Fintech Rundown: A Rapid Review of Weekly News

Fintech Rundown: A Rapid Review of Weekly News

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


E-commerce

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

Regtech

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

Payments

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

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

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

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

Identity management

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

Crypto / DeFi

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

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

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

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

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

Lending

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

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

Digital banking

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

Wealth management

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

Open banking

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

Financial literacy

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

Embedded finance

Regtech Kobalt Labs joins the Treasury Prime Partner Marketplace.

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

Accounting and taxes

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

Fraud and financial crime prevention

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


Photo by Roman Kraft on Unsplash

Fintech Rundown: A Rapid Review of Weekly News

Fintech Rundown: A Rapid Review of 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)

Trustly and Socure Partner to Offer Open Banking Pay-by-Bank Solution with Enhanced Onboarding

Trustly and Socure Partner to Offer Open Banking Pay-by-Bank Solution with Enhanced Onboarding
  • Pay by bank expert Trustly and digital identity solutions provider Socure have teamed up this week.
  • Together, the companies will offer streamlined onboarding through Trustly’s Pay By Bank services. 
  • Pay-by-bank is expected to see growth this year because of its potential to offer merchants enhanced security, increased speed of payments, and cost savings.

Online payments expert Trustly and digital identity verification and fraud solutions provider Socure are combining their expertis, to launch a pay-by-bank solution with enhanced onboarding, leveraging the power of open banking.

The new tool will offer businesses in a range of sectors– including investing, gaming, trading, and financial services– streamlined onboarding capabilities combined with pay-by-bank functionality. Specifically, Socure’s ID+ platform, leveraging AI-driven predictive analytics, will be integrated with Trustly’s direct banking integration Pay By Bank offering, enabling merchants to seamlessly onboard users and process payments in a single unified process.

“Combining open banking with KYC and screening greatly enhances the robustness of user onboarding and incorporates a seamless payment solution, providing consumers the ultimate onboarding experience,” said Trustly Chief Business Development Officer Craig McDonald. 

On the fraud side, the augmented pay-by-bank solution enhances not only KYC compliance, but also fraud detection and ID verification capabilities, which are crucial in today’s era of advanced deepfakes and synthetic identities. Additionally, the tool helps merchants benefit from the power of open banking, which offers instant and guaranteed payments because they are authorized directly by the bank. This provides a higher level of security compared to other payment methods.

“We are very excited about our partnership with Trustly and its pay-by-bank business model. We think this diversity in payment types brought about by open banking is representative of a new era for consumer choice,” said Evan Rabinowitz, Vice President of Business Development at Socure. “We have a shared belief that trusted identity is essential to the transformation of open and connected banking.”

Trustly was founded in 2008 and today connects its 8,300 merchant clients with 650 million consumers and 12,000 banks in more than 30 countries. The company’s pay-by-bank network currently processes over $42 billion in transaction volume each year. In 2018, Nordic Capital bought Trustly for an undisclosed amount, and since then, Trustly has acquired three companies of its own, including SlimPay, Ecospend, and PayWithMyBank.

Trustly is positioned for growth in 2024, especially in the U.S., which offer significant potential. According to Financial Brand contributor Steve Cocheo, “Pay-by-bank services will accelerate in 2024 in the U.S., driven by a combination of at least five converging trends: the growing availability of real-time payment rails; increased interest from businesses seeking to avoid card processing fees and gain faster access to funds; increasing democratization of payments; a move away from subscriptions to micropayments, and even a potentially big push courtesy of Elon Musk’s banking ambitions.”

Nevada-based Socure was founded in 2012, focusing on its digital identity verification solution. As many services have moved online and ecommerce has accelerated, the company has grown, helping 2,000 customers– including SoFi, Chime, and Capital One– in verifying the identities of their end consumers to help prevent fraud. Socure has raised more than $744 million. Johnny Ayers is Founder and CEO.

Fintech Rundown: A Rapid Review of Weekly News

Fintech Rundown: A Rapid Review of Weekly News

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

Trustly Forges Strategic Partnership with Nordnet to Bring Instant Deposits to Nordic Investors

Trustly Forges Strategic Partnership with Nordnet to Bring Instant Deposits to Nordic Investors
  • Payments platform Trustly announced a strategic partnership with Sweden’s Nordnet.
  • The partnership will enable Nordnet customers to easily and securely deposit funds using Trustly pay-ins.
  • Trustly, which made its Finovate debut at FinovateEurope 2013, was acquired by Nordic Capital in 2018.

A new strategic partnership between open banking, account-to-account (A2A) payments platform Trustly and Nordnet will enable customers of the Swedish savings and investment solution to easily and securely deposit funds in their accounts. The pact brings instant deposits to the whole Nordic region, including markets where instant payments are not yet available.

The new service is going live in Sweden initially, and will be available to all new customers who sign up for a Nordnet account. The service will launch in Norway in the first quarter of this year, and in Denmark and Finland later in 2023.

“Trustly’s technology and customer focus made them a natural choice and good fit for Nordnet in our ongoing work to build the best platform for savings and investments,” Nordnet Chief Product Officer and Deputy CEO Rasmus Järborg said. “With Trustly, our customers are able to fund their accounts instantly and start discovering what stocks or funds they want to buy.”

Founded in 1996 as Sweden’s first Internet broker, Nordnet currently provides savings, investment, lending, and pension services to customers in Sweden, Norway, Denmark, and Finland. Nordnet operates the region’s largest social investment network, Shareville, which boasts more than 300,000 members.

The company also offers margin lending, residential mortgages, and unsecured personal loans both under its own brand and under the subsidiary Konsumentkredit. As a pension solutions provider, Nordnet offers endowment insurance in Sweden and Norway and, for Swedish customers, provides a digital pension management service. Headquartered in Stockholm, the firm reported total assets of more than $22.8 billion in 2021.

Trustly made its Finovate debut at FinovateEurope in London in 2013 and returned to the Finovate stage four years later for FinovateEurope 2017. The company was acquired by Nordic Capital for an undisclosed sum in 2018, and has since forged partnerships with companies ranging from Alibaba.com to NACHA to IKEA. Last year, Trustly acquired U.K. open banking vendor Ecospend (terms not disclosed). In November, the company welcomed back Alex Gontheir as CEO of its Americas division. Gontheir founded and led PayWithMyBank as CEO. PayWithMyBank merged with Trustly in 2019 and Gontheir became Executive Chairman in 2021.


Photo by Jan Židlický

Trustly to Acquire Ecospend

Trustly to Acquire Ecospend
  • Sweden-based account-to-account payments specialist Trustly will acquire U.K.-based open banking payments platform Ecospend.
  • Trustly anticipates the deal will help accelerate its move into the U.K. market.
  • Financial terms of the deal were undisclosed.

Global payments fintech Trustly announced plans to acquire U.K.-based open banking payments platform Ecospend this week. Trustly anticipates that the deal, which will close for an undisclosed amount, will complement the company’s account-to-account (A2A) payments platform and accelerate its rollout in the U.K.

The U.K. is a key geographical market for Sweden-based Trustly. The company set a goal to be the market leader in the U.K., and today’s acquisition accelerates Trustly’s journey towards that target. “I am delighted to welcome Ecospend to Trustly,” said Trustly CEO Johan Tjärnberg. “This is a perfect strategic fit and I am convinced that it will enable us to deliver a market-leading product in the U.K., allowing us to capture opportunities and accelerate our current U.K. expansion.”

Ecospend was founded in 2017 and is now a regulated A2A payments provider for the U.K.’s Financial Conduct Authority (FCA). Leveraging this certification, the company seeks to power open banking payments and financial data services. In the past year, Ecospend has processed over $6.3 billion (£5 billion) in A2A payments to over two million consumers. The company connects with 80+ U.K. banks, making it a valuable asset to Trustly’s A2A payments service.

“We will continue to leverage our market-leading technology and bank connectivity in the U.K. and, together with Trustly, broaden our capabilities to stretch across Europe and further markets,” said Ecospend Founder Metin Erkman. “We are really excited to join the Trustly family.”

Trustly was founded in 2008 and offers a simple A2A payments platform that doesn’t require the user to sign up, enter their card or bank numbers, or provide any billing information. From a merchant perspective, Trustly offers a card-not-present payments experience that provides a secure way for consumers to transact using their online banking credentials. The A2A nature of the payments experience is superior to traditional card payments because it offers stronger user authentication, higher approval rates, and guarantees payments with no risk of chargebacks.

A FinovateEurope 2017 alum, Trustly works with more than 8,100 merchants, helping them connect with 525 million consumers and 6,300 banks across 30 countries.


Photo by Christina Morillo

Trustly Launches Instant Payouts for U.S. Users

Trustly Launches Instant Payouts for U.S. Users

Trustly, the company that helps customers pay directly from their bank account, launched Instant Payouts for U.S. users this week.

The service helps U.S. businesses provide their clients with near-instant payouts to their bank accounts. Instant Payouts in the U.S. is made possible via a partnership with Cross River Bank, which participates in The Clearing House’s (TCH) RTP network, a real-time payments rail.

Trustly’s business users can fund payments with Cross River Bank, which will send RTP payments on their behalf to their customers’ accounts at other participating RTP banks.

“The RTP network provides a platform for financial institutions and their corporate users to create innovative new payment products for their customers,” said TCH SVP of technology and Innovation Bijan Chowdhury. “Trustly’s partnership with Cross River Bank to deliver Instant Payouts to U.S. businesses and Cross River Bank’s use of the RTP network to send instant payments to the the businesses’ customers illustrates the power of the RTP network to boost innovation in the payments industry.”

Trustly was founded in 2008 and supports card-not-present payments for online merchants to offer a secure way for consumers to transact using their online banking access credentials. Last year, the company processed over $21 billion in transaction volume in its network. At FinovateEurope 2017, the company debuted Direct Debit, a payment offering that removes the pain of entering payment card information by allowing users to transact using their current account by entering their bank login credentials.

Trustly works with more than 8,100 merchants, helping them connect with 525 million consumers and 6,300 banks across 30 countries. The company has 500 employees across Europe, North America, and Latin America.


Photo by Luis Miguel P. Bonilla from Pexels

Neobanks in South America; Swedish Payments Firm Trustly Eyes $11 Billion IPO

Neobanks in South America; Swedish Payments Firm Trustly Eyes $11 Billion IPO

Earlier this week we reported on the $400 million Series G closed by Brazilian neobank – and Finovate alum – Nubank. The firm, founded in 2013 and based in Sao Paulo, serves more than 34 million customers in Brazil, Mexico, and Colombia, and offers a digital savings account, a no-fee credit card, as well as personal loans. This week’s investment boosts the company’s total capital to $1.2 billion and gives the Brazilian digital bank a valuation of $25 billion.

We also suggested that Nubank’s news was a good opportunity for fintech fans to “brush up” on fintech in general when it comes to Latin America – and the region’s challenger banking industry in specific. To this end, for this week’s Finovate Global Reports, we are sharing this look at neobanks in South America, courtesy of Fintechnews Switzerland.

“South America has seen an exceptionally dynamic evolution of its neobanking landscape,” the authors wrote, “with now more than 30 live neobanks and digital banks that serve over 50 million customers out of the region’s 430 million+ population (+11%), data from Dutch fintech consultancy firm Fincog shows.”

An Overview of South America’s Booming Neobanking Sector is a great way to get to know how and why challenger banks are finding fertile ground in countries ranging from Brazil and Colombia to Peru and Argentina.


Swedish payments company Trustly, which made its Finovate debut back in 2013 at FinovateEurope in London, is betting that even after a year that featured a record number of initial public offerings, the investing public is hungry for more.

Reuters reported earlier this week that Trustly is planning an initial public offering in Q2 of this year that could earn the company a valuation of $11 billion (EUR 9 billion). Nordic Capital, which acquired Trustly in 2018, is said to be working with Goldman Sachs, JP Morgan, and Carnegie, with additional banks to be brought onboard as well. According to Reuters, the company is targeting “late April or early May” for an IPO. Both Trustly and Nordic Capital have not commented on the IPO rumor.

Headquartered in Stockholm and founded in 2008, Trustly specializes in enabling payments directly from customer online bank accounts. Trustly processes more than four million payments a month and reported revenues of EUR 130 million in 2019. The company estimates 2020 revenues of EUR 200 million. Trustly has more than 7,600 bank partners and 600 million consumers in Europe and North America who rely on its account-to-account network to bypass the card networks simply and securely.

In 2019, Trustly merged with PayWithMyBank, a U.S.-based company, to provide what Trustly CEO Oscar Berglund called “the first and only online banking payments network with transatlantic coverage.” Berglund added that the union of the two firms was “transformative” and said it would “accelerate” Trustly’s goal of reaching global coverage.

“Together we’re thrilled to be able to offer merchants and billers a unique alternative to card payments, allowing them to accept payments from 600 million consumers across Europe and the U.S.,” he said.

Earlier this month, Trustly announced the appointment of new Group Chief Financial Officer Mats Backman. Backman comes to Trustly after a tenure as CFO at publicly-traded automotive technology company Veoneer. Last fall, the Swedish payments innovator added a number of executives to its ranks, including Karim Ahmad as its new Global Chief Technology and Product Officer. Ahmad was formerly the Chief Product and Transformation Officer at Paysafe Group.


Here is our look at fintech innovation around the world.

Latin America and the Caribbean

Asia-Pacific

  • EyeVerify, which twice won Finovate Best of Show awards for its biometric authentication technology, may be on the market after being acquired by Ant Financial in 2016 for $100 million.
  • Malaysian-based supply chain finance and P2P financing platform CapBay raises $20 million in Series A.
  • Robowealth, a fintech based in Thailand, secures Series A funding from Beacon Venture Capital, Kasikornbank’s corporate VC arm.

Sub-Saharan Africa

  • Mobile banking startup Spot Money launches in South Africa, billing itself as the country’s first open banking platform.
  • Kenya-based Safaraicom goes live with its M-Pesa bill management service.
  • Synthesis launches Halo, the first of its kind tap-on-phone contactless payment solution for the African market.

Central and Eastern Europe

Middle East and Northern Africa

Central and Southern Asia


Photo by Jonathan Petersson from Pexels

Helping Secure Digital Identities; Managing Financial Crime Risk

Helping Secure Digital Identities; Managing Financial Crime Risk

Two of the biggest themes in fintech – digital identity and the rise of fintech in Central and Eastern Europe – meet in the latest announcement from biometric authentication specialist and Finovate Best of Show winner iProov. The company’s facial recognition technology now makes it easier for users of SK ID Solutions’ Smart-ID Service in countries like Estonia, Latvia, and Lithuania to renew their accounts without having to visit a physical bank branch.

“This is a major development for all digital identity providers,” iProov CEO Andrew Bud said. “Estonia has proved, for the first time, that a remote, automated, biometric ID verification service can deliver the highest possible levels of security.”

Recognized as equal to a handwritten signature throughout Europe, Smart-IDs enable users to authenticate themselves and provide permissions online using a smartphone app. iProov’s facial recognition technology adds a three-second scan to compare the image of the user to the image on their presented ID document to help defend against fraud and identity theft.

Smart-ID also leverages NFC-based ReadID document verification technology from InnoValor.

Financial crime risk management innovator Featurespace will be helping Enfuce combat fraud and money laundering courtesy of a newly announced partnership. Enfuce, a financial services firm based in Finland, will use Featurespace’s ARIC Risk Hub to enhance its ability to protect its customers from fraud and financial crime.

“Our clients deserve industry-leading services that allow them to freely and fully concentrate on the success of their core business, without worrying about ever-evolving fraud,” Enfuce co-founder and chair Monika Liikamaa said.

ARIC Risk Hub offers real-time transaction monitoring for fraud and financial crime, enabling institutions to identify and act against anomalous and potentially dangerous behavior as it occurs. The technology also reduces the number of false positives by as much as 70%, keeping anti-fraud processes efficient. Featurespace introduced its fraud-fighting technology to Finovate audiences at FinovateEurope 2016.


Here is a round up of recent news from our Finovate alumni.

  • Sezzle unveils new logo along with its first annual report.
  • Flybits expands its executive team in New York, Toronto, the U.K., and Dubai.
  • ID R&D updates voice biometric solution IDVoice.
  • M1 Finance surpasses $1 billion in assets on its platform.
  • Armor Bank selects Teslar Software’s automated workflow and portfolio management tools.
  • Mastercard partners with myPOS to boost adoption of card payment solutions among European SMEs.
  • Black Hills FCU selects nCino’s Bank Operating System.
  • Bazaarvoice launches partnership program with Yotpo as the piloting partner.
  • Keysafe inks partnership with Salt Edge to access tenants’ bank data without the need to acquire its own PSD2 license.
  • Lending Club appoints Annie Armstrong as Chief Risk Officer.
  • Assaray Trade and Investment Bank selects Temenos Infinity and Transact to power its digital transformation.
  • Long John Silver’s chooses Blackhawk Network for gift card program.
  • Trustly and Fly Norwegian team up to let travelers pay directly from their bank accounts.
  • Pindrop launches Deep Voice 3, the new version of its voice recognition technology.
  • Mastercard CEO Ajay Banga steps down, replaced by Chief Product Officer Michael Miebach.
  • Venmo to launch debit card for teens.
  • Almost 600 banks select Fiserv’s Turnkey Service for Zelle.
  • Finastra to offer ClickSWITCH’s account switching technolkogy to its clients.
  • Simmons Bank partners with Jack Henry to leverage its Banno platform to build a digital presence.
  • Currencycloud and Currensea team up.
  • Yseop and Automation Anywhere join forces to scale intelligent automation.
  • Lighter Capital appoints Kevin Fink at CTO and Patricia Elliott as CSO.
  • InComm launches Roblox gift cards in France and Germany.

Finovate Alum Features and Profiles

Revolut’s $500 Million Round Boosts Valuation to $5.5 Billion – Global financial platform Revolut has secured its place as the U.K.’s most valuable fintech.

Dealing with Deepfakes in Fintech – The fintech industry is ripe with security firms, such as iProov, that use AI to combat both video and audio deepfakes with anti-spoofing technologies.

Envestnet | Yodlee Acquires Indian Data Aggregator FinBit.io – Envestnet | Yodlee has acquired another asset in its strategy to further grow and develop its data aggregation and analytics business.

Meet Sonect: Cash Network Builder, Finovate Newcomer, Best of Show Winner – What’s better than having a large pizza with all your favorite toppings delivered to your front door? How about a side order of cash, saving you a trip to the ATM or bank branch?

Azimo Taps Ripple for Cross-Border Payments to the Philippines – Fueling these payment transfers is Ripple’s On-Demand Liquidity (ODL) solution that uses XRP to source liquidity and complete money transfers within three seconds.

Lendio Lands $55 Million to Match Small Businesses with Lenders – The investment more than doubles the company’s previous funding, bringing its total to $108.5 million.

SheerID Expands Identity Marketing Platform – The move enables brands to identify and acquire new customers across the globe.

Finovate Alumni News

On Finovate.com

  • How Revolut and Mastercard Are Helping Fintech Do Good
  • Keepabl Partners with ClauseMatch to Boost GDPR Compliance
  • More Than $1 Billion Raised by 21 Finovate Alums in Q3 2019

Around the web

  • Gartner names Exagens a 2019 “Cool Vendor.”
  • Trulioo appoints Zac Cohen as chief operating officer.
  • Trustly reaches 100 live gaming brands with its Pay N Play player registration and verification product.
  • Tradeshift moves Bucharest team to larger office in Tower Center, announces plans to hire more staff next year.
  • Globitex taps Salt Edge for strong customer authentication.
  • After Belfast launch earlier this year, Signifyd recruits 63 people with plans to recruit 150 more over the next three to five years.
  • Revolut and Mastercard team up with Save The Children to support Universal Children’s Day.
  • The San Diego Union-Tribune names Jack Henry & Associates a top place to work in San Diego for the fourth year in a row.
  • CredoLab, Neener Analytics, and Vymo win finalist spots in the India FinTech Forum’s IFTA 2019 awards.
  • Chetu ranked as the number two of 50 top software development firms in the U.S.
  • Payments company VoPay teams up with Plaid to offer a new credit card alternative to consumers in North America.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • Investment Firm Takes Minority Stake in OurCrowd.
  • Bill.com’s New Release Targets Midmarket Companies.
  • DriveWealth Teams with Nigerian Trading Platform.
  • Lidya Launches SME Lending Platforms for Poland and Czech Republic.

Around the web

  • CU Broadcast features Larky CEO and Co-founder Gregg Hammerman.
  • eToro partners with The TIE to develop unique sentiment-driven investment strategies for traders.
  • Trustly launches Trustly Live to bring instant cashless payments to land-based casinos and sportsbooks.
  • Home Bank renews relationship with Baker Hill, adding Baker Hill NextGen CECL and Baker Hill NextGen Business Loan Origination.
  • Salt Edge to power PSD2 API for Habib Bank AG Zurich.
  • Chetu earns #3 for dollar growth and #15 for percentage growth at the SFBJ technology awards 2019.
  • Insuritas to power bank-owned insurance agency for Signature Bank of Georgia Partners.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

Around the web

  • Temenos teams up with Scotland-based neobank Alba.
  • Avaloq launches new Cost & Fee Analytics solution.
  • CashDirector earns a spot in Plug and Play’s Fintech Europe innovation platform.
  • Trustly partners with ECOMMPAY to fuel online banking payments across Europe.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.