Stay up to date with the latest news from fintech! This week, we bring you updates on tech launches, cybersecurity, new entries, acquisitions, and more. Enjoy reading!
Fintech giant Revolut appoints new UK boss amid struggles to get banking license (CNBC)
European fintech firm Revolut on Thursday said it appointed former Barclays executive Francesca Carlesi as its new U.K. CEO. Carlesi, who also worked at Deutsche Bank and has 15 years of experience in financial services, was most recently CEO of digital mortgage lender Molo Finance. A spokesperson for Revolut told CNBC that the move was not linked to its application for a banking license. Read more
EPI successfully completes acquisition of iDEAL and Payconiq (Payments, Cards and Mobile)
The European Payments Initiative (EPI) has announced the successful closure of the acquisition of the Dutch payment solution iDEAL and the Luxembourg technology provider Payconiq International as announced earlier this year.This marks a significant milestone for EPI’s strategy to deliver a unified instant payment scheme and platform for Europe. The completion of these acquisitions further supports its ambition to become a leading player in the European payments landscape, an ambition that has been hampered by arguments and delay. Read more
HubSpot picks up B2B data provider Clearbit to enhance its AI platform (Tech Crunch)
HubSpot, the Boston-based marketing software maker and CRM platform, announced today it’s acquiring the B2B data provider Clearbit to enhance its platform with third-party company data spanning millions of businesses. The deal also brings Clearbit’s over 400,0000 users and 1,500+ business customers to HubSpot and will eventually see the two platforms combine in order to provide HubSpot’s customer base with expanded data plus actionable insights. Read more
Google launches generative AI tools for product imagery to US advertisers and merchants (Tech Crunch)
Following Amazon’s adoption of generative AI for advertisers last week, Google today is launching a set of generative AI product imagery tools for advertisers in the U.S. Via the new, AI-powered Product Studio, merchants and advertisers will be able to leverage text-to-image AI capabilities to create new product imagery for free, simply by typing in a prompt of the image they want to use. Read more
Housing.com makes strategic investment in fintech lending start-up Easiloan (The Hindu Business Line)
Real estate platform Housing.com on Thursday announced a strategic investment in Easiloan, a fintech start-up focussed on digitising home loan offerings, for an undisclosed amount. The investment is seen as a step ahead towards Housing.com’s plans to be among the digital home loan origination platform. Established in 2021 by Pramod Kathuria, Easiloan is a digital home loan marketplace offering personalised, end-to-end home loan solutions through collaborations with over 20 banks across India. Read more
Zurich Insurance bets on India with $487m stake in Kotak arm (Reuters)
Zurich Insurance Group (ZURN.S) will buy a 51% stake in Kotak Mahindra Bank’s (KTKM.NS) general insurance arm for about 40.51 billion rupees ($487 million), giving the European insurance giant a foothold in India’s fast-growing insurance market. The news, which was confirmed by the companies on Thursday and Reuters first reported in June, will be the largest investment by a global insurer in an Indian non-life insurer. It boosted Kotak shares as much as 2% to 1,758.65 rupees. Read more
Mollie secures a Payment Institution licence in the UK from the FCA (The Paypers)
Netherlands-based payment service provider Mollie has secured a Payment Institution licence in the UK, from the Financial Conduct Authority. Following this announcement, Mollie is set to focus on merchant expansion and the process of developing and launching new services and products. In addition, the UK licence will validate the company’s capabilities to operate as a dual-licensed financial services firm, across multiple geographic areas and markets across the globe. Read more
Adyen partners with Plaid to offer Pay-by-Bank services in North America (Fintech Finance News)
Adyen, the global financial technology platform of choice for leading businesses, is pleased to announce its Pay-by-Bank services in North America will launch in early 2024 in partnership with Plaid, the digital finance innovator that makes it easy, safe and reliable for people to connect their financial data to apps and services. Building on Adyen’s historical investments in the region – which span a US Branch License and local tech hubs – as well as the platform’s burgeoning embedded financial services, this collaboration was designed to unlock the best enterprise payment solution of its kind. Read more
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