Fintech Rundown

Fintech Rundown: A Rapid Review of Weekly News

Fintech Rundown: A Rapid Review of Weekly News
By David Penn Posted on
Categories: Backbase, Fintech Rundown, Marqeta, Plaid, Trulioo, Wise

Fall is officially here! A favorite season for many, autumn also marks a likely acceleration in fintech and financial services news and activity. Be sure to check Finovate’s Fintech Rundown all week long for the latest in headlines and news updates!

Open banking

PNC Financial Services and Plaid sign data sharing agreement.

Cryptocurrency

CheckSig offers Italy’s first crypto staking service that integrates tax management.

Fraud prevention and digital identity

Financial crime risk management solutions provider Hummingbird acquires no-code integration and automation specialist LogicLoop.

Nasdaq Verafin announces enhancements to its Targeted Typology Analytics suite to add detection capabilities for terrorist financing and drug trafficking activity.

Trulioo and Airwallex expand global partnership.

Lending

Digital origination and decisioning technology company Amount launches new SMB lending and deposit account opening suite.

Canadian fintech KOHO partners with lending-as-a-service company Propel Holdings.

Forward Financing announces expanded $450 million credit facility.

Scotiabank expands partnership with Nova Credit to enhance digital credit access for newcomers across Canada.

Liberis launches new Flexible Cash Advance product to fund eBay sellers up to $2 million in the United States.

Multitude Bank and Salt Edge join forces to optimize loan repayment.

Payments

Worktech platform DailyPay adds new Savings feature to its DailyPay Visa Prepaid card.

Payments solution provider for the transportation industry, AtoB, secures $130 million in equity and debt financing.

Marqeta appoints Chief AI Officer.

DailyPay expands into the United Kingdom.

JPMorgan begins testing U.K. credit cards.

Cross River and Forward bring payouts-as-a-service to software developers.

Money transfer innovator Wise launches online invoicing tool for small businesses.

Cross-border payments platform dLocal announces an expansion of its partnership with Asia-based mobile wallet ShopeePay.

Credit unions

OneAZ Credit Union partners with Backbase for its Engagement Banking platform.

MANTL unveils business deposit origination for credit unions.

Wealth management and real estate

U.K.-based wealth manager Quilter acquires digital investment platform NuWealth.

Mesa raises $9.2 million for its homeowner membership platform.

Back office

Backbase unveils Intelligence Fabric to unlock AI-productivity gains for banks.

Insurtech

Zinnia partners with LPL Financial to streamline insurance fulfillment.

Business financial management

Marqeta and Found bring streamlined expense management offerings to SMBs and self-employed professionals.

Acrisure announces Robin Benoit as Chief People Officer.

Regtech

ValidMind launches ValidMind Advantage Program to bring trust and transparency to third-party AI model vendors.

Photo by Designecologist

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Fintech Rundown: A Rapid Review of Weekly News

Fintech Rundown: A Rapid Review of Weekly News
By David Penn Posted on
Categories: Fenergo, Finastra, Fintech Rundown, Prelim, Revolut, Salt Edge

Fresh from FinovateFall in New York, we’ve got a raft of fintech news to share and catch up on. Be sure to check Finovate’s Fintech Rundown all week long for the latest in industry news, announcements, and headlines.

Credit unions

Formerly PSCU/Co-op Solutions, Velera will provide card processing solutions for BrightStar Credit Union courtesy of a new partnership.

Open banking

International fintech Ebury teams up with Salt Edge to expand its open banking presence in the EU and U.K.

Payments

CloudPay announces integration with Workday to launch its Global Payroll Connect solution.

Revolut integrates with Spain-based digital payments platform, Bizum.

Boost Payment Solutions launches, Boost 100XB, its new cross-border payments solution for U.S.-issued commercial cards.

JPMorgan advances in its discussions with Apple to take over the Apple credit card from Goldman.

Brex launches Brex Embedded to help B2B software vendors accelerate customer workflows at a global scale with Brex virtual cards. 

Regtech, Fraud, and Security

Germany’s largest state bank, Landesbank Baden-Württemberg (LBBW), partners with Ireland’s Fenergo to upgrade its client onboarding operations.

Oracle launches the Oracle Financial Crime and Compliance (FCCM) Management Monitor Cloud Service. 

Banking-as-a-Service

Banking-as-a-Service (BaaS) provider Intergiro launches its no-code, white label app development platform.

BaaS platform NymCard partners with Mastercard to enhance global money transfers from the UAE to 47 countries.

The parent company of Five Star Bank announces plans to wind down process for its Banking-as-a-Service offerings.

E-commerce

DNA Payments unveils Apple Pay Express Checkout to give merchants additional payment acceptance options.

iPhone and iPad users can now choose their monthly payment at checkout with Monzo Flex on Apple Pay.

KYC/AML

PwC Norway deploys Strise’s AML Automation Cloud to enhance its AML processes.

Financial software company Finastra integrates with Prelim to enhance retail and commercial deposit account opening.

Insurtech

AI-based insurance pricing company Akur8 secures $120 million in Series C funding.

Digital transformation

Metro Bank collaborates with Infosys to accelerate digital transformation.

Crypto and DeFi

SC Ventures leads investment in One Trading.

Business financial management

Intuit launches Intuit Enterprise Suite to help businesses grow, streamline operations, and scale.

Investing and wealth management

Investment accounting solutions company Clearwater Analytics unveils new peer benchmarking solution, Clearwater Insights, for CFOs and treasury teams.

Photo by Jeremy Thomas on Unsplash

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Fintech Rundown: A Rapid Review of Weekly News

Fintech Rundown: A Rapid Review of Weekly News
By David Penn Posted on
Categories: ACI Worldwide, ASA, Fintech Rundown, Jack Henry, Kani Payments, Moneyhub, Xero

As “Back to School” season begins, we’re looking forward to a surge of fintech news over the next few days and weeks. Finovate’s Fintech Rundown is your one-stop-shop for the latest headlines, announcements, and updates.

Payments

ACI Worldwide partners with Red Hat to make its Enterprise Payments Platform available on any cloud infrastructure.

Bank payment company GoCardless completes its acquisition of Nuapay.

Atlantic Money launches Portals to enable customers to make international money transfers directly from their bank accounts.

Payment service provider Ecommpay adds three Italian Alternative Payment Methods (APMs) to its platform as part of an effort to expand its global presence.

MENA-based payments platform Tarabut acquires U.K.-based account-to-account payments platform Vyne.

Jack Henry announces collaboration with digital payments processor Moov.

Brazilian payment service provider Ume secures $15 million in a round featuring participation from PayPal’s venture arm.

OnlineCheckWriter.com— powered by Zil Money– now allows customers to send checks funded by their credit card or wallet.

Narmi goes live with the FedNow Service in receive mode with Grasshopper Bank.

Paystand expands its payments network into the Canadian market.

Trustly and Newline by Fifth Third partner on U.S. payments. 

Lending

Singapore-based SME lending platform Validus raises $50 million in debt financing from HSBC.

Ant International collaborates with Dock to drive financial inclusion with credit tech solutions.

Embedded finance

ASA announces the integration of five fintechs–PortfolioPilot, Guac, One Goal Finance, Credit Rent Boost, and Column Tax–into its embedded app store, ASA Vault.

Embedded payments specialist Modulr expands its integration with online accounting software provider Xero to add payroll services.

Open banking

Comertbank chooses Salt Edge to comply with Moldova’s open banking legislation.

Wealth management and investing

Legal & General chooses Moneyhub to power its Qualifying Pensions Dashboard Service.

Quilter to acquire NuWealth to enhance its digital capabilities.

Regtech

Kani Payments helps climate-focused fintech Zero streamline its reconciliation and reporting obligations.

Sedric AI raises $18.5 million in Series A round to empower financial institutions with an AI-based compliance platform.

Spring Labs unveils Zanko ComplianceAssist to help financial service firms with compliance.

Small business finance

UNIPaaS and American Express partner to boost B2B card payments for SaaS platforms.

Papaya Global facilitates changing cross-border payroll, helping companies streamline their global payroll processes in every location in just four weeks. 

Real estate

Agora launches Report Builder and Waterfall Automation Tool.

Photo by Oleksandr P

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Fintech Rundown: A Rapid Review of Weekly News

Fintech Rundown: A Rapid Review of Weekly News
By David Penn Posted on
Categories: Apiture, Backbase, Featurespace, FICO, Fintech Rundown, Socure, US Bank, VISA

As summer draws to a close, there may be a big acquisition on the horizon in the fraud and financial crime prevention space. Be sure to check in with Finovate’s Fintech Rundown all week long for the latest in fintech news.

Fraud and financial crime prevention

Is Visa looking to acquire fraud fighting platform Featurespace?

Financial wellness

Canadian fintech Koho launches Rent Reporting to help renters improve their credit.

Cryptocurrency / DeFi

Payments bank Banking Circle unveils Euro-pegged stablecoin.

Digital asset infrastructure provider Bitpanda partners with CoinMENA.

Digital banking

MyStateBank turns to Backbase for its new digital banking platform.

Surety Bank partners with Apiture for its digital banking platform.

Lyft teams with earned wage access company Payfare to launch new features for its Lyft Direct debit card and banking app. 

Neobank Comun lands $21.5 million.

G2 Risk Solutions unveils solution to integrate merchant risk management.

Payments

Payments processor Adyen introduces new Chief Technology Officer Tom Adams.

Payroll and payments platform Thera raises $4 million in seed funding.

U.S. Bank acquires healthcare-based payments platform Salucro.

Vault expands payments capabilities of its accounts payable platform.

Viamericas partners with Paisamex to expand remittances to Mexico.

Identity verification

Verification platform Sumsub becomes the first identity verification provider to secure Global Digital Identity Certification (GDIC).

Socure introduces new Chief Revenue Officer Matt Thompson.

AuthenticID unveils enhanced Smart ReAuth for instant biometric reauthentication.

E-commerce

Real-time shopping platform Tilt secures $18 million in Series A funding.

Sephora selects Paze online checkout experience for its Beauty Insider loyalty members.

Lending

FICO unveils new enhancements to its platform to improve real-time decision-making.

Rogers Communications partners with Nova Credit, a cross-border credit bureau, to help newcomers to Canada build credit and finance a new smartphone.

Liberis and Sezzle partner to provide funding to small businesses across the United States.

Happy Money appoints Matt Potere as Chief Executive Officer.

Wealth management and investing

Digital investment platform Webull begins offering options trading to its customers.

Insurtech

Insurance brokerage software provider FullCircl inks multi-year agreement with international insurance intermediary group Howden.

Business finance solutions

Galileo enhances B2B expense management offering with Mastercard Smart Data.

Conotoxia launches multi-currency cards for businesses.

Communication

Glia launches ChannelLess AI-powered interactions for financial services.

Photo by Daniel Frese

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Fintech Rundown: A Rapid Review of Weekly News

Fintech Rundown: A Rapid Review of Weekly News
By David Penn Posted on
Categories: Alumni News, ASA, Eko Investments, Fintech Rundown, Kobalt Labs, Mitek, nCino, PayPal, Trustly, UpSwot, Weekly Alumni News

Finovate’s Fintech Rundown is here with a look at some of the top fintech headlines. From startups emerging from stealth flush with capital to the launch of new AI-powered fraud fighting technologies, we’ve got you covered. Be sure to check back all week long for the latest updates.

E-commerce

E-commerce payments solution provider Klarna acquires New Zealand’s Laybuy.

Regtech

Risk and compliance company Unit21 introduces new anti-fraud technology for ACH transactions.

Payments

Uruguay-based cross-border payment platform dLocal forges strategic partnership with Uphold’s onramp service, Topper.

PayPal integrates with payroll provider UKG to offer early wage access.

Payments company D24 forges a strategic partnership with payments orchestration platform Yuno.

Nigeria-based B2B payments and liquidity platform for emerging markets businesses Waza emerges from stealth with $8 million in funding.

Identity management

Biometric authentication solutions company IDEX Biometrics names Catharina Eklof as its new CEO.

Crypto / DeFi

Romania-based AI and blockchain technology provider Humans.ai acquires TensorChain creator Starfish Technologies.

German neobank N26 expands its cryptocurrency trading product, N26 Crypto, to five new European nations: Belgium, Germany, Ireland, Portugal, and Switzerland.

Worldwide Stablecoin Payment Network (WSPN) raises $30 million in seed funding.

Decentralized finance (DeFi) risk management platform Chaos Labs secures $55 million in Series A funding.

Stablecoin-to-fiat money transfer app Sling Money locks in $15 million in funding.

Lending

ABN AMRO forges partnership with nCino to enhance its corporate lending operations.

Embedded finance fintech Amount secures $30 million to fuel its expansion into the credit union industry.

Digital banking

Challenger bank Starling Bank launches its first savings account offering 3.25% interest.

Wealth management

Cloud-based wealth management solution provider FusionIQ partners with wealthtech provider interVal to deliver new technology solutions to financial advisors.

Open banking

Open banking payments company Trustly announces strategic partnership with food delivery service company foodora.

Financial literacy

Northern Trust teams up with Greenlight Financial Technology to give its clients access to Greenlight’s finance app and debit card.

Embedded finance

Regtech Kobalt Labs joins the Treasury Prime Partner Marketplace.

Three Finovate alums – ASA Financial, Eko Investments, and upSWOT – earn finalist spots in the 2024 NXTSTAGE Financial Technology Pilot Competition.

Accounting and taxes

Automated accounting and tax solution for “solopreneurs,” Lettuce, raises $15 million in Series A funding.

Fraud and financial crime prevention

Digital identity and fraud prevention innovator Mitek Systems expands its partnership with Alogent.

Photo by Roman Kraft on Unsplash

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Fintech Rundown: A Rapid Review of Weekly News

Fintech Rundown: A Rapid Review of Weekly News
By Julie Muhn (@julieschicktanz) Posted on
Categories: Experian, Fintech Rundown, Kobalt Labs, NayaOne, Prosper, SigFig, Socure

We’re midway through August, and while everyone attempts to sneak in their final summer vacation days, the fintech news continues on. While we’ve seen a handful of acquisition news headlines so far this summer, I expect things to tick up slightly this fall.  Stay tuned throughout the week to read the latest news this week as we post updates and evolutions.

Embedded banking

ClearBank secures Dutch banking license and expands to Europe.

Fraud, security, and identity

Socure unveils selfie reverification solution with deepfake detection.

Experian acquires behavioral analytics company NeuroID for its fraud detection capabilities against AI-enabled fraud.

UFS acquires Safe Systems for undisclosed amount.

Payments

Billtrust introduces new Chief Product Officer Corrie DeCamp.

GoHenry by Acorns teams up with Google Wallet for new Fitbit Ace LTE integration.

Amazon and Barclays launch new co-branded credit card for U.K. users.

Conduit lands $6 million for cross border payments.

HPS/PayMedix acquires TempoPay to further expand and simplify healthcare payments.

Small business banking

Small business financial platform Lili announces strategic collaboration with business decisioning and analytics firm, Dun & Bradstreet.

Payroll services provider CloudPay receives $120 million in new funding.

Banking news

Scotiabank announces agreement to acquire 14.9% equity interest in KeyCorp.

Lending

Consumer lending company Selina Finance inks five-year mortgage servicing agreement with Phoebus Software.

Real estate and asset-backed lending infrastructure provider Setpoint secures $31 million in Series B funding.

Prosper reaches milestone of reaching 2 million customers.

Cryptocurrency and DeFi

SEC sues crypto firm NovaTech for fraud.

Wealth management

Digital wealth management solutions company SigFig unveils new AI capabilities for its financial advisor collaboration platform, Engage.

Wealth management solution provider FusionIQ forges strategic partnership with wealth management software company interVal.

Regtech

Third-party risk management specialist Kobalt Labs joins the NayaOne Tech Marketplace.

Photo by Anne Hoang on Unsplash

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Fintech Rundown: A Rapid Review of Weekly News

Fintech Rundown: A Rapid Review of Weekly News
By David Penn Posted on
Categories: 10x Banking, Alumni News, AMLYZE, Bankjoy, Daily news, Doshi App, Fintech Rundown, nCino, NCR Corporation, Weekly News, Zafin

A major sell-off in the stock market is giving investors jitters as August begins in earnest. Funding news for companies in lending and wealth management leads the fintech news this week. Be sure to check back over the next few days for the latest updates and announcements.

Lending

U.K.-based SME lender Shawbrook partners with nCino to automate loan origination.

Alternative financing company for mid-sized SMEs, ThinCats, secures a £75 million mezzanine facility.

Loyalty and rewards

Bilt Rewards receives $150 million investment at a valuation of $3.25 billion.

Digital banking

NCR Voyix announces agreement to sell its digital banking business to Veritas Capital for $2.45 billion in cash.

Zafin and 10x Banking forge global partnership to accelerate core banking system modernization.

Missouri Central Credit Union partners with Bankjoy to enhance its digital banking capabilities.

Banking technology and Banking-as-a-Service (BaaS) innovator Mbanq launches new suite of white-label mobile digital banking apps.

Wealth management

Financial advisor platform Savvy Wealth secures $26.5 million in Series A funding.

Payments

International trading broker Markets.com selects Worldpay to monitor its global payments processing and fund disbursements.

Payments platform Thredd introduces Chief Client Officer Brian Kieley.

Kickfin to use SkyTab POS to enhance restaurants’ tip payout process.

Layer2 raises a $10 million in Series A funding.

Credit Union of America selects NCR Atleos‘ Allpoint Network to expand access to cash.

Cybersecurity and digital identity

Fingerprint Cards appoints David Eastaugh as Chief Strategy and Technology Officer.

J.P. Morgan Payments and PopID to expand biometric offerings.

Financial literacy and education

U.K.-based Yorkshire Building Society teams up with financial education company Doshi to provide online program for first-time prospective homeowners.

Regtech

Anti-financial crime solution provider AMLYZE announces strategic partnership with pre-transaction crypto compliance specialist Notabene.

Small business banking

Flywire acquires Invoiced to bolster its global B2B payment network.

Egypt-based Cartona raises $8.1 million to grow its B2B platform.

Photo by Karolina Grabowska

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Fintech Rundown: A Rapid Review of Weekly News

Fintech Rundown: A Rapid Review of Weekly News
By Julie Muhn (@julieschicktanz) Posted on
Categories: Fintech Rundown, Hawk:AI, Ledger, Marqeta, Salt Edge, SpyCloud

As we enter into the last few days of July, there’s a lot to think about. The days are slowly getting shorter, but the list of tasks needed to complete 2024 objectives by the end of the year isn’t shrinking. Fintech news is set to pick up its pace as summer slows down, and we’ll be here to cover it. Stay tuned throughout the week to read the latest news this week as we post updates and evolutions.

Payments

Marqeta becomes certified to enable Visa flexible credential.

Billie integrates with Stripe, making the B2B BNPL solution available in Europe.

Spendbase partners with Thredd to shake up subscription management in the U.S.

AppBrilliance brings real-time payments to digital wallets with RTP and FedNow.

Crypto and DeFi

Ledger launches Ledger Flex, a mid-range hardware crypto wallet.

Metallicus, core developer of foundational Layer 0 blockchain, Metal Blockchain, welcomes KeyPoint Credit Union to its Banking Innovation Program.

Small business finance

Sage partners with Stripe to help SMBs control their cashflow.

Rillet raises $13.5 million to automate accounting.

Insurtech

iPipeline introduces former Microsoft executive Steve Cover as Chief Technology Officer.

Open banking

Salt Edge forges partnership with Lithuanian paytech SDK.finance.

Cybersecurity

AI-powered fraud prevention and AML platform Hawk announces a further extension of its Series B funding round.

Cybercrime analytics company and Finovate Best of Show winner SpyCloud adds Consumers’ Risk Module to its Check Your Exposure tool for banks and financial institutions.

Regtech and compliance

Intelligent automation and compliance solutions provider Kompliant announces strategic partnership with the Equifax Digital Solutions team.

Photo by Andrea Piacquadio

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Fintech Rundown: A Rapid Review of Weekly News

Fintech Rundown: A Rapid Review of Weekly News
By David Penn Posted on
Categories: Alkami Technology, Alumni News, Coinbase, Daily news, Envestnet, Fintech Rundown, VISA

We’re starting off the newsweek with a bang as Bain Capital announces that it will take wealthtech and Finovate alum Envestnet private in a deal valued at $4.5 billion. Be sure to check back all week long with the latest fintech news and headlines.

Crypto / DeFi / Web3

Payment orchestration platform FinMont partners with Bitcoin and cryptocurrency payment servics firm, BitPay.

Coinbase launches new web app to help users better manage their digital assets portfolio.

Blockchain payment network Partior secures $60 million in Series B funding.

Wirex and Visa announce an expanded partnership to promote Web3 payments.

Payments

Mangopay teams up with European marketplace ManoMano to bring new payment capabilities to marketplace merchants.

Allied Payment Network introduces new Chief Financial Officer Hank Vanjaria.

U.K. payments platform Payset partners with ClearBank to access the U.K. payment system for local and cross-border transactions.

BNPL company Affirm teams up with Canadian retailer RONA, enabling the store to offer flexible online payment options.

Singapore based fintech Qashier launches its payment linked loyalty program, Treats.

TerraPay partners with YeePay to enhance the customer experience.

Nala raises $40 million to build B2B payments platform, scale remittance services.

Stripe reaches $70 billion valuation.

Klarna considers Goldman Sachs, Morgan Stanley, and JPMorgan for lead banking positions for a potential 2025 IPO.

Payments processor Tapi lands $22 million.

Temenos teamed up with Visa to integrate Visa Direct with Temenos Payments Hub and make available to banks via Temenos Exchange.

Investing and wealth management

Apex Fintech Solutions launches its real-time, B2B investment infrastructure, Ascend for Fintechs.

Bain Capital to buy Envestnet for $4.5 billion.

InvestFi forges partnership with HiFin Technology.

Small business finance

America First Credit Union turns to Loquat to enhance onboarding for small business members.

J.P. Morgan Payments selects Slope to provide clients access to a short-term financing solution, leads the fintech’s new round of $252 million in combined debt and equity.

9Spokes launches automated cashflow tool to help financial organizations elevate financial insights for SMBs.

Digital banking

Digital wealth management solutions company Quantifeed forges partnership with banking technology firm Thought Machine.

Digital banking solutions provider Alkami receives certification by J.D. Power for its mobile banking platform.

Banco Santander introduces a new digital service for customers with hearing challenges that translates the bank’s website into British Sign Language (BSL).

Flybits integrates with Q2’s Digital Banking Platform.

Trexis launches suite of digital banking solutions.

Anne Boden quits Starling Bank to focus on AI.

Brightfin launches healthy spending app to remove anxiety around money.

Insurtech

Digital insurance firm Lemonade launches new home insurance offering in the U.K.

Insuritas partners with Integral Group Solution (IGS) to integrate home services product into its embedded insurance platform.

Lending

Mexican fintech OCN secures $86 million in Series A funding.

Open banking

Salt Edge launches the latest version of its Open Banking Gateway API, API V6.

Goldman Sachs’ alternatives unit is leading a consortium investing $540 million in a continuation vehicle created by VC firm NEA, which includes stakes in 11 of NEA’s companies, including Plaid.

Photo by Lukas

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Fintech Rundown: A Rapid Review of Weekly News

Fintech Rundown: A Rapid Review of Weekly News
By David Penn Posted on
Categories: AutoRek, Fintech Rundown, Jack Henry, Mambu, OneID, Thought Machine

Partnerships in digital banking, identity management, and payments lead off the fintech news headlines as July begins in earnest. Be sure to check back all week long for updates and fresh announcements on the latest industry happenings.

Payments

AFFIN Bank turns to ACI Worldwide to modernize payments for businesses in Malaysia.

Dispute management and collections specialist Fintegrate Technology launches new image and data conversion suite, FusionLRS.

E-money institution Outpayce chooses Mambu to launch its multi-currency digital wallet for travel payments.

Cross River Bank teams up with MassPay to broaden access to domestic instant payments.

Yuno forges strategic partnership with BBVA Group digital payments company, Openpay.

Cross-border payments solutions company dLocal announces strategic partnership with Wakanow Group.

Payments infrastructure solution for software companies Payabli secures $20 million in Series A funding.

Instant payments solutions company Zimpler announced a new technical partnership with Swedish payments app, Swish.

Lending

ClearScore secures $4.4 million (£3.4 million) in funding from Fair4All Finance to develop debt consolidation loan technology for the financially vulnerable.

Ireland’s CreditLogic raises $3.8 million (EUR 3.5 million) from Riverside Acceleration Capital (RAC).

Crypto / DeFi / Web3

Crypto payments company Kulipa partners with cryptocurrency wallet provider Argent and Mastercard to launch its new crypto-based payment card.

MoonPay and Mesh ink an exclusive partnership to ease the process of depositing and transferring crypto from exchanges.

Swiss layer-1 blockchain Shardeum partners with Web3 security services platform Immunefi to launch bug bounty program.

Fraud and identity management

Fraud prevention specialist GBG unveils its KYB solution, GBG Detected.

Germany’s IDnow unveils a pair of new e-signature solutions, InstantSign and eID eSign.

NatWest partners with digital identity identity solutions provider OneID.

iDenfy and UAE-based SIMPal forge strategic partnership to enhance security in the telecom industry.

Insurtech

AutoRek partners with JP Morgan Payments to enhance premium processing for insurance companies.

Digital banking

U.K.-based digital bank and BaaS platform Griffin receives B Corp certification.

First Federal Bank of Kansas turns to Jack Henry for its hosted core processing solution.

Financial services company Ethos teams up with Thought Machine to provide Shariah-compliant banking solutions.

Digital banking experience platform Plumery forges strategic partnership with core banking provider Fimple.

South Africa’s Tyme Bank appoints new CEO Karl Westvig.

Capital markets

Enterprise platform for data automation Duco launches its reconciliation capability for unstructured data.

Credit

U.K.-based consumer credit fintech Fairlo secures B Corp certification.

Investing and wealth management

Brokerage-as-a-service platform lemon.markets raises $13 million in funding from CommerzVentures, Heliad, and existing investors.

Photo by Suzy Hazelwood

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Fintech Rundown: A Rapid Review of Weekly News

Fintech Rundown: A Rapid Review of Weekly News
By Julie Muhn (@julieschicktanz) Posted on
Categories: Fintech Rundown

We’ve made it to the halfway mark of 2024, which leaves us six months to finish off our 2024 initiatives. While the news usually slows down in July, however, some of the drama between banks and regulators is heating up. Stay tuned to read this week’s news as we post updates and evolutions.

Wealth management

BlackRock to buy U.K. data group Preqin for $3.2 billion.

Robinhood acquires AI-driven investment-advice platform Pluto.

intelliflo redblack named WealthTech Provider of the Year by InvestmentNews.

Payments

Comfi secures $5 million debt facility to expedite BNPL plans.

Conotoxia adds the next currencies, HUF, RON and AED, to its multi-currency cards.

Wise customers may be impacted by Evolve Bank & Trust data breach.

Fraud and identity management

KarmaCheck raises $45 million.

Evolve Bank & Trust hit by ransomware attack, confirms customer data stolen.

Digital banking

Nubank acquires Hyperplane to accelerate AI-first strategy.

Flybits partners with Logicom Solutions.

Plaid has grown its enterprise customer base to over 1,000.

Revolut reaches record profit of $545 million, confident of U.K. bank license approval.

Former Backbase exec Mark Geneste joins Mambu as Chief Revenue Officer.

Bling raises $12 million to scale its family super-app.

DeFi and crypto

Coinbase sues SEC, FDIC over FOIA requests, says federal regulators trying to cut out crypto.

Paxos gains Singapore approval for stablecoin issuance, DBS to provide custody.

Banking-as-a-Service

Thread Bank receives FDIC consent order to increase BaaS oversight.

Small business finance

U.K. fintech Triver lands £2.5 million to provide working capital to SMEs.

Photo by fauxels

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Fintech Rundown: A Rapid Review of Weekly News

Fintech Rundown: A Rapid Review of Weekly News
By David Penn Posted on
Categories: BlueVine, Daily news, Finastra, Fintech Rundown, Finzly, Klarna, MasterCard, Salt Edge, Trustly, Tyro, Weekly Alumni News, Weekly News

As 2024 works its way toward halftime, we’re seeing an uptick in partnership and collaboration activity from crypto to regtech. Check back all week long for updates on the latest in fintech news.

Payments

Payment orchestration platform Gr4vy extends its partnership with open banking payments company Trustly.

Tyro Payments teams up with StoreConnect to enable integrated payments for a Salesforce-based POS solution.

Intelligent verified payouts solutions provider Verituity closes $18.8 million funding round.

MENA and Africa-based consumer fintech Pyypl to issue prepaid Visa cards from its UAE headquarters as part of a new partnership with Visa.

Clair partners with Check to seamlessly offer on-demand pay. 

Tribe Payments appoints Andrew Hocking as CEO.

Frost Bank taps Finzly to provide FedNow and RTP instant payments to its business clients and consumers.

Digital banking

Mahalo Banking introduces its latest partner: Industrial Credit Union.

Bluevine teams up with Mastercard to launch its new Small Business Cashback Mastercard.

Bank Midwest partners with Finastra to launch its new digital bank, OnePlace.bank.

Tuum expands its partnership with Amazon Web Services (AWS) to deliver its next generation core banking platform through the AWS Marketplace.

Quail Creek Bank chooses Jack Henry to stay competitive and enhance customer experience.

MoneyLion appoints Jon Kaplan as Chief Revenue Officer.

Avidia Bank partners with Q2 and Personetics to modernize its digital banking experience and strengthen engagement.

Eltropy announces key enhancements to unified conversations platform.

Fraud and Identity management

Risk-decisioning software provider Provenir launches onboarding fraud solution.

Email address intelligence firm AtData forges strategic partnership with unified identity platform Dodgeball.

DataVisor enhances multi-tenancy capabilities for scalable, secure, and flexible fraud and AML solutions.

E-Commerce

Klarna divests its Klarna Checkout (KCO) division for $520 million.

Regtech

E-document management platform A-Cube API announces collaboration with Salt Edge to facilitate compliant document digitization.

DeFi

Decentralized finance (DeFi) platform 1inch partners with Web3 security provider Blockaid.

Embedded finance

Cotribute, an embedded fintech platform serving credit unions, partners with APCU and Center Parc Credit Union to launch an automated digital account opening solution.

Embedded finance platform for technology purchases Gynger raises $20 million in a Series A round led by PayPal Ventures.

Banking-as-a-Service

Payments and financial solutions provider Finzly partners with Frost Bank to bring FedNow and RTP Instant Payments to business and retail customers.

Egyptian Banking-as-a-Service startup Connect Money secures $8 million.

Lending

USMI names Enact MI President and CEO Rohit Gupta as Chair of the Board.

Conotoxia makes loan applications and processing available in its mobile app.

Small business finance

Airwallex integrates with Intuit QuickBooks to provide seamless multicurrency reporting.

Photo by Nubia Navarro (nubikini)

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