Arvest Bank picks Thought Machine’s Vault as new core banking system
Arkansas-based bank selects Vault to revamp digital banking offerings.
Financial Services/Finserv
Payroll platform Papaya Global hits $3.7bn valuation with $250m Series D round
Papaya has now raised $440 million in total capital since its seed round in 2016.
JP Morgan to acquire majority stake in Volkswagen’s payments business
US banking giant says the deal will expand its digital payment capabilities.
Guide: The X factor – why KYC isn’t enough
Fighting fraud and financial crime doesn’t end at onboarding.
Scalapay raises $155m in Series A round to fund BNPL expansion
European payments firm seeks greater foothold in core markets.
Canadian fintech start-up Nuula secures $120m funding
The firm launched its mobile app in June this year with the aim of helping SMEs to grow.
i-movo teams up with ClearBank and DWP to digitise UK’s benefits payments system
Claimants can now receive their payments in a number of different ways.
Curve CTO to leave the fintech after four years
Matt Collinge is headed to unknown pastures new.
How cryptocurrencies have fuelled the ransomware business
The head-in-the-sand approach of many organisations has created a fertile environment.
Video: fintech news pick of the week – PayPal, Standard Chartered, Mastercard & more
Our top pick of news from the world of finance and tech in bitesize video format, every week.
Fintech funding deals globally 6 September – 12 September 2021
Featuring Varo, Scalapay, Wave, MNT Halan and Marshmallow.
Fintech start-up Koyo raises $50m in Series A round
The lender will use the cash to target the UK’s “near-prime” consumer credit market.
Irwin secures $20m in Series A funding round led by K1
The investment will help further the fintech’s mission to upgrade the capital markets software offering.
Julius Baer to revamp front-end services with Crealogix’s Digital Hub
Crealogix says its solution can help the bank offer “holistic solutions digitally”.
African fintech Wave hits unicorn status with $200m Series A round
The fintech start-up says it wants to “bring digital finance to everyone in Africa”.
PayTech Awards 2021 Winner: Icon Solutions – PayTech For Good
Icon Solutions – charitable giving at the heart of its values.
FinTech Futures Jobs: Three brilliant roles to apply for this week
Exciting vacancies at Broadridge, Checkout.com and Deloitte. Apply today!
Australian challenger Avenue lands restricted banking licence
The digital business bank wants to make it easier for SMEs to grow their businesses.
SEC threatens suit over Coinbase crypto lending product
Coinbase’s CEO and chief legal officer admonish US markets regulator over lack of clarity.
ICYMI funding round-up: TruePay, BankiFi, Aurelia, Jeff & more
Another collection of funding rounds and raises from all over the world you might have missed this week.
PayPal increases transaction fees between UK and Europe
A new 1.29% charge will come into force before the end of the year.
PayPal acquires Japanese BNPL unicorn Paidy in $2.7bn deal
PayPal sees the deal as a way to accelerate business in Japan.
Hoddle hires former FCA man Gidla as new COO
John Gidla joins the fintech after three years at the Financial Conduct Authority.
Digital challenger Varo Bank lands $510m in Series E funding round
Funds will be used to boost product and tech development and fuel customer growth.
Live Oak Bank switches retail and commercial accounts to Finxact core
North Carolina bank ticks off penultimate stage of ongoing transformation.
State Street to acquire BBH Investor Services in $3.5bn deal
State Street says the deal will help enhance its investment products and services.
Fintech ecosystem MNT-Halan lands $120m funding
The Egyptian digital platform connects merchants and users who are typically excluded from financial institutions.
Mastercard grows open banking offering with Aiia buy
The acquisition of the European open banking provider marks the latest move by Mastercard in the space.
PayTech Awards 2021 Winner: AccessPay – PayTech Team Of The Year
Satisfying the need for speed.
Yolt shuts down app to focus on open banking technology services
The Yolt app has more than 1.6 million downloads.
State Street to set up global cybersecurity unit in Ireland
The 400-strong team will support the company’s global operations.
JP Morgan pays €25m to settle French fraud case
US lender settles over arrangements with Wendel Investment Group.
Hamburg Commercial Bank goes live on Broadridge payments system
German lender aims to revamp its processing capabilities.
Expense management platform Jeeves secures $57m Series B funding
The new investment takes the start-up’s valuation up to $500 million.
Standard Chartered sets aside $107m for new digital bank in Singapore
UK-listed lender forms joint venture with Singapore’s National Trades Union Congress.
China Bohai Bank taps Bairong for AI-powered digital upgrade
China Bohai Bank will utilise Bairong’s fraud and loan monitoring systems.
Report: “Fintech vs Fintech”? The rise of digitalisation in banking
FinTech Futures launches its latest report looking into the changing nature of digital technologies in our industry.
UK industry body unveils five-year strategy to catch US and Asia
The industrial strategy aims to shore up existing UK successes in order to overtake Asia and the US.
Major Indian banks launch Account Aggregator project
New programme aims to extend financial services to millions of new customers.
Point raises $46.5 million to build out premium debit card
US challenger aims to create an anti-credit card.
