Fintech Rundown Archives - Page 4 of 4

Fintech Rundown: A Rapid Rundown of Weekly News

By David Penn Posted on March 18, 2024
Categories: Alumni News, Daily news, DocFox, Equifax, Fintech Rundown, FIS, nCino, Stratyfy, TransUnion, Weekly Alumni News, Weekly News

The week begins with acquisition news in the digital banking space and confirmation that a major Canadian fintech may be going private.

Fraud Prevention

FIS announces release of card fraud management solution SecurLOCK in collaboration with Stratyfy.

Equifax and commerce platform VTEX partner to enhance fraud prevention capabilities for merchants.

Digital banking

Alkami launches its free, digital maturity assessment survey for banks and credit unions.

Bankjoy wins “Best Digital Banking Platform” at the 8th annual FinTech Breakthrough Awards.

nCino inks agreement to acquire onboarding automation specialist DocFox.

Varo Bank appoints Allen Parker as Chief Financial Officer, promotes Raktim Mitra to Chief Lending Officer.

NWSB selects Apiture digital banking platform to fuel growth.

Pioneer FCU expands partnership with Tyfone, adds business banking and payments solutions.

Credit monitoring

TransUnion goes live with its AI-powered data analytics platform.

Payments

Payments processor Thredd enters U.S. debit and prepaid card market.

Mexican fintech Prometeo launches account-to-account payments.

GoCardless purchases Nuapay from EML Payments.

Canadian fintech Nuvei confirms speculation that it is considering going private.

Cross border payments company Clear Junction earns recognition from the 2024 FT1000, ranking the firm among Europe’s fastest growing company.

Duck Creek Technologies launches Duck Creek Payments to offer a payment experience for insurers.

Shift4 partners with Atlante to provide payments solution for electric vehicle charging.

Cryptocurrency / Blockchain

African-based blockchain payments network Zone raises $8.5 million in seed funding.

Figure Technologies unveils Figure Markets, a single platform where investors can trade a wide range of blockchain-native assets from crypto to stocks to alternative investments.

Financial inclusion

Building society Nationwide introduces new digital service using British Sign Language (BSL) for deaf and hearing-challenged customers.

Insurtech

iPipeline, a digital solutions provider for the insurance industry, launched its OneView solution that tracks the progress and status of annuity orders in real-time.

Taxation / Accounting

Free Agent expands its smart tax calculation functionality to all NatWest Group customers via their business banking app.

Wealth management & Investing

Aegon Asset Management implements Clearwater Analytics‘ PRISM to facilitate global client reporting.

Yieldstreet partners with Wilshire Advisors to deliver a holistic solution for investors seeking diversified, passive exposure to private markets.

Identity management & verification

Truiloo achieves best-in-class match rate performance across 75 countries.

Photo by Suzy Hazelwood

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Fintech Rundown: A Rapid Review of Weekly News

By Julie Muhn (@julieschicktanz) Posted on March 11, 2024
Categories: Fintech Rundown, Sumsub

This week marks both the one-year anniversary of Silicon Valley Bank’s collapse and St. Patrick’s Day. Let’s see if this week’s news projects a luckier year for fintechs. Check back for real-time updates on how the fintech landscape evolves this week.

Payments

Ryft announces new digital payments partnership with American Express.

Visa and Western Union expand their partnership to enable cross-border fund transfer to more than 40 countries.

Texas-based Jefferson Bank expands its partnership with Finastra, deploys payments-as-a-service solution, Finastra Payments To Go.

Mastercard and South African fintech SAVA team up to bring innovative payment options to SMMEs.

Receipt data fintech Banyan welcomes Vish Shastry as CPO.

NatWest to get rid of its Buy Now, Pay Later payment tool.

India’s Unified Payment Interface (UPI) is now live in Nepal.

Nicolet Bank selects NCR Voyix to enhance and improve its customer experience for digital banking.

Web3-powered B2B payments platform Zeebu exceeds $1 billion.

Basware launches touchless invoice tool.

VoPay partners with Cross River Bank to fuel U.S. expansion.

Scale Bank partners with Corserv to launch comprehensive credit card program.

Elavon to provide its payment solutions platform to the BMO’s U.S. clients.

Savings tools

Cash deposit platform Flagstone receives £108 million investment from Estancia Capital Partners.

Banking-as-a-Service

BaaS player Griffin launches as fully operational bank, lands $24 million.

Green Dot adds neobanks and fintechs to its network to enable cash transactions for customers.

Lending

Fundica and Visa team up to help SMEs secure working capital.

Baker Hill nominated for Tech Company of the Year in TechPoint’s 25^th Annual Mira Awards.

WorkWave parters with Wisetack and YouLend.

Regtech

Governance risk and compliance consultancy fscom acquires risk and compliance solutions provider FMConsult.

eCommerce

Skipify enters strategic partnership with consumer finance company Synchrony to enhance the online checkout experience.

Cash advance platform Wayflyer unveils new Wholesale Financing product.

Cybersecurity

Eye Security raises $39.3 million (€36 million) in Series B funding in a round led by J.P. Morgan Growth Equity Partners.

MDT partners with Allure Security to help credit unions defend against fraud.

Oliu digital identity verification platform achieves certification from the Digital ID and Authentication Council of Canada (DIACC).

Jack Henry’s Financial Crimes Defender named Best Fraud Prevention Platform in 2024 FinTech Breakthrough Awards Program.

Insurtech

CNB Bank and Trust partners with Insuritas to launch its embedded full service insurance agency.

Loyalty & rewards

American Express selects point.me to help cardholders search reward flight options using points.

SheerID announces SheerID for WooCommerce, allowing WooCommerce merchants to verify consumer eligibility for community-based offers and discounts.

Wealth Management

TradingHub appoints its first Chief Financial Officer Stephen Bergin.

Digital banking

N26 launches its Instant Savings accounts in 13 new markets in Europe.

Backbase and West Monroe team up to combine Backbase’s Engagement Banking Platform with West Monroe’s financial services advisory and digital experience capabilities.

Cryptocurrency

Blockchain data platform Chainalysis integrates with verification provider Sumsub to enhance regulatory compliance, and provide automated transaction monitoring for its clients.

Embedded finance

Treasury Prime announced that OMB Bank has joined its network.

Photo by Glambeau Design

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Fintech Rundown: A Rapid Review of Weekly News

By Julie Muhn (@julieschicktanz) Posted on March 4, 2024
Categories: Fintech Rundown

We’ve entered the first full week of March. Layoff activity has cooled slightly (but has not stopped), and fintech news is heating up. Here’s your weekly news rundown. Check back for real-time updates on how the fintech landscape evolves this week.

Payments

Kiwibank goes live with ACI Worldwide’s Enterprise Payments Platform.

Indian payments and API banking company Cashfree Payments launches embedded payments for software platforms.

TrueNorth selects Brim to help it bring small business and commercial credit card-as-a-service technology to banks, fintechs, and others in its professional services organization.

Xero to embed a billpay solution from BILL into the Xero platform.

wagely has secured $23 million in new funding.

allpay partners with automation expert Voicescape.

PayNearMe introduces Smart Switch, a new capability that enables card processing redundancy for billers and iGaming operators.

Allianz Trade launches Allianz Trade pay.

Digital Banking

Capstack Technologies secures strategic investment from Citi Ventures for its bank-to-bank loan marketplace.

Synctera raises $18.6 million in a Series A extension round to fuel international expansion.

Pocketbook selects Grasshopper to provide its customers with white-labeled FDIC insured commercial checking accounts.

Fraud and Security

G2 Risk Solutions and Mastercard join forces to help merchant acquirers reduce transaction fraud.

Airbase partners with Sardine to combat payment and vendor fraud

Lending

Embedded lending platform ChargeAfter launches The Lending Hub to help banks deliver lending solutions for merchants and their customers.

AKUVO launches Virtual Collector, a digital collections portal that helps borrowers to correct their past due accounts online without a live agent.

Clearwater Credit Union partners with Cotribute to streamline digital account onboarding, automated loan origination.

Credit Unions

Reseda Group invests $6.2 million in 8 fintechs: CU LIFT Fund, CURevl, Debbie, Origence, Members Mobile, Ranqx, Ascent and Changed.

Wealth management

AdvicePay launches new integrations with eMoney Advisor to offer efficiencies for joint customers navigating between the two platforms.

SmartAsset launches SmartAsset AMP, an Advisor Marketing Platform to help advisors acquire new clients.

Business banking

Bill launches cash flow forecasting and insights capabilities for SMBs.

Corcentric enhances AP invoice processing.

Velmie launches Business Banking Core Platform.

Open banking / Open finance

Colorado-based High Plains Bank leverages open banking infrastructure from Jack Henry to offer new services to its Spanish-speaking customers.

Photo by Leeloo The First

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Fintech Rundown: A Rapid Review of Weekly News

By Julie Muhn (@julieschicktanz) Posted on February 26, 2024
Categories: Fintech Rundown

It’s a leap year, which means we have an extra day in the month of February. How will the financial services industry Use the extra 24 hours this year? Check back for real-time updates on how the fintech landscape evolves this week.

Traditional banking

Legacy Bank & Trust reports it has doubled its assets after employing Jack Henry’s technology.

VyStar Credit Union selects NCR Atleos‘ Allpoint ATM Network to support growth.

Payments

In-person payment orchestration company Aevi partners with global card processing firm Silverflow.

Emirates and flydubai select Valuedynamx to power Emirates Skywards loyalty program.

Backbase and Alacriti partner to provide instant payment solutions for financial institutions.

Finix launches its business payments solution in the Canadian market.

AffiniPay selects Marqeta to power its SMB spend management solution for law firms.

AP automation and invoice processing company Basware appoints Head of AI and CIO to lead the company’s innovation drive.

PayU GPO launches a new suite of payment solutions to offer more payment options for merchants, offers Peruvian SMEs self-onboarding.

Wedge launches Programmable Payment Solution for banking associations and credit unions.

Lending

Magnati and Biz2X announce embedded finance partnership in UAE.

Visa launches Working Capital Performance Benchmark to allow mid-market businesses to see how their utilization of working capital solutions compares to other mid-market businesses across industries and regions around the world.

Security, fraud, and identity

DataVisor launches fraud and risk solution for sponsor banks to ensure compliance with new Banking-as-a-Service regulations.

AU10TIX launches Know Your Business solution to help companies know exactly who they are doing business with and avoid potential financial and reputational losses.

Equifax introduces Business Verification Solution.

Financial wellness and wealth management

SaveAway earns finalist spot in the TechImpact Startup Competition sponsored by the NYC Economic Development Corporation and Community Development Financial Institutions Fund.

TIFIN AG announces collaboration with RBC Wealth Management U.S. to deepen advisor-client relationships.

Cetera partners with Wealth Access to help its bank and advisor clients deliver a more personalized experience to their end users.

T. Rowe Price taps Clearwater Analytics to power stable value investment operations.

Customer experience

NLX raises $12 million in Series A funding for its conversational AI technology.

DeFi

Ripple and Axelar Foundation partner to enhance XRP ledger’s interoperability across blockchains.

ClearJunction joins U.K. Cryptoasset Business Council to empower crypto ecosystem growth.

Insurtech

Atlantic Global Risk selects Novidea for insurance management.

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Fintech Rundown: A Rapid Review of Weekly News

By David Penn Posted on February 13, 2024
Categories: Alumni News, Daily news, Envestnet, Fintech Rundown, FIS, Marqeta, Moneyhub, MX, Plaid, Weekly Alumni News, Zafin

We’re already well into the second month of 2024, and while funding has slowed down a bit, news in the decentralized finance world has picked up. Take a look at some of the top headlines in fintech and banking this week.

Digital Banking

Israel-based digital bank oneZero unveils its new GenAI-powered assistant, Ella.

HighRadius acquires Cforia.

Payments

Tuition payments solution for trade and technical school students Mia Share raises $6.5 million in funding.

Fiserv expands in-person bill payment network to NCR Atleos ATMs.

Airbase appoints Mathew Schulz from Forrester as its new Vice President of Procurement Strategy.

Blackhawk Network launches Select Codes to allow quick distribution of rewards.

NMI launches NMI Payments, a comprehensive embedded payments solution.

Tradeshift appoints Iain Balchin as Chief Financial Officer.

i2c Inc. adds new clients in Brazil, Dominican Republic, Mexico, Peru, and Puerto Rico.

Banking-as-a-Service

Nordic Capital inks agreement to acquire majority stake in SaaS core modernization provider Zafin.

Crypto

Crypto wallet app COCA introduces virtual cards.

Cryptocurrency exchange OKX expands to Argentina.

Crypto custodian BitGo acquires private securities and alternative investment infrastructure provider Brassica.

Open banking / Open finance

Moneyhub named supplier of Crown Commercial Service’s (CCS) Open Banking Dynamic Purchasing System framework for the U.K. government.

Akoya, Envestnet | Yodlee, MX, and Plaid to integrate into FIS’ Open Access platform.

FIS and Banked partner to create new pay-by-bank solutions.

Wealth management & Investing

Swedish investment platform Kameo secures $1.3 million (£1.1million) investment from Incore Invest.

Attune Solutions launches Attune WealthData powered by BridgeFT.

Clearwater Analytics launches Clearwater MLx, mortgage loan investment solution.

Blue Ocean Technologies and DriveWealth partner to expand geographic reach and trading services.

Exponential Markets receives strategic investment from Citi.

Card Issuance/Management

Card issuing platform Marqeta inks travel management software company, Internet Travel Solutions (ITS).

ConnexPay launches ConnexPay Flex, a new variable-rate virtual card.

Mastercard and the Bank of Punjab expand their partnership to cover the commercial segment.

Lending

Yardline and AMZ Pathfinder partner on ecommerce funding.

Traditional finance

Barclays to acquire Tesco Bank’s retail banking business.

AtlasClear combines with SPAC and acquires Wilson-Davis & Co.

NCR Atleos to bring surcharge-free cash access to American Express checking customers.

Clearwater Analytics extends support for accounting with fund accounting and pooled participant interaction.

Fraud & security

Signzy launches one-touch KYC for seamless digital onboarding.

TruShield Insurance collaborates with Visa to help address cybersecurity risks facing small businesses.

Tina Stewart joins Utimaco as Chief Marketing Officer.

Data Zoo names former London Stock Exchange Group executive Charlie Minutella as new CEO.

Canada’s EQ Bank partners with Trulioo for identity document and biometric verification.

Armilla AI lands $4.5 million in Seed funding to help de-risk AI adoption for enterprises.

Mortgagetech

Better launches digital VA loans powered by Tinman.

Photo by AbsolutVision on Unsplash

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Fintech Rundown: A Rapid Review of Weekly News

By David Penn Posted on February 7, 2024
Categories: 10x Banking, Alumni News, American Express, Daily news, Entrust Datacard, Fintech Rundown, FIS, Fyle, Jack Henry, Lending Club, MX, nCino, Onfido, Temenos, Thought Machine, Trustly, Weekly Alumni News, WorldPay

This week’s Fintech Rundown features partnership and expansion news from a handful of Finovate alums, as well as some interesting fundings in the cryptocurrency and charitable giving space.

Wealth Management

Digital wealth and payments company Mogo expands its relationship with data cloud company Snowflake.

U.K.-based wealth app Chip launches its first Cash ISA.

WiseAlpha unveils new wealth management portal and white-label solution.

Digital Banking

Segura Bank International (SBI), an FI based in Puerto Rico, launches a new digital bank powered by Temenos’ core banking platform.

North Carolina-based Mechanics & Farmers Bank has gone live on the nCino Cloud Banking Platform.

Indian payment solutions provider PayU migrates its credit service LazyPay to Thought Machine’s core banking platform.

10x Banking announces expansion to Africa, starting in South Africa.

Core banking provider Tuum raises $26.8 million (EUR 25 million) in Series B financing.

HSBC U.K. introduces its Cash Pod to expand customer access to cash in areas without bank branches.

Mortgagetech

Phoebus launches its SaaS-based mortgage servicing platform.

Raymond James Bank deploys ICE Mortgage Technology’s Encompass lending solution.

Payments

Atlantic Money secures authorization to bring its money transfer service to the U.S., Canada, and Australia.

Overflow, a fintech that facilitates charitable giving, raises $20 million in new funding.

Worldpay completes its separation from FIS.

Airwallex forges multi-year partnership with McLaren Formula 1 team to support its treasury management and cross-border payout operations.

MENA-based payment orchestration solution provider PayTabs Group partners with Saudi Arabian payment-infrastructure-as-a-service fintech Nearpay.

Lending

Pagaya secures a five-year, $280 million credit facility led by BlackRock, JPMorgan, and others.

Allica Bank completes more than £2 billion in lending to businesses in the U.K.

Challenger banking

LendingClub moves closer to fulfilling the requirements to launch a new bank.

Open banking / Open finance

MX and Jack Henry announce an expanded agreement to enhance data sharing.

Trustly integrates MX data enhancement as part of its Open Banking product suite.

Norway-based open banking company Neonomics teams up with credit management firm Lowell.

Expense management / BFM

The Boston Celtics name Brex as its corporate card and spend management partner.

Expense management platform Fyle forges new integration with American Express.

Cryptocurrencies / DeFi

Oobit, a cryptocurrency payments app based in Singapore, raised $25 million in Series A funding.

Fnality to bring its blockchain-based payment system to the U.S. following its successful launch in the U.K.

Embedded finance

EY announces an alliance with embedded finance platform MoneyLion.

Identity Verification/Management

Entrust confirms that it is negotiating a potential acquisition of ID verification firm Onfido.

Photo by Markus Winkler on Unsplash

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Fintech Rundown: A Rapid Review of Weekly News

By Julie Muhn (@julieschicktanz) Posted on January 29, 2024
Categories: Daily news, Fintech Rundown

Explore the latest and most pertinent fintech news in our weekly digest. Stay informed as we continuously update this post with breaking news throughout the week. Check back for real-time updates on how the fintech landscape evolves this week.

Lending

Rapid Finance partners with LoanPro to provide Lending-as-a-Service to small businesses across the U.S.

Union Bank selects Baker Hill NextGen consumer loan origination and TruStage compliance doc prep.

Lendica and CSG Forte partner to deliver an embedded business credit solution to small and medium sized businesses in the U.S.

YouLend secures deal with J.P. Morgan to extend £4 billion in additional financing to SMEs.

SellersFi launches a financing solution with Amazon to provide Amazon sellers with access to credit lines of up to $10 million through Amazon Lending.

CarGurus partners with Chase to expand consumer financing options.

Investing

Alinea Invest brings in $3.4 million to leverage AI for virtual assistant.

Payments

TrueLayer teams up with Worldline to offer instant payouts, deposits, and signups via Worldline Payment Orchestration.

Adyen partners with SME financial operations platform BILL.

B2B blockchain-enabled payment platform Paystand integrates with cloud-based ERP business management system Acumatica.

Brite Payments partners with Swedish EV charging platform Northe EV.

Kantox launches Kantox In-House FX to centralize FX management for global businesses.

PayPal and Venmo launch suite of new product updates.

PXP Financial becomes a Google Pay payment service provider.

Kueski Pay is now available on Amazon Mexico.

REPAY integrates with Lexop to provide seamless payments for credit unions.

BentoBox introduces its new Marketing & Commerce platform for restaurants.

First Bank selects CorServ’s Comprehensive Credit Card program.

TIFIN Give acquires Giving Place to expand its philanthropy platform for wealth enterprises.

CardFlight’s SwipeSimple now allows merchants to create and send invoices from their mobile devices.

Shopify makes 100+ updates.

Loyalty/ Rewards

Bilt Rewards receives $200 million equity investment led by General Catalyst.

Fraud & Security

Financial crime and risk management solution provider Abrigo launches its new AI-powered Fraud Detection platform.

Silverfort raises $116 million for its identity security platform.

Emirates NBD partners with Silent Eight to automate alert disposition and enhance compliance efficiency.

Digital Banking

Lloyds to end mobile banking van service.

KlariVis unveils new product and features within its enterprise banking analytics platform.

i2c partners with The Bank of Missouri to empower fintechs to rapidly launch digital banking products.

BNY Mellon launches virtual account-based solutions.

Challenger Banking

KOHO advances into phase two of Canadian banking license.

DeFi

PayPal Ventures invests in digital asset startup Mesh.

Compliance

Fintech Galaxy launches Open Banking compliance services in the UAE.

Card Issuance/Management

First Bank teams up with CorServ to implement its new credit card program.

Taxation/Accounting Solutions

Intelligent automation platform Xceptor partners with KPMG UK to offer advanced tax solutions for financial services companies.

Identity Verification

Digital identity verification specialist IDVerse teams up with GeoComply.

Photo by Markus Winkler

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Fintech Rundown: A Rapid Review of Weekly News

By Julie Muhn (@julieschicktanz) Posted on January 22, 2024
Categories: Daily news, Fintech Rundown

Lending

Moody’s Analytics partners with Numerated to boost its lending capacity.

Welsh, Carson, Anderson & Stowe to acquire EquiLend.

LoanDepot experiences cyberattack with 16.6 million customers’ personal information stolen.

Payments

Mastercard and The Clearing House announce an extension of their real-time payments partnership.

International payments and digital card platform BlinkSky secures $1.5 million in funding.

Bluefin announces global availability of PCI validated P2PE SmartPOS payment devices.

Thomson Reuters fronts $626 million cash bid for Pagero.

Viamericas partners with 24Xoro to expand real-time cross-border remittances to Mexico.

Visa inks partnership with Pesaflow to offer customers in Kenya better access to digital payment solutions.

Torpago and Marqeta launch Sunwest Bank’s Visionary card program.

Chris Cordes is named Head of People at ClassWallet.

Members of Fiserv’s uChoose Rewards program can now use their card rewards balances towards fuel purchases at bp and Amoco stations.

Mondu raises additional €30 million in debt financing from German bank Vereinigte Volksbank Raiffeisenbank.

Regtech

Regtech solution provider AQMetrics partners with CMC Markets.

European digital banking provider Satchel taps regtech AMLYZE to enhance its compliance standards.

Identity management

Automated identity verification specialist Onfido launches its Compliance Suite.

Identity security platform Silverfort secures $116 million in Series D funding at a valuation “around $1 billion”.

ATB Ventures’ Oliu teams up with Flinks to deliver frictionless digital ID verification using bank connectivity.

SF Fire Credit Union deploys Illuma’s Illuma Shield voice verification technology in its call center.

Digital banking

Varo to offer free tax prep and filing.

Pinwheel adds to its direct deposit solution courtesy of a partnership with Jack Henry.

Grow Financial Federal Credit Union streamlines, enhances self-service banking through partnership with NCR Atleos.

CSI appoints Roxanne Martinez as Chief People Officer.

Jack Henry’s Banno unveils Banno Business, a business banking solution for community and regional financial institutions.

Challenger banking

Starling Bank unveils new brand platform, The Bank Built for You.

Wealth management

Personal finance hub Plannix partners with open banking solution provider Salt Edge.

Objectway acquires digital wealth solutions provider Nest Wealth.

TIFIN announces the spin-off of TIFIN AG, an AI platform to help wealth enterprises drive net new assets.

Digital investment and wealth planning firm Marstone raises an $8 million Series B financing round led by Mendon Venture Partners and South Rose Capital.

Insurtech

Ansel, the insurtech previously known as Brella, raises $20 million in funding in a round led by Portage.

Cybersecurity/Fraud Prevention

Fraud prevention and AML platform SEON introduces new Chief Technology Officer Björn Heckel.

Fenergo appoints Andrew Brandman as Chief Customer Officer.

Photo by Pixabay

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