Banks must capitalise on the data opportunity or face extinction
Traditional banking systems remain largely built on the rails of decades-old technology.
PayTech
Payroll fintech Symmetrical.ai raises $18.5m in Series A funding
The round saw participation from Target Global, Global Founders Capital, Finch Capital and Partech, among others.
Colombian fintech Minka lands $24m
The cash will be spent on Minka’s ongoing clearinghouse and central bank infrastructure modernisation project.
When cash ceases to be king: the rise of innovative payment methods
Digital payment systems have seen explosive growth with many people moving away from cash.
Banking Technology Magazine May 2022 issue out now
Cover story: THE NEED FOR SPEED – Getting money to those that need it, fast.
Banking Circle acquires German A2A payments firm SEPAexpress
Banking Circle expects more than 20% of e-commerce transactions in Europe will be made via A2A payments by 2023.
New paytech start-up Saltare launches in the UK
Saltare aims to give large organisations the tools to pay suppliers and partners more quickly.
US paytech Choice brings on Nexa Equity as majority investor, acquires DPC
Nexa Equity aims to scale Choice through both “organic initiatives” and strategic acquisitions such as DPC.
Funding Circle founder bags $30m for new paytech
The funding was raised at a pre-money valuation of $60 million, according to Sky News sources.
Singapore’s Nium to acquire alternative payments network Socash
The acquisition is expected to close in Q3 2022, subject to customary regulatory conditions.
MoneyGram sued by CFPB and NYAG for allegedly “leaving families high and dry”
MoneyGram responded to the “baseless claims”, adding it is “fully prepared to vigorously defend itself”.
The complexities of getting funds to the people who need them during a crisis
Moving money where it’s needed quickly, reliably, and cost-effectively is more important than ever.
FinTech Futures: Top five stories of the week – 22 April 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
SH Payments hires Irmantas Kamienas as new CEO to drive European expansion
Kamienas joins from financial group SEB and will be tasked with expanding the company’s European footprint.
ICYMI fintech funding round-up: Union54, Themis & Sawa
A handy round-up of the recent funding endeavours of fintech companies across the globe.
E-book: Knowledge is power – the role of AI in building loyalty in finance
Answering the question of what, despite changing times and expectations, the key to success is.
Osterman research report: privacy compliance in the US, status and progress in 2022
The emergence of new privacy regulations in the US and recommendations for the next wave of compliance.
PayU acquires Ding and invests in Treinta to boost presence in Latin America
PayU has invested more than $1 billion in fintech companies to date.
Fintech Leaders Report: In-depth insight into the future of fintech
Download this influential global study on the fintech industry’s present and future.
UK paytech MYPINPAD merges with Singapore’s SmartPesa
The new combined entity will operate under the MYPINPAD brand and will double its global footprint.
The potential of DLT for capital market firms keen to overcome post-trade challenges
DLT has the potential to bring post-trade processing into the 21st century.
Stripe appoints Microsoft’s James Phillips as new president of financial services
James Phillips joins Stripe after a decade at Microsoft.
Ant Group snaps up majority stake in 2C2P to drive digital payments adoption
Ant Group will become a majority shareholder of 2C2P.
Artificial intelligence: a winning strategy for payments
AI offers a winning strategy in the race to reduce fraud and continue improving payment flows.
European fintech start-ups Montonio and Payaut secure funding
Montonio raised €11 million and Payaut secured €8 million, respectively.
Crypto paytech MoonPay receives $87m from entertainment and sporting stars
MoonPay CEO says: “Web3 is radically changing the way we approach the business of entertainment, sports and music.”
Paysafe appoints former FIS president as new CEO
Bruce Lowthers succeeds Philip McHugh, who is stepping down after three years in the role.
Why embedded finance is the next big thing
Embedded finance has already started to streamline financial processes in both consumer and business commerce.
Form3 partners Goldman Sachs TxB to launch FX solution
Form3 CEO says the partnership with Goldman Sachs TxB forms part of the company’s growth strategy.
Nigerian fintech start-up Kippa launches digital payments offering for African SMEs
Kippa Payments is the second product launched by the start-up since it was founded in June 2021.
Stripe-backed one-click checkout fintech Fast folds
Fast CEO Domm Holland says: “Sometimes trailblazers don’t make it all the way to the mountain top.”
Spanish payments firm PayRetailers scoops up two LatAm e-commerce platforms
The firm has acquired Chile’s Paygol and Colombia’s Pago Digital.
UK fintech Fidel API secures $65m Series B round
Funding will help the firm meet the “ever increasing demand for tools that enable programmable money experiences”.
ICYMI fintech funding round-up: Gotrade, lemon.markets, Unifimoney & Gaviti
Our weekly fintech round-up for you to get the latest funding news from around the world.
Charitable giving start-up Daffy on the growth of donor-advised funds
FinTech Futures speaks to Daffy’s Adam Nash and Lorie Lambert about streamlining donations.
Advent International acquires European paytech Mangopay, invests €75m
French banking group Crédit Mutuel Arkéa will remain a minority shareholder in the firm.
NatWest taps Bottomline to tackle authorised push payment fraud
NatWest will look to utilise Bottomline’s confirmation of payee (CoP) solution.
ANZ and Worldline launch new payment service in Australia
Worldline holds a 51% stake in the new entity, with ANZ holding the remaining 49%.
Apple reportedly looking to build its own payments and lending infrastructure
Plans reportedly include bringing services such as payment processing and risk assessments for lending in-house.
Banking Technology Magazine April 2022 issue out now
Cover story: WINDS OF CHANGE – Tackling the carbon cost of technology.
