The March edition of Banking Technology Magazine highlights various developments in the fintech industry:
- Avenue Bank’s Unrestricted Banking License:
- Avenue Bank, a digital business bank in Sydney, has obtained an unrestricted banking license from the Australian Prudential Regulation Authority (APRA).
- The bank specializes in providing bank guarantees for SMEs securing commercial leases.
- Enfuce’s UK EMI License and Leadership Appointment:
- Finnish issuer processor Enfuce has secured a UK Electronic Money Institution (EMI) license.
- Laurence Krieger, a fintech veteran, has been appointed Chairman of Enfuce’s UK board of directors.
- Volt’s UK EMI License:
- Paytech Volt has been granted a UK EMI license, complementing its existing European license in Poland.
- The license allows Volt to offer electronic money services, including virtual accounts as a standalone product.
- Treasury Prime’s Business Reorientation:
- California-based BaaS provider Treasury Prime is reorienting its business to focus on selling technology directly to banks, rather than fintechs.
- The company emphasizes that existing fintech clients will not be impacted, and resources will be allocated to respond more quickly to their needs.
- Job cuts are expected, affecting approximately half of Treasury Prime’s 100 employees.
The magazine also encourages readers to stay informed about industry developments by visiting the news section on their website and subscribing to the free newsletter.
