Hello Fintech Friends,

A big thank you to the TechCrunch team for having me and Chris Wallace over last week to talk about early-stage fintech investing (and how to navigate the bs…) at TechCrunch Disrupt.

An equally big thank you to Paytient...

Paytient’s Health Payment Account (HPA) empowers people to pay for care over time with no interest and no fees — ever.

...and Wolf & Co:

Wolf & Company is a national CPA and advisory firm with a regional feel that offers clients a wide range of services tailored to suit their industry's unique needs.

For sponsoring this year’s Fintech Formal! Will you be there? Almost 50% of tickets are now sold out.

Where else in the world is TWIF? You can find us in Paris, Atlanta, Mexico City, and New York over the next few weeks - check it all out below 👇

This Week in Fintech · Luma

The front page of global fintech.

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Please enjoy another week of fintech and banking news below. (👍👎 Have feedback for us? Let us know!)

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💼 Fintech Job of the Week

Fintech treasury operations platform Payable is hiring a BDR to help them scale at lightspeed!

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💬 Quote of the Week

🏦 Financial Services & Banking

🚀 Product Launches

Citigroup launched a new token service that allows bank account holders to tokenize their deposit to access trade finance and cash management. (Similar to JP Morgan's recently-announced deposit token.)

The European Payments Initiative launched wero, a new digital wallet.

📰 Other News

Visa and Swift are joining their networks to streamline cross-border B2B payments. The network also partnered with Lloyds Bank on business spend management virtual cards.

Goldman Sachs and Apple were planning to debut a new stock trading feature until the markets turned and Goldman started walking back its retail business.

Barclays, BNP Paribas, Goldman Sachs and HSBC formed a joint venture to create a Position Reporting Utility for reporting securities holdings to regulatory bodies.

The European Central Bank is exploring the use of ChatGPT-like models for document analysis and software testing.

The CFPB announced proposed sweeping changes to the Fair Credit Reporting Act that would impact financial data brokers and users.

National Australia Bank was fined $1.4 million for unlawful fees, Chase announced that it will entirely ban crypto transactions in the UK, NatWest suffered an ATM glitch that led customers to believe their accounts were empty, and Lloyds shut down 35 more branches, and the UK's Financial Conduct Authority threatened foreign crypto firms with fines and imprisonment.

💻 Fintech

🚀 Product Launches

WhatsApp launched a new in-chat payment service for businesses in India.

Apple is soft-launching its boyfriend... uh, its open banking integration for iPhone Wallet.

Varo Bank is taking on PayPal and Venmo with its new peer-to-peer payment feature.

Heron Data released new cashflow scoring for small businesses.

Atomic launched PayLink, a way consumers to connect merchant accounts, streaming services, and recurring bills to their bank.

Ocrolus launched an enhanced mortgage dashboard for faster, more accurate lending decisions.

Canadian SMB neobank Vault* launched Interac e-Transfer for businesses to load funds into their account within minutes.

📰 Other News

Flatcoins ‘New Thing On the Horizon’: Coinbase CEO Brian Armstrong - Decrypt

Flatcoins are a type of stablecoin designed to move in line with inflation, instead of being pegged to a currency or asset.

DecryptMatt Hussey

TrueMed came out with a platform to let people unlock HSA / FSA savings, but apply them towards healthy behaviors.

Neobank Leatherback expanded its remittances app in the UK.

Cross-boder payments platform Neo passed €10 billion sent through its corporate multi-currency accounts.

🤝 Partnership Corner

Embedded banking provider Treasury Prime announced a new partnership with advanced instant payment provider Astra*, to give customers access to instant account funding and instant disbursements via push-to-card capabilities.

LatAm open banking platform Belvo partnered with microfinance lender Mibanco to leverage open finance to assess the borrowing capacity of Mibanco customers in Colombia.

Mercedes partnered with Mastercard to turn cars into payment devices.

All-in-one card app Curve connected with PayPal.

👎 The Bad News

German embedded banking provider Solaris is struggling to raise the funds necessary to take over the card portfolio of ADAC, Europe's largest motorist association.

Come meet us in-person at fintechhappyhour.com, and join our angel investing syndicate.