FinTech Futures: Top five stories of the week – 1 July 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Banking
Yoma Bank taps Compass Plus Technologies for time-to-market upgrade
Myanmar’s Yoma Bank has replaced its in-house processing centre with Compass Plus’ TranzAxis.
Video: SmartStream at Money 20/20 Europe – Levelling the playing field
We chat with SmartStream about how the firm is helping financial institutions keep up with new tech developments.
Aussie challenger Volt to shutter
The firm says it is “closing its deposit-taking business and intends to return its banking licence”.
Flyp taps Galileo to power its mobile banking platform
Galileo’s solution will serve as the backbone for Flyp’s “gamified” BaaS platform.
OBIE report shows open banking and cloud accounting benefit SMEs
Cloud accounting makes small businesses feel more efficient, according to 84% of respondents.
Finding your way
Asking for help is the greatest proof that you will find your way, eventually.
UNO Digital Bank taps Businessnext to boost customer experience
Businessnext’s automated AI solutions will support the bank’s customer-facing managers.
Technisys integrates Cyberbank platform with Microsoft Cloud for Financial Services
The integration will give financial institutions the ability to scale and boost digital transformation efforts.
Sustainable neobank Ashman lands UK banking licence
Birmingham-based firm plans on achieving full regulatory approval before starting operations.
UK neobank Kroo gains full banking licence
Kroo can now offer depositors protection for up to £85,000 through the FSCS.
Taming AI algorithms — finance without prejudice
Algorithmovigilance is growing in importance as human biases all too readily creep into AI tech.
Marygold acquires Tiger Financial & Asset Management for UK expansion
Tiger’s core business is managing clients’ financial wealth across a range of products.
ICICI Bank launches digital platform for the student ecosystem
Campus Power, available to all, aims to offer banking and value-added services within one platform.
Raisin Bank acquires payments division from Bankhaus August Lenz
The acquisiton, for an undisclosed sum, will be headed up by Bankhaus payments veteran Mirko Siepmann.
Citi partners METACO to develop digital asset custody capabilities
Citi will integrate METACO’s bank-grade digital asset custody and orchestration platform, Harmonize.
Women in finance – where are they?
Why is the financial sector still failing to attract talented women in 2022?
Stripe simplifies bank transfers for UK, EU and Mexican businesses
Stripe says that bank transfers, despite their popularity and ease of use, are “filled with friction”.
Fintechs Stanhope and Stenn hire new CPOs as they look to scale
Groombridge will be leading Stanhope’s payments offering, while Bajwa will be developing Stenn’s financing solutions.
Mambu welcomes four new senior leadership hires
Mambu has hired a new CTO, CFO, chief revenue officer, and chief of staff.
What is core banking?
The market for core banking software is not “a winner takes all” opportunity.
Mode Eleven selects Finzly’s payment core for BaaS platform
Finzly says its tech will give Mode Eleven “full control over its payment processes”.
Ghana’s Fido raises $30m Series A to broaden financial inclusion in Africa
Fido has now raised $38m to date and intends to use the fresh capital to launch new financial products in Ghana.
UK challenger bank Recognise appoints Sahil Thapa as CTO
Recognise says Thapa “has the vision and ability to lead the Bank’s technology strategy”.
Arab Tunisian Bank live with Temenos’ core banking tech
ATB has migrated its retail and corporate banking business onto Temenos’ core banking system.
RBC partners Plaid to offer API-led connectivity with fintech services
The data access agreement will remove the need for credential sharing, enhancing security and privacy.
State of play: Money 20/20 Europe
Fintech analyst Philip Benton recaps key themes and trends at Money 20/20 Europe.
Starting small: how Nearside is trying to help create a more inclusive economy
With this rise in new small businesses comes a need for new banking services catered to these new entrepreneurs.
What the FinTech? | S.3 Episode 9 | Smart applications for AI and ML
We are joined by Jethro MacDonald, product manager, artificial intelligence and machine learning at SmartStream.
Intesa Sanpaolo sells Croatian merchant acquiring business to Nexi
The €180m deal forms part of a broader multi-year partnership in the merchant acquiring space.
Santander Mexico CEO Héctor Grisi to lead banking multinational in 2023
He will replace José Antonio Álvarez as group CEO next year, following a transition period.
Canada’s VersaBank acquires a Minnesota-based bank to fuel US growth
Upon closing, the bank will be renamed VersaBank USA National Association.
The Bank of London invests in Belfast and creates over 200 new jobs
The Bank of London says it is making a “multi-million pound” investment in Belfast.
Qatar National Bank launches open banking platform for fintechs
QNB says its open banking APIs could transform the fintech landscape in Qatar.
Santander UK appoints new COO and CTO
Elisabet Pinilla will join as the new CTO, and Stephen White as the new COO.
Paytech PPRO hires Rahul Raswant as new chief financial officer
Raswant has held roles at Standard Chartered Bank and consultancy McKinsey.
US fintech Wahed Invest to receive $50m in Series B funding
The Series B round will support the start-up’s plans to launch an ethical neobank.
Canadian wealthtech Wealthsimple sheds 12.6% of workforce due to market volatility
As well as the layoffs the wealthtech will be “laser-focused” on core businesses investing, banking and crypto.
Coping with the cost of living: how open banking can build financial resilience
We need to see a significant step-change in open banking regulation to cushion the blow of inflation.
FinTech Futures: Top five stories of the week – 17 June 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
