With neobank Monzo’s big investment and multi-billion dollar valuation on one side and the continued woes of BaaS provider Synapse on the other, “interesting times” continue to characterize the fintech landscape as we slide into the summer months.
Be sure to check our Fintech Rundown all week long for the latest updates and fintech headlines.
Insurtech
Indian insurtech CoverSure raises $4 million in pre-Series A funding in a round led by Enam Holdings.
Payments
First National Bank of Omaha (FNBO) turns to Derivative Path for advanced FX payments.
Quest Payment Systems to provide payment technology to Australian public sector POS payment company NSW Government.
Turkey’s United Payment secures e-money license from the Central Bank of Azerbaijan.
Chinese digital payments solutions provider Lianlian DigiTech receives e-money license in Luxembourg.
Deel extends strategic investment to Alviere to enhance U.S. worker payments.
Five million businesses now transacting on Versapay’s B2B payment network.
DailyPay appoints Stacy Greiner as interim Chief Executive Officer.
Pidgin partners with Corelation to enable real-time payments for credit unions nationwide.
Curve plans to launch digital payment solution on iOS to compete with Apple Pay.
Fraud prevention and compliance
Fraud and financial crime prevention platform DataVisor announces partnership with financial services compliance consultancy firm Davies.
Blockchain-based SaaS platform Henoscene partners with Lithuanian regtech iDenfy to enhance its KYC operations.
Solutions by Text secures $110 million growth round led by Edison Partners and StepStone Group.
Ocorian appoints Chief Financial Officer.
Sift announces RiskWatch to simplify fraud decisioning and catalyze growth.
AMLYZE announces strategic partnership with Aura Cloud to enhance financial crime prevention.
Embedded finance
Embedded finance solutions provider Finotta announces strategic partnership with digital banking services provider Constellation Digital Partners.
Treasury Prime partners with onboarding identity provider Footprint.
Digital banking
Crédit Agricole Next Bank taps InvestGlass to enhance its lead management and CRM.
Sikoia joins the NayaOne marketplace.
Data
Transcend raises $40 million in Series B funding to fix privacy for the enterprise.
Small business finance
Rewards network Ascenda to provide Ramp customers more ways to redeem points earned on U.S. spend.
Inter&Co to acquire the remaining 50 percent of Granito, a Brazil-based merchant acquirer.
Kintsugi lands $6 million in Series A funding to simplify tax compliance with AI-powered automation.
Crypto
Ledger starts shipping its high-end hardware crypto wallet.
Wealth management
DriveWealth introduces new Chief Product Officer Kyla Murphy.
Alternative asset platform Alto launches Alto Marketplace, offering curated private alternative investment opportunities for eligible investors.
PureFacts Financial Solutions selects BridgeFT’s WealthTech API to enhance data infrastructure for end-to-end revenue platform.
Identity management
AU10TIX launches free Risk Assessment Model to help companies conduct initial assessment of identity fraud risk.