Capital markets fintech PrimaryBid names Fiona Richards as COO
Fiona Richards joins PrimaryBid from Rowan Dartington, the discretionary investment arm of St. James’s Place.
News
FNZ acquires wealthtech start-up YieldX
YieldX’s fixed income portfolio management technology will be integrated into FNZ’s wealth platform.
Swedish fintech start-up Anyfin lands €30m Series C funding
The cash will be used to strengthen its product suite in existing markets and boost its growth across Europe.
Cartoon: Sandwich making
A new cartoon illustrating the consolidation and M&A process that the fintech market is starting in earnest.
US fintechs Core10 and Union Credit secure funding
Two fintech companies in the US – Core10 and Union Credit – have reported funding this week.
Aussie start-ups Alii and Bloom raise funds
Alii and Bloom Impact Investing, two start-ups based in Brisbane, have reported cash injections.
UK fintech investment & funding round-up: Alveo, Detected, & London House Exchange
A handy round-up of UK fintechs that are the latest lucky recipients of funding.
FinTech Futures: Top five stories of the week – 20 January 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Oracle Flexcube core banking system gains new takers
The banking tech vendor also signed licence fees of $27.5 million in the latest quarter.
US DoJ charges crypto exchange founder over alleged illicit fund transfers
The DoJ alleges Bitzlato processed more than $700m in illicit funds.
Belgium’s oldest private bank Nagelmackers in digital revamp with Objectway
Nagelmackers is implementing Objectway’s platform for its advisory, discretionary, and execution-only offering.
Data automation platform Xceptor names Michiel Verhoeven as new CEO
Verhoeven, currently managing director of SAP UK and Ireland, will assume the role on 3 April 2023.
India’s PhonePe lands $350m from General Atlantic at $12bn valuation
PhonePe expects to raise a total of $1 billion in funding, with other firms set to invest next month.
US fintech Arcus Partners appoints new CTO, Saurabh Bhole
Bhole will be tasked with leading the further development of the company’s Finity360 product suite.
SEC charges Genesis, Gemini over alleged sale of unregistered securities
The SEC alleges that the Gemini Earn program “constitutes an offer and sale of securities under applicable law”.
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.
Abacus Group snaps up cybersecurity firms Gotham Security and GoVanguard
The new business will be a subsidiary of Abacus Group but will continue to operate independently.
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.
The Nottingham names Gareth Hagger-Johnson as its first director of data strategy
Hagger-Johnson will be tasked with developing a new data and insights framework for the firm.
Indian government set to spend $320m to boost adoption of digital payments
The government hopes its plan will facilitate the development of “a robust digital payment ecosystem”.
New paytech Enza launches in Africa
Enza aims to provide payment solutions to firms that want to enable customers to accept or make digital payments.
Get recognition at this year’s Banking Tech Awards USA
Nominations for the 2023 awards are now open – apply today!
Video: Infosys Finacle on the need for banks to be digital to the core
We speak with Infosys Finacle’s John Barber about digital transformation and the future of core banking tech.
Alipay partners Splitit for ‘pay after delivery’ offering
The service will initially launch in Germany, France and Spain, with plans to expand into other global markets.
Clearco lays off 30% of workforce, CEO Michele Romanow resigns
Romanow will reportedly transition to the role of executive co-chair and remain on the company’s board.
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.
BNPL fintech Tabby lands $58m in Series C funding
The Dubai-based firm plans to use the funding to support its growth and expand its product line.
Chief strategy and digital officer of Banque Saudi Fransi departs
He describes his tenure at BSF as an “amazing four years” in a LinkedIn post about his departure.
State Bank of Pakistan names five successful digital bank applicants
The country’s central bank and regulator expects these new digital banks to promote financial inclusion.
UK fintech Paddle cuts 8% of workforce
Founder and CEO Christian Owens says the firm is looking to “adapt to what will be leaner times going forward”.
Nexi taps IBM to upgrade core payments infrastructure
Nexi will utilise the tech giant’s IBM z16 and IBM Storage System offerings.
Tyme Group opts for Mambu’s core banking tech for Philippines’ GoTyme Bank and future banks across Asia
Mambu’s platform enabled a “lift and shift” of Tyme Group’s digital bank concept from South Africa to the Philippines.
ClearBank names new CFO, Mark Fairless
Fairless joins ClearBank from savings and investment firm M&G.
Callsign’s chief commercial and strategy officer Amir Nooriala leaves
Nooriala says he is “taking a step back from day-to-day operational roles in tech start-up land”.
Crypto firm Nexo denies allegations made by Bulgarian prosecutors
Nexo intends to file claims “for all financial and non-pecuniary damages suffered as a result of illegal actions”.
Cognizant names former Infosys president Ravi Kumar as new CEO
Kumar succeeds Brian Humphries, who will remain at the firm until 15 March to facilitate a “smooth transition”.
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.
Enfuce and Orka Ventures launch consumer lending product in Europe
Orka Card will enable customers to integrate all their existing bank accounts into one card and app.
Hadhramout Commercial Bank opts for ICS Banks core banking system
Hadhramout Commercial Bank (HCB) is a new universal bank in Yemen.
New consumer lending fintech Salmon launches in the Philippines
Salmon claims to have over 2,000 customers and over 30 merchant partners for its lending product.
