Tagged: banking

March 10, 2025 @ 10:40 pm By Tony Zerucha  |  

A new report from Strata Decision Technology finds financial institutions nationwide are preparing to navigate significant economic uncertainties and mounting competition from non-traditional, digitally based competitors and industry consolidation throughout 2025. The 2025 CFO Outlook for Financial Institutions report combines industry analysts’ projections with Strata’s independent research. The… Read More

March 10, 2025 @ 8:49 am By Omar Faridi  |  

The number of Trojan banker attacks on smartphones surged by 196% in 2024 compared to the previous year, according to a Kaspersky report. Cybercriminals are shifting tactics, relying on “mass malware distribution to steal banking credentials.” Over the past year, Kaspersky detected more than “33.3… Read More

March 9, 2025 @ 4:38 pm By Omar Faridi  |  

The Office of the Comptroller of the Currency (OCC) took action to affirm that a range of cryptocurrency activities are permissible in the federal banking system. The previous administration had sought to deter regulated banks to participate in crypto affiliated activities. The OCC published Interpretive… Read More

March 9, 2025 @ 1:33 pm By Tony Zerucha  |  

Fintel Connect’s new report 2025 Cost-Per-Acquisition Benchmarking Guide For Financial Services: How to Drive Growth and Optimize Spend analyzes the different parts of a financial institution’s cost-per-acquisition strategy (CPA) while providing tips for maximizing value. An important consideration is ensuring you compare apples to apples;… Read More

March 8, 2025 @ 4:16 pm By Omar Faridi  |  

Tuum, a core banking provider, is pleased to announce its new status as a Mastercard Digital Activity Service Provider (DASP), which will reportedly enable seamless integration with the Mastercard Digital Enablement Service (MDES). This latest partnership announced by Fintech firm Tuum aims to empower both… Read More

March 7, 2025 @ 8:22 am By JD Alois  |  

  Multiple High Street banks recently experienced App outages impacting customer usage of their services. Making matters worse, the Parliament Treasury Committee issued a report sharing that: “Nine of the top banks and building societies operating in the UK accumulated at least 803 hours, the… Read More

March 6, 2025 @ 2:46 pm By JD Alois  |  

The UK Parliament Treasury Committee has issued a statement on the unfortunate occurrences of bank App outages. In early February, the Treasury Committee sent letters to nine bank CEOs demanding information on the size of the problem. At that time, the Committee noted that as… Read More

March 6, 2025 @ 6:47 am By JD Alois  |  

Zopa Bank has hired a former Visa executive as its new Chief Analytics Officer (CAO) Jeremy Penzer was previously Head of Data Science for Europe with Visa. Before that, he served as Capital One Europe’s Chief Analytics Officer and an academic statistician at the London… Read More

March 4, 2025 @ 11:36 am By JD Alois  |  

Digital banking enabler myTU says it has raised €10 Million in an oversubscribed Series A funding round. The Fintech said its original target had been €9 million. myTU raised money at a pre-money valuation of €35 million. The funding round was backed by existing investors… Read More

February 28, 2025 @ 9:45 am By JD Alois  |  

It has been widely reported that multiple bank apps were not accessible by consumers. These include the Bank of Scotland, Lloyds, TSB, and Halifax Bank—all of which fall under the Lloyds Banking Group. Reportedly, Nationwide Building Society was also impacted. The issue is now apparently… Read More

February 23, 2025 @ 7:54 pm By Omar Faridi  |  

Nu Holdings Ltd. (NYSE: NU), one of the largest digital financial services platforms, released its Fourth Quarter and Full Year 2024 financial results. Financial results are presented in accordance with International Financial Reporting Standards (IFRS). David Vélez, founder and CEO of Nubank said: “2024 was… Read More

February 23, 2025 @ 7:48 pm By Omar Faridi  |  

Taurus SA, a global enabler of digital asset infrastructure, is announcing the publication of an open-source confidential token standard for debt and equity tokenization in collaboration with the Aztec Foundation. This initiative marks a step forward in enabling FIs to issue tokenized versions of financial… Read More

February 23, 2025 @ 5:17 pm By Omar Faridi  |  

The UK’s Competition and Markets Authority (CMA) has imposed a hefty £104.5 million fine on four global banking giants—Citi, HSBC, Morgan Stanley, and the Royal Bank of Canada (RBC)—for “illegally” sharing sensitive details regarding UK government bonds, known as gilts, between 2009 and 2013. Unveiled… Read More

February 19, 2025 @ 12:51 pm By Omar Faridi  |  

Software as a Service (SaaS) cloud banking platform Mambu announces a partnership with Ibercaja Banco, one of Spain’s financial institutions, to launch a consumer finance entity in early 2025. The partnership underscores Mambu’s expertise in enabling incumbent banks to develop consumer-focused solutions “with speed, agility and innovation… Read More

February 19, 2025 @ 8:22 am By Omar Faridi  |  

Bluefin reports that it has achieved the German Banking Industry Committee’s (GBIC German: Deutsche Kreditwirtschaft) Girocard certification on the Newland NPT N950 AIO smartPOS terminal. This certification reportedly enables German merchants to adopt SmartPOS devices while “simplifying Girocard payment acceptance through Bluefin’s TECS Engine, a… Read More

February 17, 2025 @ 5:02 pm By JD Alois  |  

Varo Money, a federally chartered digital bank, is raising growth capital. According to a Form D filed with the Securities and Exchange Commission, Varo is seeking $55 million. As of the date of the filing, Varo has raised almost $29 million with around $26 million… Read More

February 13, 2025 @ 12:40 pm By JD Alois  |  

Zeta, a banking tech platform, is sharing a new valuation for $50 million in funding. Zeta says pre-money valuation hit $2 billion compared to their prior valuation fo $1.15 billion at their last priced round. The prior round in 2021 was led by Soft Bank, but… Read More

February 12, 2025 @ 11:00 pm By Omar Faridi  |  

nCino, Inc. (NASDAQ: NCNO), the provider of intelligent, best-in-class banking solutions, announced the acquisition of Sandbox Banking, a digital transformation enabler serving the financial services industry. This acquisition strengthens nCino’s ability to enhance data connectivity and streamline operations for banks and credit unions via an… Read More

February 12, 2025 @ 10:01 am By JD Alois  |  

Private credit and non-bank lending have been increasing for years now. A recent report indicates that “dry powder” has reached $159.38 billion in the US – the largest amount ever. Historically, it has been the banks that provided loans for businesses and consumers. Still, the… Read More

February 11, 2025 @ 11:19 pm By Omar Faridi  |  

Temenos AG (SIX: TEMN), the banking software company, announces it has signed an agreement to sell Multifonds, its fund administration software business, to Montagu Private Equity, a European private equity firm, for a total Enterprise Value of about USD 400 million including an earnout. The… Read More