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

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.

5 hours

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

Company update/payments

Spendesk embeds with Adyen

Adyen, the financial technology platform of choice for leading businesses, has today announced its long-term strategic partnership with Spendesk, the complete spend management platform for medium-sized businesses.

21 November 2024

Company update/payments

Mastercard collaborates with eNovate on Card-as-a-Service proposition in Egypt

eNovate, formerly eCards, a subsidiary of eFinance Investment Group, has joined forces with Mastercard to bring Card-as-a-Service (CaaS) solution to the Egyptian market.

18 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

Company update/people

Monument Technology grows leadership team

Monument Technology, the cloud based, end-to-end Banking-Platform-as-a-Service (BPaaS) provider, is pleased to announce the appointments of Diptesh Mishra as Chief Technology Officer (CTO) and Nick Lawler as Chief Commercial Officer (CCO).

06 November 2024

Company update/retail

Audax Financial Technology and Jeel forge BaaS partnership

Jeel, the digital innovation arm of Riyad Bank, and audax Financial Technology (“audax”), a comprehensive digital banking technology solutions provider backed by Standard Chartered, have entered into a strategic partnership aimed at revolutionising the digital banking landscape in Saudi Arabia.

06 November 2024

Top 10 Klarna stories for 10 years of Klarna

Long read/Banking-as-a-service

Níamh Curran Senior Reporter at Finextra

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

Company update/payments

CardFlight secures WestView Capital Partners inestment

CardFlight (or the “Company”), a leading SaaS payment technology company, announced today that it has received a significant minority investment from WestView Capital Partners (“WestView”), a Boston-based growth equity firm focused on partnering with middle-market companies.

22 October 2024

Company update/payments

Kotapay unveils BaaS platform

Kotapay, a division of First International Bank & Trust (FIBT), today announces the launch of Kavinu, a direct-to-bank banking-as-a-service (BaaS) platform.

22 October 2024

Company update/payments

Zenus bank taps Tuum for Banking-as-a-Service platform

Tuum, a next-generation core banking provider, is proud to announce that Zenus Bank has successfully gone live with Tuum’s Accounts and Payments modules integrated seamlessly with their proprietary technology and existing vendors.

16 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

Company update/security