Use of payments firms has grown in recent years, but the FCA says it continues to see poor safeguarding practices from firms.

Funds held by payments and e-money firms are not directly protected by the Financial Services Compensation Scheme (FSCS). Instead, firms must safeguard funds which can mean customers lose money or experience delays to funds being returned if the firm fails.

Pismo, the global cloud-native core banking and cards platform, announced that Neeraj Kumar, based in the UK, will lead the enterprise architecture structure.

Kumar, who has more than 25 years of experience in IT strategy, architecture, and infrastructure, will help define Pismo's platform architecture roadmap to increase even more resilience, security, scalability, and performance.

Fibabanka, a leading player in Türkiye’s banking sector, has launched the country’s first Banking as a Service (BaaS) model through an innovative collaboration with GetirFinans, which received a total of $70 million in investment last year at a valuation of $250 million. This partnership, a significant step in Fibabanka’s broader strategy to expand its BaaS platform, provides non-banking businesses with the infrastructure to offer tailored financial services to their customers efficiently.

M-KOPA, a leading emerging market fintech, announced that it has surpassed 5 million customers across Kenya, Uganda, Nigeria, Ghana and South Africa. Two million of these customers have come onboard in the past 15 months.

Plinqit, an award-winning provider of high-yield and automated savings software solutions that enable financial institutions to grow deposits, attract new customers and expand their retail footprint, is proud to announce the promotion of Crystal Boyer to Chief Customer Officer (CCO). In her new role, Boyer will lead Plinqit’s efforts to enhance customer success, drive satisfaction, and ensure alignment across all customer-facing teams.

Backbase is excited to announce a major expansion of the Engagement Banking Platform with the introduction of the Intelligence Fabric layer, a powerful set of data and AI infrastructure and development capabilities that are now natively embedded in the platform.

Finastra today announced the appointment of Andrew Bateman in the role of EVP, Lending. Andrew is responsible for the leadership and growth of Finastra’s Lending Business Unit.

APRON, the business payments powerhouse, has raised a $30 million Series B funding round to help more small business owners make it by digitising and simplifying the payments process, and bring greater security to these companies’ cash flow. 

Today, Dotfile, a French RegTech company created in 2021 within the startup studio Hexa (fka eFounders), announces a €6M fundraising, just over a year after a first round of €2.5M. This new round is led by Seaya Ventures, with the participation of existing investors Serena and Hexa.