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Finovate Global Canada: Mortgagetech, Real-Time Payments, and Top Investment Trends

Finovate Global Canada: Mortgagetech, Real-Time Payments, and Top Investment Trends
By David Penn Posted on
Categories: Finovate Global, NCR Corporation, Ripple

This week’s edition of Finovate Global showcases recent fintech news from Canada.

Royal Bank of Canada acquires mortgagetech Pinch Financial

The Royal Bank of Canada (RBC) has acquired Toronto-based mortgagetech Pinch Financial. Terms of the transaction were not disclosed, but the move is designed to accelerate the decisioning process for mortgage borrowers throughout the country.

“This acquisition helps us deliver on our commitment to bring the best solutions to clients on their path to home ownership,” RBC SVP of Home Equity Financing Janet Boyle said in a statement. “Pinch’s technology will help us accelerate our digital roadmap to deliver a quicker, more streamlined mortgage experience for Canadians.”

Founded in 2016, Pinch Financial offers banks, lenders, and other financial services providers a platform that allows them to verify data and automate mortgage applications. The company’s technology verifies identity, income, assets, liabilities, source of the down payment, and creditworthiness to establish whether a borrower meets the requirements—from TDS and FICO to LTV and net worth—for rate and underwriting eligibility.

RBC already plays a major role in Canada’s mortgage market. The acquisition of Pinch Financial will help the bank serve customers who prefer to apply for home loans online instead of in-person at a branch.

“We started Pinch to make mortgages more relevant and familiar for digital-first consumers—making the qualification process faster, simpler, and more transparent for borrowers,” Pinch Financial CEO Andrew Wells said. “This acquisition gives us the opportunity to bring our technology to more Canadians while being part of a team that shares our vision for innovation in financial services.”

Canada’s largest bank by market capitalization and assets—and one of the largest banks in the world—RBC serves more than 19 million clients in Canada, the US, and 27 other countries. Headquartered in Toronto, Ontario, and boasting more than 101,000 employees, RBC reported total assets of $1.9 trillion CAD as of October 31, 2025. Dave McKay is President and CEO.

Wealthsimple becomes first Canadian fintech to join SWIFT

Canadian fintech Wealthsimple has secured a big “first” and a big “second” this week. The firm became the first Canadian fintech and the second non-bank fintech in the world to become a member of the SWIFT global financial messaging network. The company is currently completing final technical integration and security certification ahead of a full launch with clients expected later this spring.

“Many Canadians rely on international wire transfers, and yet to date, the experience has been clunky and expensive. We want to fix that,” Wealthsimple VP of Payment Strategy Hanna Zaidi said. “Our SWIFT membership is going to unlock faster, simpler, and more transparent international money transfers for the more than three million Canadians who trust Wealthsimple.”

SWIFT’s international messaging network serves 11,000 financial institutions around the world, facilitating trillions of dollars in payment volume. SWIFT makes the sending and receiving of international money transfers more seamless and efficient, while also providing end-to-end tracking visibility with real-time status updates.

Wealthsimple’s SWIFT membership is part of the company’s overall strategy to lower costs and boost efficiency for money movement in Canada. Wealthsimple also announced that it will be an early adopter of the country’s pending Real-Time Rail (RTR) payment system, making its clients among the first to benefit from instant money movement between institutions.

Founded in 2014 and headquartered in Toronto, Canada, Wealthsimple offers a wide range of financial products and services, including managed investing, do-it-yourself trading, cryptocurrency, tax filing, spending, and saving. The company serves more than three million Canadians and has more than $100 billion in assets under administration. Co-founder Michael Katchen is CEO.

KPMG: Canada fintech investment “moderated” in 2025

The bad news is that investment in Canadian fintech slowed in 2025. The good news is that this moderating pace comes on the heels of record highs notched in 2024.

KPMG International recently unveiled its Pulse of Fintech H2’25 and FY25 report. The document depicts a fintech investment landscape in Canada that has returned to more historic levels, with “sustained interest in later-stage companies, platform acquisitions, and strategically important fintech subsectors such as artificial intelligence and digital assets.”

Specifically, the comparison is $2.4 billion across 113 deals in 2025 versus $9.9 billion across 161 deals in 2024. The report notes that much of the deal value in 2024 came from two sizable transactions: Nuvei’s $6.3 billion public-to-private buyout and Plusgrade’s $1 billion private equity deal. In 2025, the two largest investments in Canadian fintech were the $898 million private equity buyout of Converge Technology Solutions and Wealthsimple’s $536 million equity raise.

The report notes that investment activity in the sector picked up in the second half of 2025, especially with regard to gains in average deal value. Dubie Cunningham, a partner in KPMG Canada’s Banking and Capital Markets Practice specializing in fintech, indicated that she believed the strength in the second half of 2025 augured well for strength in 2026. “The investment appetite for Canadian fintechs will continue to grow in 2026, as investors prioritize quality, scale, and strategic fit, signaling a market that is maturing and aligning more closely with long-term value creation,” Cunningham said.

Read the full KPMG report for much more.

Here is our look at fintech innovation around the world.

Central and Southern Asia

  • Pakistan-based digital banking platform Zindigi unveiled what it is billing as the country’s first “fintech credit card.”
  • Indian fintech Cred secured approval from the country’s central bank to operate as a payment aggregator.
  • IBS Intelligence looked at how fintech innovation in India is evolving from transaction rails to financial data rails.

Latin America and the Caribbean

Asia-Pacific

  • Cross-border payments platform Neema forged a partnership with China’s Alipay.
  • NCR Voyix agreed to sell its bank technology business in Japan to NTT Data.
  • An analysis of the Australian fintech sector by Deloitte Access Economics and FinTech Australia reported that the sector could grow to $71 billion in value by 2035.

Sub-Saharan Africa

  • Kenya and Rwanda inked an agreement that could enable digital payments companies licensed in one country to operate in the other.
  • South African fintech PayInc and First Capital Bank Botswana teamed up to launch instant cross-border payments.
  • The Fintech Times analyzed the fintech ecosystem of West African country, Burkina Faso.

Central and Eastern Europe

  • Part of Estonia’s Iute Group, IuteBank has begun operating as a regulated bank in Ukraine.
  • Lithuanian fintech PAYSTRAX announced an major expansion to its team, adding up to 150 new specialists.
  • Czech fintech Flowpay acquired Berlin, Germany-based SME financing firm Tapline.

Middle East and Northern Africa

  • Israel-based fintech Datarails launched a new solution to help companies reduce contract and subscription waste.
  • Kaspersky and UAE fintech Codebase teamed up to enhance digital banking security.
  • Moroccan fintech WafR secured $4 million in seed funding in a round co-led by LoftyInc Capital.

Photo by Guillaume Jaillet on Unsplash

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Finovate Global Europe: Competition, Profitability, and a Reckoning Year for Regulation

Finovate Global Europe: Competition, Profitability, and a Reckoning Year for Regulation
By David Penn Posted on
Categories: Finovate Global, NCR Corporation, PayPal, Thought Leadership

Last week, Finovate Global looked at how key trends are shaping fintech innovation in the UK. This week, our Friday column crosses the channel to consider the most significant forces shaping fintech innovation on the Continent, especially among advanced industrial economies in the West and Baltic north.

In our examination of the UK, we highlighted navigating regulatory complexity, accelerating technological transformation, and meeting rising customer expectations as three key issues facing banks and financial services providers there. These issues are also important to markets in the advanced markets of Europe. However, there are additional themes that distinguish the concerns of bankers in developed Europe from their colleagues in both the UK and the US.

Profitability and Competitiveness in the Shadow of NIRP

One of the challenges that European banks are still dealing with is the legacy of negative interest rates. Just as the US economy was emerging from its post-Global Financial Crisis (GFC)-initiated ZIRP or zero interest rate policy, the EU was plunging into what would be a seven-year experiment in negative interest rates (NIRP). A response to the threat of deflation in the wake of the Global Financial Crisis and, more acutely, the sovereign debt crisis of 2010-2012, the EU’s NIRP policy lasted longer and was more extreme, with rates falling to -0.50%.

The impact on EU banks has been significant. Even as interest rates have normalized since NIRP ended in 2022, net interest income for EU banks has remained squeezed, impeding profitability. Additionally, European banks suffer from structural challenges to greater profitability that extend beyond the legacy of NIRP. Among them is one fundamental issue: there are a lot of banks in Europe, arguably too many, all chasing too few customers. Considered on a per capita basis, countries such as Germany, Austria, Switzerland, and Italy have a very large number of banks and similar financial institutions relative to their populations. By comparison, the UK is significantly less “bank dense,” and even the US, which is often accused of having “too many banks,” is considered only moderately bank dense.

Along with excess capacity, issues of market fragmentation and high cost-to-income ratios all contribute to an environment in which achieving profitability as an EU bank remains a challenge. Banks struggling to make money often hesitate to make the necessary investments in technology that can help them reach new customers, access new markets, and offer new products and services.

A More Integrated Union? Overcoming Fragmentation to Enable Innovation

Both the EU and UK face challenges when it comes to digital transformation. But the differences between the two regions are significant and in some ways related to the issues of market fragmentation that plague EU bank profitability. When it comes to digital transformation and investing in technology, fragmentation and diversity between member states make the task more difficult and more expensive. Larger EU banks often have country- and product-specific legacy cores—sometimes even different cores built in multiple decades. These legacy cores not only fail to communicate well with each other, but also often exist in increasingly outdated mainframe environments. On the other hand, smaller banks and financial institutions in the EU often simply can’t afford major core replacements.

Uneven development and country-specific challenges often hold back fintech innovation in the EU. Even where the EU has effectively encouraged innovation, such as PSD2, which mandated open banking, adoption and implementation has varied widely by country. While open banking adoption rates in parts of Europe, such as the Baltics, are exceptional, many other countries, including Western European countries like France, Germany, and Spain, have had more modest rates of implementation. In this context, it will be interesting to see how the different countries embrace Wero, the new pan-European instant payments and wallet scheme currently being introduced throughout the EU. Here, countries like France, Germany, and Belgium are experiencing strong implementation and user adoption trends, while others, including Spain, Italy, and Switzerland are lagging.

How are some of the other enabling innovations—such as AI and DeFi—shaping banking and financial services in Western Europe? The European Banking Authority characterizes adoption of AI in its industry as “widespread but cautious.” Unsurprisingly, use cases in customer service are the most common, as is the use of AI to help in AML/CFT screening. In addition to customer service, streamlining internal workflows is another popular use case for AI among EU banks. Generally speaking, the larger markets of the EU—Germany, France, the Nordics—are experiencing the most robust use of AI in banking and financial services.

The story is similar with DeFi and blockchain technology adoption in banking: the larger countries tend to have more banks engaged in activities such as digital asset custody services, tokenization, and trade finance. One especially interesting development is the pursuit of a euro stablecoin, an effort led by a consortium of EU banks including ING, UniCredit, and SEB that is expected to lead to a MiCA-compliant euro stablecoin launch later this year.

A Regulatory Year of Reckoning for Payments, Crypto, and AI in the EU

There is a variety of regulatory events coming this year. Some of them are the latest chapters in policies that were enacted last year, while others will make their compliance debut here in 2026. With regard to the former, regulations such as DORA (Digital Operational Resilience Regulation) which was passed in 2025 and deals with ICT, third-party, and operational risk, will continue to have an impact as institutions look to ensure compliance with resilience requirements for governance, testing, and incident reporting. Elements of the Basel III reforms, initially designed to help fortify banks in the wake of the Global Financial Crisis, have been postponed from scheduled implementation this year to 2027. Speaking of postponements, another significant regulation, the Enhanced Operational Risk Reporting Deadline, has been moved forward to June of this year.

Other key regulatory developments to anticipate for EU banks and financial services providers include the rollout of new payment regulations including PSD3, which focuses on licensing and institutional requirements, and PSR (Payment Services Regulation), which deals with day-to-day operational issues. PSD3, in particular, will be an important mandate insofar as it seeks to correct a number of problems with the previous open banking directive, PSD2. PSD3 features significant guidelines and requirements with regard to fraud prevention and liability, and also paves the way for open finance.

What about the enabling technologies highlighted in the previous section? With regard to DeFi and crypto, the Markets in Crypto-Assets Regulation (MiCA) comes fully into effect in 2026. Among the requirements are that cryptocurrency firms must have MiCA licenses to operate by the middle of the year. While this will address centralized service providers (CASPs) in the DeFi market, it does not specifically define the parameters of DeFi, including what services should be subject to MiCA. This conversation will be key for EU policy-makers in 2026.

As for AI, 2026 will be a big year, as well. Enacted in 2024, the EU AI Act will require AI systems designated as “high risk” to adhere to new guidelines with regards to creditworthiness, loan origination, risk evaluation, and automated decisioning. Additionally, the Act will require these systems to use strong governance, risk management documentation, transparency, human oversight, and quality control. Note that the Act categorizes AI systems by risk: minimal/no risk, which is virtually unregulated; limited risk, where compliance consists largely of transparency obligations; high risk, which is strictly regulated; and banned AI, which includes capabilities such as social scoring by governments and real-time remote biometric identification. Another key development is the launch of national AI regulatory sandboxes in each EU member state by August of this year, as mandated by the Act. Here, both Denmark and Spain have been credited as being ahead of the game in terms of getting these initiatives underway.

Here is our look at fintech innovation around the world.

Asia-Pacific

  • Singapore-based Airwallex acquired Paynuri in bid to enter the South Korean market.
  • Indonesian fintech UangCermat raised $26.4 million in a combination of equity and credit facilities.
  • Vietnam announced that crypto firms that want to participate in the country’s pilot digital asset market will need a minimum capitalization of VND 10 trillion ($400 million).

Sub-Saharan Africa

  • Payment software firm Akurateco forged a strategic partnership with African digital payments service provider Payaza.
  • Two South African fintechs—Johannesburg’s RelyComply and Cape Town’s Ozow—teamed up to enhance security for digital payments in the country.
  • The Africa Report profiled SycaPay, the first fintech to be licensed by the Central Bank of West African States (BCEAO).

Central and Eastern Europe

  • German KYB/KYC lifecycle management platform Sinpex raised €10 million in Series A financing.
  • Greece-based Epirus Bank teamed up with NCR Atleos to modernize and expand its ATM network.
  • Berlin-based climate fintech Cloover secured a $1.2 billion debt facility and raised $22 million in Series A funding.

Middle East and Northern Africa

  • PayPal acquired Israel-based agentic commerce innovator Cymbio.
  • Financial infrastructure and payment solutions provider Montran opened a new office in Dubai.
  • Saudi Arabia’s EdfaPay, a payment infrastructure solutions company, secured approval to launch SmartPOS service in the Kingdom.

Central and Southern Asia

  • Indian digital payments giant PhonePe secured approval from the country’s financial regulator to launch an IPO, slated for mid-2026.
  • Pakistan-based fintech Neem raised an undisclosed sum in Pre-Series A funding in a round that featured participation from Epic Angels, the largest all-female investment collective in the world.
  • Kazakhstan enacted a range of new laws to regulate digital assets and to allow banks to expand into fintech, AI, and digital payments infrastructure.

Latin America and the Caribbean

  • Uruguayan cross-border payment platform dLocal teamed up with international AI device ecosystem company HONOR to launch local payments in Peru.
  • Cryptocurrency exchange Bybit launched Bybit Pay in Peru via integrations with the country’s Yape and Plin digital payment platforms.
  • UK-based stablecoin infrastructure company Noah partnered with Brazil-based digital wallet and investment platform Picnic.

Photo by Marco

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InComm Partners with NCR Atleos on Cardless Cash ATMs

InComm Partners with NCR Atleos on Cardless Cash ATMs
By David Penn Posted on
Categories: Alumni News, InComm, NCR Corporation
  • InComm Payments and NCR Atleos (dba Atleos) have forged a new partnership that will enable cardless cash pickup at more than 23,000 ATMs around the US.
  • The partnership will help InComm cover the “digital-to-physical” gap when it comes to self-service cash payments.
  • Founded in 1992, InComm made its Finovate debut at FinovateFall 2011. NCR Atleos was formed when NCR Corporation split into two entities (the other being NCR Voyix).

Want cash but don’t have your card? A new partnership between InComm Payments and NCR Atleos might have you covered.

InComm Payments has adopted Atleos’ ReadyCode API which will enable InComm Payments’ fintech and banking partners to offer cardless cash pickup at more than 23,000 ATMs around the country. The partnership offers a scaled ATM network and API solution in ReadyCode that will help InComm Payments bridge the “digital-to-physical” cash payments gap and allow consumers to make cardless cash withdrawals via a simple and secure code delivered through their preferred application. ReadyCode is currently enabled in ATMs in retail locations in more than 40 states in the US.

“Atleos’ ReadyCode API offering provides an additional modality and channel for our money movement partners and their consumers to access cash in a self-service manner at ATMs located at some of the nation’s most convenient retailers,” InComm Payments VP of Product John Houseal said. “This service expands our cash-out network in a new way, connecting our partners with differentiated access to serve their customers beyond the counter.”

Atlanta, Georgia-based InComm Payments made its Finovate debut at FinovateFall 2011. The company also participated in our developers conference, FinDEVr SiliconValley 2014 (in partnership with Cashtie). Founded in 1992, InComm today delivers end-to-end payment platforms that enable omnichannel connections and alternative payment options for companies in industries ranging from financial services and gifting to healthcare and human resources. Operating in more than 40 countries around the world, InComm has more than 525,000 points of retail distribution, processes more than $65 billion in annual transaction volume, and manages more than one billion cards a year.

“Enabling InComm Payments’ broad and deep program relationships with access to the ReadyCode solution will provide more flexibility for consumers to transact where and how they want, without the need for a card,” Atleos SVP, Global Network Solutions, Ben Bregman said. “This relationship will also provide additional use cases to drive utilization of the ATM for increasingly digital-first providers beyond traditional financial institutions, and continue to fulfill on our promise to our retail partners to drive incremental foot traffic to their stores.”

Formed in 2023 when NCR Corporation split into two entities (the other being NCR Voyix), NCR Atleos offers self-service financial access through one of the largest independently-owned ATM networks in the US. Based in Atlanta, Georgia, the company helps boost operational efficiency for financial institutions, increase footfall for retailers, and provide consumers with the kind of digital-first, self-service financial experiences that are secure and convenient. Atleos is a publicly traded company on the New York Stock Exchange, under the ticker NATL, and has a market capitalization of $2 billion. Tim Oliver is President and Chief Executive Officer.

Photo by Stephen Cook 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: Bud, Experian, Fintech Rundown, InComm, NCR Corporation, Tuum

A holiday-shortened week begins with Independence Day in the US celebrated on Friday. Be sure to check with Finovate’s Fintech Rundown for the latest fintech news as the second half of 2025 gets underway in earnest!

Digital banking

Greece-based core banking vendor Natech raises $33 million in Series B funding.

Core banking platform Tuum forges strategic partnership with Romanian bank maib. Tuum won Best of Show at FinovateEurope 2024.

Qonto files for banking license as it reaches 600,000 customers.

Fraud prevention

Trade surveillance and financial risk solutions company Eventus partners with trading platform Blue Ocean Technologies.

Credit and analytics

SaaS commercial credit bureau CreditProtect goes live with support from Experian.

Financial empowerment platform partners with transaction enrichment and insights and analytics specialist Bud Financial.

Crypto and DeFi

Identity and payments platform Bolt unveils Bolt Connect to streamline the onboarding process for merchants and integrate stablecoin payments.

Wirex announces that its Wirex Pay Chain is now supported on digital asset and payments infrastructure platform Fireblocks.

Cryptocurrency trading platform Kraken secures a Markets in Crypto Assets (MiCA) license in Ireland.

Small business solutions

Spend management platform Spendbase introduces new digital banking and virtual cards.

Payments

InComm and NCR Atleos team up to launch a suite of new self-service ATM solutions across the US.

Papaya Global works with Citi to enhance global payments ecosystem.

Yaspa receives $12 million investment for its instant payment and identity services.

Photo by Chris Hardy 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: Backbase, Bluefin Payment Systems, Fintech Rundown, NCR Corporation, SaveAway

The Finovate team is back from another successful FinovateEurope fintech conference. We will share our event reviews, including key moments and top takeaways, on the Finovate blog in the days to come.

In the meanwhile, the Fintech Rundown is here to help us all catch up on the latest fintech news and announcements.

Payments

Bluefin forges collaboration with Fiscal Systems to leverage PCI-validated point-to-point encryption to boost payment security and data protection in the fuel industry.

Cross-border payments company MANSA raises $10 million in funding.

Global payout orchestration platform PayQuicker expands its instant payout and local currency solution for clinical trialsto the UK and EU.

Digital banking and infrastructure

Backbase announces strategic partnership with digital transformation company, Siili Solutions.

Utah Community Credit Union (UCCU) joins NCR Atleos’ Allpoint Network.

Financial wellness

SaveAway announces 25 for 25 campaign, as well as a range of platform enhancements, ahead of the company’s return to SXSW.

Crypto / DeFi

Bay Federal Credit Union joins Metallicus’ Metal Blockchain Banking Innovation Program.

London-based Netmind.AI unveils its decentralized AI agent society, NetMind XYZ.

Risk management

Risk and business intelligence solutions provider SRA Watchtower raises $4 million in funding in a round led by FINTOP Capital, JAM FINTOP, and EJF Capital.

Photo by Tanathip Rattanatum

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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: 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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Travelex Selects NCR Atleos to Revamp ATMs

Travelex Selects NCR Atleos to Revamp ATMs
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Daily news, NCR Corporation
  • Travelex is partnering with NCR Atleos to upgrade 600 ATMs across eight countries.
  • Travelex will replace its old machines with NCR Atleos’ SelfServ ATMs equipped with advanced software and Vision, a SaaS monitoring tool.
  • NCR Atleos will also facilitate Click and Collect functionality, which allows U.K. customers to pre-order currency online for fast, in-person pick-up at select airport ATMs.

Foreign exchange and travel services company Travelex announced today it has selected NCR Atleos to replace a set of its ATMs. The new machines will replace Travelex’s old ones in locations across the U.K., Netherlands, Switzerland, Germany, Italy, Czech Republic, Australia, and New Zealand.

In an effort to refresh its international ATMs, the U.K.-based company is swapping out the hardware and software of its 600 ATMs across eight countries. In their place, Travelex will put NCR Atleos’ SelfServ ATMs loaded with the company’s software and Vision, a SaaS monitoring tool.

“Travelex is dedicated to simplifying our customers’ access to international money, however and whenever they choose, and our expanded partnership with Atleos directly supports this mission,” said Travelex Chief Customer Officer Simon Jackson. “By relying on the experts at NCR Atleos for the implementation of modern ATM technology, we gain efficiencies and streamlined operations while adding value for our customers, ensuring travellers across the globe have reliable, secure and easy access to their cash.”

The new ATMs will not only be able to support domestic currency transactions, but they will also offer enhanced capabilities that leverage the machines’ touch screens and barcode readers. Some areas will also offer ATMs with contactless readers, which enable customers to make withdraws by tapping a card or an NFC-enabled phone or smartwatch.

The SelfServ ATM also supports Travelex’s Click and Collect, a function to help U.K. customers pre-order foreign currency online at a favorable rate, then pick it up at one of 50 of Travelex’s airport ATM locations in the U.K. “We are making it possible for travelers to access currency exchange via self-service,” explained NCR Atleos Executive Vice President, Global Sales Diego Navarrete. “We are proud to support Travelex in enhancing their ATM infrastructure, ultimately continuing to expand financial access for consumers around the world.”

This is not the first time the two have teamed up. NCR Atleos has powered Travelex ATMs in other markets in the past. NCR Atleos previously supported Travelex ATMs in other geographies at airports and travel hubs.

Founded as NCR Corporation in 1881, the firm spun out NCR Atleos in October of 2023 to run as an independent company focused on ATMs. Headquartered in Atlanta, Georgia, NCR Atleos employs 20,000 people across the globe to facilitate hardware, software, and service for line of ATM-related technology.

Travelex’s integration of features like contactless transactions, touch screens, and barcode readers will set a new standard for ATMs. This reflects the industry’s focus on both improving efficiency and enhancing the customer experience.

Photo by Te lensFix

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NCR Voyix Sells Digital Banking Business to Veritas Capital

NCR Voyix Sells Digital Banking Business to Veritas Capital
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Daily news, Mergers & Acquisitions, NCR Corporation
  • NCR Voyix is selling its digital banking business to private equity firm Veritas Capital.
  • The deal is expected to close by the end of 2024 for $2.45 billion in cash plus a future contingent installment of up to $100 million.
  • NCR Voyix, which recently split from NCR, expects the move will help it focus on its core software and services offerings for restaurants and retailers.

Digital commerce provider NCR Voyix is simplifying its operations this week. The Georgia-based fintech has agreed to sell its cloud-based digital banking business to an affiliate of private equity firm Veritas Capital. Under the terms of the agreement, NCR Voyix will sell its digital banking unit for $2.45 billion in cash plus a future additional installment of up to $100 million, contingent on terms.

The deal is expected to close by the end of 2024.

NCR Voyix launched its digital banking platform in 2014 and has since evolved significantly. The banking suite aims to offer its 1,300 financial institution clients a comprehensive banking environment for their 20 million active retail and commercial banking customers. For retail banking, NCR Voyix provides online and mobile banking, personal financial management, and customer engagement tools. For commercial banking, the platform includes services such as cash management, treasury services, and business banking solutions.

“Our Digital-First solution suite has been strategically designed to grow and expand with our customers over time as their retail and business banking distribution and customer engagement strategies evolve,” said NCR Voyix Executive Vice President and President of Digital Banking Brendan Tansill. “Veritas brings a proven track record of successfully executing similar business carveouts and subsequently driving growth. We look forward to working alongside their experienced team as we continue to pursue commerce and banking innovations that help our customers and their users succeed.”

Veritas’ CEO and Managing Partner Ramzi Musallam said that NCR Voyix’s digital banking platform shows “significant runway for growth.” He added that the purchase represented a significant opportunity to invest in a solution that will empower a range of financial institutions.

For NCR Voyix, the deal is a byproduct of efforts to streamline its operations to focus on its core software and services offerings for restaurants and retailers. The move comes after NCR separated its ATM-focused business from its digital commerce operations in October of 2023.

The company will use the proceeds of today’s deal to accelerate select financial objectives, including de-levering its balance sheet, which will allow for greater strategic investment in NCR Voyix’s core businesses. As company CEO David Wilkinson explained, “This transaction allows us to drive value for our shareholders by strengthening our financial position and focusing on our core restaurant and retail customers.”

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: 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 David Penn Posted on
Categories: ACI Worldwide, Boku, NCR Corporation, WorldPay

The week begins as banks, fintechs, and financial services companies alike work to recover from Friday’s historic IT outage.

Be sure to check back throughout the week as we continue to track the latest in fintech news and announcements.

Cybersecurity

BBVA inks agreement with Telefónica Tech; opens international cybersecurity center in Mexico.

Galileo Financial Technologies adds 3D Secure to bolster online fraud protection.

Identity verification

IDenfy launches automated bill verification tool for utilities.

Veriff enhances biometric authentication solution to prevent account takeover fraud.

Payments

International payment services company PXP Financial launches its Partner Portal.

Online payment service provider PayU GPO introduces new Chief Risk Officer Simona Covaliu.

ACI Worldwide extends its strategic partnership with Worldpay.

Payment processor and ledger infrastructure provider Episode Six announces that its issuer payment solution is now available on the AWS Marketplace.

Mobile payment solutions provider Boku introduces new Chief Financial Officer Rob Whittick.

Pay-by-Bank solutions company Aeropay launches its proprietary bank aggregator, Aerosync.

Accounting

Legaltech Clio unveils Clio Accounting, the latest addition to its suite of fintech offerings for legal professionals.

Investing and wealth management

Franklin Templeton partners with investment management, accounting, reporting, and analytics provider Clearwater Analytics.

Data management and operations technology provider Arcesium unveils its investment lifecycle management platform, Opterra.

AI and innovation wealth platform TIFIN announces international expansion to India and strategic investment from DSP Group.

Credit unions

Black Hills Federal Credit Union ($2.3 billion in assets) teams up with NCR Atleos’ ATM-as-a-Service and ITM-as-a-Service offerings.

Small business

AI-powered spend management platform Brex introduces new Chief Compliance Officer Sibongile Ngako.

Digital banking

Rabobank selects Zafin to power digital transformation efforts.

Photo by Markus Spiske

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Glia Brings Interactive Technology to NCR Voyix’s Mobile Solution

Glia Brings Interactive Technology to NCR Voyix’s Mobile Solution
By David Penn Posted on
Categories: Alumni News, Daily news, Glia, NCR Corporation
  • NCR Voyix has teamed up with customer interactive technology company Glia.
  • Glia will integrate its unified interaction capabilities into the mobile version of NCR Voyix’s digital banking platform.
  • Glia has won Finovate’s Best of Show award 10 times, including in the company’s debut (as SaleMove) at FinovateFall 2015.

NCR Voyix’s mobile banking app just got a lot more interactive.

Courtesy of a partnership with Glia, NCR Voyix will enhance the mobile version of its Digital Banking platform with unified interaction capabilities. Glia’s ChannelLess Architecture enables seamless transitions between multiple interaction channels: from phone calls and digital messaging to chatbots, video chats, and SMS. Now a part of NCR Voyix’s mobile solution, the technology will help banks and credit unions boost customer and member engagement and loyalty.

Glia Chief Product Officer Jay Choi talked about the importance of the mobile channel for a younger, generation of financial services customers. “Forcing customers to exit the mobile app experience to receive guidance or support results in inefficiencies, delays in resolutions, and frustration for all involved,” Choi explained. “With the integration of our digital-first tools into the NCR Voyix mobile app, we are empowering banks and credit unions to overcome this challenge, instead providing instant, personalized and seamless engagement where customers and members already are.”

Among the FIs to deploy the technology are Texas-based 5 Point Credit Union, which has credited Glia’s solution for increasing staff efficiency, simplifying processes, and reducing fraud. The credit union also underscored how the technology enhanced its ability to communicate and engage with its members, improving in-app support.

Founded in 2012 and headquartered in New York, Glia won Best of Show in its Finovate debut at FinovateFall 2015 (as SaleMove). The company has gone on to win a total of 10 Finovate Best of Show awards, including in its most recent appearance on Finovate’s digital stage in 2021.

Last month, Glia unveiled its responsible AI platform purpose-built for financial services companies called Glia Cortex. The technology provides personalized self-service experiences at scale, helps agents become more productive, and gives managers new insights into agent/customer interactions. Among the solution’s early adopters is Service 1st Federal Credit Union, a Danville, Pennsylvania-based institution founded in 1975.

NCR Voyix was formed in October 2023 when NCR Corporation split into two entities. The company’s ATM business was spun-off as NCR Atleos. NCR Voyix is the successor to NCR Corporation, which demoed its technology at FinovateSpring in 2016 and again in 2017.

Photo by Ketut Subiyanto

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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: 1Kosmos, Equifax, FICO, Fintech Rundown, NCR Corporation, NICE Systems, Zighra

As part of the Eastern U.S. prepares to enjoy the total solar eclipse today, fintech enthusiasts can also eclipse the competition with the latest news and updates in the fintech world. Check back for real-time updates on how the fintech landscape evolves this week.

Payments

Business payments and financial platform Airwallex launches its Borderless Visa card in Canada.

Mexican BNPL provider Kueski introduces in-store mobile payment solution.

Urguayan fintech dLocal partners with payroll and payments platform Papaya Global.

International money movement company TerraPay secures Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS).

ClearBank achieves first full year of profitability.

TransferGo raises $10 million, doubling its valuation.

Kyriba and Onyx by J.P. Morgan (Onyx) leverage the blockchain to streamline cross-border payments.

Arizona Financial Credit Union (AZFCU) selects NCR Atleos’ ATM as a Service (ATMaaS) to increase operational efficiencies within the self-service banking channel.

The Clearing House’s RTP experienced a record 76 million transactions valued at $42 billion in the first quarter of this year.

Fraud and security

NICE Actimize introduces new integrated, AI-driven fraud management platform.

Passwordless authentication specialist 1Kosmos appoints Christine Owen as Field CTO.

Enterprise AI solution provider SymphonyAI unveils its SensaAI for Sanctions offering.

Oracle introduces new AI-powered cloud service to enhance AML compliance for banks.

Canadian Coast Guard awards contract to Zighra.

Sprinto raises $20 million for compliance management.

Data management

Gen II Fund Services launches Sensr DataBridge to help private equity sponsors access crucial fund data.

Lending

Florida’s Space Coast Credit Union (SCCU) expands its partnership with MeridianLink.

Worth AI taps Equifax to help improve underwriting and risk management for small businesses.

Banking

Navy Federal Credit Union forms 7-year strategic partnership with Backbase.

Insurtech

Insurtech company bolt introduces its new North American CFO Matt More.

American Family Life Insurance Company partners with Munich Re Automation Solutions for its automated underwriting and analytics solution.

Lemonade launches homeowners insurance in France.

Regtech and compliance

Corlytics receives investment from Verdane for its compliance technology.

Wealthtech

Investment research platform Tegus launches its AI chat tool, AskTegus.

Open banking

Open banking powered account-to-account payment infrastructure provider Token.io introduces new Chief Commercial Officer Ronnie d’Arienzo, new Chief Financial Officer Tatiana Okhotina, and new Chief Operations Officer Tim Corke.

Atto, a credit risk solutions provider based in the U.K., teams up with analytics software firm FICO to bring open banking data into U.K. credit scoring.

Photo by melissa mayes

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