NCR names new chairman and CEO-designates as company separation gathers pace
Joseph Reece joins as chairman of the board with Tim Oliver and David Wilkinson named CEO-designates.
Financial Results
News, intelligence and resources on the global fintech industry including topics such as financial results.
Banking Technology Magazine May 2023 issue out now
Cover story: EVERYTHING, EVERYWHERE… but is all at once the answer?
FinTech Futures: Top five stories of the week – 14 April 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
ClearBank sees income nearly triple to £58m in 2022
UK-based ClearBank is plotting its European expansion and expects to remain profitable through 2023.
Blockchain trade finance firm Marco Polo reportedly enters insolvency
According to The Irish Times, the firm’s liabilities have outstripped its assets by €2.5 million ($2.6m).
US challenger Varo Bank reportedly raising funds at reduced valuation
Fintech Business Weekly reports the firm is raising $50m at a $1.8bn valuation, a 28% decline in value.
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.
BNPL giant Klarna posts £1bn loss for 2022
Despite the loss, the firm says it is edging towards profitability thanks to growth in its gross merchandise volume.
FinTech Futures: Top five stories of the week – 24 February 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Dutch challenger Bunq becomes first EU neobank to report a quarterly profit
Bunq reported a pre-tax profit of €2.3 million over Q4 2022.
Banking Technology Magazine February 2023 issue out now
Cover story: HAPPY DAZE – Banking for cannabis businesses boosted.
Payoneer names former Webster Bank exec Bea Ordonez as next CFO
Ordonez will assume the role of CFO once current CFO Michael Levine steps down in March.
LendingClub to cut 225 jobs as interest rate rises impact loan demand
Company execs say the layoffs are a result of “reduced marketplace revenue” due to interest rate increases.
Goldman Sachs loses $3bn over three years on platform solutions business
Reuters reports the firm outlined a pre-tax loss of $1.2bn for the first nine months of 2022.
Temenos in leadership shake-up as CEO and chairman step down
Under the new leadership, Temenos says it will focus on SaaS opportunities, including in the US.
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”.
Silvergate reveals depleted deposits, significant layoffs, and impairment charges
Silvergate Capital’s share value dropped by over 40% in response to the financial results.
UK’s ClearBank hits profitability as revenues soar
The firm says it has generated £45.4 million in revenue since the beginning of this year.
FinTech Futures: Top five stories of the week – 21 October 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Temenos cuts 2022 guidance, CRO leaves after just seven months
CRO Erich Gerber, who only joined the company in March, has left the business “effective immediately”.
SaaS financial data platform Canalyst secures $70m Series C investment
Canalyst says it wants to be “the new fundamental dataset of record”.
Curve reports widening operating losses despite revenue growth in 2020
The banking platform suffered from the high costs of doing business during the pandemic.
Box: Insurance isn’t just about premium rates, it’s about the entire user experience process
Vaneet Grewal, Box’s financial services managing director, talks to FinTech Futures.
OakNorth Bank lands £77.6m pre-tax profit despite COVID-19 provisions
The fintech lender’s total assets now sit at £3.1 billion.
Why the BNPL sector is growing like crazy
There is plenty of room for experiments in BNPL, and many customer segments are yet to be addressed.
Lloyds spends big on tech projects as profits slump 72%
The bank spent around £1.2bln on tech in 2020, equivalent to the profit it generated for the year.
HSBC explores options for loss-making US arm as profits dip 34%
Asia delivered HSBC a $13 billion adjusted profit before tax in 2020.
UK challenger OakNorth faces £97m in defaults from ten borrowers
All but two are down to property development loans gone bad.
Italian neobank illimity turns €16m loss into €31m profit in a year
The neobank’s best-performing arm, by a long way, was its NPL unit.
Bill.com edges closer to profitability, shares up 30%
Between last October and December, revenue was up 38%, to $54 million.
PayPal posts 22% revenue rise on back of e-commerce growth
2020 set unprecedented records for PayPal, but its 2021 outlook is more conservative.
Santander’s profits down 35%, but Botín bets on vaccine for 2021
“Vaccination is the most important economic policy for 2021,” says Botín.
N26 mulls acquisition despite net losses tripling in 2019
N26’s failed UK expansion cost it a total of €26.9 million.
Tandem quotes same “material uncertainty” as Monzo in 2019 financials
Tandem’s plan is to be profitable by July or September 2021.
Revolut hot on Starling’s heels, breaks even in November
“We’re doing much better compared to pre-Covid times,” says CEO.
Virgin Money profits dive 77% as it braces for bad loans
Before impairment charges, Virgin Money’s underlying profit stood at £625m.
NerdWallet makes second acquisition in 2020 with Fundera
The deal with Fundera sees NerdWallet continue to diversify its business.
HSBC could start charging for “basic banking services”
It reported a 35% fall in pre-tax profit during the third quarter of the year.
German fintech lender Monedo files for bankruptcy
Founded in 2012, Monedo was called Kreditech until earlier this year.
Klarna’s losses widen following first year of negative profit
Profits have been slowly declining for the company.
