FinTech Futures: Top five stories of the week – 10 March 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Digital
LSEG’s Giact to use Mastercard’s open banking tech for account verification
Through the partnership, Giact says it will be able to deploy Nacha-compliant account verification solutions.
Global paytech Worldline opens white-label metaverse shopping mall
Retailers, service providers and banks “can build up a presence in Web3”, using a modular design method.
Orion Innovation snaps up Banktech Software for undisclosed sum
The acquisition will help Orion bring in open banking solutions and expand its digital and core banking capabilities.
ICYMI fintech funding round-up: NX Technologies, Growfin & more
Our weekly fintech round-up for you to get the latest funding news from around the world.
If you build it, the money will come
The BaaS companies that will succeed will be those with a strong growth strategy.
Kennebec Savings Bank taps Alkami for digital banking platform
The Alkami platform will provide a “consistent” user experience for Kennebec business customers.
US neobank HMBradley picks Thought Machine for core banking tech
HMBradley will utilise the vendor’s cloud-native core banking platform Vault Core to power its services.
Socure lands $95m credit facility from JP Morgan, SVB and KeyBanc
CEO Johnny Ayers says the firm plans to invest in “new solutions, verticals, and strategic acquisitions”.
US fintech lender Fynn nabs $36m in seed and debt funding
With the new funding, Fynn plans to expand across the US and offer its services to more students.
FinTech Futures Jobs: 10 inspiring women leaders who are blazing a trail in tech
Some of the most successful tech and fintech organisations around the world have women at their helm.
Canada’s Versapay names Carey O’Connor Kolaja as new CEO
O’Connor Kolaja replaces former CEO Craig O’Neill, who is set to move to an advisory role within the firm.
US student debt fintech Candidly raises $20.5m in Series B funding
The funding round was led by Altos Ventures, with existing investor Cercano Management also participating.
Introducing the PayTech Awards USA 2023
Nominations for the awards are open until 2 June 2023.
AIOps transforming service assurance for banking and financial services
A progressive disclosure approach builds trust and instils confidence as allows the user to drill into WHY.
Nubank appoints former Meta crypto head David Marcus to board
Marcus previously spent seven years at Meta and co-created the firm’s cryptocurrency Diem (formerly Libra).
US regtech Droit lands $23m Series B funding
The round was led by Pivot Investment Partners and UBS via its venture arm UBS Next.
ChatGPT and generative AI – what does banking have to do with it?
Ready or not, the generative AI genie is out of the bottle and there is no going back.
Executive panel: key banking cybersecurity developments for 2023
Ten executives from top firms, including Wells Fargo, Microsoft, TransUnion, and RBC, share their expert views.
Brazilian central bank gives Meta the go-ahead to launch WhatsApp business payments feature
Customers will soon be able to make payments to small businesses directly from WhatsApp.
PayTech Awards nominations close in two weeks!
The deadline for nominations is Friday 17 March, so don’t leave it too late!
US challenger Varo Bank reportedly raising funds at reduced valuation
Fintech Business Weekly reports the firm is raising $50m at a $1.8bn valuation, a 28% decline in value.
Budgeting app Buddy taps Klarna Kosma for automatic expense tracking
The partnership has resulted in 52% more monthly active users for Buddy, Klarna Kosma says.
The B-word
I have never known a technology to divide opinion as much as blockchain.
FinTech Futures: Top five stories of the week – 3 March 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
TrueNorth appoints Doug Woolridge as new chief growth officer
Woolridge joins from EPAM Systems and brings over 25 years of experience to his new role.
FinTech Futures Jobs: Can a four-day week succeed in fintech?
Explore thousands of open roles on the Fintech Futures Job Board today.
ICYMI fintech funding round-up: Archway, Finway, iLex and more
A handy round-up of all the latest funding endeavours by fintech companies across the world.
Transforming transformation
According to McKinsey, 70% of digital transformation projects fail. So what is going wrong?
Canadian insurance and investment fintech Equisoft lands $125m in funding
The funding saw participation from new investors Investissement Québec and the government of Québec.
Quantifind bags $23m in funding to help firms combat financial crime
Quantifind’s SaaS solutions help banks and financial institutions tackle money laundering and fraud.
Tudi taps ThetaRay for transaction monitoring solution
Through the partnership, ThetaRay will provide Tudi its Sonar transaction monitoring solution.
Xero appoints former Google exec Diya Jolly as chief product officer
Jolly joins Xero from Okta, where she served as CPO.
Power to the people: How Zenus Bank aims to democratise access to banking
FinTech Futures sits down for a chat with Mushegh Tovmasyan, founder of Zenus Bank.
Should digital banking platforms be fraud prevention solutions by design?
Banks should look to use technology to not only curb financial crime but to gain a competitive advantage.
Banking Technology Magazine March 2023 issue out now
Cover story: FACE OFF – Confrontation can be a good thing.
How fintechs can prepare for Dodd-Frank Section 1071 with compliance automation
Learn how to be ready for any and all consequences once the 1071 regulations hit.
US paytech Pagos lands $34m in Series A funding
With the funds, Pagos plans to expand its engineering team and develop its product suite.
Remitly to wind down digital banking app Passbook
All Passbook accounts will be closed on 1 May 2023.
Trade financing platform Marco lands $200m credit facility, $8m equity
Marco says the combined funding will support its ambition to “close the $2 trillion global trade finance gap”.
