ANNA Money has severed its ties with two Russian billionaires, who had indirectly become major shareholders in the fintech. Both billionaires (Mikhail Fridman and Petr Aven) are reportedly close to Russian leader Vladimir Putin and have been named among the Russian oligarchs covered by US and EU sanctions. Link here
Jack Henry & Associates is to acquire Payrailz, adding the company's next-generation digital payment capabilities, including real-time P2P payments, to Jack Henry's payments ecosystem. Link here
Founderpath recently secured $145 million in debt and equity financing to help B2B SaaS founders grow their businesses without diluting ownership. Link here.
Senator Elizabeth Warren proposes banning crypto from banks. Warren has sent her fellow senators a letter to persuade them to support her initiative to call for new regulations to withdraw authorizations for traditional financial services that provide crypto services. Link here
The first employee ofBitMEX pleaded guilty on Monday to violating U.S. bank secrecy laws. Prosecutors said that from 2015 to 2020, Dwyer and BitMEX founders willfully violated the federal Bank Secrecy Act by failing to adopt anti-money laundering. Link here
Central Bank of Honduras reaffirms position on digital assets as cryptocurrency grows in LatAm. The bank has warned Hondurans about the risks of digital assets based on their lack of legal backing in the country and high volatility. Link here
Coinbase shares dropped in extended trading after the crypto exchange reported a loss of over $1 billion in the second quarter and missed analysts' estimates for revenue. Link here
Platformable identified 1,578 banking platforms making APIs available (end of Q2 2022), representing an annual growth of 8%. These bank platforms made 5,564 open banking API products available to third parties, up from 4,831 in Q1 2022. Link here.
Things you probably didn’t know about Brazil’s fintech sector. In Brazil, change has been happening at a rapid pace. The adoption curve for smartphone-enabled digital services has been steep, and online banking is widely used now. Link here
Sesami become the worldwide leader of cash optimization solutions, with an unrivaled technology stack now up-scaled with the addition of plan focus cutting-edge cash optimization software. Link here
Klasha Inc appointed Ayman Jawhar as its CPO. Ayman will be based in the United Kingdom and joins Klasha with over 15 years of experience in product consultation, development, and management across renowned brands such as PayPal, Miro, Prodigy Finance, and Next47. Link here
Revolut’s US arm is switching its main cryptocurrency service prover, according to two sources familiar with the matter. Revolut is tapping Chicago-based Apex Crypto, the sources said, moving away from Paxos. Link here
Atom Bank is "going beyond" basic statutory regulatory requirements. Neobank Atom has committed to the Standards of Lending Practice for business customers as it seeks to protect SMEs and provide fairer outcomes for banking business customers. Link here
Lending-as-a-Service (LaaS) as the Future of FinTech. While financial services providers allow more companies to offer banking services easily, the industry points to lending as the new frontier in financial technology (FinTech). Link here
Nu Colombia obtained the license to establish a Financing Company. This milestone, which reinforces its long-term vision and commitment to the country, will allow it to expand its portfolio of savings products in the future. Link here
Al Sanam Islamic bank selected ICS BANKS Islamic Banking software solution from ICS Financial Systems (ICSFS), the global software and services provider for banks and financial institutions. Link here
Neobanks can become profitable despite the odds. These companies, which include SoFi and Qapital, are changing their business models and shifting away from a reliance on interchange fees. Link here
85% say they used at least one emerging digital payment method in the past year. An overwhelming 93% say they will likely use one of these methods in the next year. Link here
Western Union updated its partnership with Visa, expanding its integration with Visa Direct, Visa’s real-time money movement network, into Western Union’s United States network. Link here
Niyo announced the appointment of Kiran Kulkarni as its Head of Design.Before joining Niyo, Kiran was associated with Paypal as their Senior UX Manager. Link here
This ends Your Daily Fintech News. Let me know if there are any questions or comments. Until the next!
