Cash App’s parent company Square is now officially a bank

A year after receiving Federal Deposit Insurance Corp (FDIC) approval, Square Financial Services, Square’s state-chartered industrial bank has begun operations.

MoCaFi, Mastecard partner to bring alternative financial services to underserved communities

Mobility Capital Finance (MoCaFi), a mobile-first banking platform, has secured an investment from Mastercard, as well as the start of a new partnership with the payments giant.

Canadian FinTech Hardbacon secures $1.1m to scale up its personal finance software

Montreal-based AI and FinTech startup Hardbacon raised $1.1m in funding through equity crowdfunding platform FrontFundr.

Swiss online bank FlowBank launches app to ease financial investment

Geneva-based digital bank FlowBank has launched an app that connects users to the global financial markets with the aim to ease the investment process.

Millennials are better at saving money than baby boomers, data suggests

In a bid to be in control and manage their finances, almost one in three millennials use online tools to track spending and budget their finances, new study from Zip said.

Challenger bank aimed at Black Americans First Boulevard closes $5m seed round

First Boulevard, a challenger bank aim at Black Americans, has reportedly raised $5m in its seed round.

Challenger bank Stori raises $32m to boost Mexico’s digital financial services

Digital bank Stori closed a $32m Series B funding round to fuel the credit card payment industry for masses in Mexico.

Monument said to raise £28m as it sets its sights on its launch

Monument, a challenger bank aimed at the wealthy, has reportedly raised a £28m as it prepares for its launch later this year.

Backbase teams up with Zafin

Banking platform provider Backbase has inked a deal to incorporate Zafin’s relationship-based product and pricing capabilities into its Engagement Banking platform.

OakNorth Bank provides £4.4m coronavirus loan to Beulah Vista Caring Home

Challenger bank OakNorth Bank has completed a £4.4m Coronavirus Business Interruption Loan Scheme (CBILS) loan to complete the development of a care home.

News Stories

Apiax said to secure funding to support its move into Germany

Digital compliance platform Apiax has reportedly received an investment from the Futury Regio Growth Fund to help its move into Germany.

Temenos partners with Canadian Western Bank to offer SMEs AI-driven digital banking solution

Banking software company Temenos teamed up with Canadian Western Bank to support SMEs with financial decision-making and scaling their businesses.

Starling Bank achieves unicorn status after £270m funding round

UK-based challenger bank Starling Bank raised circa $270m in a Series D round led by Fidelity Management & Research taking its valuation to £1.1bn.

Digital engagement platform Flourish Savings said to close $1.5m

Flourish Savings, a digital engagement platform aimed at financial institutions, has reportedly raised $1.5m in a fresh funding round.

German InsurTech Hepster said to raise $10m Series A

Germany-based InsurTech Hepster has reportedly raised $10m in its Series A round, which was led by Element Ventures.

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