THE BRIEF

IMPROVE DIVERSITY BY FOCUSING ON STAFF RETENTION, WILEY SAYS

The Numbers

 BUTTER

The Silicon Valley fintech, which helps online subscription businesses to reduce “accidental churn” within payment processing, has raised US$22mn in Series

A funding led by Norwest Venture Partners.

 40SEAS

71% Yes

“ROPEN BANKING IS MAYBE A TEENAGER, IF WE WANTED TO AGE OURSELVES; WE’RE GOING THROUGH THAT AWKWARD STAGE”

NICOLE GREEN

VP Product Strategy and Operations, Yapily 

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Improving staff retention is an important first step in tackling the tech sector’s diversity problem, according to the authors of a new research report, published by Wiley.

Nearly two-thirds (64%) of businesses admit to struggling to retain employees from underrepresented backgrounds, according to the research. This is in spite of a majority (65%) of respondents believing that they work hard to foster an inclusive corporate culture.

Eu Consortium Delivers Controversial Digital Id Wallets

The EU has announced a multi-country consortium to lead the delivery of a cross-border payments pilot programme – including the launch of a controversial digital ID wallet.

BNPL FIRM TABBY RAISES $58MN IN SERIES C FUNDING

Dubai-based BNPL fintech Tabby has raised US$58mn in funding, which will help it to support product expansion and continue growing out its operations.

The Israeli fintech platform for cross-border trade financing has emerged from stealth, raising US$11mn in seed funding from Team8 and securing a US$100mn credit facility from ZIM Integrated Shipping Services.

 PADDLE

The UK payments fintech announced it would be cutting around 8% of its workforce as tech industry layoffs continue into 2023. Founder and CEO Christian Owens said it was a response to rising inflation.

 CLEARCO

Head

of Financial Services & Insurance, Fujitsu 

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More than a quarter (27%) of tech workers aged between 18 and 24 say they have left a role because they didn’t feel a sense of belonging, while over a fifth (22%) say they had previously experienced biased treatment from managers. The research indicates that failing to create a truly inclusive and welcoming environment contributes directly to poor retention rates on tech teams.

ALIPAY AND THUNES TEAM UP ON CROSS-BORDER PAYMENTS

Alipay+ and global cross-border payments company Thunes have forged a new partnership that will see the release of an innovative suite of cross-border payment services.

The troubled lending firm, which has undergone a significant downsizing in the past year, has announced the departure of CEO Michele Romanow – the second chief executive to leave the company in the past 12 months.

G O O D T I M E S B A D T I M E S

MAR23