BankingTech
Starling Bank secures £50m investment from Goldman Sachs
Starling Bank has received a £50 million investment from Goldman Sachs Growth Equity.
The investment is an extension of Starling’s oversubscribed £272 million series D...
J.P. Morgan expands use of the Acin platform
J.P. Morgan is expanding its use of the Acin platform to cover its global markets business.
Acin, the software-as-a-service regtech company that has created a...
Banking tech provider NYMBUS launches dedicated business for credit unions
NYMBUS, a provider of core banking technology based in the US, has set up a new business to support credit unions with dedicated fintech...
Meniga closes €10 million funding round
Meniga, a provider of digital banking solutions for some of the world’s largest financial institutions, has closed a €10 million strategic investment round.
Velocity Capital...
Banking Circle moves infrastructure onto the cloud
Banking Circle, the financial infrastructure provider, is now completely cloud-based, with all aspects of its service hosted within Microsoft Azure.
This includes its purpose built,...
OakNorth Bank achieves pre-tax profit of £78 million
OakNorth Bank lent £1.1 billion last year and achieved a pre-tax profit of £78 million.
Since 2015, the bank has lent more than £5.1 billion,...
Railsbank launches in Australia, partners with Volt
Embedded finance provider Railsbank has launched in Australia via a partnership with the country’s first neobank, Volt.
Describing Australia as "a highly strategic market", the...
Planixs lands Santander in major liquidity management contract win
Planixs, the provider of real-time, intraday cash, collateral and liquidity management solutions, has landed a major client.
Santander, a global systemically important bank (GSIB), will...
Starling Bank lands £272m in funding, achieves £1.1b pre-money valuation
Starling has completed a £272 million series D funding round that gives the digital bank a pre-money valuation of £1.1 billion.
Fidelity Investments led the...
2021: the dawn of better business banking?
It was inspiring to see how small businesses responded to the new and changeable restrictions in place due to the coronavirus pandemic. They adapted...
BNY Mellon plans new solutions in digital assets and collateral management
BNY Mellon will develop new solutions and capabilities for digital assets and collateral management under plans announced this month.
The custody bank has launched a...
Monzo to raise £50 million in new funding
Monzo, the UK digital bank, is raising an additional £50 million through an extension of its series G funding round.
The equity funding is coming...
Minna Technologies raises €15.5 million for subscription management service
Subscription management company Minna Technologies plans to widen access to its open banking technology after securing €15.5 million in series B funding.
The series B...
Goldman Sachs chooses Marqeta’s card issuing platform for Marcus
Goldman Sachs will use Marqeta's card issuing platform to underpin its Marcus current accounts when they launch later this year.
Marcus, the global financial services...
NBX eyes banking licence after funding boost
The Norwegian Block Exchange (NBX) is on course to obtain a banking licence and become a preferred digital assets services provider in the Nordics...
Oxygen raises $17 million for digital banking platform
San Francisco-headquartered digital banking platform Oxygen plans to use the $17 million raised from its series A funding round to scale its team, accelerate...
Billhop partners with OmaSp to boost Finnish business cash flow
A new partnership between Billhop and Oma Säästöpankki Oyj (OmaSp) will help Finnish businesses improve their cash flow and close their liquidity gap.
Billhop, a...
Conio partners with Banca Generali to take cryptocurrency mainstream in Italy
Italian private bank Banca Generali is entering the cryptocurrency market through a new partnership with local fintech company Conio, a wallet provider offering bitcoin...
iZettle joins Starling Bank’s Business Marketplace
PayPal’s iZettle is the latest addition to Starling Bank's Business Marketplace.
Swedish mobile payments company iZettle, which joined PayPal for $2.2 billion in 2018, will...
Swedbank chooses Meniga to revamp digital banking for customers
Swedbank is using the services of fintech company Meniga to provide a new digital banking solution to customers in Sweden, Estonia, Lithuania and Latvia.
The...
Dreams partners with Ukrsibbank for digital personal finance tools
Sweden-headquartered Dreams, a provider of digital self-help tools for managing personal finances, is partnering with Ukrainian commercial bank Ukrsibbank.
Dreams is developing a proposition in...
Starling Bank eyes monthly profitability after breaking even
Starling Bank is now breaking even after reporting a trading update for the three months up to 31 October.
The digital bank has nearly 1.8...
Santander partners with Personetics to launch money management feature
Santander's investments in fintech companies through its dedicated venture capital arm are paying off with the launch of a money management feature built on...
Greenwood raises $3 million to launch digital bank for Black and Latinx communities
US-based challenger bank Greenwood has raised $3 million in seed funding from private investors to launch the first digital banking platform for Black and...
NEC to buy Avaloq for $2.2 billion
Japanese electronics conglomerate NEC has struck a deal to buy Switzerland-based Avaloq, a provider of digital banking solutions, core banking software and wealth management...
Raiffeisen Bank and Moxtra develop virtual branch service
Raiffeisen Bank International has launched a virtual branch service in partnership with US-based fintech company Moxtra.
RaiConnect features a full suite of collaborative modules and...
Backbase rolls out platform at TPBank
Netherlands-headquartered Backbase has deployed its digital-first banking platform at Vietnam’s Tien Phong Commercial Joint Stock Bank (TPBank).
The Backbase platform allows banks to design a...
Moov Financial raises 5.5 million in seed funding
Moov Financial, the US-based open source embedded banking platform, has raised $5.5 million in seed funding.
Led by Bain Capital Ventures, the funding round also...
OakNorth Bank receives new CBILS allocation
OakNorth Bank has approved more than £600 million in new loans to support British businesses since lockdown began in March.
The UK bank, which is...
Revolut and Starling Bank eye profitability despite losses
The UK's three major challenger fintech firms are yet to turn a profit, but two, Revolut and Starling, remain optimistic that they can overcome...
Quantum Group acquires mobile cashback app Tail
UK-based fintech incubator Quantum Group has acquired mobile cashback app Tail.
Quantum Group, which acquired 30% of Tail in 2019, completed its acquisition of the...
Google to launch US digital bank account with BBVA and others in 2021
Google has partnered with eight banks, including BBVA, to offer digital accounts to Google Pay users in the US.
The internet company revealed late last...
FinecoBank enjoys strong H1 2020 in UK
European fintech FinecoBank registered strong activity from its UK client base across its brokerage, investing and banking business during the first half of this...
What does the Wirecard scandal mean for the future of digital banking?
In the midst of the Covid-19 pandemic, right between the health crisis winding down and the fear of a second wave kicking up again,...
Opera to acquire Fjord Bank as fintech expansion continues
Norway-headquartered internet company Opera is moving into the banking space with the acquisition of Fjord Bank.
With a growing user base of more than 50...
ClearBank expands senior management team with two new hires
ClearBank, the cloud-based clearing bank, has appointed James Hopkinson as chief financial officer and Stuart Morley as chief information officer.
Hopkinson joined ClearBank earlier this...
Tide pauses BBLS lending
UK digital bank Tide has paused lending through the government's Bounce Back Loan Scheme (BBLS) after funding fell through.
In an open letter to customers,...
Incoming streaming fintech Wagestream raises £20 million
Wagestream, the fintech that enables employees to access their earned wages in real time, has completed a £20 million series B funding round.
The investment,...
Starling Bank beefs up business banking
Starling Bank is helping British entrepreneurs get back to business with the launch of a new digital banking toolkit and a US dollar account...
Mastercard signs up three fintechs to opening banking solution
Three fintechs have joined the Mastercard Open Banking Protect.
Aion, DiPocket and Modulr have all signed agreements to use the Protect solution, which is a...
Mastercard to acquire Finicity to advance open banking strategy
Mastercard has entered into an agreement to acquire Finicity, a North American provider of real-time access to financial data and insights, for $825 million.
The...
Credit Sesame acquires challenger bank for international expansion
US consumer credit and loan company Credit Sesame has completed its acquisition of Canadian challenger bank Stack.
The acquisition is the first step toward Credit...
Starling Bank boosts business offering with Slack, Bionic and Equipsme
Starling Bank has upgraded its app marketplace with three new integrations.
Workplace messaging platform Slack, energy switching service Bionic and health insurance provider Equipsme are...
Starling Bank secures £40 million in new funding
Starling Bank has raised £40 million in a funding round led by JTC and Merian Chrysalis Investment Company.
The investment from Starling’s existing investors follows...
Xinja slashes Stash rate to 1.8%
Australian neobank Xinja has slashed the interest rate on its new savings account to 1.8%.
The interest rate reduction on its Stash savings account follows...
OakNorth Bank ‘ready’ to lend through UK business interruption loan scheme
OakNorth Bank, the lender to growth small and medium-sized enterprises (SMEs) in the UK, is ready to begin lending through the Coronavirus Business Interruption...
India’s Paytm Payments Bank partners with Mastercard
India's Paytm Payments Bank has partnered with Mastercard for virtual and physical debit cards.
Virtual cards will initially be rolled out to beta customers. Paytm...
Starling Bank to begin lending through CBILS ‘as soon as possible’
Starling Bank is working closely with the British Business Bank to get lending through the UK government's Coronavirus Business Interruption Loan Scheme (CBILS) as...
Castle Trust lines up DPR as tech provider ahead of challenger bank launch
Castle Trust has signed up to use the savings origination and servicing platform of banking technology provider DPR, as the investment firm presses ahead...
OakNorth supports businesses in US and UK through lending ops and funding
OakNorth has partnered with New York City-headquartered Modern Bank to support US businesses during the coronavirus (Covid-19) pandemic.
Modern Bank will supply businesses of fewer...