US fintech Alpaca to acquire WealthKernel
US fintech Alpaca is to acquire the UK’s WealthKernel, a provider of digital investment infrastructure and tax-advantaged products for businesses.
Bank of America originations down 11.8% to $6B
Bank of America’s auto originations fell in the second quarter, while the bank’s dealership financing portfolio grew. Originations totaled $6…
BaaS startup Connect Money raises $8 million
Egyptian Banking-as-a-Service startup Connect Money has closed an $8 million seed funding round led by Disruptech Ventures and Algebra Ventures.
New York fast-tracks abusive lending regulation (Under the Hood)
A New York bill that expands the state attorney general’s power to legally pursue predatory lenders landed on Gov. Kathy…
Shawbrook targets SMEs with Playter acquisition
UK-based challenger bank Shawbrook is set to expand its offering after acquiring online SME financing platform Playter.
Brokerage-as-a-service platform lemon.markets goes live
Berlin-based brokerage-as-a-service platform lemon.markets has gone live in cooperation with Deutsche Bank, BNP Paribas, and Tradegate.
Goldman Sachs names AWS exec Argenti tech chief
Goldman Sachs has hired Amazon Web Services executive Marco Argenti to replace departing co-chief information officer Elisha Wiesel, according to the Financial Times.
COMMENTARY: Today I hate my job — post-repossession Article 9 letters
I don’t mean to alarm anyone with the title. Then again, maybe I do. The truth is I’m discouraged, and today I hate my job. Why? Because it happened again. A dealer reached out because they’ve been hit with a … [Read More]
PPRO buys Alpha Fintech for payments orchestration play
UK cross-border e-payments firm PPRO has boosted its presence in Asia Pacific through the acquisition of Alpha Fintech. Financial terms of the deal were not disclosed.
A university professor’s dive into auto loan data
An episode of dealership reality show “King of Cars” spurred Rice University finance professor James Watson to spend five years…
Airwallex buys OpenPay to take on Stripe Billing
Business payments outfit Airwallex is pitching itself directly against Stripe Billing through the acquisition of billing platform OpenPay. Financial terms of the deal were not disclosed.
ASX turns to Tata to replace Chess system
The Australian Securities Exchange (ASX) is planning to turn to a third party to replace its ageing clearing and settlement system.
Manheim Used Vehicle Index falls 12.1%
Wholesale used-vehicle values declined month over month and year over year in May, but used-vehicle sales inched up sequentially. …
Microsoft and Nexi collaborate to innovate across the European payments landscape
Nexi has announced a strategic partnership with Microsoft to digitise payments solutions and secure cloud-based infrastructures across the European market.
Agora Data reinforces team again by adding Chernek
The past 45 days have been quite active for Agora Data, a fintech company specializing in delivering technology, capital and guidance with predictable contract performance and analytics tailored for the subprime automotive sector. During that span, the company gained $400 … [Read More]