Fintech Rundown Archives - Page 3 of 5

Fintech Rundown: A Rapid Review of Weekly News

By David Penn Posted on August 5, 2024
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

By Julie Muhn (@julieschicktanz) Posted on July 29, 2024
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

By David Penn Posted on July 15, 2024
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.

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Fintech Rundown: A Rapid Review of Weekly News

By David Penn Posted on July 8, 2024
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

By Julie Muhn (@julieschicktanz) Posted on July 1, 2024
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.

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Fintech Rundown: A Rapid Review of Weekly News

By David Penn Posted on June 24, 2024
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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Fintech Rundown: A Rapid Review of Weekly News

By David Penn Posted on June 17, 2024
Categories: Alumni News, BBVA, Daily news, DriveWealth, Finastra, Fintech Rundown, Glia, MasterCard, nCino, Signicat

A holiday-filled week that began with Father’s Day, continues through Juneteenth, and brings us the first official day of summer.

Don’t be surprised if this week yields a lower than usual fintech news flow as the temperatures rise and the days stretch long. We’ll keep you posted if you decide to step outside and enjoy the season.

Payments

Uruguayan cross-border payment platform dLocal forged a partnership with Lithuanian gaming marketplace Eneba.

eBay adds Venmo as a new payment option.

Qatar-based Doha Bank and Mastercard enter a long-term strategic partnership.

Digital payments platform CleverCards raises $8.5 million (€8 million).

Shift4 acquires a majority stake in Vectron Systems, one of the largest European suppliers of point-of-sale (POS) systems to the restaurant and hospitality verticals.

Cryptocurrency and DeFi

Cryptocurrency exchange Bybit unveils support for Apple Pay on its Bybit Card.

Dennis Winter becomes Chief Technology Officer of Boerse Stuttgart Digital.

Velmie and Bitlocus partner to bridge the gap between traditional finance and DeFi.

E-commerce

E-commerce accounting platform Finaloop raises $35 million in Series A funding.

Digital banking

Spring Labs launched its AI copilot for fintechs, Raia.

Glia brings unified interaction capabilities to the mobile version of NCR Yoyix’s mobile banking app.

nCino unveils its new AI banking tool, Banking Advisor.

BBVA plans to launch a consumer digital bank in Germany according to a report in Bloomberg.

Personetics recognized by Celent as a Global Leader in Personal Financial Engagement (PFE) for Retail Banking.

3Rivers Federal Credit Union taps MeridianLink to enhance the member experience by offering digital lending and account opening.

Apiture launches Data Portal to enable community financial institutions to provide a personalized banking experience.

Lending

Real-time lending and payments solution provider Momnt introduces new CEO Chris Bracken.

Taktile and Ocrolus partner to unlock real-time underwriting for small business lenders.

Nova Credit partners with Royal Bank of Canada to help newcomers to Canada leverage their international credit history in Canada.

Gynger secures $20 million in Series A funding to revolutionize corporate technology purchasing.

Investing

Brokerage-as-a-Service platform DriveWealth introduces additions to its senior leadership team.

Investment data management firm Finbourne raised $69.8 million (£55 million) in Series B funding.

French wealth management and financial advisory firm Ramify secures $11.8 million (€11 million) in Series A funding.

Identity and fraud management

Digital identity and identity fraud prevention solutions provider Signicat launches Face Authentication on its flagship MobileID product.

Fideo launches to fight fraud using real-time intelligence.

Capital.com partners with Trulioo to deliver customer onboarding.

Compliance

Sumsub and Finastra partner to strengthen banking industry compliance.

Photo by Jonathan Petersson

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Fintech Rundown: A Rapid Review of Weekly News

By Julie Muhn (@julieschicktanz) Posted on June 10, 2024
Categories: Fenergo, Fintech Rundown, Mambu, Salt Edge, SpyCloud, TransUnion, VISA

The summer fintech news slowdown is coming soon, but it hasn’t taken hold yet. Fintech news picked up last week, with multiple funding rounds and product announcements. Stay tuned to read this week’s news as we post updates and evolutions.

Embedded finance

Cross-border payments platform PingPong unveils its embedded lending solution.

Digital banking

Dubai-based NOW Money raises $4 million in funding.

Lending

Netherlands-based BridgeFund turns to Mambu to enhance its SME lending operations.

Payments

Dash Solutions expands its collaboration with Visa to provide real-time money movement.

Payments platform ConnexPay launches its Intelligent PayOuts technology.

Curve appoints Nancy Yaffa as USA CEO.

Digital receipts company Slip raises £2.5 million in seed funding.

Shopify acquires Slack alternative startup.

Challenger banking

U.K.-based Starling Bank reported its third full year of profitability.

Digital identity

IDVerse makes its GenAI ID verification solution available on Temenos Exchange.

Financial compliance software provider Fenergo announces collaboration with essential business services company Vistra.

Fintracking launches pay-as-you-go platform for ID verification.

Regtech

U.S.-based merchant acquirer Merrick Bank forges strategic partnership with automation and compliance solutions provider Kompliant.

Wealth management

AI for financial advisors startup Jump raises $4.6 million.

Digital investment infrastructure provider WealthKernel forges partnership with wealth-building and educational platform Fint Invest.

eToro teams up with X to livestream financial education content on the social media channel.

Open banking

Canada-based open banking solutions provider Salt Edge announces partnership with Moldova’s Moldindconbank.

Insurtech

Mbank and Policybazaar.ae partner to empower customers with access to insurance solutions.

Credit reporting

TransUnion goes live with trended affordability data.

Fraud prevention

Account takeover prevention specialist SpyCloud raises $35 million in new financing.

Capital markets

FX and interest rate derivatives trading technology company Derivative Path launches new commodities trading capability, DerivativeEDGE Commodities.

Proptech and mortgagetech

Real estate investment management solutions provider Agora acquires Clearshift’s real estate division.

Small business finance

Bold Commerce announced its new upsell and cross-sell capabilities for Bold Subscriptions for Shopify Checkout through an integration with Bold Upsell.

Airbase launches advanced spend analytics and vendor management capabilities.

Photo by ROBIN WORRALL on Unsplash

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Fintech Rundown: A Rapid Review of Weekly News

By Julie Muhn (@julieschicktanz) Posted on June 3, 2024
Categories: 10x Banking, Atomic FI, DriveWealth, Fenergo, Fintech Rundown, Insuritas, iProov, MasterCard, Meniga, Plaid, Sezzle, Temenos, VISA

Will the new month bring new challenges in fintech? Or will the news cycle take a much-needed vacation as summer approaches? Stay tuned to this week’s news for updates and evolutions throughout the week.

Digital banking

Cloud-native core banking operating system 10x Banking enters collaboration with Deloitte Australia.

Monzo reports first profitable year.

Genesis offers new tools and incentives to financial industry software developers.

Meniga partners with Handelsbanken in Norway to amplify digital banking experience.

Fraud prevention

iProov achieves FIDO Alliance certification for facial biometric identity verification.

Fenergo unveils new AI-powered Client Lifecycle Management (CLM) tool to help customers keep pace with evolving regulations.

U.K.-based digital compliance and AML solutions provider SmartSearch launches its International Individual Check solution.

Bunq improves its fraud-detection model’s training speed nearly 100x using NVIDIA AI.

Payments

Payouts orchestration PayQuicker launches its on-demand, earned income access product, Insta-Pay.

Uruguayan cross-border payment platform dLocal partners with cross-border money transfer firm Ria Money Transfer.

Payments leader Jacob Eisen named ICBA Payments President and CEO.

Forward announces $16 million seed round led by Commerce Ventures, Elefund, and Fiserv.

The Bank of London forms strategic partnership with allpay Limited to improve banking and payments in the U.K. Social Housing market.

Vallarta Supermarkets taps Sezzle to offer Buy Now, Pay Later for grocery purchases.

Onbe to power Eisen’s digital solution that issues funds to consumers following account closures.

Temenos and Mastercard join forces to expand cross-border payment capabilities through Mastercard Move.

allpay partners with Enfuce to provide payments for the U.K. public service sector.

NCR Atleos launches U.K. ATM cash deposit service.

REPAY empowers credit unions with enhancements to CU*Answers integration.

Small business finance

Corporate card and spend management provider Torpago raises $10 million in Series B round co-led by Priority Tech Ventures and EJF Ventures.

Commercial lending software provider for U.S. financial institutions, Abrigo, launched its commercial loan origination solution for SME lending.

insightsoftware acquires Fiplana to strengthen Qlik’s extended planning, analysis, and write-back capabilities.

i2c and Affiniti Finance partner to expand financial access for America’s underserved small businesses.

Spend management company Ivalua forges a collaboration with Visa.

Credit Cards

Credit repayment fintech Incredible raises $1 million.

Pinnacle Bank partners with CorServ to implement a modern credit card program for commercial, business, and consumer customers.

Insurtech

Scott Credit Union selects BUNDLE by Insuritas to launch its insurance agency.

Investment and wealth management

Brokerage-as-a-Service innovator DriveWealth forges new partnership with Turkish fintech Papara.

Lending

Plaid unveils Consumer Report, a new solution that brings businesses real-time cash flow data along with credit risk insights through Plaid Check, its consumer reporting agency.

Open banking

Mastercard teams up with Atomic to launch new open banking solutions.

Financial inclusion

Visa teams up with non-profit Plain Numbers to support inclusive financial services for adults in the U.K./

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Fintech Rundown: A Rapid Review of Weekly News

By David Penn Posted on May 28, 2024
Categories: Alto Solutions, Daily news, DataVisor, Finotta, Fintech Rundown, Ledger, NayaOne, Sikoia, Weekly News

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

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

Insurtech

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

Payments

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

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

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

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

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

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

DailyPay appoints Stacy Greiner as interim Chief Executive Officer.

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

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

Fraud prevention and compliance

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

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

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

Ocorian appoints Chief Financial Officer.

Sift announces RiskWatch to simplify fraud decisioning and catalyze growth.

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

Embedded finance

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

Treasury Prime partners with onboarding identity provider Footprint.

Digital banking

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

Sikoia joins the NayaOne marketplace.

Data

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

Small business finance

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

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

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

Crypto

Ledger starts shipping its high-end hardware crypto wallet.

Wealth management

DriveWealth introduces new Chief Product Officer Kyla Murphy.

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

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

Identity management

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

Photo by Nathan Cowley

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Fintech Rundown: A Rapid Review of Weekly News

By Julie Muhn (@julieschicktanz) Posted on May 13, 2024
Categories: Backbase, Expensify, Fintech Rundown, Flywire

Last week brought a small uptick in fintech funding and drama ensued when Tabapay renounced its agreement to purchase Synapse’s assets. Stay tuned to this week’s news for updates as this situation– and others– evolve throughout the week.

Payments

Payments enablement and software company Flywire announces expanded availability of its third-party invoicing solution.

Bank payments company GoCardless appoints Jolawn Victor as Chief Growth Officer.

Bankart partners with Diebold Nixdorf to modernize its payment processing platform across southeast Europe.

Tango launches Global Choice Link, to offer its business customers an easy platform to send rewards, incentives, and payouts to recipients across the globe.

REPAY becomes a Certified Integration Partner with Corelation’s KeyStone platform.

Mastercard and Salesforce announce new integration to transform transaction disputes.

Small business banking

Expensify unveils unlimited virtual cards for enhanced spend management.

Core banking

Vietnam-based Orient Commercial Joint Stock Bank (OCB) leverages Backbase’s Engagement Banking Platform to launch its OMNI 4.0 app.

Banque Internationale à Luxembourg selects Temenos‘ core banking and payments to increase agility and efficiency of its retail, corporate, and private banking operations.

Investing

Raisin reports first profit as customer deposits increase.

Lending

SALT granted FCA approval and gears up for summer launch.

London-based automated mobile debt management platform Incredible raises $1 million in pre-seed funding.

Challenger banking

French payments app Lydia launches new challenger bank proposition called Sumeria.

E-commerce

Mexican BNPL platform Aplazo secures $70 million in equity financing.

Fraud prevention

Financial services technology provider Koodoo teams up with Resistant AI to enhance its ability to check documents for fraud.

Digital banking

U.K.-based “greener” digital bank Tandem introduces new Chief Technology Officer Suavek Zajac.

Photo by Armin Rimoldi

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Fintech Rundown: A Rapid Review of Weekly News

By David Penn Posted on May 6, 2024
Categories: AI Squared, Coinbase, Daily news, Expensify, Fintech Rundown, Fiserv, Jack Henry, nCino, PayPal, Qolo, Revolut, Weekly Alumni News, Weekly News

Investment and innovation are defining the wealth management space as the week begins. LA-based wealth management platform Altruist enters the week with $169 million more in capital, courtesy of a Series E round led by Iconiq Growth. Meanwhile, JP Morgan Chase announced that it has deployed generative AI to enhance its thematic investment offering.

Be sure to check back all week long for more fintech news!

Crypto

Revolut launches its stand-alone crypto exchange for professional crypto traders, Revolut X.

MoonPay announces collaboration with PayPal to enable MoonPay users in the U.S. to buy crypto via their PayPal accounts.

Nayms partners with Coinbase to leverage on-chain technology for insurance transactions.

Community banking

New Peoples Bank turns to Jack Henry for its core processing technology and Banno Digital Platform.

Spend management

Expensify, the financial management super app for expenses and corporate cards, unveiled its new travel platform, Expensify Travel.

Insurtech

CoverTree, an insurtech specializing in manufactured home insurance, secures $13 million in Series A funding.

U.K.-based digital life insurance and income protection product company Eleos raises $4 million in seed funding.

Embedded insurance company CoverGenius inks partnership with Adyen.

Payments

Keybank introduces virtual account management powered by Qolo.

Checkout.com launches its Payments-as-a-Service solution, Flow.

WaFd Bank selects Fiserv’s CashFlow CentralSM to expand payment capabilities for small businesses.

NAB and Banked team up to launch Pay by Bank for Australian merchants.

YES BANK and EBANX partner to empower cross-border commerce in India.

Crowded launches international currency transfers for nonprofits, enabled by Visa Direct and Cross River.

Fraud prevention

AML and fraud risk mitigation company Unit21 launches ACH Risk Scores and Action Event Rules.

Investing / Wealth management

Life insurance and wealth management solutions provider iPipeline introduces its first Chief Product Officer Katie Kahl.

Wealth management platform Altruist raises $169 million in Series E funding.

JP Morgan Chase introduces its IndexGPT thematic investing tool.

Pure Financial Advisors generates more than $1 billion in new AUM through its SmartAsset partnership.

Data and analytics

Bank personalization engine company Moneythor appoints Martin Frick as its new Chief Executive Officer.

AI

AI Squared acquires open-source reverseETL technology company Multiwoven.

Lending

Planet Home Lending appoints Paul Walker as Chief Financial Officer.

Libro Credit Union seeks to enhance its lending operations via a transition to nCino’s cloud banking platform.

Communication & Virtual Assistants

How Eltropy’s AI-powered conversations platform helps 3 FIs reduce delinquencies.

Wipro collaborates with Microsoft to launch a suite of generative AI-powered virtual assistants for financial services.

Digital banking

Velmie and Unlimit partner to accelerate European Fintech growth.

FIS launches Atelio to provide the building blocks for BaaS and embedded finance.

Small business

Mercury launches new software to help businesses simplify financial workflows: billpay, accounting automations and employee reimbursement tools.

Basware acquires AP Matching.

KeyBank launches KeyVAM, a virtual account management solution powered by Qolo for treasury management clients who have complex demand deposit account structures.

Regtech

Global RegTech consolidator Corlytics acquires Deloitte UK’s RegTech platform.

Embedded finance

Issuer-processor Paymentology teams up with Diamond Trust Bank to bring embedded finace solutions to customers in Kenya.

Accelerators and incubators

Ally Financial launches its Ally Innovation Challenge to promote solutions leveraging Responsible AI.

Photo by Towfiqu barbhuiya on Unsplash

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