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UK-based local payments infrastructure provider PPRO raised over $180 million to invest in payment systems. The funding enables better connectivity for banks and fintechs through local payment method ...

Shareholders of ConnectOne Bancorp and The First of Long Island Corporation approved their proposed merger, expected to close in Q2 2025. The combination creates a larger community banking platform in...

Telcoin received conditional approval from the Nebraska Department of Banking and Finance to become the state's first Digital Asset Depository Institution (DADI). This makes Telcoin the first regulate...

Federal regulators conditionally approved Capital One's acquisition of Discover Bank, while simultaneously penalizing Discover $100 million. This deal combines two major card-issuing banks and has sig...

Varo Money received conditional approval from the Office of the Comptroller of the Currency (OCC) for a national bank charter, making it one of the first mobile-only fintechs to reach this milestone. ...

SmartBiz Loans, a fintech small business lending marketplace, completed its acquisition of United Community Bancshares and its subsidiary Centrust Bank (now renamed SmartBiz Bank). The deal, approved ...

The FDIC approved Industrial Loan Company (ILC) charters for Square Financial Services (Square Bank) and Nelnet Bank, ending a years-long moratorium on new ILC charters. This landmark decision opens t...

The OCC granted conditional approval to Protego Trust Company to convert to a federally-chartered trust bank. Protego, a Seattle-based crypto custody and trading provider, became the second crypto fir...

New York Community Bancorp's merger with Flagstar Bancorp received shareholder approval on August 4, 2021, with expected close in Q4 2021. The combination creates a larger banking entity with potentia...

Cross River Bank partnered with Payment Approved to advance the movement of money. The partnership leverages Cross River's payments infrastructure to support Payment Approved's platform. This deal rei...

The OCC issued Conditional Approval 1281 for Summit National Bank (Hulett, Wyoming) to establish a FinTech Division offering traditional banking products to fintech-sourced customers. The approval was...

Savi Financial Corp. received FDIC approval in 2023 for a Washington state-chartered de novo bank called Orca Bank. The company still required Federal Reserve approval and targeted a Q1 2024 opening. ...

New York Community Bank received OCC approval in late October 2022 to merge with Flagstar Bank and convert to a national bank charter. The deal still required Federal Reserve approval. The combined en...

The FDIC approved an industrial loan company charter for Thrivent Financial for Lutherans on June 14, 2024, the first ILC approval since Block and Nelnet in 2020. The new Thrivent Bank will be based i...

Varo Money received preliminary approval for a national bank charter, becoming one of the first US consumer fintech startups to pursue a full banking license. The company had raised $79 million in fun...

GXBank, the Grab-led digital bank consortium in Malaysia, completed its operational readiness review and received approval from Bank Negara Malaysia and the Minister of Finance to commence operations....

Indian fintech unicorn Slice received Reserve Bank of India approval to merge with North East Small Finance Bank, creating a combined digital-first banking entity. The deal is one of the rarest instan...

As of October 2023, the OCC had not approved any de novo bank charter applications from fintech companies since Acting Comptroller Hsu took office. More than half of fintechs that filed since 2017 wit...

The Boost-RHB Digital Bank Consortium received regulatory approval from Bank Negara Malaysia and the Ministry of Finance to commence operations as a digital bank effective January 15, 2024. The consor...

Business challenger bank Valt Bank received conditional approval for a U.S. bank charter in July 2019. The approval signals continued regulatory openness to fintech-driven banking entrants seeking nat...