Buy now, worry about it later: the future of BNPL
Buy now, pay later – is there a more apt fintech application for our times than BNPL?
Europe
Enfuce wins State Treasury of Finland contract to modernise prepaid cards
The five-year contract was signed on 15 February 2023.
European paytech Lyra taps Napier for transaction monitoring
Lyra will utilise Napier’s transaction monitoring solution to ensure its compliance with regulatory requirements.
UK car finance fintech Carmoola secures £95m debt facility from NatWest
The firm has also bagged £8.5 million in a Series A funding round led by QED Investors.
Mizuho International taps SymphonyAI to help fight financial crime
Mizuho will use SymphonyAI Sensa to boost AML protection within its European capital markets division.
Chetwood’s SmartSave Bank partners cash deposit platform Flagstone
Under the new partnership, SmartSave’s fixed rate accounts will be made available to Flagstone clients.
Dutch challenger Bunq becomes first EU neobank to report a quarterly profit
Bunq reported a pre-tax profit of €2.3 million over Q4 2022.
European Commission launches blockchain regulatory sandbox
While blockchain is known for crypto, the Commission says the tech has a “wider utility” beyond financial services.
Icelandic neobank Indó taps Lucinity for AML protection
With the partnership, Indó will have access to Lucinity’s transaction monitoring and case manager solutions.
Bank of Russia to launch digital ruble pilot in April
Olga Skorobogatova, first deputy chair of the central bank, announced the news.
Pliant raises $28m in Series A funding
Founded in 2020 and based in Berlin, Pliant offers a B2B credit card platform.
Tesco reportedly exploring sale of banking business
According to Sky News, Tesco is launching a review of its UK banking activities.
Lithuania’s central bank reportedly investigating Railsr over AML failures
The Telegraph reports that Railsr’s Lithuanian subsidiary is being investigated by the country’s central bank.
Santander reportedly in discussions to purchase Abrdn’s private equity unit
A deal could be made in the next few months with the unit valued at around £250m, Sky News reports.
PPRO extends payments infrastructure to South Korea
This integration “opens up a gateway” for PPRO’s global partners to reach South Korean consumers, PPRO says.
Facing the FCA armed with data
Fintechs are finding themselves subject to increasing scrutiny by regulators regarding AML compliance.
Payoneer lands UK e-money licence from FCA
Payoneer secured the EMI via its subsidiary Payoneer Payment Services UK.
WealthKernel names Michael Rigby as new chief compliance officer
Rigby joins from Investec Wealth and Investment and brings over 30 years’ worth of experience to the role.
Solving the cybersecurity puzzle
FinTech Futures speaks to City University of London’s Raj Muttukrishnan and Crossword’s Stuart Jubb.
UK fintech funding round-up: Omnio, Landytech & Sikoia
A handy round-up of the recent funding endeavours of fintech companies across the UK.
Zopa acquires DivideBuy in “BNPL 2.0” push
Zopa’s “BNPL 2.0” offering will allow consumers to spread the cost of purchases worth between £250 and £30,000.
UK fintech Deko hires Joseph Tucker as new CFO
Tucker joins from NewDay, which acquired Deko in January 2020.
UK government lays out plans for BNPL legislation
The UK government is looking to bring BNPL into the regulatory sphere “in a proportionate way”.
NewDay taps Checkout.com to streamline debit card payments
The partnership, which is already live, gives NewDay access to Checkout.com’s full suite of payment products.
FCA clamps down on unregistered crypto ATM operators in Leeds
The FCA will review evidence gathered during the visits and consider further potential enforcement action.
New “cross-border neobank” in India: moneyHOP
FinTech Futures sits down for a chat with Mayank Goyal, founder and CEO of moneyHOP.
New app Tapeeno turns Android phones into card readers
Tapeeno “significantly” reduces the funding delay most businesses experience, the firms claim.
Digital asset infrastructure provider Taurus lands $65m Series B
Credit Suisse, Deutsche Bank, Pictet Group and Arab Bank Switzerland all participated in the round.
NatWest Group snaps up UK fintech Cushon for £144m
The acquisition will enable NatWest to offer its commercial customers a suite of financial wellbeing products.
Ex-Plaid exec Keith Grose joins Sequence as COO
Prior to joining Sequence, Grose served as head of UK for Plaid for four years.
Paysafecard CEO Udo Mueller departs firm
Mueller will focus on “helping other companies and entrepreneurial fintech enthusiasts in their growth ambitions”.
Swiss digital asset fintech Scrypt names Marc Wäckerlin as CTO
Most recently, Wäckerlin was CTO and executive director at Swiss crypto bank Sygnum.
Banking Tech Awards 2022 Winner: Updraft – Best Digital Initiative for Lending
Reinventing financial planning and disrupting unsecured lending markets.
Ziglu founder and CEO Mark Hipperson resigns
Hipperson will remain on Ziglu’s board as a part-time non-executive director.
UK building society Nationwide to cut around 450 jobs
Nationwide confirmed it is cutting around 450 jobs as it looks to “streamline” its non-customer-facing teams.
Digital asset exchange Gate.io taps Coinfirm for AML/CFT platform
Gate.io says the Coinfirm partnership will give the firm “a solid foundation” and shore up its compliance.
Digital asset security firm Coincover bags $30m in funding
The funding will be used to boost recruitment, forge new partnerships and develop new products.
Lunar lands €35m in fresh funding to boost Nordic expansion
Most of Lunar’s existing investors took part in the funding round, the neobank says.
Europe fintech funding round-up: Kennek, Mazepay, Uniify and Snab
Our weekly fintech round-up for you to get the latest funding news from around the world.
Deutsche Börse inks 10-year strategic partnership deal with Google Cloud
Deutsche Börse will leverage Google Cloud’s capabilities to develop its digital securities platform D7.
