How digital payments are changing the world
In both sociological and economic terms, the rapid switch to digital payments is fascinating.
Cash
News, intelligence and resources on the global fintech industry including topics such as cash.
FCA continues clampdown on unregistered crypto ATMs in Exeter, Nottingham and Sheffield
The regulator says it will review the evidence gathered and consider taking further action where necessary.
TD Bank nixes First Horizon merger citing regulatory approval delays
The merger has been mutually terminated and TD Bank has agreed to fork out $200m in cash to First Horizon.
FinTech Futures: Top five stories of the week – 5 May 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
HPS CEO Abdeslam Alaoui Smaili on innovation in the payments industry
FinTech Futures chats with HPS CEO Abdeslam Alaoui Smaili at WeMeeting 2023 in Marrakesh, Morocco.
Deutsche Börse to acquire Denmark’s SimCorp in €3.9bn deal
SimCorp will sit within a newly created investment management solutions segment, Deutsche Börse says.
NZ wealth manager JBWere taps Duco for cash and asset reconciliations
JBWere NZ will use Duco to reconcile cash and securities held with sub-custodians, share registries and banks.
FCA outlines new measures for banks to tackle money laundering via the Post Office
The NECC estimates “hundreds of millions” of pounds are laundered annually using cash deposits at the Post Office.
Demystify Podcast: Demystifying China, CDBCs and cashless with Richard Turrin
Based out of China, Richard Turrin has a ringside seat on how China is transforming into a cashless society.
UK government delays plan to sell NatWest shares by two years
Rather than offload a 15% stake in the group this year, HM Treasury has pushed the date back to August 2025.
SoFi acquires Wyndham Capital Mortgage in all-cash deal
The acquisition includes both “talent and technology” and is designed to help SoFi scale.
CBDCs – miracle money or new world order?
CBDCs promise much, but their cost when it comes to privacy could be dear.
Employee financial wellness start-up Rain lands $116m in equity and debt
The total funding is made up of a $66 million Series A equity round and a $50 million debt facility.
South Africa rolls out PayShap, a new real-time digital payments service
With PayShap, consumers will have access to instant, real-time payments across participating banks.
US, European agencies seize €44m worth of BTC in crypto mixer raid
The law enforcement agencies seized seven terabytes worth of data, consisting of 1909.4 BTC.
Stripe raises $6.5bn in funding at reduced valuation of $50bn
In March 2021, the fintech landed $600 million in funding, confirming a valuation of $95 billion.
US regulators shutter New York’s Signature Bank following SVB collapse
Signature Bank is a large lender in the cryptosphere.
Canada’s Versapay names Carey O’Connor Kolaja as new CEO
O’Connor Kolaja replaces former CEO Craig O’Neill, who is set to move to an advisory role within the firm.
Bank of Japan to launch CBDC pilot programme in April
The pilot will test the technical feasibility of a CBDC and leverage the “skills and insights” of private industry.
Solving the cybersecurity puzzle
FinTech Futures speaks to City University of London’s Raj Muttukrishnan and Crossword’s Stuart Jubb.
FCA clamps down on unregistered crypto ATM operators in Leeds
The FCA will review evidence gathered during the visits and consider further potential enforcement action.
Paysafecard CEO Udo Mueller departs firm
Mueller will focus on “helping other companies and entrepreneurial fintech enthusiasts in their growth ambitions”.
FinTech Futures: Top five stories of the week – 3 February 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
More banking hubs and pods earmarked for UK as branch closures continue
A further nine banking hubs and six deposit services have been recommended by Link.
US lender Upstart to cut 20% of jobs in bid to return to profitability
Upstart is also suspending development of its small business loan product.
UK-based digital asset wallet Mode to shut down
Mode says it is winding down its services “due to unsuccessful funding and difficult market conditions”.
B2B BNPL platform Tranch raises $100m in debt and equity
$5 million have been raised in equity while the rest – $95 million – have been taken on as debt.
PayQuicker appoints Nazuk Jain to lead product development
Jain will build out the firm’s product team and manage its expanding product roadmap.
2022: Top five crypto developments
FinTech Futures takes a look back at some of the year’s top crypto developments and stories.
Nine UK banks link up to form company protecting access to cash
The company’s aim is to provide cash access, deposit and basic banking services where they are needed, across the UK.
Getting banked: financial services and the US cannabis industry
We chat with Michael Beird of Infused Banking about how banking is changing for US cannabis businesses.
Dubai-based fintech Leap aims to improve youth financial literacy
The Dubai-based start-up wants to improve youth financial literacy, targeting the under-18s.
Fintech mortgage lender Gen H secures £600m partnership with The Nottingham
The funding will enable Gen H to speed up the rollout of its mortgage products.
Binance signals intent to acquire rival crypto exchange FTX
FTX’s CEO wrote on Twitter that a “strategic transaction” has been hashed out with Binance, pending due diligence.
Brazil’s Agrolend lands $27m Series B funding
The start-up provides Brazilian farmers access to credit through a mobile-first platform.
Ampla Technologies acquires B2B BNPL firm Upside Financing
Ampla says the acquisition will open up a B2B BNPL market that is worth an estimated $1 trillion.
DBS and digitalisation: what the West can learn from the East
“Meaningful innovation is the true litmus test,” says DBS’ Shee Tse Koon.
Video: Brim Financial at Sibos 2022 – Card and payments innovation
At Sibos 2022, Brim Financial’s Meenaz Sunderji discusses the evolving retail and corporate card landscape.
Jiko lands $40m Series B, launches T-bill corporate money storage solution
Jiko’s solution provides firms access to spendable T-bills.
Billtrust snapped up by EQT Private Equity in $1.7bn deal
The deal, set to close in Q1 2023, will see Billtrust become a private company.
