UK’s FCA names first members of its new innovation advisory group
The Innovation Advisory Group (IAG) will meet for the first time in February, the FCA says.
Europe
European Parliament outlines plans for an EU-wide digital wallet
The use of the EU wallet will “always be voluntary”, MEPs say.
Carbonplace lands $45m seed funding, names new CEO
With the new funding, Carbonplace plans to scale its platform, expand its team and forge partnerships.
FNZ to acquire Luxembourg-based B2B fund platform Ifsam
FNZ says the acquisition will strengthen its client proposition and build out its presence in Luxembourg.
SME lender Merchant Money scores £115m in funding
The funding will grow Merchant Money’s lending books across its secured and unsecured product offerings.
Bank of England and HM Treasury outline case for digital pound
The Bank and HM Treasury plan to “accelerate” work on the technology and policy architecture for a digital pound.
Nokia aligns growth and financing strategy with ESG targets
The firm is aiming to maintain its growth in data traffic while reducing its energy consumption.
The Bank of London bags $40m in Series C extension
The round was co-led by Mangrove Capital Partners and 14W Venture Capital.
Arab Bank Switzerland taps InvestGlass for digital onboarding solution
Arab Bank says the solution will boost client experience while maintaining high levels of security.
Target Group names Katherine Bowen as new CFO
Bowen joined Target Group nearly five years ago as a finance business partner.
Lloyds Banking Group appoints Martyn Atkinson as CIO, consumer relationships & mass affluent
Atkinson moves from merchant bank Close Brothers, where he was COO for four years.
Virtual card paytech Conferma Pay names Jason Lalor as CEO
Lalor most recently served as CEO of Square’s European business.
Digital financial crime platform Themis names Matthew Hurn as chairman
Hurn has been a Themis investor and board member since June 2020.
Fraud prevention platform Seon acquires AML firm Complytron
Thanks to the acquisiton, Seon will be able to offer “a vital single source” to fight fraud holistically.
UK’s Shawbrook Bank taps Cashflows to streamline payments
Cashflows will enable Shawbrook to process its e-commerce business finance collections through a virtual terminal.
European Central Bank to stress test 99 eurozone banks in 2023
The testing forms part of the 2023 EU-wide stress test coordinated by the European Banking Authority.
Detected names Mike Ainslie chief financial officer
Ainslie brings a “wealth of experience” within the financial and operations industry, Detected says.
Banking Tech Awards 2022 Winner: Finova – the mortgage market is in a tangle & we need new tools to fix it
Combine algorithmic price optimisation with powerful ML techniques, and you’ll have a robust tool for performance analytics.
ICYMI fintech funding round-up: Stubben Edge, Elementaryb and Bud
A handy round-up of the recent funding endeavours of fintech companies across the globe.
BBVA migrates its investment banking platform to the cloud with AWS
BBVA says the AWS platform “provides greater computing power” to make financial market-related calculations.
More banking hubs and pods earmarked for UK as branch closures continue
A further nine banking hubs and six deposit services have been recommended by Link.
Financial planning platform Lyfeguard launches in the UK
The start-up aims to tackle the problem of poor personal information storage and management.
JP Morgan reportedly planning German digital bank offering
The launch is set for late 2024 or early 2025, Bloomberg reports.
UK challenger Zopa lands £75m funding to fuel growth
Zopa says the deal “cements and markedly enhances” its unicorn valuation.
UK government to strengthen rules around crypto
The government will strengthen rules for crypto trading platforms and crypto lending in line with traditional finance.
UK’s Tech Nation to close, sell assets after losing government grant funding
Tech Nation says it is “actively seeking” interested parties to acquire a portfolio of its assets.
Swiss private bank Bergos goes live with FNZ’s core banking tech
Bergos customers will now be able to manage their finances through a mobile app.
UK-based digital asset wallet Mode to shut down
Mode says it is winding down its services “due to unsuccessful funding and difficult market conditions”.
DekaBank taps Metaco for digital asset custody platform Harmonize
The platform will enable DekaBank to offer custody services for cryptocurrencies and digital securities.
Liberis lands €30m in debt financing from Silicon Valley Bank UK
The funding will support Liberis’ targeted expansion across the Nordics and Europe.
Leeds Building Society embarks on major tech & ops transformation
The UK’s fifth largest building society looks to replace core tech and hire more tech staff.
UK fintech Raylo bags £110m debt financing facility
Raylo provides consumers with “affordable” access to tech products on a monthly subscription basis.
New savings app for homeowners in the UK: Sprive
Sprive’s AI mortgage assistant, available through a mobile app, helps customers pay off their mortgage faster.
Data management platform Finbourne lands £30m debt facility with Kreos
The debt facility constitutes an extension to Finbourne’s Series A funding held in April 2021.
UK mortgage lender LiveMore bags £250m credit facility from Citi
The new funding facility will enable LiveMore to increase loan originations and grow its portfolio.
German challenger N26 names Arnd Schwierholz as CFO
Schwierholz, who will assume the role of CFO on 1 February 2023, replaces Jan Kemper.
Dubai Investments buys 9% stake in UK challenger Monument Bank
Dubai Investments says the acquisition gives it a “unique opportunity” to move into the digital banking space.
Report: How banks can blend digital and human for superior customer experience
Featuring practical business banking case studies from Metro Bank, Santander, and Lombard.
Commerzbank files lawsuit against EY over €200m Wirecard losses
Commerzbank has filed a suit against the accounting firm in Frankfurt court, Reuters reports.
Ecospend’s “pay-by-bank” open banking tech drives HMRC app payments
This is first time an open banking payment method was embedded in a government department’s system.
