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Canada
Canadian fintech start-up Hardbacon closes down
Co-founder and CEO Julien Brault writes that the fintech’s operations are now suspended.
Shift4 acquires Canadian fintech Givex
The acquisition is anticipated to close in Q4 2024.
Scotiabank buys 14.9% stake in KeyCorp for $2.8bn
The Canadian bank’s CEO says the deal “creates future optionality for Scotiabank in the North American corridor”.
ICYMI fintech funding round-up: Layer2, Qardy, United Fintech, Minos, and more
Our weekly fintech round-up for you to get the latest funding news from around the world.
CIBC plans to hire for 200 new data and AI roles over the next 12 months
The new hires will be tasked with advancing “resilient and trustworthy AI solutions” across the bank.
Nuvei set to obtain licence in Brazil with proposed acquisition of Pay2All
The proposed acquisition will enable Nuvei to operate in Brazil as an electronic currency issuer.
BCI sells majority stake in Hayfin to Arctos Partners
Hayfin entered into an agreement with Arctos Partners “to support a management buyout of the business”.
Rabobank taps Zafin to upgrade pricing, billing and invoicing capabilities
Zafin’s tech will provide a “consistent view of product, billing and invoicing information across all channels”.
Merrco Payments rebrands to KORT Payments with new managing team led by Paysafe founders
The rebranding comes after Merrco’s successful capital raise in June.
Innovation Federal Credit Union names Jason Cinq-Mars as new CIO
Cinq-Mars will oversee the credit union’s information, technology and security functions.
Payments Canada concludes search for new CEO with Susan Hawkins appointment
Hawkins has served as a member of Payments Canada’s board since 2020.
Canadian credit union Vancity lays off 7% of workforce
The cuts, actioned by president and CEO Wellington Holbrook, have resulted in the loss of almost 200 positions.
Canada’s Haventree Bank partners Temenos for new core banking platform
Haventree serves the Canadian alternative mortgage sector through the broker network.
Raiffeisen Bank International opts for Surecomp’s collaborative trade finance platform
The Austrian bank will utilise RIVO to digitise its processes for guarantees and letters of credit.
Canada’s Vancity taps Intellect Design Arena for digital engagement upgrade
Vancity has selected the vendor’s DEP and CBX solutions to digitise member engagement.
DZ Bank partners Surecomp for collaborative trade finance platform
DZ Bank acts as a central bank to more than 700 cooperative banks in Germany.
Koilink Technologies to launch equities trading app in Q4
The start-up has also confirmed its intended stock market debut on the Chicago Board Options Exchange.
Moldindconbank taps Salt Edge for PSD2 compliance in Moldova
Moldindconbank is to leverage the vendor’s open banking compliance solution.
Former Temenos execs found GenAI banking tech start-up, yPilot
Based in Vancouver, Canada, yPilot says it “leads the way in AI innovation for banks and credit unions”.
Canadian fintech Zafin appoints Michael Nitsopoulos as new CPO
Nitsopoulos brings over 23 years of experience to the role and joins from US financial services giant PNC.
Business banking start-up Relay raises $32.2m in Bain Capital Ventures-led Series B
The Relay platform is designed to “help small businesses take control of their cash flow”.
Former Stripe exec Gang Wang joins Nuvei as CTO
Wang succeeds Max Attias, who is transitioning to the role of CIO.
AI-powered regtech Cube acquires global regulatory intelligence enterprises from Thomson Reuters
Through this acquisition, Cube aims to “set a new bar for the industry in regulatory automation”.
Broadridge acquires Securities Industry Services business from Kyndryl
Kyndryl will provide the SIS business operated under Broadridge Canada with managed services.
President’s Choice Financial taps Temenos for retail core banking solution
PC Financial will adopt Temenos’ retail core banking solution as SaaS on Microsoft Azure.
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”.
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.
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.
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.
Canadian SaaS fintech Zafin announces strategic leadership transition
Zafin CEO Al Karim Somji will hand the reins over to former IBM Canada exec Charbel Safadi.
Kinsted Wealth deploys Objectway for discretionary portfolio management
President and CCO Adam Payne says the deal comes amid a need to “focus on our core business”.
Navy Federal Credit Union partners Zafin for product and pricing capabilities
The credit union says it’s in the process of pivoting its legacy core to a “cloud native, real-time banking core”.
Google Cloud to develop quantitative research and genAI capabilities for three new industry takers
The deals were revealed during the Google Cloud Next event in Las Vegas this week.
Nuvei lands Singapore MPI licence for APAC expansion
The licencing follows the paytech’s $6.3 billion acquisition by Advent International.
Canada’s Brim Financial lands $85m in Series C funding round
The company plans to use the new cash injection to fuel its US expansion plans.
TD Bank inks multi-year strategic partnership with Google Cloud
TD hopes the partnership will help streamline the development and deployment of new products and services.
Nuvei snapped up by Advent International in $6.3bn deal
The Canadian paytech expects the acquisition to close by “late 2024 or the first quarter of 2025”.
ICYMI fintech funding round-up: ZayZoon, Koin, FacePhi, Belong and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
IndusInd Bank partners Tappy Technologies and Thales to launch tokenisation solution for wearable payments
The Indus PayWear app will enable the bank’s customers to tokenise their cards for use with wearables.
