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U.K.-based digital banking platform Monzo has raised $430 million (£340 million) in a round led by Alphabet-owned CapitalG. Also participating in the round, which was first rumored last week, were new investors, Google Ventures and HongShan Capital, along with existing contributors Passion Capital and Tencent. The new round boosts Monzo’s post-money valuation to $5 billion Read more…
We’ve entered the first full week of March. Layoff activity has cooled slightly (but has not stopped), and fintech news is heating up. Here’s your weekly news rundown. Check back for real-time updates on how the fintech landscape evolves this week. Payments Kiwibank goes live with ACI Worldwide’s Enterprise Payments Platform. Indian payments and API Read more…
It’s a leap year, which means we have an extra day in the month of February. How will the financial services industry Use the extra 24 hours this year? Check back for real-time updates on how the fintech landscape evolves this week. Traditional banking Legacy Bank & Trust reports it has doubled its assets after Read more…
Banking-as-a-Service institution Cross River Bank announced its parent company CRB Group has launched an investment banking division. Benjamin Samuels, who was formerly the Co-Head of Alternative Capital Solutions for Morgan Stanley’s Global Capital Markets Group; and Henry Pinnell, former Co-Head of Investment Banking from SVB Securities; have been tapped to lead the new investment banking Read more…
Singapore-based financial infrastructure platform Xalts announced this week it is buying Contour Network with an aim to enhance global trade finance. Financial terms of the deal were undisclosed. Contour Network was built in 2017 by a consortium of eight global banks to create an open trade finance network. Today, more than 22 banks and 100+ Read more…
The week begins with big news on the payment cards front as Capital One announces plans to acquire Discover Financial Services in an all-stock deal valued at $35 billion. Check out what else is going on in fintech and financial services in our latest fintech weekly news rundown! Embedded finance German embedded finance platform Monite Read more…
We’re starting off our Women in Fintech series this year with a conversation with Erin Wynn. As Executive Director of Product Management at NCR Voyix, Wynn helps both community banks and credit unions form strategies to implement their digital transformation and product roadmap initiatives. Wynn also works as a mentor and coach for the company’s Read more…
Blockchain and crypto solutions company Ripple announced its fourth acquisition today. The company bought Standard Custody & Trust Company for an undisclosed amount. Ripple said the move serves two purposes. First, it underscores the company’s “commitment to regulatory compliance,” and second, it will enable Ripple to strengthen its existing offerings and add new products to Read more…
Nordic Capital agreed this week to acquire a majority share in Canadian SaaS core modernization solution provider for FIs, Zafin. In a statement, Nordic Capital noted that the investment was made “in close partnership with Zafin’s founders and management, who will reinvest in the company alongside Nordic Capital.” Terms of the transaction were not disclosed. Read more…
We’re already well into the second month of 2024, and while funding has slowed down a bit, news in the decentralized finance world has picked up. Take a look at some of the top headlines in fintech and banking this week. Digital Banking Israel-based digital bank oneZero unveils its new GenAI-powered assistant, Ella. HighRadius acquires Read more…
In an exclusive announcement with CNBC, global financial services innovator Revolut revealed it plans to begin offering telecom services in the U.K. The move, which is made possible via a partnership with 1Global, will make Revolut one of the only fintechs to offer telecom services. Starting this week, Revolut will begin rolling out eSIMs, which Read more…
Trusted payments, identities, and data security company Entrust may be on the verge of acquiring identity verification (IDV) technology company Onfido. Entrust confirmed this week that it has entered “exclusive discussions” on the potential deal. The acquisition would add an AI/ML-based biometric and document IDV tech stack to Entrust’s current portfolio of identity solutions. Entrust Read more…