Fintech Rundown Archives

Fintech Rundown: A Rapid Review of Weekly News

By David Penn Posted on January 13, 2025
Categories: Fintech Rundown, Fiserv, Insuritas, NCR Corporation

The week begins on the Fintech Rundown with news of product launches and new investments, as well as an acquisition in the digital banking space and a handful of partnerships in payments.

Be sure to check back all week long for the latest updates.

Financial wellness

Collaborative savings platform StepLadder forges a strategic partnership with Swedish Savings Circle solution, Cirkly.

Current account provider nsave launches its new investment product and announces EUR 17.5 million in funding.

Payments

Spanish bank Unicaja inks payments partnership with Fiserv.

Open banking payments network TrueLayer partners with payments orchestration platform BR-DGE.

Airwallex teams up with Carwow to enhance payment processing for enterprise dealer groups.

GooglePay is set to go live in Pakistan by March 2025.

ACI Worldwide appoints Philip Bruno as Chief Strategy and Growth Officer.

Lending and credit

Prosperity Bank selects AKUVO collections platform to support growth.

Digital banking & infrastructure

nbkc bank selects NCR Atleos Allpoint to make self-service banking more accessible to its customers.

Banking Circle agrees to acquire Australian Settlements Ltd. (ASL).

Sage Capital Bank selects Apiture to power digital banking.

NCR Atleos announces Chief Financial Officer transition.

Fraud and security

KYB verification startup Arva AI raises $3 million.

Mortgagetech

Chimney doubles its growth in 2024, now serves 150+ financial institutions nationwide.

Accounting & tax

AccountsIQ acquires ExpenseIn to solidify its finance software offering.

Corcentric launches enhanced international tax management engine for accounts payable customers.

Open banking

Square partners with Salt Edge to offer open banking capabilities to U.K.-based SMEs.

Insurtech

Texas-based Extraco Banks teams up with Insuritas to manage and scale its Extraco Insurance Agency.

Regtech

Financial crime compliance solutions provider AML RightSource introduces new CEO Steve Meirink.

Crypto & Defi

Garanti BBVA Crypto appoints new CEO Onur Güven.

Customer communications

FCCI Insurance Group taps Glia Call Center and Digital Customer Service.

Photo by Jess Bailey Designs

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Fintech Rundown: A Rapid Review of Weekly News

By Julie Muhn (@julieschicktanz) Posted on January 6, 2025
Categories: Fintech Rundown

Welcome to the first full week of the new year. Here’s a quick catch-up of the latest fintech news to help you hit the ground running this week.

DeFi

OCBC Bank introduces tokenized bonds for accredited investors.

FalconX acquires Arbelos Markets to expand its global derivatives footprint.

Frax launches new stablecoin that’s backed by the BlackRock’s USD Institutional Digital Liquidity Fund and tokenized by Securitize.

Business banking tools

Standard Chartered’s fintech investment arm SC Ventures launches a small business invoicing and billing platform called Labamu.

Elite acquires B2B payments platform Tranch to transform billing and payment processes for law firms.

Cards & payments

Tietoevry Banking secures European Payments Council registration for routing and verification services.

Paysafe expands payment options business to Brazil.

Tradition Capital Bank partners with CorServ for improved credit cards.

Lending & credit

Japan’s SBI Holdings Inc. agreed to take a stake of more than 70% in Solaris SE.

Union Credit partners with MeridianLink to simplify lending and grow credit union membership.

AKUVO names William Coffey Chief Risk and Data Officer.

Photo by Andre Morgan

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Fintech Rundown: A Rapid Review of Weekly News

By David Penn Posted on January 2, 2025
Categories: Fintech Rundown

2025 is here! Whether you’ve kept an eye on the fintech headlines over the holiday break or took a little time off from the fray, Finovate’s Fintech Rundown is here to bring you up to date on the latest happenings and developments in fintech and financial services.

We starting off with a handful of stories from the crypto/DeFi sector including a pair of regulatory approvals, as well as some partnership news in the fraud prevention and digital banking space.

Crypto / DeFi

Blockchain and cryptocurrency infrastructure provider Binance wins regulatory approval from the Central Bank of Brazil to acquire a locally licensed broker-dealer in Latin America.

Crypto payments company MoonPay secures approval under the Markets in Crypto-Assets (MiCA) regulation and received its license on December 30.

Digital banking

Swedish fintech Doconomy forges a new partnership with European bank KBC.

Fraud prevention

Payments provider PXP Financial collaborates with Dispute Help to launch a pair of new fraud prevention solutions.

Small business services

Workforce management and business support solutions company Employer.com to acquire accounting startup Bench.

Photo by Sami TÜRK

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Fintech Rundown: A Rapid Review of Weekly News

By David Penn Posted on December 23, 2024
Categories: Apiture, Featurespace, Fintech Rundown, Fiserv, Scalable Capital, SoFi, VISA

It’s a holiday-shortened week here at the Fintech Rundown. But rest assured that we’ll have you covered on the the top fintech news headlines as 2024 moves toward a close.

We’re starting off with a series of stories in the embedded finance front, including an acquisition, a new launch, and a major fundraising.

Digital banking

Data-driven statement provider HC3 forges strategic partnership with digital banking solutions company Apiture.

TBC Uzbekistan raises $37 million from majority shareholder TBC Bank Group.

Payments

Visa completes its acquisition of Featurespace.

Turkey-based private bank İşbank expands its collaboration with Alipay+.

Cybersecurity

Chainalysis acquires web3 security solutions provider Hexagate.

Embedded finance

Fiserv boosts its embedded finance capabilities with its acquisition of earned wage access company Payfare.

Embedded SME lending platform CredibleX raises $55 million in seed funding.

Kobble, an embedded finance platform, launches in Australia.

Wealth management

Scalable Capital launches its World ETF, the Scalable MSCI AC World Xtrackers UCITS ETF.

Financial wellness

SoFi reaches ten million member milestone.

Photo by Daniel Reche

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Fintech Rundown: A Rapid Review of Weekly News

By David Penn Posted on December 16, 2024
Categories: Fintech Rundown, FIS

Winter officially begins at the end of the week for many of us, and the seasonal, end-of-year holidays are right around the corner.

This week in the Fintech Rundown we start off with news of a major acquisition in the supply chain finance space, and a handful of fundraisings in fields ranging from wealth management to crypto.

Payments

FIS agrees to acquire supply chain finance platform Demica in a deal estimated to be worth $300 million.

Mastercard partners with Riyad Bank subsidiary Jeel to promote payment modernization in Saudi Arabia.

Card.com collaborates with Visa to introduce Visa Direct Cross-Border payments.

MessagePay and AKUVO partner to infuse collections with advanced payment technology.

Pioneer FCU selects Payfinia’s Instant Payment Xchange for real-time payments.

Wealth management

U.K.-based investment platform WiseAlpha enables retail investors to buy and sell corporate bonds.

Jiko raises $29 million in Series C funding to power its platform that gives investors access to U.S. Treasury bills.

B2B wealthtech platform Allfunds unveils its AI-powered navigation assistant, ANA.

Personal finance management

U.S.-based PFM app Current secures $200 million in funding from Andreessen Horowitz, Wellington Management, Avenir, General Catalyst, and Cross River.

Crypto / DeFi

Nigeria-based, cross-border stablecoin company Juicyway locks in $3 million in pre-seed funding.

Cryptocurrency exchange Bitget looks to establish a regional European hub in Lithuania.

Ripple launches RLUSD Stablecoin after landing NYDFS approval.

Digital banking

TBC Uzbekistan launches its digital-only business banking platform.

Raisin U.K. teams up with Salt Edge to enhance open banking compliance and customer experience.

Tyme Group receives $250 million in a Series D round led by NuBank’s Nu Holdings.

Plinqit surpasses $2 billion in deposits.

Insurtech

CU Financial Group and insurtech company Sure introduce SimpleQuote, a digital insurance solution for credit unions.

Photo by Brigitte Tohm

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Fintech Rundown: A Rapid Review of Weekly News

By Julie Muhn (@julieschicktanz) Posted on December 9, 2024
Categories: Fintech Rundown, ThetaRay

With only two more weeks before the holiday season and 2025 take over the calendar, let’s make this one count. Last week’s news cycle was rife with funding and M&A activity. Will this week bring the same? Stay tuned to find out. We’ll add the latest fintech news throughout the week as the space evolves.

Digital banking

Revolut applies for NZ banking license.

SBS (formerly Sopra Banking Software) partners with Red Hat to accelerate digital transformation for financial institutions.

audax and Tuum partner to accelerate digital transformation for financial institutions.

Wealthtech

German wealthtech startup NAO raises €3.4 million to make private investments more accessible across Europe.

Payments

Paytm sells PayPay stake to SoftBank for $279.2 million.

U.K.-based paytech platform Blink Payment inks partnership with enterprise resource planner (ERP) Business Pilot.

Blink Payment partners with Business Pilot to tackle installer industry late payments.

Fraud, security, and authentication

BioCatch integrates with Q2’s digital banking platform.

TurboCheck partners with biometric identity verification and authentication solutions provider authID.

Courtesy of its collaboration with Microsoft, ThetaRay launches its GenAI Financial Crime Detection Suite.

Business financial management

Swedish spend management solutions company Mynt raises $23 million (€22 million).

Insurtech

Brethren Mutual Insurance Company implements ClaimsPay from digital payments platform for the insurance industry, One Inc.

Photo by Matt Popovich on Unsplash

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Fintech Rundown: A Rapid Review of Weekly News

By David Penn Posted on December 2, 2024
Categories: Coinbase, Fintech Rundown, Themis

This week in Finovate’s Fintech Rundown, we highlight big fundraisings in wealthtech and mortgagetech, as well as an acquisition in the world of money movement. Check back all week long as the Fintech Rundown keeps you informed on the latest news in fintech!

Wealth management

Global wealthtech solutions provider Masttro announces upgrades to its platform, including real-time wealth visualization and AI-powered efficiency.

Mitsubishi UFJ Financial Group (MUFG) agrees to acquire Japanese robo-advisory firm WealthNavi for $664 million.

Cryptocurrencies

Taiwan expedites implementation of its new Anti-Money Laundering (AML) regulations for cryptocurrency companies.

Coinbase elects to withdraw its pre-application to enter the Turkish market, citing regulatory concerns.

Digital banking

Lumin Digital secures $160 million in growth funding.

Mortgagetech

U.K.-based digital savings and mortgage platform Tembo raises $17.8 million (€16.8 million) in Series B funding to support first-time homebuyers.

Payments

Digital payroll company Deel acquires U.K.-based money transfer firm Atlantic Money.

Razorpay teams up with the Ministry of Home Affairs (MHA) and the Indian Cyber Crime Coordination Centre (I4C) to boost cybersecurity for digital payments in India.

Mollie and PayPal join forces to enhance marketplace payments in Europe.

Greenlight launches child safety alerts and location sharing tools to its Infinity family plan.

GNC brings Early Warning Services’ Paze to its online checkout.

East of England Co-op extends its relationship with NCR Atleos to provide ATMs through the Cashzone Network across its stores.

Red River Bank selects Allied Payment Network to expand digital payments offerings.

Insurtech

Embedded solutions provider YAS teams up with QBE Hong Kong to offer Pay-As-You-Sell product liability insurance for ecommerce merchants.

Aviva strikes five-year partnership with NatWest to distribute its insurance solutions through NatWest U.K.’s retail banking brands.

Luma Financial Technologies partners with Advantage Insurance Network to enhance annuity and life insurance access.

Fraud and security

Finovate Best of Show winner Themis launches KYC/AML company, Tathabbat, in Saudi Arabia. Check out our recent Finovate podcast interview with Themis Founder and CEO Neepa Patel.

Revolut selects Metomic to enhance SaaS data security across its SaaS environment.

Middesk launches Address Risk Insights to help reduce risk and boost KYB compliance.

Business financial management

KPay raises $55 million in Series A funds.

Data analytics and management

ACERA taps Clearwater Analytics to transform data validation and simplify total plan reporting.

SOLO lands funding from BankTech Ventures to transform credit underwriting for banks.

Lending, credit, and underwriting

Shastic partners with MeridianLink to provide AI workflow automation for banks and credit unions.

Photo by David Dibert

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Fintech Rundown: A Rapid Review of Weekly News

By David Penn Posted on November 25, 2024
Categories: 10x Banking, Alloy, Boku, Envestnet, Fintech Rundown

A holiday-shortened week begins with news of an acquisition, a new partnership, and a new solution to enhance lender-borrower communication. Be sure to check back all week long for updates on the latest headlines in fintech.

Regtech

Regnology announces acquisition of VERMEG’s regulatory reporting business (fka Lombard Risk).

Payments

Payments company Boku forges partnership with Amazon Japan.

DoorDash partners with InComm payments to launch in-app gift card shopping experience.

Lending

Loan management solutions company Vergent LMS launches OmniaText, a new communication platform for banks, credit unions, and consumer finance lenders.

Identity verification

Alloy partners with fellow Finovate alum 10x Banking, enabling its customers to access Alloy’s identity and fraud prevention platform.

Sustainability

Business finance platform Tide unveiled an automated carbon impact calculator courtesy of a partnership with Connect Earth.

Business tools

Fiserv and ADP partner to streamline payroll and cash management for small businesses.

Wealth management

Bain Capital completes its acquisition of Envestnet.

Photo by fauxels

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Fintech Rundown: A Rapid Review of Weekly News

By David Penn Posted on November 18, 2024
Categories: Backbase, Daily news, Fintech Rundown, TransferTo

This week’s Fintech Rundown begins with a handful of stories about partnerships in wealth management and lending, as well as moves by banks to bolster their fraud prevention capabilities. Check back all week long for updates and more fintech news!

Wealth management & investing

1 fs Wealth, a global wealth intelligence provider, announces a strategic partnership with Apex Group.

OneChronos secures $32 million.

Lending & credit

Secured finance technology provider Lendscape teams up with Express Trade Capital.

Arc launches AI platform for private credit industry.

Fraud prevention

CommBank introduces three new security features on its app to help users defend themselves against scams.

Westpac unveils new resources — Westpac Verify and SaferPay — to make it easier for customers to report fraud.

Finix and Sift introduce advanced fraud monitoring, enabling no-code, AI-powered transaction security.

Digital banking

Vietnam’s Maritime Commercial Joint Stock Bank deploys Backbase’s Engagement Banking Platform.

Santander’s Openbank debuts in Mexico.

Crypto

Acuity Trading forges strategic partnership with multi-licensed broker, OneRoyal.

Xapo Bank introduces bitcoin beneficiary solution.

Payments & cards

TransferTo inks Memorandum of Understanding with pan-African financial institution, Ecobank Group.

Payment processing platform Solidgate launches its AI Dispute Representment solution to automate the dispute management process

Trust Payments introduces new Chief Executive Officer Laurence Booth.

U.S. Bank launches new travel booking platform for its cardholders to reserve hotels, flights and rental cars.

Priceline selects Affirm as its pay-over-time provider for Priceline Partner Solutions.

ValidiFI selected by PDI Technologies to Streamline Pay-by-Bank Enrollments with Consumer Choice.

PayPal to allow partners to use its stablecoin, PayPal USD, to settle cross-border money transfers made with Xoom.

ValidiFI selected by PDI Technologies to streamline pay-by-bank enrollments.

Worldpay partners with Mastercard to introduce virtual card program for travel agents.

Factor4 partners with InComm to deliver integrated gift card solutions.

Nayax launches automated self-service in El Salvador.

Pomelo launches secure international money transfer product.

Insurance

Luma Financial Technologies and iPipeline collaborate to streamline annuity and life insurance solutions for financial advisors and agents.

Small business financial management

Enigma launches small business financial health data on Databricks marketplace.

Fiserv and ADP team up to empower small business success.

Photo by Pixabay

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Fintech Rundown: A Rapid Review of Weekly News

By Julie Muhn (@julieschicktanz) Posted on November 11, 2024
Categories: Daily news, Fintech Rundown

The last couple of weeks have been full of merger and acquisitions. Will fintech continue its M&A streak this week? Stay tuned to find out. We’ll be adding the latest fintech news throughout the week as the space evolves.

Payments & cards

Tencent partners with Visa to bring palm payment to Singapore.

UBS pilots new blockchain-powered payment system.

FOMO Pay teams up with Mastercard to enable contactless card acceptance through FOMO SoftPOS.

Viamericas launches real-time domestic cash-to-account transfer service in the U.S.

FIS and Oracle enhance utility billing experience.

Zelle and LAFC “Saves for the Community” program raises over $100,000 for Latinos for Education.

Mesa launches premium credit card designed for homeowners.

Open banking

American Express and MX announce customer-permissioned data sharing agreement.

Business management tools

Procure-to-pay platform Vroozi appoints Dave Norton as President.

Agicap receives $48 million to grow its cash flow management platform.

Thomson Reuters expands partnership with Oracle with turnkey embedded e-invoicing capabilities.

Ascen taps workforce payments platform Branch to provide faster payment solutions for staffing firms.

ATMs and hardware

Coinstar launches digital wallet.

Travelex selects NCR Atleos to revamp ATMs.

Open banking

Fintech infrastructure company Lean Technologies secures $67.5 million in Series B funding.

Personal financial management

SmartBank lands $26 million for its personal finance management app.

Debt

National Debt Relief partners with Docsumo to fastrack debt settlements with AI.

Lending and credit

Sunbit secures a $355 Million debt warehouse facility led by J.P. Morgan, Mizuho Bank, and Waterfall Asset Management.

Credit risk solutions company Carrington Labs unveils integration with Salesforce Sales Cloud.

Regtech

Arcesium unveils new regulatory reporting solution.

Digital identity

Socure unveils Graph Intelligence Module to bring visibility into connections across its Network Identity Graph.

California DMV leverages AuthenticID’s identity verification technology to enhance its Mobile Driver’s License (mDL).

AU10TIX expands its presence in Bengaluru to support India’s digital identity transformation.

Insurance

Luma Financial Technologies expands into life insurance.

Photo by Vlada Karpovich

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Fintech Rundown: A Rapid Review of Weekly News

By David Penn Posted on November 4, 2024
Categories: Fintech Rundown, Salt Edge, Tink, VISA

It’s going to be hard to avoid the avalanche of news coverage of the U.S. Presidential election this week. But if you’re looking for a respite from the political headlines, Finovate’s Fintech Rundown is here for you! Be sure to check back all week long for the latest in fintech news.

Open banking

Financial API platform Salt Edge partners with Central Bank of Bahrain to enhance corporate banking with open banking.

Tink teams up with international money app Zing to launch automatic and one-tap top-ups leveraging open banking.

Digital banking experience platform Plumery announces partnership with payments and open banking solutions provider Payment Components.

Cryptocurrency / DeFi

Cryptocurrency exchange Bitget introduces a new contactless, P2P payment service, Bitget Pay, via its Bitget app.

Commercial Bank International, a UAE-based financial institution, inks a Memorandum of Understanding with digital asset platform Zumo.

Cryptocurrency platform Kraken appoints Stephanie Lemmerman as Chief Financial Officer.

Identity verification / fraud prevention

ID verification specialist iDenfy partners with O2Factoring to improve financial security for entrepreneurs.

U.K.-based Starling Bank unveils new solution to help customers defend themselves against bank impersonation scams.

E-commerce

E-commerce payment network Affirm launches its pay-over-time options in the U.K.

Lending

Document AI platform Ocrolus teams up with Merchant Cash Advance (MCA) origination and servicing platform LendSaaS.

Lending-as-a-service infrastructure company Finfra secures $2.5 million in funding to bring embedded lending solutions to SMEs in Indonesia.

Payments

European banking group Intesa Sanpaolo and Visa renew their strategic partnership to accelerate and support the growth of digital payments.

Integrated payments and commerce technology company Shift4 announces new partnership with payments platform ConnexPay.

Personal Finance

BMO partners with Personetics to help customers reach personal savings goals.

Photo by Tara Winstead

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Fintech Rundown: A Rapid Review of Weekly News

By David Penn Posted on October 28, 2024
Categories: Bluefin, Fintech Rundown, Marqeta, MasterCard

Halloween is right around the corner. But have no fear of being out of the loop when it comes to the latest in fintech news — Finovate’s Fintech Rundown has you covered!

Insurtech

Scotland-based insurtech Broker Insights launches in the U.S.

Payments

Mastercard introduces Bill Qkr to streamline billpay for merchants.

Payment orchestrator Yuno unveils Payout, a new feature that enables management of both pay-outs and pay-ins from within a single solution.

Pinwheel launches new subscription management tool, Bill Navigator.

Bluefin and Sycurio announce a strategic partnership to enhance payment security.

Earned wage solutions provider DailyPay secures $100 million from Citi to bolster its secured credit facility.

Identity management and verification

Cross-border payments infrastructure company Nium launches a real-time bank account verification solution, Nium Verify.

Lending

Card issuing platform Marqeta launches embedded Buy Now, Pay Later solution, Marqeta Flex.

Deposit and loan origination software solutions provider Amount introduces its AI Policy Optimizer to enhance credit, pricing, and fraud policy management.

Cryptocurrencies

Cryptocurrency exchange Bitstamp secures a MiFID Multilateral Trading Facility (MFF) license.

Digital banking

U.K.-based banking group Lloyds unveils new Link pay capability in its mobile banking app.

Photo by Yaroslav Shuraev

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