On 30 May, the Banking Tech Awards USA 2024 lit up New York City with a dazzling celebration of innovation, excellence, and technological advancements in the banking industry. Held at the illustrious 583 Park Avenue, the event brought together industry leaders, innovators, and visionaries for an unforgettable evening. The ceremony kicked off with an inspiring keynote address by Chad Porter, one of the most sought-after motivational speakers in the country. Porter captivated the audience with his powerful message about overcoming adversity and striving for excellence, setting a perfect tone for ..read more

CBC Bancorp, the Irvine, California-headquartered holding company for Commercial Bank of California (CBC), has reached an agreement to acquire Bay Community Bancorp, the holding company for Oakland-based Community Bank of the Bay (CBB). Bay Community Bancorp is the holding company for Community Bank of the Bay The transaction will see CBC Bancorp purchase Bay Community Bancorp in an all-cash deal valued at $14 per common share, equating to roughly $122 million in total. CBC Bancorp indicates that the combined entity formed from the merger of the Californian organisations will manage ass ..read more

Here’s our pick of five of the top news stories from the world of finance and tech this week, featuring HSBC, XYB, ABN Amro, Intelligent Money and more. Stephen Bird to exit Abrdn after four years as group CEO Stephen Bird resigns as Abrdn group CEO (Image: LinkedIn) UK asset management firm Abrdn has announced that its group CEO Stephen Bird is stepping down after four years in the role. Jason Windsor, who joined the firm in October last year as group CFO, is to step in as interim group CEO while a formal search process for a permanent replacement commences. Abrdn says Bird will work alongs ..read more

Amidst a backdrop of global challenges – ranging from high interest rates, inflation, and regional conflicts – fintech investors have grown more cautious. However, a new report by MD Finance shows that interest in quality companies with robust metrics is still alive and well. Global fintech is expected to rise going forward – why? After a few difficult years for fintech funding, analytics see the signs of growth in 2024. Indeed, with global fintech funding nosedived to $39.2 billion in 2023 according to the CB Insights’ State of Fintech Report. But the first quarter of 2024 saw a rebound with ..read more

The topic of artificial intelligence (AI) continues to dominate headlines and narratives throughout the world of fintech. Here, we recap five of the top AI stories from May, featuring Cube, M&T Bank, Duco, BBVA, Thomson Reuters, OpenAI and more. Franklin Templeton partners Microsoft to build “advanced financial AI platform” Franklin Templeton taps Microsoft Azure AI services Investment management firm Franklin Templeton is partnering with tech giant Microsoft as it looks to build and deliver an “advanced financial AI platform” for its employees and clients. With over $1.6 trillion in ass ..read more

May has seen a number of new payments innovations, ranging from new product launches to partnerships. Here, we run through five of the top payment stories of the month, featuring Banque Raiffeisen, HSBC, Bankart, Wink Pay, Visa and more. Banque Raiffeisen selects Worldline for cloud-based instant payments solution Banque Raiffeisen expands partnership with Worldline Banque Raiffeisen, the sole cooperative bank in Luxembourg, has tapped French paytech Worldline for its cloud-based instant payments processing solution. Under the agreement, which has made Banque Raiffeisen Worldline’s first Lux ..read more

Swedish climate tech start-up Doconomy has raised €34 million during a Series B funding round co-led by UBS Next, the venture and innovation division of UBS, and existing investor CommerzVentures. Doconomy secures €34m Series B round The round was also joined by previous backers Tenity, Motive Ventures and PostFinance, alongside new investor S&P Global, a New York-based impact data provider. Doconomy states the newly obtained funds will be utilised to fuel the company’s expansion in North America, drive “broader engagement and adoption of its tools”, and support the further development o ..read more

Coreless banking Platform-as-a-Service (PaaS) provider XYB has named former Alloy COO Derek Joyce as its new CEO, just less than a month after first revealing its intended split from parent company Monese. Derek Joyce joins XYB as new CEO (Image: LinkedIn) Leveraging over 20 years of fintech leadership experience for the likes of Bread Financial, Klarna and American Express, Joyce will now “spearhead XYB’s growth ambitions as it embarks on its mission to accelerate the world’s transition to accessible and innovative banking”, according to a company statement. It’s claimed he previously fille ..read more

From paytechs to digital banking apps, a number of new start-ups and innovative products have been launched in the fintech space this month. Here, we run through five of the top new launch stories of the month, featuring Fractal, FutureMoney, GoDutch, Thimsa, Lydia and more. New US paytech Fractal launches with aim to become “SaaS companies’ preferred payment method” Fractal launches payment service in the US Fractal, a new paytech firm catering exclusively to Software-as-a-Service (SaaS) enterprises, has made its debut in the US market, with ambitions to challenge payment sector giants. Fou ..read more

IPC, a US-based Software-as-a-Service (SaaS) trading communications platform, has named industry veteran Kurt Adams as its new CEO, succeeding Bob Santella following his six-year tenure in the role. Kurt Adams named new CEO of IPC (Image: LinkedIn) Adams brings over 25 years of leadership experience from the fintech sector to IPC. In his most recent roles, he acted as CEO of Optum Financial and CEO of corporate payments for Fleetcor Technologies, where he also held the position of group president. Prior to this, the incoming CEO served in a variety of leadership roles at the likes of Elavon ..read more