Salt Edge partners Azimut to launch investment app Beewise
The partnership will enable Beewise users to connect their existing bank accounts securely to the new app.
Savings
Truist snaps up Gen Z-focused personal finance app Long Game
Under the deal, Long Game’s engineers, designers and business leaders will join Truist’s innovation team.
Another brick in the wall: how Bloom is helping teens build financial literacy skills
Bloom enables teenagers to start building wealth by investing in the stock market and learning about finances.
Fintech app for teens Copper secures $29m Series A
The latest round takes Copper’s total capital raised to date to $42.3 million.
Robinhood announces layoffs, sheds 9% of full-time workforce
CEO Vlad Tenev cites duplicate roles and job functions and “more layers and complexity than are optimal”.
Fintech start-up Valor set to launch in US for Latino and Hispanic communities
The company was founded by WePay alumni Parag Gupta (CEO) and Sankate Sharma (CTO).
US financial services super-app Multicent gears up for launch
Multicent will offer personal and business accounts, a crypto exchange and merchant services.
Investment management platform FundGuard lands $40m Series B
The round saw participation from Citi, State Street, Blumberg Capital, LionBird Ventures and Team8 Capital.
Nigerian digital bank Umba raises $15m Series A funding
Following the Series A, Umba has now raised a total of around $17.5 million to date.
Savings and retirement wealthtech Lilly set to launch in US
Billed as “the world’s first retirement debit and credit card”, the service will cost from $5 a month.
UK savings app Moneybox lands £35m Series D
The investment brings Moneybox’s total funding raised to date to £95 million.
RBC set to acquire UK wealth management firm Brewin Dolphin in £1.6bn deal
The deal is subject to shareholder and regulatory approval and is expected to be completed by Q3 2022.
New German fintech SaveStrike aims to help millennials invest and save
The upcoming SaveStrike app is designed to make spending, saving and investing more straightforward.
Goldman Sachs snaps up retirement robo-advisor NextCapital
The transaction is expected to be completed in the second half of 2022.
FinTech Futures: Top five stories of the week – 25 March 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
USAA hit with $140m fine from FinCEN for Bank Secrecy Act violations
USAA admitted to failing to accurately report in a timely manner thousands of suspicious transactions to FinCEN.
US fintech Acorns lands $300m investment to boost growth
The funding comes after the fintech abandoned its planned IPO in January.
Oklahoma’s First National Bank & Trust taps CSI for core banking upgrade
The bank will deploy CSI’s NuPoint core banking platform.
Youth-focused fintech FinZi set to launch in Colombia
FinZi has already secured a pre-seed capital raise worth $350,000.
Payroll API fintech Atomic secures $40m Series B funding
Atomic wants customers to be able to invest, save and accrue wealth by “unlocking the power of their paychecks”.
Ireland’s An Post partners Tink to provide money management services
Tink’s technology provides insights to help An Post customers improve their financial health.
Canada’s TD Bank snaps up First Horizon for $13.4bn in US expansion push
The combined entity will become a top six US bank, serving 10.7 million customers across 22 states.
Banking challenger and investing platform Finch set to launch in US
Finch boosts users’ credit score by reporting spending to US credit bureaus Equifax, Experian and TransUnion.
Swedish challenger Rocker introduces fingerprint sensor biometric payment card
Rocker’s biometric payment card is the first of its kind in Sweden.
Aussie banking app Douugh taps TrueLayer for open banking data access
Australia’s Consumer Data Right framework enables the sharing of customer data between banks and fintechs.
Seven ways “saving” has changed during the pandemic
Seven changes we’ve seen during the pandemic that will drive long-term changes for savings providers.
Askari Bank taps Hysab Kytab for personal financial management tech integration
The integration of the PFM solution forms part of the bank’s ongoing digitisation strategy.
Digital-first “bank for youth” LINC launches in Jordan
The neobank has been built by Cairo Amman Bank, a full-service bank in Jordan and Palestine.
US mobile banking app Spruce launches powered by SoFi Technologies’ Galileo
The mobile banking platform has been built by H&R Block and launched on 20 January 2022.
UK challenger bank Atom raises £75m as it heads toward IPO
The UK’s first app-based bank has raised more than £75m in new equity priced at 70p per share.
Wealthtech FNZ secures $1.4bn investment
The company says the investment is one of the largest ever primary equity raises in the sector.
Digital bank Tonik raises $131m, eyes international expansion
Tonik’s Series B equity funding round was led by Japanese banking heavyweight Mizuho Bank.
Mos secures $40m Series B funding to drive product expansion
The cash will go towards hiring new staff as Mos looks to maintain its recent growth spurt.
Germany’s Vivid Money raises €100m Series C to turbocharge super-app plans
Vivid Money doubles its valuation in less than a year to €775m.
Lowering the ladder: how NY fintech Xrent plans to help millennials become homeowners
“We have seen a widening wealth gap trend without much sign of slowing down,” says Xrent.
New neobank Coupl set to launch in India
Start-up allows couples to set up joint accounts and manage their money together.
Canadian fintech Koho lands $165m Series D funding
The firm says the investment is one of Canada’s largest fintech funding rounds.
US mutual savings bank Mascoma in tech revamp with Thought Machine
“We believe that modern technology is the key to unlocking superior customer service,” says Mascoma CEO.
Walmart-backed Hazel snaps up fintech platforms Even and One in super app push
Walmart CEO says the app will allow users to “manage their money in one place”.
Socially responsible savings app Cushon raises £35m, makes third acquisition
Cushon becomes the fifth largest master trust pension provider in the UK.
