Blog - Page 227 of 1289

Rapyd to Power Rakuten Viber’s New Viber Pay

By Julie Muhn (@julieschicktanz) Posted on July 29, 2022
Categories: Daily news

Rapyd has partnered with Rakuten Viber this week. Rapyd will facilitate in-app payments for Viber users. "Through this partnership, Rakuten Viber can confidently step into the world of payments and become a leader in embedded finance, supported by Rapyd's licensed end-to-end fintech offerings," said Rapyd CEO Arik Shiltman.

Payments platform Rapyd partnered with consumer-facing messaging app Rakuten Viber today. Under the agreement, Rapyd will facilitate in-app payments for Viber users.

"The future of payments is integrated fintech, and this partnership demonstrates why we founded Rapyd in the first place: to democratize fintech for all," said Rapyd CEO Arik Shiltman. "We're proud to provide the infrastructure and licensing for global companies like Rakuten Viber, one of the world's most trusted and recognized messaging and communications platforms, to develop their own financial services without them having to build the foundation from scratch. Through this partnership, Rakuten Viber can confidently step into the…

Finovate Global Germany: Ecolytiq Partners with Tatra Banka; Airbank Inks Deal with Klarna Kosma

By David Penn Posted on July 29, 2022
Categories: Crassula, ecolytiq, Finovate Global, FIS, MasterCard, PaySend, Salt Edge, WorldPay

This week's edition of Finovate Global takes a look at recent fintech developments in Germany where green banking, embedded finance, and open banking are the themes at the top of this week's fintech headlines.

First up, Berlin-based Sustainability-as-a-Service innovator ecolytiq announced that it was teaming up with Slovakian financial institution Tatra Banka. The climate engagement fintech will provide Tatra Banka with the technology the firm needs in order to launch new green banking functionality on its online banking brand, Blue Planet. The new feature, which will be made available to Tatra Banka's more than 600,000 customers, will enable users to monitor the impact their transactions may have on the environment (for example, with CO2 emissions), provide users with ideas on how to reduce their environmental impact, and offer rewards for spending that is environmentally friendly.

Founded in 2020, ecolytiq demonstrated its technology at Finovate's developer event, FinDEVr 2021…

Jack Henry Partners with Victor Technologies to Boost Real-Time Payment Capabilities

By David Penn Posted on July 28, 2022
Categories: Alumni News, Daily news, Jack Henry

Jack Henry & Associates announced a partnership with Victor Technologies. The partnership will help Victor Technologies move forward with its instant payments strategy. Jack Henry & Associates serves more than 8,000 customers in the U.S. via its Jack Henry Banking, Symitar, and ProfitStars brands.

Financial services provider Jack Henry & Associates has partnered with Victor Technologies to help advance its instant payments strategy. A subsidiary of MVB Edge Ventures and part of MVB Bank, Victor Technologies leverages both its integrated risk management technology as well as APIs to enable fintechs to embed financial services. The company has added real-time payments (RTP) capabilities via Jack Henry's JHA PayCenter, which will enable MVB Bank's Jack Henry core to send and receive real-time payments.

"Instant payments 24/7/365 is now table stakes and offers a huge competitive advantage for our clients," Victor Head of Strategy and Operations said. "The features of the RTP…

MX Names Former PayPal Exec as New CEO

By Julie Muhn (@julieschicktanz) Posted on July 28, 2022
Categories: Alumni News, Daily news, MX

MX has appointed Jim Magats as CEO, replacing Interim CEO Shane Evans. Magats comes to MX after spending 18 years as a senior executive at PayPal, where he specialized in open finance. Evans will continue to serve as a senior advisor.

Open finance fintech MX named Jim Magats CEO this week.

The news comes after company Founder and former CEO Ryan Caldwell stepped down at the beginning of the year, appointing Shane Evans as Interim CEO. After the transition, Caldwell stepped into a new role as Executive Chair to spend more time with family and focus on his daughter's health recovery.

"Jim Magats brings a wealth of experience and knowledge about how to deliver high-impact financial solutions and products for consumers, merchants, and financial organizations, along with a vast network of partners and customers at the world's leading financial institutions and fintechs," said Caldwell. "We have tremendous confidence in Jim's ability to…

Collaborative Banking Innovator Asa Partners with Pyramid Federal Credit Union

By David Penn Posted on July 27, 2022
Categories: Alumni News, ASA, Daily news

Provo, Utah-based fintech Asa announced a partnership with Pyramid Federal Credit Union. Asa will use its collaborative banking approach to enable Pyramid FCU to expand its offerings via connections with customer-facing fintechs. Asa made its Finovate debut last September at FinovateFall 2021.

Pyramid Federal Credit Union, a Tucson, Arizona-based financial institution with $168 million in assets, has selected Asa to enhance the customer experience for its more than 17,000 members. Asa specializes in connecting financial institutions with customer-facing fintechs via a secure, compliant, and easy-to-implement marketplace. The company helps credit unions, as well as community and regional banks, leverage what it calls "collaborative banking" to innovate faster and provide the most modern customer experience possible.

Pyramid FCU CEO Ray Lancaster underscored the challenge that smaller financial institutions face when it comes to providing their customers and members with the kind of up-to-date digital experience they are accustomed to in…

Socure and Middesk Forge Industry-First Integrated KYB/KYC Verification Solution

By David Penn Posted on July 26, 2022
Categories: Alumni News, Daily news, Socure

Identity verification and fraud solution provider Socure is teaming up with business verification and identity platform Middesk. The partnership is the first instance in which two Know Your Business (KYB) and Know Your Customer (KYC0 innovators have created an integrated, end-to-end business verification solution. Socure, a Finovate alum since 2013, has raised more than $646 million in funding.

Digital identity verification and fraud solutions provider Socure announced an industry-first partnership this week with business verification and identity platform Middesk. The integration combines Socure's real-time, predictive analytics identity verification and fraud prevention solution with Middesk's business entity verification technology to enhance the ability of B2B companies to accurately verify their customers. The collaboration marks the first time that two innovators in the Know Your Business (KYB) and Know Your Customer (KYC) space have created an integrated solution for end-to-end business verification.

"With our partnership, B2B companies will achieve an incremental lift…

Eight Alums Raised More Than $984 Million in Q2 2022

By David Penn Posted on July 25, 2022
Categories: Allied Payment Network, Altro, Autobooks, Backbase, Chekk, Crowdz, David's column, Funding, Fundings, Quarterly Funding, SumUp, Thought Machine

We may have missed an alum or two. But with the second quarter of 2022 in the books, here's a look at our Finovate alumni funding for April, May, and June of this year.

As of our current count, eight Finovate alums have raised more than $984 million in Q2 of 2022. Of the eight alums that received funding in the quarter just ended, two - Allied Payment Network and Chekk - did not disclose the total amount of their investments.

Two of the quarter's biggest investments were received in June, giving that month the lion's share of capital raised by Finovate alums in the second quarter of the year.

Previous quarterly comparisons

Q2 2021: More than $2.8 billion raised by 14 alums Q2 2020: More than $975 million raised by 15 alums Q2 2019: More than $1.8 billion raised by 29 alums Q2 2018: More than $1.5 billion raised…

Arkose Labs Integrates with Ping Identity to Better Defend Against Bot and Human-Led Fraud Attacks

By David Penn Posted on July 25, 2022
Categories: Alumni News, Arkose Labs, Daily news, Ping Identity

Finovate Best of Show winner Arkose Labs announced an integration with Ping Identity. The partnership will combine Arkose's Fraud Deterrence Platform with Ping Identity's PingOne DaVinci no-code identity orchestration service. Arkose Labs made its Finovate debut in 2019. Ping Identity has been a Finovate alum since its appearance at FinovateEurope in 2012.

Fraud deterrence and account security specialist Arkose Labs announced an integration with fellow Finovate alum Ping Identity. Arkose Labs will leverage Ping Identity's no-code identity orchestration service, PingOne DaVinci, to create an additional level of protection against both bot and human-led fraud attacks.

The integration blends Ping Identity's identity and access management (IAM) technology with the Arkose Fraud Deterrence Platform. The combined offering will enable enterprise clients to better identify authorized users sooner, reducing friction during account registration and log in. The technology also reduces emphasis on multi-factor authentication, creating an even more seamless experience for…

Business Finance Solutions Qonto and Penta to Join Forces

By Julie Muhn (@julieschicktanz) Posted on July 22, 2022
Categories: Daily news, Mergers & Acquisitions

European business finance solution company Qonto is seeking to acquire its competitor Penta. Together, the two will serve more than 300,000 small business customers across Germany, France, Italy, and Spain. Terms of the deal have not been disclosed.

Two European business finance solution companies have agreed to join forces. In the deal, which is expected to close in the next few weeks, Paris-based Qonto is seeking to purchase Berlin-based Penta. Financial terms have not been disclosed.

"When Steve Anavi and I founded Qonto in 2016, we had the ambitious goal of simplifying everyday banking for SMEs and freelancers across Europe," said Qonto CEO Alexandre Prot. "Today, we’re already present in four European markets and, while I’m very proud of what we’ve achieved so far, we want to go even further: the natural next step was to join forces with Penta. We are thrilled to welcome the Penta team onboard.…

Finovate Global U.K. Edition: Dynamic Planner Secures Investment from FPE Capital; Starling Bank Reaches Profitability

By David Penn Posted on July 22, 2022
Categories: Dynamic Planner, Feedzai, FICO, Finovate Global

Dynamic Planner, a risk-based financial planning firn based in the U.K., has secured what the company is calling a "significant investment" from private equity growth firm FPE Capital. Terms of the investment were not disclosed, but the additional funding is designed to help accelerate Dynamic Planner's expansion plans in the U.K. and Europe.

Dynamic Planner CEO Ben Goss praised FPE Capital for not only for backing successful software companies in the past and helping them scale their businesses, but also for sharing values that Dynamic Planner holds dear. "They also share our vision for solving our industry's major challenges through technology such as process digitization, customer experience, investing sustainably for future generations, and omni-channel financial planning in a post-pandemic world," Goss said.

Making its Finovate debut at FinovateEurope in London earlier this year, Dynamic Planner offers a single platform that enables financial advisory firms to match clients with investment…

Open-Finance.ai Taps FICO’s Blaze Advisor for Real Time Credit Assessment

By Julie Muhn (@julieschicktanz) Posted on July 22, 2022
Categories: Alumni News, Daily news, Fair Isaac FICO, FICO

Open-Finance.ai partnered with FICO to leverage the company's Blaze Advisor decision rules management system. Israel-based Open-Finance.ai will integrate Blaze Advisor into its open banking platform to offer real-time credit assessments. This news comes as "Israel is on the cusp of major banking reform with the introduction of open banking," said FICO VP of Partner Management in Europe, the Middle East, and Africa Mark Farmer.

Analytic decisioning platform FICO and risk, finance, and compliance software company Open-Finance.ai have teamed up this week.

Under the agreement, Open-Finance.ai will integrate the FICO's Blaze Advisor decision rules management system into its open banking platform. Using FICO's technology, Open-Finance.ai will assist its financial services clients to save time on consumer credit assessments by leveraging real-time, analytically driven appraisals.

For Israel-based Open-Finance.ai, this comes just as open banking legislation is gaining traction. "Israel is on the cusp of major banking reform with the introduction of open banking," said FICO VP…