Funding Secured: Monese and its Platform-as-a-Service (PaaS) subsidiary XYB have secured fresh funding. Amount and Investors: The exact amount raised and the identity of investors have not been disclosed. XYB specifically raised capital from both existing and new investors. Financial Situation: Monese had announced a £30.5 million loss for 2022 at the beginning of the year, indicating a need for new funding. Planned Division: The company confirmed its intention to split from XYB late last month. The split does not yet have a definitive timeline. Separate Businesses: Post-separation, Monese a ..read more

Partnership Overview: Nottingham Building Society, also known as The Nottingham, has partnered with California-based credit infrastructure and analytics firm Nova Credit. Objective: The collaboration aims to enable foreign nationals in the UK to access and utilize their overseas credit history when applying for mortgages. Target Population: The initiative primarily targets foreign nationals entering the UK on Health and Social Care Worker or Skilled Worker visas. Solution Utilized: Nottingham has selected Nova Credit’s cross-border credit solution, Credit Passport, which translates internati ..read more

I finally received the rabbit r1 (the company insists on this lowercase styling) I’ve been writing about since its debut at CES in January. And I was able to tell within about 30 seconds of turning it on that it was shipped a couple months too soon — but honestly … that’s fine? This AI gadget is weird, relatively cheap, and obviously an experiment. To me, that’s something we should be rallying behind, not dunking on. The actual issues with the r1 are obvious: It doesn’t have enough app integrations, and it “could just be an app.” As to the first problem, well, it’s completely true at present ..read more

Partnership Overview: Libro Credit Union in Canada is transitioning its multiple legacy systems and lending operations onto nCino’s cloud banking platform. Libro’s Profile: Libro is one of the largest credit unions in Ontario, serving 117,000 owners, employing 800 staff, and operating 34 branches across the province. Integration Benefits: The partnership aims to provide Libro with an integrated system acting as a single source of truth, enhancing transparency across the loan process. Platform Features: nCino’s Software-as-a-Service (SaaS) platform supports loan origination, customer onboardi ..read more

Additional $100 Million Penalty: JP Morgan Chase is set to pay an additional $100 million penalty to an unnamed US regulator over alleged data deficiencies in its trade surveillance program. Background: Previously, in March, the bank was fined $348 million following an investigation by the Office of the Comptroller of the Currency (OCC) and the US Federal Reserve Board (FRB), which revealed failures in surveilling billions of instances of trading activity across 30 global trading venues. Expected Resolution: According to the bank’s latest quarterly report filed with the Securities and Exchan ..read more

Appointment of Brian Schwieger as Chairman: Globacap, a private capital platform, has appointed Brian Schwieger, an industry veteran, as its new Chairman. Expectations: Schwieger is expected to assist Globacap in accelerating its scaling journey. CEO’s Statement: Myles Milston, Globacap’s co-founder and CEO, notes that bringing in an external chairman will bolster the board and provide valuable advice and oversight for driving the business forward. Schwieger’s Expertise: With over 30 years of capital markets and investment banking experience, Schwieger’s expertise is seen as a significant as ..read more

Appointment of David Larson as CFO: Feedzai has appointed David Larson, a former Thomson Reuters executive, as its new Chief Financial Officer (CFO). Responsibilities: Larson will oversee Feedzai’s global financial actions and report directly to CEO and founder, Nuno Sebastião. Value of Larson’s Experience: Feedzai highlights Larson’s track record and deep understanding of operational dynamics within larger corporations, emphasizing his potential to contribute to the firm’s scaling efforts. Expertise in Mergers and Acquisitions (M&A): Larson’s expertise in M&A is considered pivotal t ..read more

BNI Madagascar’s Digital Modernization Journey: BNI Madagascar, headquartered in Antananarivo, is undergoing a digital modernization journey to enhance services for SME clients and retail customers across Madagascar’s 23 regions. Selection of Orion Innovation: BNI Madagascar has chosen US-based Orion Innovation to lead the implementation of Temenos’ cloud-based core banking platform as part of its digital transformation initiative. Utilization of Temenos Platform: The bank intends to leverage Temenos’ platform to modernize its operations, product portfolio, and offer personalized, digital-fi ..read more

A controversial push by European Union lawmakers to legally require messaging platforms to scan citizens’ private communications for child sexual abuse material (CSAM) could lead to millions of false positives per day, hundreds of security and privacy experts warned in an open letter Thursday. Concern over the EU proposal has been building since the Commission proposed the CSAM-scanning plan two years ago — with independent experts, lawmakers across the European Parliament and even the bloc’s own Data Protection Supervisor among those sounding the alarm. The EU proposal would not only re ..read more

Securitize Funding Round: Securitize, a US-based firm specializing in asset tokenization and traditional securities, has successfully completed a $47 million funding round. Lead Investor: The funding round was spearheaded by global asset manager BlackRock, with participation from ParaFi Capital, Tradeweb Markets, Hamilton Lane, and other backers including Aptos Labs, Circle, and Paxos. Usage of Funds: Securitize plans to utilize the investment to fund product development, extend its global footprint, and strengthen partnerships across the financial services ecosystem. Board Addition: As part ..read more