BBVA makes $13bn hostile takeover bid for Banco Sabadell
Banco Sabadell’s board had previously rejected an offer from BBVA claiming it significantly undervalued the company.
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Corpay to purchase AP automation platform Paymerang from Aldrich Capital for $475m
The transfer of Paymerang from Aldrich Capital to Corpay is expected to close this quarter.
New US paytech Fractal launches with aim to become “SaaS companies’ preferred payment method”
The start-up’s solution seeks to provides SaaS firms with a pre-built embeddable payment service.
ICYMI fintech funding round-up: Fundcraft, Volta, Swypex, SAVR and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
FinTech Futures: Top five news stories of the week – 10 May 2024
Our pick of the top fintech news stories this week includes Monzo, NAB, GoTyme Bank, and more.
Former Bank of America MD Mieko Shibata named new R&T Deposit Solutions CIO
Shibata has previously served as an MD at Morgan Stanley, JP Morgan, and Bank of America.
CFPB fines Chime $3.25m for customer refund delays
Chime is to also pay “at least $1.3 million in redress to harmed consumers”.
WaFd Bank to deploy Fiserv’s CashFlow Central for small business customers
The digital payment and cash flow management solution is the result of Fiserv’s partnership with Melio.
Monzo secures additional $190m funding from new and existing investors
The digital challenger had previously raised $430 million in March.
FinTech Founders Video: ensuring data security in fintech partnerships
This new episode in our FinTech Founders series examines data sharing security in fintech partnerships.
New Peoples Bank taps Jack Henry for core processing
The bank is to adopt Jack Henry’s core processing solution and digital banking platform Banno.
Nepsis brings Amanda Butler in-house as first CTO
Butler has served as an outsourced consultant for Nepsis for over a decade.
CIBC Mellon taps Duco for AI-powered data automation tech
The firm will leverage Duco’s tech to “manage data effectively while reducing operational risk”.
Lloyds Banking Group collaborates with Red Hat to adopt modern open source engineering practices
Lloyds is aiming to boost its “developer experience, software quality, and speed to market”.
Mambu to power Canada’s Brunswick Credit Union amid MV Solar UK launch
The credit union’s implementation of Mambu in Canada arrives in tandem with the UK launch of MV Solar.
FINRA fines SoFi $1.1m after consumer identification flaws led to multi-million dollar heist
SoFi Money – the unit targeted by fraudsters – was ultimately closed by the fintech in June 2022.
Beem Credit Union teams up with VeriPark to elevate digital banking capabilities
Beem Credit Union was launched by Gulf & Fraser and Interior Savings on 1 January.
Digital platform Crowded deploys Visa Direct for international money transfers
The capability enables the platform’s users to transfer funds to any eligible Visa account globally.
Start-up Swaystack launches personalised engagement platform
The platform seeks to enable banks and credit unions to cultivate personalised digital experiences.
JP Morgan Chase to pay additional $100m penalty to US regulator over trade surveillance data gaps
The bank was previously hit with a $348 million fine from the OCC and FRB in March.
Libro Credit Union to transition to nCino’s cloud banking platform
The platform will support Libro with loan origination, customer onboarding and deposit account opening.
ICYMI fintech funding round-up: Backflip, Ansa, Salmon, Firenze and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
FinTech Futures: Top five news stories of the week – 3 May 2024
Our pick of the top fintech news stories this week includes Goldman Sachs, HSBC, Microsoft and more.
FinTech Founders Video: how emerging technologies are facilitating deeper collaborations
This latest FinTech Founders episode delves into the impact of emerging technologies on fintech partnerships.
Securitize secures $47m funding round led by BlackRock
The investment adds to the $48 million raised during Securitize’s Series B funding round in 2021.
Former Thomson Reuters exec David Larson named Feedzai’s new CFO
Larson previously spent over eight years at Canadian multinational information corporation Thomson Reuters.
BNI Madagascar assigns Temenos cloud core implementation to Orion Innovation
The bank says it’s currently engaged in a “digital modernisation journey” for its SME clients and retail customers.
Nayax acquires Brazilian paytech VMtecnologia to propel LatAm expansion
The deal has a total potential consideration of up to $27 million based on certain conditions.
Finastra selects OpenFin to enhance Kondor treasury management solution
OpenFin’s workspace software will “redefine the user experience” of Kondor, Finastra says.
FloQast hires nCino exec Josh Glover as president and CRO
Glover has served as CRO of nCino since 2019, and became its president in 2021.
Franklin Templeton partners Microsoft to build “advanced financial AI platform”
The firm will leverage Microsoft’s Azure AI services, including its AI Search and AI Document Intelligence functions.
Barclays reportedly leading the race to take over GM credit card programme from Goldman Sachs
Barclays was a bidder for the programme back in 2020 before Capital One eventually sold it to Goldman.
UMB Financial Corporation acquires Heartland Financial in $2bn deal
The firms expect the deal to be finalised in the first quarter of 2025.
Iowa’s Affinity Credit Union taps Mahalo Banking to enhance digital banking offerings
The credit union is also converting its core system to Corelation Keystone.
Digital lending platform Blend Labs bags $150m funding from Haveli Investments
Blend will use the cash to repay “all amounts payable” under its existing credit agreement.
Vatic AI hires former Mastercard exec Dilip Krishnan as CEO and president
Krishnan will also serve as a member of Vatic AI’s board of directors and will remain situated in Singapore.
Inclusive instant payment system Higala launches in the Philippines
The new system is powered by the open-source payment platform Mojaloop.
HSBC CEO Noel Quinn to step down after five years in the role
Quinn says he will retire “after an intense five years” leading the global bank.
Renasant Corporation promotes president and COO Kevin Chapman to CEO
Kevin Chapman will succeed Renasant’s incumbent CEO Mitchell Waycaster in May 2025.
UK online SME lender Capify bags £100m credit facility
The new facility from Pollen Street Capital will support the lender’s future growth plans.
