Australian fintech Afterpay has announced that it will be closing down its Money app in October just a year after launching, saying that the firm’s acquisition by Jack Dorsey’s Block “means our focus is shifting in a new direction”.

Neobanking industry has garnered significant attention as the concept has become popular, with the ease of access to online platforms. Unlike a traditional bank, neobanks operate only through virtual platforms and do not have any physical presence in the form of branches. 

Covr Financial Technologies (Covr) has launched Covr Pro (CovrPro.com), bringing its industry-leading digital insurance platform to independent financial advisors. Originally created for and trusted by 30,000 advisors at leading financial firms, this new offering will give independent financial advisors a simple, digital solution for life, long-term care, linked-benefit, and disability insurance.

Gate.io Group has announced the launch of its over-the-counter trading platform Gate OTC, which will provide fully-licensed OTC crypto trading services catered to institutions and high-net-worth individuals. Services are offered in various countries around the world, supporting several mainstream cryptocurrencies.

Bybit, the third most visited cryptocurrency exchange in the world, will list OKSE, the utility token of Okse Card and Okse Wallet, on Bybit Launchpad 2.0.

The operator of the Polish mobile payment system Blik is looking to expand internationally through the acquisition of Slovakian player Viamo.

Terms of the deal - which still require the approval of Slovakia's central bank - were not disclosed.

New research from international digital SME banking specialist, Pollinate,  reveals traditional banks’ servicing of SMEs does not correspond with the economic importance of this sector.

From talking to nearly 1,000 banking leaders around the world, Pollinate’s latest guide has plotted a path for how traditional banks can accelerate the pace of change by focussing on harnessing the power of data to become the single digital hub for SMEs.

Stubben Edge Group is pleased to announce the acquisition of Bonhill Groups Business Solutions & Governance (BSG) Division. The BSG Division holds several brands which will be key to Stubben Edge’s further growth and expanded capabilities for customers, brokers, and Independent Financial Advisers (IFAs).

Infront AS has entered into an agreement for the acquisition of Assetmax AG. The acquisition represents an important milestone for Infront as the company further strengthens its product offering for wealth management customers across Europe. The transaction is expected to be completed by the end of September at the latest, subject to customary conditions.

As financial markets soared in 2021, we saw a record number of IPOs and workforces surge in numbers. The big six U.S. banks for example added almost 60,000 employees – or the equivalent of Morgan Stanley's worldwide workforce. But the recent news of hiring and spending slowdowns has been well chronicled.