our pick of the top fintech news stories this week includes HSBC, Klarna, Mastercard and more.
A Mastercard spokesperson says the majority of the impacted employees will be notified in Q3 2024.
Techstars CEO David Cohen says the firm “overbuilt and over hired to support our ambition to scale”.
Our pick of the top fintech news stories this week includes NCR Voyix, CIBC, Société Générale and more.
The job cuts are expected to produce around $30 million in annualised cost savings.
Intuit plans to hire 1,800 new workers to support the firm’s aim to capitalise on the “AI revolution”.
The cuts, actioned by president and CEO Wellington Holbrook, have resulted in the loss of almost 200 positions.
The cuts are in response to “slower than expected revenue growth”.
Paxos currently claims a balance sheet of $500 million.
Our pick of the top fintech news stories this week includes Starling Bank, Mastercard, Bink and more.
Our pick of the top fintech news stories this week includes Visa, Monzo, JP Morgan Payments, Funding Circle and more.
Oliver White, Funding Circle’s CFO, has also announced his intention to step down from his role.
Synapse previously filed for Chapter 11 voluntary bankruptcy and laid off over 50% of its workforce last year.
Due to impact 12% of its total workforce, the proposed job cuts will take effect from 7 May.
Cover story: CREATIVE THINKING – How a borefest could lead to the best ideas.
The pivot comes a year after the firm completed a $40 million Series C fundraising round.
Our pick of the top fintech news stories this week includes Capital One, Toast, Xalts and more.
The fintech says the restructuring plan is intended to “promote overall operating expense efficiency”.
Our pick of the top fintech news stories this week includes Worldline, Deutsche Bank, Barclays and more.
The cuts are expected to result in the termination of around 1,400 positions.
The French banking group says it will action the cuts “without forced departures”.
The German investment bank says the cuts will mainly apply to “non-client-facing areas”.