Fintech Rundown Archives - Page 2 of 6

Fintech Rundown: A Rapid Review of Weekly News

By David Penn Posted on February 3, 2025
Categories: Fintech Rundown, Jack Henry, nCino, WorldPay

New leadership for digital banking solutions provider nCino and the fallout from the recent ouster of CFPB director Rohit Chopra are among the major fintech headlines as the first full week of February begins.

Be sure to check back here at the Fintech Rundown all week long for the latest updates and announcement in fintech!

Digital banking

nCino introduces new President and Chief Executive Officer Sean Desmond.

Azura Credit Union modernizes technology infrastructure with Jack Henry.

Payments

Jack Henry and Moov team up to offer Visa Direct via its Jack Henry Rapid Transfers solution.

The Clearing House’s RTP Network announces surpassing one billion payments milestone.

UK-based paytech Sokin raises $15 million in debt funding.

MoneyGram announces Luke Tuttle as Chief Technology Officer.

Pomelo launches first-ever rewards program for international money transfer.

NCR Atleos’ Cashzone Network expands into Italy.

Crypto / Defi

Uphold, an infrastructure provider for on-chain payments, banking, and investments resumes staking services for its UK customers who hold cryptocurrencies.

London-based fintech Brava unveils stablecoin management system.

Cryptocurrency exchange Kraken launches payment service.

Banking-as-a-Service

German Banking-as-a-Service platform Solaris secures $144 million (€140 million) in new funding.

Open banking

Payments orchestration infrastructure firm Pay.com chooses real-time payments platform Volt as its strategic open banking partner.

Adyen selects open banking infrastructure platform Yapily to enhance its open banking offering.

Plaid unveils new brand identity.

Wealth management

Wealth management technology platform OneVest secures $20 million in Series B funding.

Dubai-based wealth and asset tracking platform Myne raises $2 million in pre-seed funding.

AI solutions provider for financial advisors, Jump, raises $20 million in Series A funding in a round led by Battery Ventures.

Fraud prevention

Payments technology company Worldpay agrees to acquire AI-powered fraud prevention platform Ravelin.

Backbase and Feedzai partner to launch deeply integrated financial crime prevention in the Engagement Banking Platform.

Salus selects authID’s Biometric Identity Platform to secure its financial services solutions for the underprivileged.

Photo by David Kanigan

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Fintech Rundown: A Rapid Review of Weekly News

By David Penn Posted on January 27, 2025
Categories: Alkami Technology, DriveWealth, Fintech Rundown, Tink, VISA

Reports of a major breakthrough in Chinese AI technology sent stocks reeling in the U.S. to begin the week. Here at Finovate’s Fintech Rundown, we’ve got one eye on the latest from DeepSeek and another eye on the latest developments in fintech.

As Monday begins, we share news of a partnership in the open banking space, an expansion into the APAC, and both new funding and new tools for business banking.

Open banking

Tink and Adyen team up with prepaid platform Recharge to offer its German customers Pay by Bank services.

Payments

Visa and South Korean fintech DealMe team up to offer cross-border card installment payments.

Canadian paytech Nuvei expands into the APAC region on the completion of its acquisition of Paywiser Japan and granting of its acquiring license from Japan’s Ministry of Economy, Trade, and Industry.

Skipify partners with Retail Realm to launch identity-powered payments for Microsoft Dynamics 365 merchants.

Viffy leverages Finfare’s Finfare Connect payment linking technology.

Digital banking

Cloud-based digital banking solutions provider for financial institutions, Alkami Technology launches its Business Banking Digital Maturity Assessment tool.

Shanghai Commercial Bank partners with Hong Kong-based digital banking solutions provider Planto.

Alliant credit union selects Backbase to accelerate banking innovation.

Crypto / DeFi

Stablecoin payment infrastructure provider BVNK forges a strategic partnership with First Digital, the organization behind First Digital USD (FDUSD).

European cryptocurrency platform Bitpanda receives MiCAR license from BaFin.

Web3 and crypto technology fund Binance Labs rebrands as YZi Labs as part of an expansion into AI and biotech.

Small business banking

Wyzr, a SaaS-based financial management platform for small and micro businesses raises nearly $500,000 (£400,000) in new capital.

Regtech

Marketing compliance specialist for fintechs, Adclear announces raising $636,000 (£510,000) in pre-seed funding to automate FCA compliance.

c/side launches PCI compliance dashboard for new PCI DSS 4.0.1 requirements.

Wealth management

Brokerage-as-a-Service innovator DriveWealth partners with Moment Technology to expand its fixed-income asset class offering.

Risk, security and privacy

authID launches PrivacyKey, bringing privacy and compliance to its biometric identity authentication platform.

REPAY and Worth partner for KYB and underwriting tools to speed merchant onboarding and vendor enrollment.

Lending and credit

Vergent LMS launches the Vergent EMPOWER program for community banks and credit unions.

Delfi partners with three U.S. banks.

Photo by Suzy Hazelwood

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Fintech Rundown: A Rapid Review of Weekly News

By David Penn Posted on January 21, 2025
Categories: Fintech Rundown, Thought Machine, Worldline

Thanks for reading Finovate’s Fintech Rundown! We’ve got a new administration in Washington, D.C. and a new week of fintech news and announcements. We’re starting off the holiday-shortened week with a funding in the payments space and a handful of new product launches in insurtech and crypto.

We will update Fintech Rundown all week long with the latest in fintech news.

Payments

Egyptian payment orchestration platform MoneyHash secures $5.2 million in Pre-Series A funding.

Worldline and Wix team up to boost online commerce and payments solutions for businesses throughout Europe and Asia Pacific.

Gala Technology launches SOTpay Connect, a comprehensive payments gateway that supports open banking, direct debits, omni-channel payments, and more.

Insurtech

U.K.-based insurance intelligence platform Percayso Inform unveils updated version of its Quote Intelligence platform.

Digital risk processing platform Cytora partners with property data solutions provider Smarty to enhance property risk evaluation for insurers.

Regtech

Procurement orchestration platform Omnea forges new partnership with banking technology company Thought Machine.

Regtech Regnology acquires Polish regulatory and supervisory technology company BR-AG.

Crypto / DeFi

Finland-based Virtual Asset Service Provider (VASP) Ovoro launches automated cryptocurrency investing app.

Cryptocurrency exchange and Web3 firm Bitget goes live with its Hold-to-Earn service, Bitget HodlerYield.

Lending

Digital banking experience platform Plumery introduces new digital loan origination journey, Digital Lending.

Abrigo acquires Integrated Financial Solutions, provider of IFSLeaseWorks, to add automation for equipment leasing.

Small business banking

Independent consumer group and rating provider Fairer Finance launches new product ratings for business bank accounts.

Wealth management

Venture capital interval fund for retail and institutional investors, the Cashmere Fund, announces strategic collaboration with Apex Fintech Solutions.

AdvicePay unveils updated corporate branding to reflect evolution of its platform.

DriveWealth and Moment partner to democratize fixed-income investing.

Risk and analytics

Security Mutual selects Clearwater Analytics for risk and performance management.

Photo by Marvin Filmaker

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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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