Cartoon: Spring fever
The market appears to be investing in anything that moves with the letters “AI” in it.
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ICYMI fintech funding round-up: Toku, Tabs, Kamina, Lemon and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Fund administrator Alter Domus taps Temenos for Multifonds platform
Temenos says its tech will enable the firm to manage “a significant increase in transaction volumes”.
Coventry Building Society and Co-op Bank agree terms over potential £780m acquisition deal
The proposed merger will create a combined group boasting a balance sheet of around £89 billion.
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.
EverBank strikes two new deals to digitise commercial banking and payment processing systems
The US-based bank has partnered with Backbase and banking and payments fintech Finzly.
Credit card fintech Pliant lands €18m Series A extension led by PayPal Ventures
The Berlin-based fintech now seeks to expand its cards-as-a-service product to markets beyond the EU.
Wells Fargo to integrate AI into trade finance operations with TradeSun
The San Francisco-based bank will utilise the fintech’s TradeSun Intelligence V4 solution.
UK fintech Wagestream bags £17.5m funding to expand its financial benefits offering
The fintech plans to launch a credit-builder card, loans and an AI-powered financial advice coach this year.
US neobank Mercury enters consumer banking market with Mercury Personal
Customers of Mercury’s latest offering will need to commit to a $240 annual subscription fee.
Klarna to launch credit card offering in the US “over the next few months”
The US is set to be Klarna Card’s fourth market of entry, following earlier launches in Sweden, Germany and the UK.
Ramp secures $150m in Series D-2 funding round at $7.65bn valuation
The round adds to the $300m Ramp raised in its Series D round in August 2023 at a valuation of $5.8bn.
Digital asset neobank Keytom launches in the UAE
Keytom says it aims to help customers better manage their digital assets “in one convenient location”.
Leeds Building Society opts for Mambu core banking system in tech overhaul
The building society is to leverage its Mambu core to build new mortgage and savings products.
Gigs appoints former Stripe exec Rishi Sachdeva as new head of fintech
Sachdeva succeeds Rafael Plantier, who has been promoted to head of go-to-market.
Navy Federal Credit Union to shift legacy mainframes to Zafin cloud core
The $171 billion-asset credit union is also to make use of the vendor’s product and pricing platform.
BNPL firm Laybuy reportedly on the lookout for new buyer to potentially go private
The New Zealand-based firm is currently listed on the Catalist stock exchange with a value of around $5.4 million.
Danish paytech Flatpay bags €45m in Series B funding
Following the recent fundraise, Flatpay’s valuation has now surpassed €100 million.
Wintrust Financial Corporation acquires Macatawa Bank for $510m
Founded in 1997, Macatawa Bank manages a network of 26 full-service branches across Michigan, USA.
UK Finance engages Quant and R3 to support Regulated Liability Network experimentation phase
UK Finance says the experimentation phase of its Regulated Liability Network will run until summer 2024.
Project Nemo launches in the UK to boost disability inclusion in fintech
The initiative aims to arm the fintech sector with the resources and expertise to help build a more inclusive industry.
BlackRock and Jio Financial Services to launch wealth management and brokerage services in India
The agreement was filed with the National Stock Exchange of India this week.
BharatPe names Nalin Negi as permanent CEO
Negi has acted as BharatPe’s interim CEO since Suhail Sameer’s departure last year.
UK challenger Zopa scores £15.8m pre-tax profit for 2023 as IPO nears
Zopa says revenues climbed 29.7% “despite the challenging macroeconomic environment”.
German fintech start-up Finmid emerges from stealth with €35m in funding
The fintech claims it provides “a much-needed alternative to banks for European SMBs looking for financing support”.
Temenos review brands Hindenburg Research allegations “inaccurate and misleading”
Temenos’ board chair says the review “reinforces the board’s view that Temenos is running a sound business”.
Myanmar’s KBZ Bank taps FinbotsAI for credit risk management solution
KBZ Bank is to deploy FinbotsAI’s credit modelling solution, CreditX.
UK government launches open finance taskforce chaired by CFIT
The industry-led taskforce will aim to “unlock the full potential of open finance”.
Avaloq co-CEO Thomas Beck to retire, Martin Greweldinger to become sole CEO
Beck will provide support to Greweldinger in a senior advisory capacity during the transition.
Germany’s Landesbank Baden-Württemberg taps Bitpanda to offer crypto custody services
LBBW will launch a pilot for its crypto custody services in the second half of 2024.
SC Ventures invests in UK ethical challenger Algbra
As part of the deal, Algbra has also partnered with SC Venture’s climate-focused savings platform, Shoal.
Stripe raises $694m through share sale to provide employee liquidity
The company had previously announced the tender offer to provide employee liquidity in February.
Money20/20 Asia unveils powerhouse line-up of Asia regulators
Money20/20 Asia takes place between 23-25 April at QSNCC in Bangkok, Thailand.
Navy Federal Credit Union agrees new seven-year partnership with Backbase
NFCU is “continuing to standardise” with the fintech’s engagement banking platform.
Newcastle Building Society partners Zest for employee benefits tech
The platform is set to strengthen the building society’s talent acquisition efforts.
United Bank in Alabama taps Jack Henry for digital upgrade
The bank is to adopt the vendor’s LoanVantage solution and Banno Digital Platform.
Former PayPal chief Dan Schulman joins Valor Capital as managing partner
Schulman departed his role as president and CEO of PayPal at the end of last year.
FinTech Founders Video: embracing diversity, equity and inclusion
Three fintech founders discuss the importance of embracing diversity, equity and inclusion in business.
Pomelo Group names Steve Vickers as new CEO
Vickers succeeds the firm’s co-founder Vincent Choi, who will join Pomelo’s strategic advisory board.
ICYMI fintech funding round-up: Mimo, TransferGo, Smartpay, Adro and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
