Latest Banking-as-a-service News: Finextra Research

NextGen Nordics 2025 agenda to cover DORA, VoP, CBDC, instant payments, fraud, and GenAI

Give the future of payments the green light at the Münchenbryggeriet in Stockholm, Sweden on 29 April 2025 where the stage will be set for a transformative shift in financial services. NextGen Nordics will gather core decision-makers, stakeholders, and experts within the payments sector to focus on digital resilience, advanced technologies, regulatory frameworks, and set a course of action for the financial ecosystem of tomorrow.

13 February 2025

News/payments

Rapyd in talks over $300m raise at big valuation cut

Payments-as-a-Service platform Rapyd is in talks to raise $300 million at less than half the valuation it secured in a 2021 funding round, according to Bloomberg.

10 February 2025

News/people

Lunar hires Nanna Bergmann to lead BaaS spinoff

Nordic challenger Lunar has appointed The Bank of London's Nanna Bergmann to lead Moonrise, its newly established standalone Banking-as-a-Service entity.

05 February 2025

News/retail

Solaris clinches €140 million funding round

German Banking-as-a-Service platform Solaris has secured a €140 million financing round.

03 February 2025

News/retail

Embedded banking startup Swan raises €44 million

French banking-as-a-service platform Swan has raised a further €44 million to support its EU expansion and product diversity strategy.

30 January 2025

News/crime

American Express pays $230 million for alleged deceptive sales

American Express has agreed to pay $230 million to settle charges for alleged deceptive sales of credit card and wire transfer products to small business customers.

17 January 2025

News/retail

SBI set to take majority stake in Solaris

Japanese financial conglomerate SBI has agreed to pay €100 million for a stake of more than 70% in struggling German Banking-as-a-Service platform Solaris, according to Bloomberg.

07 January 2025

News/retail

Railsr and Equals Group set for £283m merger

The long-trailed merger of embedded banking platform Railsr and payments firm Equals Group is set to go ahead through a £283 million takeover deal.

12 December 2024

News/payments

Lunar creates standalone enterprise payments business

Nordic challenger bank Lunar is stepping up its BaaS efforts, shifting its banking services division into a new standalone entity called Moonrise.

09 December 2024

News/retail

Synapse fallout: partner banks face lawsuit

The fallout from the collapse of Synapse continues, with several partner banks facing a lawsuit alleging mishandling of customer funds, and one of those banks insisting that end user funds it once held were moved by the BaaS platform before it went bankrupt.

28 November 2024

News/retail

Troubled fintech Solaris in search of fresh funding

German banking-as-a-Service platform Solaris is reportedly seeking an emergency cash injection of £100 million and will put the business up for sale if it fails to raise fresh funds.

27 November 2024

News/crime

Finastra investigates data breach, prioritising customer communication

Fintech firm Finastra has shared further detail on the investigation process following a data breach that occurred earlier this month.

21 November 2024

News/inclusion

Sunshine+Kittens is set on revolutionising financial education for kids

Finextra spoke to co-founder Charles O’Neil and CMO Dan Walsh, of new financial literacy app, Sunshine+Kittens, which is set to launch early next year.

14 November 2024

News/payments

Morgan Stanley invests $20m in NovoPayment

Morgan Stanley Expansion Capital has invested $20 million in embedded financial and payment infrastructure service provider NovoPayment.

14 November 2024

News/retail

Solaris offloads Engage business in the UK to Suits Me

German Banking-as-a-Service company Solaris has sold its Engage business from Contis to UK alternative banking provider Suits Me.

11 November 2024

News/cloud

Standard Bank picks Volante for Africa-wide payments overhaul

African giant Standard Bank is moving its payments infrastructure to Volante's cloud Payments-as-a-Service (PaaS), accelerating ISO 20022 adoption on the continent.

29 October 2024

News/cloud

Green Dot launches embedded finance brand

Digital bank and fintech provider Green Dot has launched an embedded finance brand and platform of services.

23 October 2024

News/people

Solaris to lay off a third of workforce

German Banking-as-a-Service company Solaris is set to lay off a third of its workforce with the majority of job losses hitting its British subsidiary Contis.

15 October 2024