JP Morgan sues Frank founder for allegedly inflating user figures
JP Morgan acquired the student loan application fintech for $175 million in 2021.
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Wall Street heavyweights BlackRock and Goldman Sachs cut jobs
The cuts amount to around 6.5% of the total staff headcount at Goldman and less than 3% at BlackRock.
PayQuicker appoints Nazuk Jain to lead product development
Jain will build out the firm’s product team and manage its expanding product roadmap.
Healthcare paytech Paytient lands $40.5m Series B
The round consists of $33m in equity and $7.5m in debt from Silicon Valley Bank.
Allied Payment Network appoints Kathi Klawitter as COO
Kathi Klawitter joins Allied Payment Network from banking and payments tech heavyweight Fiserv.
Coinbase to cut 950 jobs and shut down several projects
Coinbase CEO and co-founder Brian Armstrong says he is “still optimistic about our future and the future of crypto”.
Nuvei to acquire Paya for $1.3bn
With Paya’s acquisition, Nuvei expects to capitalise on domestic and global payments opportunities.
L&N Federal Credit Union taps Jack Henry for tech upgrade
With Jack Henry’s tech, L&N FCU plans to continue expanding its services while maintaining its “hyper-local approach”.
Allianz, Santander CIB and Two partner for corporate BNPL solution
The solution means corporates can now offer business buyers deferred payments at checkout through a single API.
Global fintech funding saw dip in 2022, says Innovate Finance report
The US saw the highest number of fintech funding in 2022 at $39 billion, followed by UK and India.
Funding Circle appoints Steve Allocca as US managing director
Prior to Funding Circle, Allocca was chief operating officer (COO) at small business banking provider BlueVine.
ACI Worldwide mulls potential sale
The payments software firm is working with financial advisors as it gauges interest levels, sources tell Bloomberg.
Crypto API provider Wyre reportedly shuttering
The news comes after Wyre was set to be acquired by e-commerce checkout fintech Bolt in April last year for $1.5bn.
Silvergate reveals depleted deposits, significant layoffs, and impairment charges
Silvergate Capital’s share value dropped by over 40% in response to the financial results.
FinTech Futures: Top five stories of the week – 6 January 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Coinbase hit with $50m fine for “significant” compliance failures
Coinbase has also been ordered to invest an additional $50m into its compliance programme over the next two years.
Blockchain compliance firm Securrency appoints Nadine Chakar CEO
Nadine Chakar replaces Sucurrency founder and CEO Dan Doney, who moves to the CTO role.
eBook: SME lending – the road to real-time approvals
Accelerate your SME lending with quick credit approvals.
US agencies outline risks of crypto to banking system
In a year marked by “significant volatility”, the agencies highlight a number of risks banks should consider.
GoLogiq and GammaRey merge to focus on millennial wealth management
The combined firm has plans to focus on the burgeoning market of wealth management aimed at Gen Z and millennials.
The Clearing House appoints David Watson as CEO
Watson joins The Clearing House from Swift, and will take up the new role from 1 February 2023.
Swift names Stephen Grainger as chief executive for Americas and UK
Grainger brings 20 years of banking and payments experience to his new role.
CFPB orders Servicio UniTeller to refund fees and pay penalty
The CFPB says between 2013 and 2021, the firm “failed to comply” with many electronic money transfer requirements.
2022: Top five payments stories
FinTech Futures takes a look back at some of the year’s top developments and stories in payments.
2022: Top five mergers and acquisitions
FinTech Futures takes a look back at some significant mergers and acquisitions of 2022.
2022: Top five movers and shakers
FinTech Futures recaps the year’s top movers and shakers.
2022: Top five crypto developments
FinTech Futures takes a look back at some of the year’s top crypto developments and stories.
2022: Top five partnerships
FinTech Futures takes a look back at some of the year’s top new fintech partnerships.
2022: Top five core banking deals
FinTech Futures recaps five of the top core banking deals of 2022.
2022: Top five fundraising rounds of the year
FinTech Futures recaps the top five fundraising rounds this year.
Top five fintechs and neobanks of 2022
FinTech Futures takes a look back at some of the year’s top new fintechs and neobanks.
2022: Top five regulations and fines
FinTech Futures takes a look back at some of the year’s top regulatory stories of 2022.
2022: The year of fintech job cuts
FinTech Futures takes a look back at a bruising year of job cuts in fintech.
ICYMI fintech funding round-up: Moneyhub, Kredito, OneBanx and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
FinWise Bank taps Finastra for core banking solution
FinWise says it selected Finastra to propel its banking business and build on its fintech partnership lending programme.
Coastal Community Bank hires Barb MacLean as head of tech
MacLean brings to the role more than two decades of experience, having spent over 21 years at Celero Solutions.
Splitit and Worldline ink North American BNPL deal
Initially, Worldline plans on integrating Splitit into its North American processing platform before expanding into other geographies.
Ethereum-focused Aztec Network lands $100m Series B
The Series B was led by a16z crypto and saw participation from A Capital, King River, Variant, and others.
Wells Fargo fined $3.7bn for loan, mortgage and deposit mismanagement
Wells Fargo must pay more than $2bn in redress to 16 million affected consumers and a $1.7bn civil penalty.
Mechanics Cooperative Bank selects Finastra’s Payments To Go solution
The bank is expanding its partnership with Finastra to introduce new business payments services.
