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- Mortgage debt on the rise | Q2 partners with Mastercard | Ashok Vaswani appointed new CEO of Kotak Mahindra Bank
Mortgage debt on the rise | Q2 partners with Mastercard | Ashok Vaswani appointed new CEO of Kotak Mahindra Bank
Natasa Kyprianidou
October 22nd, 2023 • Estimated Reading Time: 5 minutes
Hey Fintech'ers 👋
Every Sunday, I'll be sharing a curated weekly roundup of the most popular stories in fintech, covering trends in banking, technology, startups, venture capital and... essentially all things related to the fintech industry. Get a 3-minute read of what matters.
Here's my pick of the top five global news stories in fintech this week:
🗞 Story #1
Mortgage debts and bust firms put UK banks’ profits under pressure
With the major lenders sharing their results this week, investors are striving to remain positive and are hopeful that UK banks won't face any new crises as they prepare to reveal their third-quarter profits.
Source: The Guardian
🗞 Story #2
Ashok Vaswani: A Tech Evangelist Who Will Lead Kotak Mahindra Bank
Uday Kotak made a sudden announcement of his resignation as the head of the bank he founded 49 days ago, raising questions about his successor at Kotak Mahindra Bank Ltd. Although initial speculations pointed towards an internal candidate, Kotak Mahindra Bank confirmed on Saturday that Ashok Vaswani will assume the top position.
Source: BloombergQuint
🗞 Story #3
Q2 Partners with Mastercard® to Bring Debit and Prepaid Card Programs to Helix Customers
Announcing a strategic collaboration, Q2 Holdings, Inc. (NYSE: QTWO), a key player in digital transformation solutions for banking and lending, has partnered with Mastercard. This partnership will empower fintechs, brands, and financial institutions that utilize Helix's cloud-native core to issue Mastercard debit and prepaid cards to their account holders.
Source: Fintech Finance
🗞 Story #4
Is Plaid’s potential IPO a sign of fintech turning a corner?
Plaid made headlines last week by appointing Eric Hart, a former executive from Expedia, as its new chief financial officer. This decision did not come as a complete surprise, given that Plaid is now a decade old, achieved a valuation of over $13 billion in 2021, and is experiencing ongoing growth in its services and revenue. The intriguing aspect here is that Plaid is contemplating an IPO, even though the specific timing remains uncertain.
Source: TechCrunch
🗞 Story #5
Binance Halts Card Services in Europe, Shifts Focus to Euro Payments
Binance has recently revealed its intention to terminate Binance Card services in Europe by December. This decision comes after Binance reinstated Euro payments for its European customers. Although Binance did not provide explicit reasons for this move, it assured users that their accounts would not be impacted.
Source: BelnCrypto
Crush those Sunday scaries 😱
📚 Good read: Exploring Deepfakes By Bryan Lyon
🎙️ Podcast to listen to: Acquired
And that's a wrap fintech'ers, till next week. 🎬👋
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Disclaimers: Please be aware that the opinions I express in this newsletter are my own and do not represent the viewpoints of any organization I am associated with. This newsletter is intended solely for educational purposes, and none of its content should be interpreted as any form of investment or financial guidance.
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