Business
Canadian data aggregator Flinks lands $11.8m led by NAventures
Flinks, a Canadian fintech which provides data aggregation services, has landed CAD 16 million ($11.8 million) in a Series A round. NAventures, the corporate venture capital arm of National Bank of Canada, led the round. “One area of expansion will.
Commerzbank plans 10,000 job cuts as CEO and chairman step down
Commerzbank is planning a wholesale shakeup of its internal structure cutting 10,000 of its 40,000-strong workforce. Shareholders are now calling for calm at the bank The news follows CEO Martin Zielke and chairman Stefan Schmittmann stepping down from their roles.
German business banking start-up Penta tops up Series B by €4m
Penta, an online banking service for German and Italian businesses, has landed €4 million from new investors. Among the new backers is S7V, which has also invested in Spanish neobank Bnext and consumer credit service Addi in the last year..
Mastercard invests in long-term fintech partner Verestro
Mastercard has invested an undisclosed amount in Polish fintech Verestro, formerly called uPaid. The start-up is headquartered in Warsaw with offices in Sofia, NewYork and Sao Paulo. The fintech has worked with Mastercard since 2011, providing payment solutions to banks, merchants and payment providers in.
Instapay Technologies partners with Mastercard to support Malaysian migrant workers
Malaysian fintech Instapay Technologies has signed a partnership with Mastercard to offer electronic wallet accounts to migrant workers. Instapay is aiming for 100,000 customers in its first year Using Instapay Accounts linked to Mastercard, employers will be able to pay.
Starling Bank launches two new paid business accounts
Starling Bank has launched two new subscription accounts for UK business owners. One offers a “digital banking toolkit”, whilst the other allows users to hold an account in US dollars. The new account offerings cost £7 and £5 respectively The.
SoftBank splashes $130m in Indian insurtech PolicyBazaar
SoftBank’s Vision Fund has reportedly bought an additional stake worth $130 million in the owner of Indian insurance marketplace, PolicyBazaar. Times of India reported the deal based on three sources who said the new investment would give SoftBank a more.
National Bank of Pakistan modernises pool management
National Bank of Pakistan (NBP) has upgraded its pool management system with ten-year-long partner Codebase Technologies (CBT). NBP is a Pakistani government-owned commercial bank and a subsidiary of State Bank of Pakistan (SBP). It holds roughly $17.2 billion in assets..
Aldi Nord switches card acquiring to Fiserv in five days
Aldi Nord, the northern European operations of the groceries retailer, has shifted the processing of its in-store card payments to Fiserv. Fiserv has been an Aldi partner for 15 years Aldi Nord operates 2,500 locations in Germany. It also has.
South Korea reports 20m subscriptions to open banking service
South Korea’s financial regulator has reported that 20 million people are using its open banking services. 70% of South Koreans are using open banking services Open banking services launched in the country back in December 2019. So far, 72 companies.