Pagaya buys Darwin Homes to capitalise on rental market
Post-acquisition, Pagaya and Darwin’s SFR business now operates in more than 30 markets across the US.
News
Aussie paytech Till Payments cuts 120 staff
AFR reports the firm has also appointed three new board members and plans to go public.
Israeli trade financing start-up 40Seas raises $111m
40Seas offers financing for SMEs involved in global commerce.
FinTech Futures: Top five stories of the week – 13 January 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Crypto.com to cut 20% of workforce citing “unforeseeable industry events”
CEO Kris Marszalek says several factors have led to the decision to let go of around 800 employees.
American Express buys Israeli B2B payments automation start-up Nipendo
Amex plans to “integrate Nipendo’s team, technology and capabilities” to boost its B2B payments offerings.
Video: Highlights from the latest Banking Tech Awards
An incredible evening with nearly 500 guests celebrating the best and brightest in banking technology and fintech.
ICYMI fintech funding round-up: Butter, Mondu, kompasbank and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
CFPB outlines public registry proposal for nonbank terms and conditions
Firms would need to submit information on terms and conditions that “waive or limit” consumer rights.
FCA fines Al Rayan Bank £4m for inadequate AML controls
Al Rayan did not dispute the FCA’s findings and agreed to settle.
Apex Group snaps up Pacific Fund Systems
PFS is a fund administration software company headquartered in the Isle of Man.
JP Morgan sues Frank founder for allegedly inflating user figures
JP Morgan acquired the student loan application fintech for $175 million in 2021.
Wall Street heavyweights BlackRock and Goldman Sachs cut jobs
The cuts amount to around 6.5% of the total staff headcount at Goldman and less than 3% at BlackRock.
Tide names Meta’s Vinay Ramani as new chief product officer
Ramani says he is joining Tide at a “critical juncture in its plans to globalise”.
Automated intelligence regtech Cube acquires The Hub
Cube’s CEO says the deal marks the first in what is expected to be a series of acquisitions.
Tap Global becomes UK’s first listed crypto exchange services provider
Tap Global raised £3.1 million from listing on the UK-based Aquis Stock Exchange.
PayQuicker appoints Nazuk Jain to lead product development
Jain will build out the firm’s product team and manage its expanding product roadmap.
Healthcare paytech Paytient lands $40.5m Series B
The round consists of $33m in equity and $7.5m in debt from Silicon Valley Bank.
Germany’s Gen Z neobank Ruuky files for insolvency
The neobank has assured customers that all their funds are secured and its app is still “fully accessible”.
UK specialist lender Connect makes new senior hires for “ambitious growth”
Founder and CEO Liz Syms says the new hires will help deliver on Connect’s “ambitious plans”.
Fintus acquires fellow German fintech Finstreet
The acquisition follows an investment from AnaCap Financial Partners into Fintus.
Allied Payment Network appoints Kathi Klawitter as COO
Kathi Klawitter joins Allied Payment Network from banking and payments tech heavyweight Fiserv.
Swiss payment app Twint taps NetGuardians for fraud prevention boost
Software leverages behavioural analytics, machine learning and artificial intelligence to detect anomalous payments.
SME insurtech Superscript lands £45m Series B
The funding will be used to develop Superscript’s underwriting and broking capabilities.
Progressive Building Society taps Jade ThirdEye to fight financial crime
Progressive says it wants to enhance its ability to detect money laundering and financial crime.
Africa’s Flutterwave reportedly in bid to acquire British fintech Railsr
An insider reportedly told Sky News that there was “heavy competition for the asset”.
Coinbase to cut 950 jobs and shut down several projects
Coinbase CEO and co-founder Brian Armstrong says he is “still optimistic about our future and the future of crypto”.
Nuvei to acquire Paya for $1.3bn
With Paya’s acquisition, Nuvei expects to capitalise on domestic and global payments opportunities.
L&N Federal Credit Union taps Jack Henry for tech upgrade
With Jack Henry’s tech, L&N FCU plans to continue expanding its services while maintaining its “hyper-local approach”.
Allianz, Santander CIB and Two partner for corporate BNPL solution
The solution means corporates can now offer business buyers deferred payments at checkout through a single API.
PayTech Awards 2023 now open for nominations
PayTech Awards are open to banks, financial institutions, paytech software & services providers worldwide.
Nordic bank DNB automates chat traffic with Boost.ai virtual agents
The bank says deploying Boost.ai’s solution has led to an increase in customer satisfaction scores.
Decentralised paytech Clowd9 taps Netcetera as payment security provider
Netcetera’s 3D secure server solution reduces the risk of non-authenticated transactions.
Ex-Nordea exec Erik Zingmark joins Loomis Pay as CEO
Zingmark joins Loomis Pay from Nordea, where he worked for over eight years in various roles.
The Nottingham appoints Anthony Murphy as CFO
Murphy will join NBS in March, leading the firm’s finance team and tasked with driving its strategic growth.
Global fintech funding saw dip in 2022, says Innovate Finance report
The US saw the highest number of fintech funding in 2022 at $39 billion, followed by UK and India.
Zodia Custody names Julian Sawyer as its new CEO
Sawyer has previously served as CEO of cryptocurrency exchange Bitstamp, and was co-founder of Starling Bank.
Jack Ma to cede control of Chinese fintech Ant Group
After the restructuring, “no shareholder, alone or jointly with other parties, will have control over Ant Group”, the firm says.
Radu Topliceanu named as new head of digital bank Mashreq Neo
Mashreq Neo is the digital offshoot of UAE’s Mashreq – “a bank for a brilliant new world” – launched in 2017.
Funding Circle appoints Steve Allocca as US managing director
Prior to Funding Circle, Allocca was chief operating officer (COO) at small business banking provider BlueVine.
