The issuer plans to attract more SMEs and younger consumers while upping its tech capabilities ahead of a credit card inflection point.
Senators eye Wells Fargo’s refinancing operations: Bloomberg found the bank approved just 47% of Black homeowners’ refinancing requests, adding to the debate on whether tech propagates discrimination.
Kyash’s haul bodes well for digital banking in Japan: Its ¥4.9B ($44.6M) fund raise from a Series D round is a sign of investors’ confidence in Japanese digital banking players.
Allica Bank gets to £1B for deposits: The UK challenger bank hit the milestone just two years following its rollout, affirming its diversification strategy is working.
Fintech offers collectible assets to Europe’s ordinary investors: The Konvi platform lets people invest in wine and watches—with plans for NFTs—capitalizing on expected global growth in the collectibles market.
Walgreens and other major brands joined Mastercard Installments, further sharpening Mastercard’s edge in the BNPL space.
Fully digitized corporate onboarding is a must: A PYMNTS report finding suggests that banks’ prolonged, manual-task-riddled onboarding processes present competitive vulnerabilities for customer acquisition.
Luno’s investing arm leaves stealth mode: Luno Expeditions targets early-stage fintechs and startups focused on crypto and web3, and its focuses put it in a good spot despite mixed investing climates.
Crypto infrastructure builder ConsenSys snagged $450M, reaching a $7B valuation.
Ruling narrows open banking’s UK potential: The Competition and Markets Authority’s (CMA’s) exclusion of e-commerce transactions from its open banking payments tech decision will help card issuers and neobanks dependent on interchange fees.
Moneyhub’s and Tink’s partnerships spotlight the growing demand for A2A payments ahead of planned card fee hikes.