EU Commission blasts anti-competitive Apple for lack of third party NFC access
The EU Commission claims Apple has violated anti-trust rules for the benefit of its own Apple Pay.
USA
First United Bank & Trust taps Finotta for personalised mobile banking
First United says the partnership will support its “vision to elevate 10 million lives by the year 2030”.
Truist snaps up Gen Z-focused personal finance app Long Game
Under the deal, Long Game’s engineers, designers and business leaders will join Truist’s innovation team.
NLP platform for financial services Accern raises $20m
Accern CEO says: “With this funding, we will scale sales and marketing to empower more citizen data scientists.”
Co-branded credit card platform Concerto launches with $21m funding
The early-stage round was led by Matrix Partners and saw participation from PayPal Ventures.
Rewards platform Kard secures $23m in Series A funding round
The new funds will be used to expand its merchant network and product offering.
California fintech Point secures $115m Series C to accelerate growth
Point enables homeowners to unlock equity from their homes.
Another brick in the wall: how Bloom is helping teens build financial literacy skills
Bloom enables teenagers to start building wealth by investing in the stock market and learning about finances.
North America fintech funding round-up: CoreChain, OneVest & Crowdz
This week’s funding round-up includes three North American fintechs – CoreChain, OneVest & Crowdz.
CFPB invokes “largely unused” Dodd-Frank law to scrutinise fintechs
“This authority gives us critical agility to move as quickly as the market,” CFPB director Rohit Chopra says.
Fintech app for teens Copper secures $29m Series A
The latest round takes Copper’s total capital raised to date to $42.3 million.
US challenger Cogni lands $23m in Series A funding
Cogni claims to be focused on bridging the gap between Web2 and Web3 capabilities.
Robinhood announces layoffs, sheds 9% of full-time workforce
CEO Vlad Tenev cites duplicate roles and job functions and “more layers and complexity than are optimal”.
US paytech Choice brings on Nexa Equity as majority investor, acquires DPC
Nexa Equity aims to scale Choice through both “organic initiatives” and strategic acquisitions such as DPC.
Fintech start-up Valor set to launch in US for Latino and Hispanic communities
The company was founded by WePay alumni Parag Gupta (CEO) and Sankate Sharma (CTO).
MoneyGram sued by CFPB and NYAG for allegedly “leaving families high and dry”
MoneyGram responded to the “baseless claims”, adding it is “fully prepared to vigorously defend itself”.
US fintech Bond teams up with Evolve Bank & Trust for BaaS offering
The partnership will offer new debit and credit card capabilities for businesses and consumers.
US financial services super-app Multicent gears up for launch
Multicent will offer personal and business accounts, a crypto exchange and merchant services.
FinTech Futures: Top five stories of the week – 22 April 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Alkami tapped by ORNL Federal Credit Union for digital banking upgrade
The Alkami Platform will power ORNL FCU’s growing digital offering, with new services set to be rolled out.
ICYMI fintech funding round-up: Union54, Themis & Sawa
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Osterman research report: privacy compliance in the US, status and progress in 2022
The emergence of new privacy regulations in the US and recommendations for the next wave of compliance.
Investment management platform FundGuard lands $40m Series B
The round saw participation from Citi, State Street, Blumberg Capital, LionBird Ventures and Team8 Capital.
Trading app Robinhood plots global expansion with acquisition of UK crypto firm Ziglu
Robinhood says the deal forms part of its mission to “democratise finance”.
BaaS platform NovoPayment lands $19m Series A funding
The round was led by Fuel Venture Capital and IDC Ventures.
Brex acquires bookkeeping software firm Pry Financials for $90m
Pry CEO Andy Su says: “With Brex’s scale and reach, we can have a much bigger impact right away.”
MSU Federal Credit Union taps Nymbus to launch new digital brand for alumni
New digital brand AlumniFi is targeted at Michigan-based alumni.
Immigrant-focused fintech Welcome Tech raises $30m
The new funding brings the firm’s total capital raised to date to $70 million.
Stripe appoints Microsoft’s James Phillips as new president of financial services
James Phillips joins Stripe after a decade at Microsoft.
FinTech Futures: Top five stories of the week – 15 April 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
ICYMI fintech funding round-up: Winden, EximPe, Uplinq, ImaliPay & SwooshTransfer
Our weekly fintech round-up for you to get the latest funding news from around the world.
Crypto paytech MoonPay receives $87m from entertainment and sporting stars
MoonPay CEO says: “Web3 is radically changing the way we approach the business of entertainment, sports and music.”
Microsoft teams up with Finastra to offer SME lending through Dynamics 365
Microsoft says the partnership will drive value for SMEs, “the backbone of job creation in the world’s economy”.
Lea County State Bank taps Jack Henry for digital transformation
Jack Henry says its digital solutions will allow the firm to compete with large banks and fintechs.
Circle lands $400m funding round featuring BlackRock, Fidelity
The funding round is expected to close in the second quarter of 2022.
Capital on Tap scores $200m funding facility to drive US growth
The firm launched its US credit card in March 2021 and has an office in Atlanta.
Form3 partners Goldman Sachs TxB to launch FX solution
Form3 CEO says the partnership with Goldman Sachs TxB forms part of the company’s growth strategy.
Creator economy e-commerce platform SamCart raises $82m Series B
The round saw participation from Eldridge, TTV Capital, Fin VC, George Kaiser Foundation and eGateway Capital.
Stripe-backed one-click checkout fintech Fast folds
Fast CEO Domm Holland says: “Sometimes trailblazers don’t make it all the way to the mountain top.”
Binance.US lands $200m in first funding round at $4.5bn valuation
The digital asset exchange will use some of the new funds on developing new products and services.
