Daily news

Bank of America Unveils QR Code Sign-in for CashPro

Bank of America Unveils QR Code Sign-in for CashPro
By David Penn Posted on
Categories: Bank of America, Daily news
  • Bank of America launched a new QR code sign-in for its CashPro offering.
  • Paired with biometrics, the new sign-in option takes advantage of the trend in favor of QR code technology as a verification and log-in solution.
  • Bank of America’s CashPro has received recognition from Celent, Global Finance magazine, The Asian Banker, and Treasury Management International (TMI).

One of the surprising fintech trends of the past few years has been the deployment of QR codes as an option to facilitate payments in an increasingly wide range of contexts. Today, Bank of America announced that it has launched a new QR code sign-in for its CashPro solution. This will enable Bank of America’s 500,000 CashPro users to scan a QR code with their mobile device and use their biometric information via the CashPro App in order to access the CashPro website. The new option will also alleviate the need for users to manually enter passwords.

“QR sign-in is a technology that’s familiar to our clients from their personal lives, and now they can use it to seamlessly access CashPro,” Global Product Head for CashPro in Global Transaction Services Tom Durkin said. “The technology kicks off a schedule of enhancements we plan to introduce to CashPro over the next 18 months that will further improve the simplicity and security of our award-winning platform.”

Bank of America’s CashPro offers a complete digital platform for managing payments, receipts, investments, FX, and trade. The technology enables users to conduct their banking business from anywhere via the CashPro App, viewing balances, approving payments in less than a minute, depositing checks remotely, and making payments. Businesses can leverage the CashPro API to access a wide range of treasury activities including payments, fraud prevention, liquidity optimization, and more. CashPro also has a forecasting feature. Powered by machine learning and predictive analytics, CashPro Forecasting provides visibility across all customer accounts – including accounts at other institutions – and helps firms better manage future cash flows. The technology, embedded in CashPro and unveiled at the beginning of the year, provides customizable, machine-generated, daily, weekly, or monthly forecasts and learns over time to make predictions smarter and increasingly accurate.

“Many companies today rely on manual, repetitive work to forecast their cash needs, leaving little time to analyze the data for making strategic decisions, which is the actual objective of the forecasting exercise,” Co-head of Global Commercial Banking, Global Transaction Services for Bank of America Ken Ullmann said. “With CashPro Forecasting, companies can automate their forecasting process while improving the accuracy of their predictions, all without making any IT investment.”

Among the world’s leading financial institutions, Bank of America serves 67 million consumer and small business clients with 4,000 retail financial centers. Bank of America also provides a digital banking experience with 55 million verified digital users. Serving customers throughout the U.S. and its territories, as well as 35 countries around the world, Bank of America is a publicly traded company on the New York Stock Exchange under the ticker symbol BAC. The institution has a market capitalization of $250 billion.

Photo by Pixabay

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Square Taps Visa for Instant Transfers in Canada

Square Taps Visa for Instant Transfers in Canada
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Daily news, VISA
  • Visa is expanding its integration with Square’s instant transfer feature into Canada.
  • Square’s Canadian merchant clients can access their funds in real time, instead of waiting for the next business day.
  • Instant transfers are enabled by Visa Direct, a VisaNet processing capability that facilitates real-time delivery of funds.

One of the themes at FinovateFall earlier this month was how organizations can leverage real time data. When it comes to the movement of money, timing is everything. So it’s no surprise to see Visa’s announcement this week that it will expand its integration with Square’s instant transfer feature into Canada.

Under the new integration, Square’s Canadian merchant clients can now access their funds faster than the next business day. When they link an eligible debit card, Square’s Canada-based merchant clients can transfer funds instantly to an external bank account.

Used for rapid merchant settlement, Square’s instant transfers are enabled by Visa Direct, a VisaNet processing capability that facilitates real-time funds delivery directly to bank accounts. As a result, businesses experience increased cash flow, which can be a major pain point, especially for small businesses.

“Cash flow management and more immediate access to funds is critical for small businesses to survive and thrive in a rapidly evolving payments ecosystem,” said Visa Canada’s VP and Head of New Payments Jim Filice. “Together with Square, we’re committed to supporting Canadian small businesses and helping to identify solutions that can benefit them by delivering fast, reliable and secure access to funds.”

Photo by Laura Tancredi

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Ethoca and ChargebackZero Team Up to Help Merchants Minimize Chargebacks

Ethoca and ChargebackZero Team Up to Help Merchants Minimize Chargebacks
By David Penn Posted on
Categories: Alumni News, Daily news, Ethoca, MasterCard
  • Ethoca announced a partnership with India’s ChargebackZero to help merchants eliminate chargebacks.
  • The collaboration will integrate Ethoca’s chargeback alert technology into ChargebackZero’s Intelligent Dispute Prevention & Management Solution (iDPMS).
  • Ethoca made its Finovate debut in 2015 at FinovateFall. The company was acquired by Mastercard in 2019 for an undisclosed sum.

Ecommerce fraud and chargeback prevention company Ethoca has teamed up with India-based ChargebackZero to help merchants minimize chargebacks. The partnership will also bring greater transparency to consumer transactions, and make it easier for merchants to share the details of confirmed fraud and dispute incidents.

The collaboration will enable merchants to rely on a chargeback alert system that notifies them in the event of an impending chargeback. Notifications are made via the ChargebackZero dashboard, which combines a variety of alert types from card issuers with ChargebackZero’s dispute management tools. The alerts allow merchants to identify and revolve customer disputes with the customer’s issuing bank in near-real time. By preventing chargebacks, including chargebacks that occur post-authorization, the partnership will make it easier for merchants to accept more orders without increasing their exposure to potentially fraudulent activity.

Ethoca offers a suite of solutions to help merchants and issuers eliminate chargebacks, reduce card not present (CNP) fraud, recover lost revenue, and improve the customer experience with a better dispute resolution process. Ethoca’s Consumer Clarity solution connects issuers to merchant order and account history details in real time. This gives issuer call center agents with the data they need to manage real-time conversations with cardholders when disputes arise. Ethoca also offers its Ethoca Alerts technology, which provides issuers and card-not-present merchants with access to a global collaboration network that enables them to share fraud and customer dispute data in real time, rather than in weeks as is normally the case with chargebacks.

Headquartered in Toronto, Ontario, Canada, Ethoca made its Finovate debut at FinovateFall in 2015. In the years since then, the company has inked partnerships with fellow Finovate alum TSYS, as well as Pegasystems, BlueSnap, and Cartes Bancaires. Ethoca agreed to be acquired by Mastercard in the spring of 2019 for an undisclosed sum. Calling Mastercard “a natural home,” Ethoca CEO Andre Edelbrock said the acquisition would “bring our services to more places and more people, ultimately contributing to the beset possible online payment experience.”

Ethoca serves more than 5,400 merchants in 40+ countries and more than 4,000 card issuers in more than 20+ countries. Eight of the top ten North American ecommerce brands, 14 of the top 20 North American card issuers, and six of the top ten U.K. card issuers use Ethoca’s technology to eliminate chargebacks, prevent fraud, and recover lost revenue.

Photo by Pixabay

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Taulia and Standard Chartered Team Up to Collaborate on Working Capital Finance

Taulia and Standard Chartered Team Up to Collaborate on Working Capital Finance
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Daily news, Standard Chartered Bank, Taulia
  • Taulia and Standard Chartered signed a Memorandum of Understanding to collaborate on working capital finance solutions.
  • The partnership will initially focus on supply chain finance and dynamic discounting.
  • The agreement will offer Taulia access to Standard Chartered’s global client base.

Supply chain finance company Taulia has inked an agreement with Standard Chartered this week. The agreement comes in the form of a Memorandum of Understanding (MoU) to collaborate across a range of working capital finance solutions.

The two will begin by focusing on supply chain finance and dynamic discounting, two solutions that Taulia offers to buyers. Taulia will use its expertise in this area, combined with Standard Chartered’s global client base, to help clients build a more resilient and sustainable supply chain.

Ultimately, the partnership aims to enable suppliers to access working capital in a more efficient and cost effective manner.

“We are excited to work with Taulia to explore new and innovative ways to support our clients’ working capital needs, as well as extending the Bank’s leading sustainable trade expertise into their business network,” said Standard Chartered Global Head of Trade & Working Capital Kai Fehr. “Taulia’s footprint also complements that of the Bank, offering greater opportunities for us to support companies in the West with their supply chain flows into Asia, Africa and the Middle East.”

Taulia was founded in 2009 to help businesses improve their supply chains by providing financing options with flexible payment terms. Used by a network of two million organizations, the company’s tools help businesses accelerate payments and free up working capital. Taulia processes over $500 billion every year. Among Taulia’s clients are Airbus, AstraZeneca, Nissan and Vodafone.

Taulia was acquired by SAP earlier this year and today’s agreement marks the first MoU that Taulia has signed with a banking institution post-acquisition. Taulia anticipates that having the backing of SAP will help it access further opportunities across SAP’s ecosystem and deliver a differentiated experience for both buyers and suppliers.

“We believe that all CFOs should focus on their cash strategy to ensure growth during these turbulent times and our partnership with Standard Chartered will deliver cash when and where it is needed, especially in emerging markets,” said SAP Head of Working Capital Management CoE and member of the Taulia Leadership Team Thomas Mehlkopf.

Photo by Tiger Lily

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Stash Launches its New Infrastructure Platform, Stash Core

Stash Launches its New Infrastructure Platform, Stash Core
By David Penn Posted on
Categories: Alumni News, Daily news, Stash
  • Investing and banking services fintech Stash unveiled its new infrastructure platform, Stash Core, this week.
  • Stash’s new banking account experience is the first new solution built on Stash Core. Credit, savings, and lending solutions are expected to be launched in the future.
  • Stash Core features integrations from a wide number of partners including fellow Finovate alums Mastercard, Marqeta, Mambu, and Alloy.

With its latest innovation, investing and banking company Stash is bringing to market a new proprietary infrastructure platform, Stash Core. The offering supports Stash’s new banking account experience now, and will enable new capabilities in credit, savings, and lending in the future.

“Stash Core gives us flexibility and ownership of every customer touchpoint,” Stash co-founder and CEO Brandon Krieg said. “It’s the future of inclusive finance and transformative to our business.”

Stash’s new banking account experience is built on the Stash Core and provides access to an upgraded Stock-Back Debit Mastercard, enhanced customer support, and benefits such as increased rewards. Stash’s Stock-Back Debit Mastercard gives cardholders the ability to invest in stocks every time they spend on gas, groceries, travel, dining, and more. The company notes that it has provided more than 59 million stock rewards to date and, going forward, will allow cardholders to earn up to 4x more with their new upgraded cards.

“With Stash Core and the Stock-Back Debit Mastercard, we are able to deliver the very best in financial tooling, customer service, and AI-powered, personalized wealth-building for those who want to earn stock and invest as they spend,” Krieg said.

Teased at FinovateFall in New York earlier this month, Stash’s new solution benefits from integrations with Mastercard, Stride Bank, Marqeta, Mambu, Alloy, and others. In an extended blog post, the Stash team described the decision-making that went into the development of Stash Core. The discussion highlighted the importance of building an infrastructure that would enable Stash to “more quickly innovate and introduce new products and services faster” to provide the best possible customer experience.

With more than two million customers and nearly $3 billion in assets under management, Stash helps individuals embark upon their investing journey with as little as $3 per month. Offering a suite of financial products ranging from investing and banking to education and advice, Stash reports that its members are 18% more financially literate than the average American. The company experienced $125 million in annualized revenue in the past year, and announced that weekly contributions have climbed by 30% over the past two years.

Founded in 2015, Stash made its Finovate debut at FinovateFall 2017. In the years since then, the company has secured more than $347 million in funding, forged partnerships with companies from Apex Clearing to the San Francisco 49ers National Football League team, and acquired financial literacy app, PayGrade.

Photo by Pixabay

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Cinchy Launches Credit Union Edition of its Dataware Platform

Cinchy Launches Credit Union Edition of its Dataware Platform
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Cinchy, Daily news
  • Data firm Cinchy unveiled the Credit Union Edition of its Cinchy Dataware Platform today.
  • The solution is made specifically to help credit unions easily access and leverage their data without having to replace their core banking system.
  • Cinchy won Best of Show for its demo at FinovateFall 2019.

Data access and control firm Cinchy unveiled a credit union-specific solution today. The company is launching The Credit Union Edition of its Cinchy Dataware Platform to help credit unions extend the life of their core systems, avoiding the need to replace their existing core with a new one.

The new solution enables credit unions that are currently constrained by their core banking systems. Many of the outdated systems result in siloed data, which makes it difficult for the credit union to leverage their data to create better systems, an improved user experience, and cost savings.

Cinchy’s calls the capability “liberating data.” Today’s new launch enables credit unions to access their data in three ways. First, with real-time data from core banking system and applications without the need for copy-based integration. Second, with tools including auto-versioning, auto-backup, auto-protection, auto-correction, and auto-tracking. And third, with user accessibility that allows for instant collaboration.

“At Cinchy our goal is to enable organizations to save money by liberating and controlling their data in ways that were not previously possible,” said Cinchy CEO Dan DeMers. “Today we’re making this a reality for credit unions with the introduction of the Cinchy Dataware Platform Credit Union Edition.”

Founded in 2017, Cinchy leverages data fabric to help banks access data from apps and other silos and assemble it within an easy-to-access data network. Among the company’s clients are TD bank, Colliers International, AIS, and Natixis. Cinchy has been named a Deloitte Technology Fast 50 Company to Watch and a Top Growing Canadian Company by The Globe and Mail. The company most recently demoed at FinovateFall 2021 and won best of show for its demo at FinovateFall 2019.

Photo by Markus Spiske

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Inovatec Partners with Real-Time Risk Decisioning Specialist Provenir

Inovatec Partners with Real-Time Risk Decisioning Specialist Provenir
By David Penn Posted on
Categories: Daily news
  • Provenir announced a new partnership with Inovatec Systems.
  • The partnership will enable auto lenders on Inovatec’s LOS platform to access Provenir’s risk decisioning solutions
  • Headquartered in New Jersey, Provenir has forged partnerships with TransUnion, Kueski, and Provu in recent months.

Real-time risk decisioning software company Provenir announced a new partner today. The Parsippany, New Jersey-based technology company has inked a deal with Canadian lending software firm Inovatec Systems that will give Inovatec’s roster of automobile lenders new tools to improve the financing process.

“Inovatec’s configurable loan origination and loan management solutions efficiently support third party solutions that improve the speed, reliability, and efficiency of the entire lending process,” Inovatec Head of Business Development Bob Metodiev said. Courtesy of the new relationship, auto financing companies working with Inovatec will be able to leverage open APIs to access Provenir’s AI-powered decisioning solutions – which are embedded into Inovatec’s LOS platform. Combined with Provenir’s technology, the enhanced solution will help lenders make smarter automated decisions while providing an optimal experience for the customer.

“Through the unique combination of universal access to data, simplified AI and world-class decisioning technology, Provenir provides a cohesive risk ecosystem that enables organizations to make smarter decisions instantly across the entire customer lifecycle,” Provenir EVP for North America Kathy Stares said.

Provenir offers a data, AI, and decisioning platform that leverages the cloud and no-code technology to enable businesses to build advanced decisioning workflows, integrate any data source, and deploy AI and machine learning models. The technology is applicable to a wide variety of contexts – from BNPL, SME lending, and auto financing, to retail POS lending, digital merchant onboarding, and bank loan origination.

Founded in 2004, Provenir was a Gold sponsor of FinovateEurope earlier this year, where the company’s Carol Hamilton, SVP of Global Solutions, spoke as part of a panel on “Achieving Digital Acceleration – What Do Incumbents Need to Do?” In the months since then, the company has announced partnerships with TransUnion, Mexico-based lender Kueski, and its first Brazilian customer, payments and personal credit fintech Provu. Provenir also announced today that it is expanding its presence in Spain. Join Provenir’s Corinne Llelti next week for a special digital presentation exclusive to Finovate – “Driving World Class SME Lending Experiences.”

Photo by Pixabay

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Agora Data Receives $100 Million Credit Facility

Agora Data Receives $100 Million Credit Facility
By Julie Muhn (@julieschicktanz) Posted on
Categories: Daily news, Funding
  • Agora Data received a $100 million revolving credit facility from Credit Suisse.
  • The company anticipates the funds will help it expand how it delivers capital to loan originators who offer in-house financing.
  • The news comes just under a year after Agora Data unveiled its reducing rate line of credit.

Auto lending technology company Agora Data announced today it received $100 million in financing. The funds come in the form of a revolving credit facility from Credit Suisse.

Agora Data, which helps non-prime borrowers obtain credit, anticipates the funds will help it expand how it delivers capital to loan originators who offer in-house financing solutions. The company offers auto dealers competitive financing and tools such as AI and machine learning modeling. Ultimately, Agora Data helps lenders build loan portfolios with high predictability and improved performance when lending to non-prime customers.

The company also offers AgoraInsights, a product that helps dealers maximize portfolio performance, reduce risk, and manage cashflow.

“This $100 million credit facility adds to Agora’s other capital strategies and is the latest of many strategic steps that support the expansion of our core mission to provide highly accurate loan performance data and low-cost capital to auto dealers who serve the non-prime buyer,” said Agora Data CEO Steve Burke.

Since the company was founded in 2017, Agora Data has closed multiple crowdsourced securitizations using its AI and machine learning algorithms. Last year, the company launched a reducing rate line of credit offering. The interest rate on this credit offering reduces over time, provides the borrower with the flexibility to draw cash as they need it, and does not charge origination or unused line fees.

Photo by Sarmad Mughal

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CNote Raises $7.25 Million in Series A Funding Round to Help Boost ESG Investing

CNote Raises $7.25 Million in Series A Funding Round to Help Boost ESG Investing
By Julie Muhn (@julieschicktanz) Posted on
Categories: Daily news, Funding
  • CNote closed $7.25 million in Series A funding.
  • The round was led by American Family Insurance Institute for Corporate and Social Impact.
  • The investment brings CNote’s total funding to almost $15.5 million.

Investment platform CNote raised $7.25 million today in a round that boosted the company’s total funds to almost $15.5 million.

The Series A round was led by American Family Insurance Institute for Corporate and Social Impact. Astia Fund, BankTech Ventures, Commerce Ventures, CityRock Venture Partners, and other investors also contributed. 

The company plans to use the funds to advance its technology, expand its sales team, and deepen its network of community financial institutions.

CNote was founded in 2016 to close the wealth gap by enabling investors to invest in an economy that works for all populations, especially those in underserved communities. Using the CNote platform, corporations, institutions, and individuals can invest in fixed-income and time deposit products that are vetted to help advance economic equality, racial justice, gender equity, and climate change adaptation. When an investor places funds into CNote, the company directs the money into deposit and loan products through its network of over 2,000 ESG-focused community financial institutions.

“We’re addressing a massive systemic problem with a market-friendly platform that has already been adopted by forward-thinking corporations and other institutions,” said CNote CEO and Founder Catherine Berman. “By pumping hundreds of millions of dollars into undercapitalized communities, CNote is activating corporate dollars for systemic change while minimizing risk.”

Seeing an investment in an ESG-focused company is not surprising, despite the current funding dry spell taking place across the fintech industry. End consumers are more hungry for ESG-related products than ever, and the industry has been struggling to keep up with demand in this arena. We can expect to see more funding go toward companies touting ESG missions in the latter half of this year.

Photo by David Alberto Carmona Coto

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Novatti Group Turns to ThetaRay to Enhance AML Oversight of Global Payments

Novatti Group Turns to ThetaRay to Enhance AML Oversight of Global Payments
By David Penn Posted on
Categories: Alumni News, Daily news, ThetaRay
  • Novatti Group has partnered with transaction monitoring company ThetaRay.
  • Novatti will deploy ThetaRay’s SONAR technology to defend its global payments business from money laundering and other financial crime.
  • A Finovate alum since 2015, ThetaRay has secured partnerships with companies ranging from Travelex Bank to fellow Finovate alum Payoneer.

Business payments enabler Novatti Group has partnered with AI-powered transaction monitoring specialist ThetaRay to defend its global payments operations against money laundering and other financial crimes. Novatti Group will deploy ThetaRay’s SaaS-based SONAR technology, a solution that leverages AI to detect the earliest indications of money laundering activity. SONAR will monitor hundreds of thousands of transactions a year for Novatti Group, enabling the company to ensure that its processed transactions are fraud-free without sacrificing quality of service.

Group GM of Risk, Legal, and Compliance at Novatti Group Evangelia Pefkou said the company selected ThetaRay for both its efficient technology as well as its ability to scale. “It is a true AI-based solution that effectively prevents financial crime – including unknown and hidden money laundering – with high detection rates and low false positives,” Pefkou said.

Headquartered in Israel, ThetaRay made its Finovate debut at FinovateFall in 2015. In the years since then, the company has brought its transaction monitoring technology to partners including Travelex Bank, PMI Americas, Qolo, as well as fellow Finovate alum Payoneer. ThetaRay’s combination of AI and machine learning has resulted in a transaction monitoring solution that delivers a 50% boost in efficiency, 99% reduction in false positives, and 100% coverage for all known money laundering risks. The company’s technology has enabled businesses to confidently partner with entities in countries and segments that are considered high-risk.

“SONAR detects even the newest and most sophisticated criminal schemes,” ThetaRay CEO Mark Gazit said. “Novatti will be able to simultaneously establish new relationships to grow global business, increase revenues, and improve customer service.”

Founded in 2013, ThetaRay has raised more than $112 million in funding from investors such as Jerusalem Venture Partners, Benhamou Global Ventures, and ABN AMRO Ventures.

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Business Spending Tool Pleo Taps Yapily for Open Banking Payments

Business Spending Tool Pleo Taps Yapily for Open Banking Payments
By Julie Muhn (@julieschicktanz) Posted on
Categories: Daily news
  • Small business spending solution Pleo and open banking provider Yapily have formed a partnership.
  • Under the agreement, Pleo will leverage Yapily Payments to enable account-to-account payments for its small business clients.
  • Pleo will begin rolling out the new service to its business clients in the Netherlands and France in the coming months.

Small business spending solution Pleo has teamed up with open banking provider Yapily this week.

Pleo is leveraging Yapily Payments, a tool that enables direct account-to-account payments. And because Yapily uses open banking, it does not use card rails, which ultimately cuts out middlemen and limits fees. Yapily covers 19 countries and has more than 1900 institutions integrated with its open banking infrastructure.

Pleo was founded in 2015 and enables small businesses to tackle invoices, issue reimbursements, give their employees payment cards for work-related expenses. The company’s spending solution offers small businesses control over employee spend and provides visibility into their expenses.

Yapily Payments will enable Pleo users to top up their Pleo account directly from their bank account. This direct connection offers two major benefits– it offers instant payments and decreases the risk of card fraud and human error. “Manual processes, settlement periods, and bottlenecks in cash flow are all avoidable obstacles,” said Pleo Chief Product Officer Olov Eriksson. “We want to enable our users to focus on what really matters: growing their business and empowering their people.”

Pleo will begin offering customers the new capability in a gradual rollout “over the coming months.” The service will be made available starting in the Netherlands and France. The bank account to-up capability is just the start of Pleo’s partnership with Yapily. Pleo also plans to leverage more of Yapily’s payments solutions in the future.

Yapily was founded in 2017 and offers API-based tools to enable the connection between banks and third party fintechs. Last month, the U.K.-based company launched Variable Recurring Payments, a tool that allows merchants and service providers to offer recurring payments of varying amounts without having to re-authenticate for each transaction.

Photo by Ketut Subiyanto

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Credix Raises $11.3 Million for Decentralized Credit Marketplace

Credix Raises $11.3 Million for Decentralized Credit Marketplace
By Julie Muhn (@julieschicktanz) Posted on
Categories: Daily news, Funding
  • Decentralized credit platform Credix raised $11.25 million in funding.
  • The Series A round was led by Motive Partners and ParaFi Capital and boosts Credix’s total funding to $13.8 million.
  • Credix will use the funds to enhance platform development, increase staff, and integrate with Web3 projects.

Decentralized credit platform Credix raked in $11.25 million today. The Belgium-based company’s Series A funding round was led by Motive Partners and ParaFi Capital with contributions from Valor Capital, MGG Bayhawk Fund, Victory Park Capital, Circle Ventures, Fuse Capital, and Abra.

Credix will use the funds to boost platform development, increase staff, and integrate with Web3 projects.

The round follows Credix’s December 2021 Seed round and brings the company’s total funding to $13.8 million. Company CEO Thomas Bohner described the round as the “next major step” in bringing Credix’s protocol and platform for credit investing to investors.

Credix launched last year to develop a credit platform that matches institutional investors and fintech lenders, bridging DeFi and real-world assets. The company enables finfech companies and non-bank lenders to convert their receivables and real assets into investment capital. Credix leverages USDC and smart contracts to offer instant settlement and transparency. 

Since its launch, Credix has gone live in Brazil and has originated more than $23 million active loans in in the past six months. The company will launch in additional geographies “soon.”

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