Video: Seattle Bank at FinovateFall 2022 – Competition and collaboration in financial services
We chat with Josh Williams of Seattle Bank to discuss how collaboration between banks and fintechs has evolved.
Banking-as-a-Service/BaaS
HSBC Ventures invests $35m in Monese
Monese will use the new funds to grow its cloud-based Platform-as-a-Service (PaaS) business.
New challenger Wio Bank launches in the UAE
It will provide financial solutions via digital banking apps, embedded finance and as Banking-as-a-Service.
FinTech Futures: Top five stories of the week – 2 September 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Africa fintech funding round-up: Pezesha, Duplo, SubsBase, Grey and Anchor
A handy round-up of the recent funding endeavours of fintech companies across Africa.
Railsr appoints former Mastercard chair Rick Haythornthwaite as first chairman
Haythornthwaite currently chairs Ocado and the AA and previously chaired energy firm Centrica.
Q&A: How SEBx aims to “reinvent banking inside the bank”
Christoffer Malmer, head of SEBx, discusses the Nordic bank’s BaaS venture with FinTech Futures.
BankProv and Republic partner to offer escrow accounts to capital-hungry firms
BankProv CEO Dave Mansfield says working with Republic will “expand access to new investment opportunities”.
North International Bank selects Temenos to modernise digital banking services
The Caribbean bank has gone live on Temenos Banking Cloud.
Central Payments lands $30m, spins out from Central Bank of Kansas City
The bank will continue as an investor, issuer and strategic partner.
BaaS start-up Unit partners Thread to offer embedded banking services
Unit says the collaboration with Thread will “empower more companies to offer unique banking solutions”.
Arvest Bank hires Ninish Ukkan as new CTO
At Arvest, Ukkan will support its digital transformation by leading the new core banking technology initiative.
Finastra and HSBC partner up to deliver BaaS FX offering
The firms say the move will enable banks to embed FX services “directly” into corporate and branch channels.
UK fintech funding round-up: Griffin, Novatus, Zazuu and Plenitude
A handy round-up of the recent funding endeavours of fintech companies in the UK.
Lead Bank creates new BaaS position, appoints industry veteran Huma Usmani
In her new role, Usmani will focus on expanding the bank’s network of fintech partnerships.
Flyp taps Galileo to power its mobile banking platform
Galileo’s solution will serve as the backbone for Flyp’s “gamified” BaaS 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.
Mode Eleven selects Finzly’s payment core for BaaS platform
Finzly says its tech will give Mode Eleven “full control over its payment processes”.
Making the most of Banking-as-a-Service
Banks that are expressing keen interest in the BaaS model must implement and scale it with alacrity.
Virgin Money in three-year deal with Trade Ledger to digitise business lending
“At the heart of the partnership is the delivery of a digital decisioning platform,” Trade Ledger says.
MENA’s BaaS provider NymCard raises $22.5m funding
This venture round takes NymCard’s total funding to over $35 million.
Temenos gains new paytech client in the UK, Optimus Cards
Temenos’ tech was chosen for its proven reliability, resilience, and flexibility, says CEO of Optimus Cards.
LHV Group lands £30m to capitalise new UK bank
Part of the proceeds from the fundraise will be used to capitalise LHV’s new UK bank.
Video: Wells Fargo at FinovateSpring 2022 – BaaS and open banking
FinTech Futures chats with Reetika Grewal of Wells Fargo to discuss open banking and BaaS.
Video: JP Morgan at FinovateSpring 2022 – The growth of open banking
FinTech Futures chats with Eileen Holcomb of JP Morgan to discuss the growing adoption of open banking.
Card-issuing platform Marqeta partners Evolve Bank & Trust
Evolve will support the full range of Marqeta’s card programme management capabilities.
Singapore’s MatchMove acquires Shopmatic for $200m
Post-acquisition, Shopmatic CEO Anurag Avula will continue in his role.
BaaS fintech Griffin taps Clausematch for banking licence applications
Clausematch simplified the application to the Prudential Regulation Authority and the Financial Conduct Authority.
Solarisbank appoints new CIO, CTO dual leadership team as firm scales
Solarisbank says the close-knit dual leadership will “master the challenges of a growing tech organisation”.
Embedded banking models and the rise of Service-as-a-Bank (SaaB)
It’s high time that banks and credit unions stop seeing competition only as a threat.
BaaS start-up Unit raises $100m Series C, reaches $1.2bn valuation
The company intends to use the capital to “make it even easier for companies to launch and succeed”.
Westpac partners 10x Banking on new platform for institutional clients
10x Banking will provide the core technology for the new venture.
Brazilian fintech Dock lands $110m growth funding at $1.5bn valuation
Dock says the new capital will turbocharge its product development and international expansion plans.
Deloitte hires Bob Savino to offer new BaaS solution for financial institutions
Savino will head up a fintech start-up team as the consultancy looks to bring a new BaaS solution to market.
First Bank partners Finzly to offer payments services to business customers
First Bank says Finzly’s Payment Hub “gives us the speed and agility to offer a fintech-like payment experience”.
Europe fintech funding round-up: Previse, Qonto, Volume, Tuum & Monspire
A handy round-up of the recent funding endeavours of fintech companies across Europe.
UK challenger Starling secures £130.5m funding at £2.5bn valuation
The challenger plans to “build a war chest for acquisitions”.
US fintech Bond teams up with Evolve Bank & Trust for BaaS offering
The partnership will offer new debit and credit card capabilities for businesses and consumers.
BaaS platform NovoPayment lands $19m Series A funding
The round was led by Fuel Venture Capital and IDC Ventures.
MSU Federal Credit Union taps Nymbus to launch new digital brand for alumni
New digital brand AlumniFi is targeted at Michigan-based alumni.
