Blog - Page 236 of 1289

TrueLayer and Thunes Team Up for Open Banking

By Julie Muhn (@julieschicktanz) Posted on June 1, 2022
Categories: Daily news, Thunes, TransferTo

Open banking platform TrueLayer is partnering with cross-border payments company Thunes. Thunes will integrate TrueLayer’s open banking technology into its platform, making open banking available as a payment method. TrueLayer helps 100,000 merchants across the U.K., Europe, and Australia power open banking payments experiences that connect payments, data, and identity.

In the U.K., open banking is the rule, rather than the exception. So today's partnership between open banking platform TrueLayer and cross-border payments company Thunes is targeting the right geography. Through today's partnership, the two firms aim to streamline and improve the payment experience of consumers in the U.K. and Europe.

"Open banking payments are gaining momentum not only in the U.K. but also in the rest of Europe, and we really believe that this strong partnership with TrueLayer, a leader in the field, will help to move forward and make this new definition of smart payment a reality for all," said…

PwC and Microsoft Tap FintechOS for Digital Banking

By Julie Muhn (@julieschicktanz) Posted on May 31, 2022
Categories: Alumni News, Daily news, FintechOS, Microsoft, PwC

Financial services firm PwC and tech giant Microsoft are leveraging digital banking solutions provider FintechOS to create a digital banking solution. The group aims to help banks adapt and modernize their operations to fit into the digital-first era. "This will drive a massive improvement in time-to-value, and the extensibility of digital banking growth and expansion," said PwC Partner Akhilesh Khera.

In the fintech industry, third party partnerships are king. So it's not surprising to see the news that financial services firm PwC and tech giant Microsoft are tapping into the expertise of digital banking solutions provider FintechOS.

The trio announced their partnership, which will leverage FintechOS' expertise, PwC's digital banking prowess, and Microsoft's Cloud for Financial Services technology to create a digital banking solution aimed at helping financial institutions adapt and modernize their operations to fit into the digital-first era.

For its part, FintechOS will be crucial in providing…

Trustly to Acquire Ecospend

By Julie Muhn (@julieschicktanz) Posted on May 31, 2022
Categories: Alumni News, Alumni profile, Trustly

Sweden-based account-to-account payments specialist Trustly will acquire U.K.-based open banking payments platform Ecospend. Trustly anticipates the deal will help accelerate its move into the U.K. market. Financial terms of the deal were undisclosed.

Global payments fintech Trustly announced plans to acquire U.K.-based open banking payments platform Ecospend this week. Trustly anticipates that the deal, which will close for an undisclosed amount, will complement the company's account-to-account (A2A) payments platform and accelerate its rollout in the U.K.

The U.K. is a key geographical market for Sweden-based Trustly. The company set a goal to be the market leader in the U.K., and today's acquisition accelerates Trustly's journey towards that target. "I am delighted to welcome Ecospend to Trustly," said Trustly CEO Johan Tjärnberg. "This is a perfect strategic fit and I am convinced that it will enable us to deliver a market-leading product in the U.K., allowing us to capture opportunities and…

Plaid Teams Up with Truework to Launch Income Verification Solution

By David Penn Posted on May 31, 2022
Categories: Alumni News, Daily news, Plaid

Plaid teamed up with Truework to launch a new income verification solution, Plaid Income. The new offering will make it easier for loan applicants to share income and employment information with lenders. The Truework partnership comes just days after Plaid introduced its Identity Verification and Monitoring solution, as well as its partnership with financial wellness company Current.

Income and employment verification company Truework has partnered with Plaid to help the firm launch its new Plaid Income product. Plaid Income will bring greater accuracy, security, and speed to the loan application process. Prospective borrowers will be able to share income and employment data digitally and instantly with their approved lenders. Plaid Income will provide faster approvals for loan applicants while giving lenders greater confidence that they are lending the right amounts, to the right people, at the most appropriate interest rate.

"We built Plaid Income to provide a more inclusive credit…

Trendspotting: What’s Driving Fintech Innovation Today?

By David Penn Posted on May 31, 2022
Categories: David's column, FinovateSpring 2022

This year at FinovateSpring, we asked a handful of Finovate attendees, presenters, and demoing companies what ONE trend they think we should all be paying attention to in fintech over the next 12 months.

Will it be the return of cryptocurrencies or the ability to deliver better financial advice at scale? Embedded finance or the continued rise of personalization and niche banking? And what about macro-economic trends, and their impact on the ability of fintech startups to raise capital and fuel growth?

This is what they told us.

https://www.youtube.com/watch?v=lzOjHbopLEw

Be sure to check out the videos from our FinovateSpring demoing companies - including Best of Show winners Array, Horizn, Keep Financial, FinGoal, QuickFi, and Spave - coming soon to our Finovate video archives.

Photo by Pixabay

National Australia Bank to Launch BNPL Tool

By Julie Muhn (@julieschicktanz) Posted on May 27, 2022
Categories: Daily news

National Australia Bank is launching its own BNPL tool called NAB Now Pay Later. The bank's BNPL offering will not charge late fees, interest, or account fees. NAB expects to have a leg up on third party tools because, as NAB Group Executive Personal Banking Rachel Slade explained, "We know their banking and credit history and we’re assessing them based on our existing banking relationship."

National Australia Bank is making its way into the buy now, pay later (BNPL) game. The bank announced this week that its customers can pre-register to use its BNPL tool, which is called NAB Now Pay Later.

NAB's BNPL offering will enable customers to split online and in-person purchases of up to $1,000 into four payments. The bank will not charge late fees, interest, or account fees for the service.

NAB Group Executive Personal Banking Rachel Slade described NAB Now Pay Later as…

Yapily Helps Make BNPL Checkout Easy for Small Businesses

By Julie Muhn (@julieschicktanz) Posted on May 26, 2022
Categories: Daily news

Open banking expert Yapily and B2B BNPL player Two have paired up. Norway-based Two will leverage Yapily data, eliminating the need for businesses to fill out forms when paying with BNPL. "With Yapily and open banking, we can provide a safer, cheaper, and easier financial bridge for businesses that are ready to move forward," said Two Head of Product Deane Barton.

Yapily, a fintech that seeks to help businesses enhance their offering by embedding open banking into their products and services, announced its newest plan to help small businesses succeed.

The U.K.-based company is joining forces with Norwegian BNPL player Two to fuel data for Two's B2B BNPL tool. "We’re working with Two to ease the cash flow burden for SMEs by offering alternative ways to access credit with BNPL and open banking," Yapily said in a blog post.

Small businesses making online purchases can use Two at checkout…

Finovate Best of Show Winner Chimney Inks Partnerships with a Pair of U.S. Banks

By David Penn Posted on May 25, 2022
Categories: Alumni News, Chimney, Daily news, Signal Intent

Chimney announced partnerships with two banks, Farmers & Merchants Bank and Northwest Bank, that will deploy Chimney's embeddable financial tools to boost customer engagement. Formerly known as Signal Intent, Chimney won Best of Show at FinovateSpring in 2021. Courtesy of this week's agreements, Chimney now boasts a total of 15 bank partnerships.

In a bid to boost customer engagement, Farmers & Merchants Bank and Northwest Bank have teamed up with Chimney and will deploy the New York-based company's financial calculators to help their customers make better decisions about their financial futures.

"In the last two years, we've seen greater investments into digital experiences that put customers first," Chimney co-founder and CEO Matthew Covi said. "Consumers no longer want to be pushed products and services; they want experiences that add value to their everyday life and improve their financial health."

Previously known as Signal Intent - and winning a Best of…

Stripe Unveils App Marketplace

By Julie Muhn (@julieschicktanz) Posted on May 25, 2022
Categories: Daily news, DocuSign

Stripe is launching the Stripe App Marketplace. The company's business customers will be able to browse the new digital store to find and integrate third party apps into their own operations. Businesses will be able to develop and launch their own custom apps within their own company.

Ecommerce technology company Stripe launched an offering that will help businesses tap the technology from third parties to enhance their own offerings. The new launch, the Stripe App Marketplace, is a digital store where businesses can browse popular third-party tools.

Integrating third party tools into their own solution enables businesses to customize Stripe. Adding multiple operations under their Stripe account also enables businesses to automatically share contextual information across apps.

As Mailchimp Chief Product and Design Officer Jon Fasoli explained, “Let’s say, for example, a business owner wants to automate a targeted message when a customer makes a purchase, sending them a…

Going Full Circle: Why Business Leaders Need a 360 View to Gain a Competitive Edge

By Charlie Burgess Posted on May 25, 2022
Categories: Sponsored

Amid ongoing disruption, sudden market changes, and unforeseen circumstances, the ability to leverage live data and gain a 360-degree view of the enterprise is vital for financial services firms to gain much-needed resilience and agility.

Marqeta Inks Partnership with Embedded Finance Platform Alviere

By David Penn Posted on May 24, 2022
Categories: Alumni News, Alumni profile, Daily news, Marqeta

Modern card issuing platform Marqeta has come a long way since its Finovate debut in 2016. Back then, Marqeta was a six-year-old company, presenting the world's first fully-documented, open API issuer processor platform, and emphasizing the company's commitment to producing payments solutions that were "developer-friendly." In fact, it was at Finovate's developer conference, FinDEVr Silicon Valley in 2016 that Marqeta led a presentation "Democratizing Issuer Payment Processing with Just-In-Time (JIT) Funding."

In the years since then, the Oakland, California-based fintech has forged partnerships with fellow Finovate alum Token (2017); with CashFlows, Visa, and Mambu (2019), with Mastercard, Afterpay, and Uber (2020) and, last year, with companies including Bill.com, Coinbase, and Square. The company also has raised more than $530 million in funding, and launched as a public company a year ago, trading on the NASDAQ under the ticker MQ.

Most recently, Marqeta returned to the fintech…