Specialist neobank Panacea Financial bags $24.5m Series B funding
Panacea says it will use the capital to expand its financial services suite built for US doctors.
News
Put yourself in the spotlight at this year’s Banking Tech Awards USA
Nominations for the 2024 awards are now open – apply today!
Gigs appoints Adyen alumni Steven van Bommel as head of finance
The telecom-as-a-service platform has previously tapped talent from Nubank, Klarna and Revolut.
Danske Bank adopts Broadridge’s Tbricks for multi-asset trading and market making
Tbricks is the US-headquartered fintech’s principal trading and market making solution.
Save the date: The Banking Tech Awards celebrates its 25th anniversary on 4 December
Nominations for the 25th annual Banking Tech Awards will open this spring.
Global Credit Union to acquire First Financial Northwest Bank for $231m
The transaction is expected to close in Q4 2024, subject to approvals and customary closing conditions.
Citigroup to cut 20,000 jobs over two years after Q4 downturn
The bank is anticipating run rate savings of $2 billion as a result of the cuts.
Subscription billing fintech Recurly names Joe Rohrlich as CEO
Rohrlich previously served as CEO of Top Hat, a US-based higher education engagement platform.
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.
Commerzbank forms joint venture with Global Payments for SME payment solutions
The new joint venture, Commerz Globalpay, is expected to launch in H1 2024 and will be based in Frankfurt.
JP Morgan Chase-owned WePay reportedly offboards a number of business clients
JP Morgan Chase bought WePay back in 2017 in a $400 million deal in a push to compete with Stripe.
US-based Citizens State Bank taps Revio to fuel customer growth
The bank will adopt the Revio platform to tap customer expansion opportunities.
Circle gears up for second attempt at IPO with new SEC filing
The stablecoin company has confidentially submitted a draft registration statement with the US regulator.
FinTech Futures: Top five news stories of the week – 12 January 2024
Our pick of the top fintech news stories this week includes Zilo, Ant Group, FirstOntario and more.
ICYMI fintech funding round-up: KlariVis, Komunal, Maalexi, Cleva & CSI
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Social media platform X aims to deliver P2P payments this year
The social media platform has obtained a money transmitter licence in 14 US states so far.
Cartoon: Pyrrhic victory
A new cartoon illustrating what’s next for Bitcoin following the approval of spot Bitcoin ETFs in the US.
InvestCloud names Motive Partners’ Jeff Yabuki as new CEO and chairman
Yabuki also currently serves as chairman and founding partner of Motive Partners.
Real estate fintech start-up Downpayments launches in Florida with $32.8m in debt and equity funding
The start-up seeks to provide property investors with interest-free down payments on their next home purchase.
Redwood Capital Bank selects Apiture to power online and mobile banking
The bank will deploy Apiture’s digital platform to expand beyond branch and telephone-based banking.
Global fintech investment plummeted 48% in 2023, according to new data by Innovate Finance
The total global investment flowing into fintech reached $51.2 billion in 2023 across 3,973 deals.
2023 Mobile Banking Heists Report
29 malware families targeting 1,800 mobile banking apps – an essential read for those at the forefront of combating threats on the mobile platform.
Zimbabwe’s Success Microfinance Bank taps FinOS for core banking
The bank has partnered with FinOS to access its composable banking capabilities and increase operating ability.
WealthCo Asset Management taps Duco to automate manual data tasks
WealthCo says the Duco platform has helped it build “volume-agnostic” automated processes.
Bill Crager to step down as CEO of Envestnet
Crager is due to transition into the role of senior advisor upon his departure from the company’s leadership.
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.
Specialist neobank Panacea Financial names Ryan Gorney as new CTO
Gorney joins the company from Seacoast Bank, where he served as EVP CTO and chief innovation officer.
US fintech Talus Pay acquires Jobox and Clarus Merchant Services
Financial terms of both the acquisitions were not disclosed.
Security Bank of Kansas City selects NCR Atleos to manage ATMs
The agreement will see the bank adopt its partner’s ATM-as-a-Service and ITM-as-a-Service offerings.
FinTech Futures: Top five news stories of the week – 5 January 2024
Here’s our pick of five of the top news stories from the world of finance and tech this week, featuring HSBC, Monese, Circle and more.
Kinecta Federal Credit Union taps FusionIQ for digital wealth platform
The credit union has adopted the FusionIQ One platform to power its ascent into digital investing services.
Rappi to discontinue RappiCuenta offering in Mexico next month
Users in Mexico have been asked to withdraw all funds before the closing date of 11 February 2024.
Digital ID verification firm Socure bolsters executive team with three new hires
Arun Kumar has joined from Luma Financial Technologies as the company’s new CTO.
Form3 strengthens board with appointment of Anil Arora as non-executive director
Form3 hopes to leverage Arora’s “significant experience” in founding and scaling up fintech companies.
Blue Federal Credit Union partners Cotribute for digital account opening platform
Cotribute says it was able to launch digital account opening for new and existing members “in just 30 days”.
US paytech Kindcard eyes up OpenTransact acquisition
New York-based OpenTransact is a self-serve banking platform built to support high-risk businesses.
Video: Beyond the hype – exploring the real-world use cases for AI in financial services
Industry experts from HSBC, IBM and NatWest assess the impact of AI in the financial services arena.
JP Morgan and Viva Wallet reportedly collide over board appointments
JP Morgan acquired a 48.5% stake in Viva Wallet in December 2022 for $800 million.
Video: Envestnet Yodlee at Money20/20 USA 2023 – Delivering open banking in the US
We chat with Envestnet Yodlee’s Farouk Ferchichi and Lisa Novier about the future of open banking in the US.
Banking veteran Mary Usategui set to launch new venture BankMiami this year
Scheduled to arrive in Q2 2024, it will be the first de novo bank to be established in South Florida in 15 years.
