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Global payments platform Nium unveiled a new payments solution. The new solution helps international banks increase the speed and reduce the cost of settling transactions to select U.S. brokerages. Leveraging the tool, financial institutions can save up to 90% in settlement fees. Global payments platform Nium unveiled a new payments solution that will help international Read more…
Three payments powerhouses have partnered this week in a movement toward fast and seamless cross-border payments. France’s EBA Clearing, Belgium’s SWIFT, and the U.S.’s The Clearing House (TCH) are working together to launch Immediate Cross-Border Payments (IXB). IXB is a new initiative that can synchronize settlements in two different, instant payment systems and convert real-time Read more…
PayPal has apparently not taken vacation this summer. After a surge of partnerships, the payments company announced it will acquire Swift Financial, a U.S.-based small business lending platform. Terms of the deal, which is expected to close later this year, were not disclosed. Delaware-based Swift Financial has provided working capital to thousands of small businesses Read more…
With more than 280 companies applying, and 47 companies selected to compete, the Innotribe Startup Challenge is down to the top 15 companies that will move on to the Grand Finale. And six of the companies to advance are Finovate alums. The Innotribe Startup Challenge is part of Sibos, the conference held by SWIFT each Read more…
At Swift’s Innotribe last week, a group of startups pitched their latest fintech innovations to a group of banks, VCs, and tech gurus. The 14 companies, who were selected from a pool of 200 applicants, were given 6 minutes each to pitch the audience. Realty Mogul, P2P Cash, and recently-acquired Good April were among the companies vying Read more…
SoFi and its subsidiary Galileo are teaming up this week with small business banking platform Rapid Finance to launch the Rapid Access Mastercard. The new offering is a prepaid commercial card that allows Rapid Finance’s small business customers with a line of credit in good standing to access their funds. The card will give companies Read more…
A strategic relationship between client onboarding automation specialist Setuply and human capital management solution provider CheckmateHCM will help new employees “adapt and excel in their roles swiftly,” Setuply CEO Rachel Lyubovitzky said in a statement. “Observing our technology facilitate streamlined onboarding and creating opportunities for emerging knowledge workers is gratifying,”Lyubovitzky said. “This showcases the potential Read more…
YCombinator (YC) recently wrapped up its three-month winter tech accelerator program, holding its demo day last week. This program, which is one of two the accelerator hosts each year, comprised of 21 fintech companies. The fintech graduates from YC’s winter program can be broken down into six main categories: asset management, banking and exchange, credit Read more…
This week Finovate Global looks at recent fintech news from Africa’s most populous nation: Nigeria. Nigerian blockchain network Zone secures investment Last week in Finovate Global we noted the news that Nigerian blockchain network Zone had raised $8.5 million in seed funding. This week we’re filling in some of the details of the investment – Read more…
Account Galaxy is the name of the newest solution from Finzly. The Banking-as-a-Service (BaaS) solutions provider unveiled the new embedded banking solution in an announcement today that highlights how Account Galaxy can help banks participate in embedded banking. Account Galaxy offers two main use cases to facilitate BaaS functionality: advanced payment processing and flexible accounting Read more…
SoFi-owned Galileo Financial Technologies has expanded its relationship with The Bancorp Bank this week in an effort to enable real-time payments. Under the scaled up agreement, Galileo and The Bancorp will leverage The Clearing House’s Real Time Payments (RTP) network to fuel real-time payments services. By offering instant money movement between bank accounts, the two Read more…
Amid the panel discussions, fireside chats, and keynote speeches, FinovateEurope 2024 will also offer a half dozen special addresses on topics ranging from tokenization to customer onboarding to open finance. With less than two weeks to go before the lights go up on the Finovate stage – 27 February to 28 February – here’s a Read more…