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”.
North America
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.
ACI Worldwide mulls potential sale
The payments software firm is working with financial advisors as it gauges interest levels, sources tell Bloomberg.
Crypto API provider Wyre reportedly shuttering
The news comes after Wyre was set to be acquired by e-commerce checkout fintech Bolt in April last year for $1.5bn.
Silvergate reveals depleted deposits, significant layoffs, and impairment charges
Silvergate Capital’s share value dropped by over 40% in response to the financial results.
Coinbase hit with $50m fine for “significant” compliance failures
Coinbase has also been ordered to invest an additional $50m into its compliance programme over the next two years.
Blockchain compliance firm Securrency appoints Nadine Chakar CEO
Nadine Chakar replaces Sucurrency founder and CEO Dan Doney, who moves to the CTO role.
US agencies outline risks of crypto to banking system
In a year marked by “significant volatility”, the agencies highlight a number of risks banks should consider.
GoLogiq and GammaRey merge to focus on millennial wealth management
The combined firm has plans to focus on the burgeoning market of wealth management aimed at Gen Z and millennials.
The Clearing House appoints David Watson as CEO
Watson joins The Clearing House from Swift, and will take up the new role from 1 February 2023.
Swift names Stephen Grainger as chief executive for Americas and UK
Grainger brings 20 years of banking and payments experience to his new role.
CFPB orders Servicio UniTeller to refund fees and pay penalty
The CFPB says between 2013 and 2021, the firm “failed to comply” with many electronic money transfer requirements.
FinWise Bank taps Finastra for core banking solution
FinWise says it selected Finastra to propel its banking business and build on its fintech partnership lending programme.
Coastal Community Bank hires Barb MacLean as head of tech
MacLean brings to the role more than two decades of experience, having spent over 21 years at Celero Solutions.
Splitit and Worldline ink North American BNPL deal
Initially, Worldline plans on integrating Splitit into its North American processing platform before expanding into other geographies.
Ethereum-focused Aztec Network lands $100m Series B
The Series B was led by a16z crypto and saw participation from A Capital, King River, Variant, and others.
White paper: How mortgage-as-a-service levels the playing field for minority and first-time homeowners
How industry leaders leverage mortgage-as-a-service to increase minority and first-time homeownership.
Wells Fargo fined $3.7bn for loan, mortgage and deposit mismanagement
Wells Fargo must pay more than $2bn in redress to 16 million affected consumers and a $1.7bn civil penalty.
Mechanics Cooperative Bank selects Finastra’s Payments To Go solution
The bank is expanding its partnership with Finastra to introduce new business payments services.
Workday appoints Sequoia Capital’s Carl Eschenbach as co-CEO
After January 2024, it is expected that Eschenbach will take up sole CEO responsibilities.
Crypto exchange Binance.US to acquire Voyager assets in $1bn deal
Voyager says the bid “sets a clear path forward” for customer funds to be unlocked “as soon as possible”.
LSEG looks to boost post trade offering with Acadia acquisition
The deal is the latest in a string of acquisitions for LSEG this year.
Canada’s Plooto secures $20m Series B funding to fuel growth
The start-up offers accounts payable and accounts receivable automation software for SMBs.
CWB expands Brim Financial partnership with new business credit card offering
Customers will have access to Brim’s full suite of product capabilities powered by the fintech’s tech platform.
ConnexPay hires payments “titan” Blair Jeffery as COO
Jeffery will lead the company’s core strategic and operational teams.
Visa to invest $1bn in Africa to boost digital transformation
Visa says the move will enable “greater access” to digital payments in the region.
Dataiku bags $200m Series F funding at $3.7bn valuation
The new investment brings Dataiku’s total capital raised to date to approximately $600 million.
MICT completes acquisition of African agri-fintech firm Tingo
MICT owns “100% of the operating business and assets” of Tingo after snapping up Tingo Mobile.
Trovata partners JP Morgan for corporate liquidity solution
Trovata will host JP Morgan Asset Management’s Morgan Money investing application.
Circle scraps proposed SPAC deal with Concord
Termination of the merger was approved by the board of directors of both Concord and Circle.
Canadian fintech Koho taps Duco for data reconciliation platform
Duco’s platform will allow Koho to cut costs, improve data quality and lower its operational and audit risk.
Accounting automation platform Vic.ai bags $52m Series C funding
With the new funding, Vic.ai plans to introduce a host of new features on its platform.
Thoma Bravo to acquire Coupa Software for $8bn
Coupa says the deal is expected to close in the first half of 2023.
Microsoft buys 4% stake in LSEG, pair to develop data analytics solutions
LSEG has also committed to a $2.8bn cloud-related spend with Microsoft over the life of the 10-year agreement.
US paytech Cantaloupe buys Three Square Market for $41m
The acquisition was funded with 90% cash and 10% stock.
TreviPay to acquire fellow US paytech Apruve for undisclosed sum
With the acquisition, TreviPay plans to expand its B2B payments network.
Banking Tech Awards USA will be returning for a second year
Nominations for the 2023 awards are now open.
The Independent BankersBank in tech overhaul with Jack Henry
Texas-based TIB is moving from a proprietary 20-year-old core to a fully outsourced tech model.
TripActions bags $400m in credit facilities to boost expansion
The new credit facilities have been provided by Goldman Sachs Bank USA and Silicon Valley Bank.
Getting banked: financial services and the US cannabis industry
We chat with Michael Beird of Infused Banking about how banking is changing for US cannabis businesses.
