Al Busairi Bank opts for ICS Banks core banking system
The new microfinance bank will implement the ICS Banks Islamic core banking system from ICSFS.
Financial Inclusion
Vietnamese digital bank TNEX seeks new CEO as Bryan Carroll steps down
Carroll says he will instead take up a position on the company’s board.
FinTech Futures: Top five stories of the week – 17 March 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Nigerian fintech FairMoney acquires PayForce for undisclosed sum
FairMoney is looking to expand its offering to include features for merchants as well as retail customers.
Scottish challenger for SMEs Alba lands banking licence
The bank has been granted an Authorised with Restrictions (AwR) licence by the UK’s PRA and FCA.
Tintra to set up banking hub in Rwanda for new emerging markets bank
Tintra is in the process of establishing a subsidiary and applying for a licence with the National Bank of Rwanda.
Tintra taps Temenos to power new bank for emerging markets
Tintra plans to link emerging market clients with global financial opportunities.
US fintech lender Fynn nabs $36m in seed and debt funding
With the new funding, Fynn plans to expand across the US and offer its services to more students.
Payroll and benefits start-up Catch shutting down
Accounts will be closed on 6 April 2023, with customers instructed to withdraw all funds before that deadline.
Nubank appoints former Meta crypto head David Marcus to board
Marcus previously spent seven years at Meta and co-created the firm’s cryptocurrency Diem (formerly Libra).
UK lender Abound secures £500m in equity and debt financing
The company plans to grow its loan book and boost its staff headcount.
Africa’s Ecobank Group names Jeremy Awori as CEO
Awori brings more than 25 years of banking industry experience to the leadership role, Ecobank says.
FinTech Futures: Top five stories of the week – 3 March 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
MFS Africa partners Western Union to broaden financial inclusion
The service will see funds from across the globe move through payment rails operated by MFS Africa.
Tudi taps ThetaRay for transaction monitoring solution
Through the partnership, ThetaRay will provide Tudi its Sonar transaction monitoring solution.
Copal launches Egypt’s first family payments app with Mastercard
Copal aims to provide a “seamless and innovative” cashless payments experience for all family members.
US president Joe Biden nominates former Mastercard CEO to lead World Bank
Ajay Banga has been nominated to lead the World Bank following the resignation of David Malpass.
American Fintech Council appoints Phil Goldfeder as CEO
Goldfeder brings more than two decades of experience working in the private and public sectors.
Buy now, worry about it later: the future of BNPL
Buy now, pay later – is there a more apt fintech application for our times than BNPL?
North America fintech funding round-up: Vexi, Comun, ModernFi & more
A round-up of the latest funding endeavours of fintech start-ups from across North America.
ICYMI fintech funding round-up: Ledge, AdalFi and Power
Our weekly fintech round-up for you to get the latest funding news from around the world.
What the FinTech? | S.4 Episode 2 | Space Bank and financial inclusion
In this episode, we’re joined by Nika Kurdiani, deputy CEO at TBC Bank and CEO of Space International.
Ghana’s Fortek partners Codebase for Digibanc platform
It is hoped the partnership will “accelerate digitisation” and boost entrepreneurship in Africa.
Global Technology Partners names Olaseni Alabede as new CTO
Alabede was previously vice president of product development in Mastercard’s installments business.
UK’s FCA names first members of its new innovation advisory group
The Innovation Advisory Group (IAG) will meet for the first time in February, the FCA says.
Non-profit Commonwealth begins second phase of partnership with JP Morgan Chase
Commonwealth and JP Morgan Chase are examining how new tech can reduce wealth inequality in the US.
South Africa to pilot national rapid payments programme this year
The national payment system forms part of South Africa’s Vision 2025 programme.
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.
GXS Bank names Muthukrishnan Ramaswami as group CEO
Ramaswami most recently spent 12 years as president of the Singapore Exchange (SGX).
Paytech Highline names Rebecca Mowat director of partnerships
Mowat brings over 20 years’ worth of experience in international trade and business to Highline, the firm says.
South African digital lender Lulalend bags $35m Series B
Lulalend will look to increase its loan book size and develop new products.
Liberis lands €30m in debt financing from Silicon Valley Bank UK
The funding will support Liberis’ targeted expansion across the Nordics and Europe.
UK mortgage lender LiveMore bags £250m credit facility from Citi
The new funding facility will enable LiveMore to increase loan originations and grow its portfolio.
Malaysian fintech HelloGold winds down core business
CEO and co-founder Robin Lee tells Fintech News Malaysia the firm is “pivoting to a B2B model”.
Open letter calls on UK government to boost SME credit access
The letter has been co-signed by Codat, Atom Bank, Funding Circle, Iwoca, Allica Bank, SPRK Capital and others.
FCA greenlights Nova Credit to provide credit references for new arrivals
Nova Passport collates cross-border credit bureau data to help businesses underwrite new-to-country individuals.
ICYMI fintech funding round-up: Ascendant, Evergreen, Kwara, Pilon & more
Featuring Ascendant, Evergreen, Komunal, Kwara, Pilon, and Sprinque.
Indian government set to spend $320m to boost adoption of digital payments
The government hopes its plan will facilitate the development of “a robust digital payment ecosystem”.
State Bank of Pakistan names five successful digital bank applicants
The country’s central bank and regulator expects these new digital banks to promote financial inclusion.
Tyme Group opts for Mambu’s core banking tech for Philippines’ GoTyme Bank and future banks across Asia
Mambu’s platform enabled a “lift and shift” of Tyme Group’s digital bank concept from South Africa to the Philippines.
