Raisin to Integrate with FIBT's BaaS Platform
Weekly news up to Monday, 16th of June 2025
👀 NEWS HIGHLIGHT
Kotapay, a division of First International Bank & Trust, has announced that Raisin will integrate with its new bank-direct BaaS platform, Kavinu.
Following this announcement, the integration will expand on FIBT’s existing partnership with the German-based FinTech company, which already included serving as the holder of Raisin customers’ cash accounts.
📊 INFOGRAPHIC
Nubank 🆚 Revolut
Two very different growth strategies👇
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🔦 DIGITAL BANKING HIGHLIGHTS
⭐️ Peymo Launches AI-Powered Digital Finance Platform.
⭐️ Kbank surpasses 14 million customers amid rapid growth.
⭐️ Mambu and Avenga power Marginalen Bank’s core banking transformation.
⭐️ Deutsche Bank and Ant International partner for global cross-border payments.
🌎 REGIONAL HIGHLIGHTS
UK 🇬🇧
UK finance watchdog teams up with Nvidia to let banks experiment with AI. The Financial Conduct Authority said it will launch a so-called Supercharged Sandbox that will “give firms access to better data, technical expertise and regulatory support to speed up innovation.”
Santander partners with Worldpay to support business banking and corporate customers. The partnership will offer Santander customers secure, scalable, and efficient merchant payment solutions. For business customers, a wide range of solutions will be available for all point-of-sale, e-commerce, and integrated payment needs.
Barclays to roll out Microsoft Co-Pilot to 100,000 staff. Microsoft 365 Copilot will be integrated into the bank’s staff productivity tool, creating a single agent for employee self-service, such as booking business travel, checking policy compliance, or finding answers to HR-related questions.
ANNA Money taps Episode Six to expand SME business debit card offering. The UK-based mobile business banking account selected Episode Six to deliver a more reliable, scalable, and configurable platform that supports growing product needs, global expansion, and seamless integration.
FlexiLoans raises Rs 375 Cr in Series C funding round. The new funding will be utilised to expand operations, fuel product development, and technology infrastructure. The fresh capital raise includes primary equity to support operational growth and secondary transactions to provide liquidity for existing investors.
Paragon Bank taps Moneyhub capabilities to address major UK savings challenges. By using Moneyhub’s open banking technology, Paragon can connect Spring with a customer’s existing current account. This integration enables customers to view their current account balance in the Spring app and easily move money between accounts, providing users with full control over their savings.
UK’s digital bank OakNorth lends $20m to JV between Sabal Investment Holdings and 12 North Capital. The $20m loan will fund the acquisition of a non-performing loan secured against three Class A purpose-built memory care facilities in Leesburg and Warrenton, Virginia, and San Antonio, Texas.
EUROPE 🇪🇺
Luxembourg left out of Revolut’s new payment rollout. The rollout will enable customers to send and receive money instantly via the Wero digital wallet. Wero will support mobile numbers from France, Germany, and Belgium, but the platform aims to expand its reach.
Revolut prepares an offensive in corporate banking for 2026. The 'neobank' will offer credit lines and loans, among other services. Between 2026 and 2027, it will bring the mortgage service to Spain. Meanwhile, Revolut eyes Israel expansion and is in talks with the Bank of Israel to acquire a “lean bank” licence in the country. The licence is a limited banking licence that allows non-bank entities to receive deposits and provide credit.
Revolut launches eSIMs and global data plans in Portugal. The eSIM allows customers to use the Revolut app without consuming their mobile data, facilitating access to all the app's products and features, even in places where there is no data coverage, highlights the FinTech.
Vivid reaches 50,000 business customers and is ambitiously expanding. New features will be rolled out in the current quarter to further round out its product portfolio. These include a card acquiring service that enables merchants and service providers to easily accept card payments.
USA 🇺🇸
Treasury Prime partners with People Trust to advance financial inclusion via embedded banking. This partnership includes the possibility for future use of Treasury Prime’s front-end solution to replace the institution’s legacy online banking interface, enhancing member experience and increasing operational efficiency.
Chime prices IPO at $27 per share to raise $864 million. The company had marketed the offering between $24 and $26 per share. The IPO values Chime at roughly $11.6 billion on a fully diluted basis. It generates the bulk of its revenue from interchange fees.
CANADA 🇨🇦
Wealthsimple takes on Big Six with launch of credit cards and loans. The company will replicate traditional retail banking services such as credit cards, loans, and even old-fashioned cheques, putting it in direct competition with other financial institutions beyond its core investing products.
ASIA
KAF Digital Bank goes live on Temenos SaaS to elevate Islamic digital banking in Malaysia. With Temenos SaaS, the bank is set to deliver innovative Shariah-compliant financial solutions that simplify financial management and enhance digital convenience with a cutting-edge, user-centric banking experience.
AFRICA
First Ally Capital acquires majority stake in Mines.io Nigeria, operating under the brand name Migo, a FinTech company. The acquisition aligns with First Ally’s strategic objective to drive the application of technology in the delivery of financial services to a larger proportion of the population.
MOVERS AND SHAKERS
Barclays set to cut 200 investment bank jobs in cost reduction plan. The UK bank is trying to up its competition with Wall Street giants. The bank is preparing to reduce headcount in the unit by around 3%, with cuts likely to impact its dealmaking, trading, and research arms.
NatWest appoints Dr Maja Pantic as the Bank’s First Chief AI Research Officer. Maja brings deep AI research expertise and is currently serving as Professor of Affective & Behavioural Computing at Imperial College London, having previously been Founding Research Director of Samsung AI Research Centre in Cambridge.
Varo Bank welcomes Rathi Murthy as Chief Technology Officer, strengthening its commitment to customer financial empowerment. Rathi’s appointment highlights Varo’s commitment to empowering more customers through the development and adoption of technologies such as AI to improve access to financial services, transform how the bank assesses credit risk, and combat fraud.