Fintech Rundown: A Rapid Review of Weekly News

Fintech Rundown: A Rapid Review of Weekly News

With neobank Monzo’s big investment and multi-billion dollar valuation on one side and the continued woes of BaaS provider Synapse on the other, “interesting times” continue to characterize the fintech landscape as we slide into the summer months.

Be sure to check our Fintech Rundown all week long for the latest updates and fintech headlines.

Insurtech

Indian insurtech CoverSure raises $4 million in pre-Series A funding in a round led by Enam Holdings.

Payments

First National Bank of Omaha (FNBO) turns to Derivative Path for advanced FX payments.

Quest Payment Systems to provide payment technology to Australian public sector POS payment company NSW Government.

Turkey’s United Payment secures e-money license from the Central Bank of Azerbaijan.

Chinese digital payments solutions provider Lianlian DigiTech receives e-money license in Luxembourg.

Deel extends strategic investment to Alviere to enhance U.S. worker payments.

Five million businesses now transacting on Versapay’s B2B payment network.

DailyPay appoints Stacy Greiner as interim Chief Executive Officer.

Pidgin partners with Corelation to enable real-time payments for credit unions nationwide.

Curve plans to launch digital payment solution on iOS to compete with Apple Pay.

Fraud prevention and compliance

Fraud and financial crime prevention platform DataVisor announces partnership with financial services compliance consultancy firm Davies.

Blockchain-based SaaS platform Henoscene partners with Lithuanian regtech iDenfy to enhance its KYC operations.

Solutions by Text secures $110 million growth round led by Edison Partners and StepStone Group.

Ocorian appoints Chief Financial Officer.

Sift announces RiskWatch to simplify fraud decisioning and catalyze growth.

AMLYZE announces strategic partnership with Aura Cloud to enhance financial crime prevention. 

Embedded finance

Embedded finance solutions provider Finotta announces strategic partnership with digital banking services provider Constellation Digital Partners.

Treasury Prime partners with onboarding identity provider Footprint.

Digital banking

Crédit Agricole Next Bank taps InvestGlass to enhance its lead management and CRM.

Sikoia joins the NayaOne marketplace.

Data

Transcend raises $40 million in Series B funding to fix privacy for the enterprise.

Small business finance

Rewards network Ascenda to provide Ramp customers more ways to redeem points earned on U.S. spend. 

Inter&Co to acquire the remaining 50 percent of Granito, a Brazil-based merchant acquirer.

Kintsugi lands $6 million in Series A funding to simplify tax compliance with AI-powered automation.

Crypto

Ledger starts shipping its high-end hardware crypto wallet.

Wealth management

DriveWealth introduces new Chief Product Officer Kyla Murphy.

Alternative asset platform Alto launches Alto Marketplace, offering curated private alternative investment opportunities for eligible investors.

PureFacts Financial Solutions selects BridgeFT’s WealthTech API to enhance data infrastructure for end-to-end revenue platform.

Identity management

AU10TIX launches free Risk Assessment Model to help companies conduct initial assessment of identity fraud risk.


Photo by Nathan Cowley

Fintech Rundown: A Rapid Review of Weekly News

Fintech Rundown: A Rapid Review of Weekly News

The first week of April begins with a resolution in the Sam Bankman-Fried saga as the former FTX founder and infamous crypto entrepreneur receives a sentence of 25 years in prison.


Crypto

Sam Bankman-Fried sentenced to 25 years in prison for its role in the FTX scandal.

Web3 payment solution provider Alchemy Pay announces investment in LaPay.

Issuer-processor Paymentology partners with Web3 and digital asset corporate spend management platform Rain.

Lending

Loan origination specialist Baker Hill implements CrowdStrike’s Falcon platform.

Financial wellness

Financial guidance specialist Chimney announces that it now has 30 banks on its client roster.

Payments

BankPro Limited, a subsidiary of FxPro Group, partners with just-in-time payment card provider Arroweye Solutions.

Visa launches Subscription Manager to help consumers track subscriptions and recurring payments.

Canada-based payments company Nuvei agrees to be acquired by Advent for $6.3 billion.

Versapay taps Gaby Kozakov as its new Chief Technology Officer.

All-in-one payments platform ConnexPay introduces new CEO Ben Peters.

Modern Treasury launches new Professional Services offering.

MENA-based fintech Valu partners with noon Payments.

Arab Financial Services teams up with ACI Worldwide to promote payment modernization.

Brim Financial secures $85 million in Series C funding to fuel global expansion.

Trustly and Cross River Bank pioneer FedNow transactions.

Check to power Wave’s expanded payroll offering.

Credit Reporting

FinDoc, a fintech based in Malaysia, announces a strategic collaboration with credit reporting agency CTOS Data Systems.

Wealth Management

Clearwater Analytics acquires risk and performance analytics solutions from global financial services firm Wilshire Advisors.

JPMorgan Chase reports major adoption of its Wealth Plan digital money coach, with a million personalized plans created in the year after launch.

Alternative asset platform Alto appoints CEO Scott Harrigan as President and Beth Bellon as SVP of Operations.

Digital Banking

Bluevine introduces a trio of new business checking plans.

Ally Financial introduces new CEO Michael Rhodes.

Digital banking solutions provider Alkami partners with SWIVEL to give its clients access to new loan payment capabilities.

nCino unveils new upgrades to its Consumer Banking Solution.

Q2 appoints Katharine Briggs as Chief Product Officer.

Swedish-based cloud core banking platform provider Vilja partners with U.K.-based mortgage origination partner Mast.

ieDigital, Connect FSS, and ABAKA announce appointment of Rami Cassis as CEO.

Procure-to-pay software provider PairSoft acquires APRO Software Solutions

First State Bank selects Jack Henry to revamp its banking experience.

Regtech

Risk management solutions provider Abrigo acquires TPG Software.

Identity management

Biometric identity solutions provider iProov appoints Peter James as its Chief Product Officer.

Insurtech

Enterprise insurance management platform Novidea introduces new Chief Revenue Officer Jeff Heine.


Photo by Thought Catalog