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.
Canada
Nuvei evaluating bids for potential buyout with Advent reportedly leading the race
The Canadian paytech says “no decision has been made at this time” regarding a potential deal.
Indian fintech Perfios lands $80m investment from TVG
The investment builds on Perfios’ $229 million Series D and reportedly now values the firm at over $1 billion.
PayPal extends payment options for online SMEs with new solution
PayPal Complete Payments launches this week to online sellers in 22 markets worldwide.
Canadian paytech Helcim completes $20m Series B funding round
The recent round adds to the company’s $12.7 million Series A funding raised in 2022.
Vencora acquires Crealogix to bolster banking tech portfolio
Vencora now owns 99.07% of Crealogix’s issued share capital and voting rights.
UAE start-up Dunes Financial acquires Be Mobile Africa’s tech assets
Be Mobile Africa’s CEO says the “sale of non-financial assets injects vital financial resources” into the firm.
ICYMI fintech funding round-up: Zūm Rails, Pulsate, Monite, Spektr and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Dayforce selects Green Dot as BaaS partner for on-demand pay solution
Green Dot will facilitate all banking services for Dayforce Wallet customers in the US.
Canada’s EQ Bank taps Trulioo for ID verification solution
EQ Bank to leverage Trulioo’s “customised onboarding experiences” to stay ahead of industry practices.
Canada’s Float bags $37m credit facility from Silicon Valley Bank
The Toronto-based fintech says the new facility will be used to expand its Charge Card programme.
Payments Canada in search of new CEO after Tracey Black announces departure
Payments Canada’s board has now initiated a “comprehensive search” for Black’s successor.
Nordic Capital snaps up Canadian SaaS fintech Zafin
Zafin has partnerships with a number of global banks including Wells Fargo, HSBC, PNZ and ING.
Desjardins to reduce total number of ATMs and service centres by 30% by 2026
The group’s ATMs and service centres accounted for 3% and 1% of its total transaction volume last year, respectively.
Germany’s Commerzbank taps Surecomp to revamp trade finance back office
The Frankfurt-based commercial bank has adopted the vendor’s DOKA-NG solution.
Atlantic Money lands regulatory approval to expand money transfer services to North America and Australia
The fintech has been licenced to operate in Europe since 2022.
RBC’s US subsidiary City National Bank hit with $65m fine from OCC
The OCC says the fine relates to “systemic deficiencies” in the bank’s risk management and internal controls.
Italy’s Objectway doubles down on North American wealth market with acquisition of Nest Wealth
The deal will see the fintech take ownership of Nest Wealth’s digital wealth solutions and client portfolio.
Canada’s Vancity names Wellington Holbrook as president and CEO
Holbrook takes over from Nez Aquino, who has served as interim CEO since July 2023.
WealthCo Asset Management taps Duco to automate manual data tasks
WealthCo says the Duco platform has helped it build “volume-agnostic” automated processes.
Credit union FirstOntario readies for Canada’s open banking push with Flinks and Everlink
The partnership is in anticipation of Canada’s 2025 rollout of open banking.
Beem Credit Union appoints Sue Britton as chief innovation officer
Beem Credit Union will launch on 1 January in Canada with the merger of Gulf & Fraser and Interior Savings.
TSX operator TMX Group snaps up remaining 78% stake in VettaFi for $848m
The group initially paid $175 million for approximately 22% of VettaFi back in January.
Former TD Bank exec Michael Rhodes appointed as new CEO and president of Discover Financial Services
Rhodes succeeds former CEO and president Roger Hochschild, who stepped down with immediate effect in August.
Canadian fintech Koho bags $63m funding at unchanged valuation
Founded in 2014, the Toronto-based fintech offers a full-service spending and savings account.
Liberis bags $112m in debt financing to fuel expansion in North America and Europe
Liberis plans to go live in Canada, Germany and Poland in 2024.
Canadian regulator fines RBC $5.5m for “administrative violations” of its AML rules
FINTRAC says it uncovered three administrative violations by RBC during an examination last year.
Codebase launches BaaS solution in Egypt with Visa and eFinance
The BaaS model will enable Egypt’s non-bank firms to integrate banking services into their product lines.
Nuvei reportedly snaps up Aussie paytech Till Payments for $30.5m
The paytech was valued at $350 million only seven months ago.
Canadian Tire reacquires Scotiabank’s 20% stake in its financial services arm in $650m deal
Scotiabank first bought its 20% stake in May 2014 for around $460 million.
MPOWER Financing boosts lending capacity to over $300m with fresh debt funding
The financing will enable MPOWER to issue more loans to international students studying in the US and Canada.
Arteria AI bags $30m to help financial institutions extract data from documentation
The Series B round was led by GGV Capital and takes the start-up’s total funding to date to $50 million.
Canada’s Procurify lands $50m in Series C funding round
The round was led by Ten Coves Capital and brings Procurify’s total equity funding to more than $70m to date.
Clearco completes recapitalisation, secures $60m Series D funding and $100m financing facility
The recapitalisation comes after the Canadian growth capital firm carried out significant job cuts over the last year.
Visa taps US security operations provider Expel for MDR capabilities
Expel’s managed detection and response (MDR) solution claims to reduce alert-to-response times “to minutes”.
Codebase partners Network International to launch BaaS solution in the Levant
The partnership intends to accelerate the pace of digital banking transformation throughout the Levant region.
EWA start-up ZayZoon secures $34.5m in Series B funding round
The round was led by Framework Venture Partners, with participation from additional investors.
Sibos 2023: BMO taps DailyPay to offer earned wage access to commercial clients
The news was announced at the Sibos conference, which is being held in Toronto, Canada, this year.
Sibos readies the industry to unlock the full force of AI
A variety of compelling panels led the event’s narrative on one of this year’s most trending topics.
Sibos dreams of a T+1 settlement utopia on eventful day three
Panels at this year’s Sibos have discussed the benefits of T+1 settlements across all global capital markets.
