Mode Eleven taps Finzly for cloud-based payments platform
Mode Eleven will now be able to facilitate high-value payments on the ACH and Fedwire networks.
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US banking giants JP Morgan Chase and First Citizens cut 500 jobs each
Both banks laid off around 500 employees last week, according to media reports.
Akuvo inks partnerships with seven credit unions in the US
Together, these credit unions serve 747,388 members and represent $20 billion in assets.
LatAm paytech Bamboo names Francisco León as its first CEO
Bamboo believes it is in “a unique position” to capitalise on the growth in the digital payments space in the region.
B2B fintech Plastiq files for bankruptcy, enters deal with Priority
The agreement is subject to approval from the Bankruptcy Court, and any better offers Plastiq may receive.
FinTech Futures: Top five stories of the week – 26 May 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: Ballerine, Trébol & more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
US banking tech provider Nymbus bags $70m Series D funding
With the funding, Nymbus plans to expand and advance its core banking system, and diversify its product portfolio.
LatAm fintech start-up Kiwi secures $80m in funding
With the funding, Kiwi plans to introduce new products and reach more customers across US and Latin America.
New CEO of Pipe builds “fintech dream team”
Pipe makes new hires across technology, innovation, product, risk, and operations.
Embedded payments platform Rize Money acquired by Fifth Third
Fifth Third says embedded payments are “a core component” of its treasury management business.
US fintech Episode Six secures $48m in Series C funding
The round was led by Avenir, with participation from existing investor Anthos Capital.
OpenFin lands $35m in Series D funding
The funding will be used to accelerate the adoption of OpenFin’s software across the financial services industry.
US LGBTQ+ neobank Daylight to close down
The final day of Daylight’s banking operations will be 30 June.
HSBC unveils AI Markets for institutional investors and corporates
AI Markets “has been built from the ground up with user experience in mind”, HSBC says.
US proptech Setpoint acquires Resolute to “revolutionise fintech lending”
Resolute is a due diligence provider focused on single family rental (SFR) and residential transition loans (RTL).
Restaurant365 lands $135m funding at unicorn valuation
The round takes the Restaurant365 valuation to over $1 billion.
Wise CFO Matt Briers to leave money transfer firm next year
Wise will start the search for its next CFO immediately.
Sonata Bank taps Plinqit to help restaurant workers meet savings goals
Through the partnership, Sonata will provide customers with ways to save and plan for future financial needs.
Airbnb taps Stripe to enable bank payments for US customers
The feature will be available for customers with a US bank account.
Sonata Bank aims to boost quick service restaurant employees’ financial health
The challenger has raised more than $20 million in its initial round of funding.
American Bank & Trust taps Marstone for digital wealth management offering
With the partnership, the bank aims to retain existing client deposits and attract new retail bank customers.
FinTech Futures: Top five stories of the week – 19 May 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
San Francisco fintech Cardless secures $75m credit facility from i80 Group
The debt facility will provide Cardless “flexibility” to meet growing demand for co-branded credit card products.
Meridian Bank taps Corserv to launch business credit card programme
With Corserv, Meridian Bank will be able to offer credit cards with a variety of APRs, rewards and features.
ICYMI fintech funding round-up: Bitpanda, Jenfi and more
This week’s handy funding round-up includes six fintech firms from across the world.
Spain’s CaixaBank partners Google Cloud to drive digitalisation
The partnership will see the bank leverage Google Cloud’s cloud computing, data analytics and AI/ML capabilities.
Low-code AI integration platform AI Squared names Michelle Bonat as new CTO
Bonat will be responsible for software engineering, data science, AI research, IT and product management.
Bank of America launches new accelerator programme for fintech start-ups
The programme aims to help entrepreneurs from underrepresented communities scale-up their businesses.
Financial health app VeraScore names Scott Waldron as new president
In his new role, Waldron will lead VeraScore’s business development and customer acquisition strategies.
Private credit marketplace platform Percent lands $29.7m Series B funding
Percent will use the funding to further develop its platform and propel its next phase of growth.
Credit union North Carolina SECU selects NCR for digital banking upgrade
Using NCR Digital Banking, SECU will be able to upgrade its mobile and online banking capabilities.
Ripple acquires Metaco in $250m deal
Ripple’s CEO says the deal is “monumental for our growing product suite and expanding global footprint”.
Zepz reportedly axing 420 jobs as firm looks to streamline operations
The cuts will fall largely on Zepz’s customer care and engineering teams, CNBC reports.
Binance set to withdraw from Canada citing new guidance
Binance says it is joining other “prominent” crypto businesses in “proactively withdrawing” from Canada.
German challenger N26 to cut 71 jobs, around 4% of total workforce
N26 says the cuts are a result of the firm “sharpening its focus on its strategic priorities”.
Procurement fintech Zip secures $100m Series C funding at $1.5bn valuation
Founded in 2020, Zip helps companies streamline B2B purchasing and manage business spend.
ZestMoney founders step down following failed acquisition by PhonePe
Lizzie Chapman, Ashish Anantharaman, and Priya Sharma are all set to leave the company.
Intapp acquires employee compliance software firm Paragon Data Labs
Intapp says the acquisition will augment its risk management and compliance offering.
Barbados challenger Sagicor Bank launches on Mbanq’s BaaS platform
Through Mbanq, Sagicor Bank aims to offer customers “branchless” digital financial services.
