This week in Finovate’s Fintech Rundown, we highlight big fundraisings in wealthtech and mortgagetech, as well as an acquisition in the world of money movement. Check back all week long as the Fintech Rundown keeps you informed on the latest news in fintech!
Wealth management
Global wealthtech solutions provider Masttro announces upgrades to its platform, including real-time wealth visualization and AI-powered efficiency.
Mitsubishi UFJ Financial Group (MUFG) agrees to acquire Japanese robo-advisory firm WealthNavi for $664 million.
Cryptocurrencies
Taiwan expedites implementation of its new Anti-Money Laundering (AML) regulations for cryptocurrency companies.
Coinbase elects to withdraw its pre-application to enter the Turkish market, citing regulatory concerns.
Digital banking
Lumin Digital secures $160 million in growth funding.
Mortgagetech
U.K.-based digital savings and mortgage platform Tembo raises $17.8 million (€16.8 million) in Series B funding to support first-time homebuyers.
Payments
Digital payroll company Deel acquires U.K.-based money transfer firm Atlantic Money.
Razorpay teams up with the Ministry of Home Affairs (MHA) and the Indian Cyber Crime Coordination Centre (I4C) to boost cybersecurity for digital payments in India.
Mollie and PayPal join forces to enhance marketplace payments in Europe.
Greenlight launches child safety alerts and location sharing tools to its Infinity family plan.
GNC brings Early Warning Services’ Paze to its online checkout.
East of England Co-op extends its relationship with NCR Atleos to provide ATMs through the Cashzone Network across its stores.
Red River Bank selects Allied Payment Network to expand digital payments offerings.
Insurtech
Embedded solutions provider YAS teams up with QBE Hong Kong to offer Pay-As-You-Sell product liability insurance for ecommerce merchants.
Aviva strikes five-year partnership with NatWest to distribute its insurance solutions through NatWest U.K.’s retail banking brands.
Luma Financial Technologies partners with Advantage Insurance Network to enhance annuity and life insurance access.
Fraud and security
Finovate Best of Show winner Themis launches KYC/AML company, Tathabbat, in Saudi Arabia. Check out our recent Finovate podcast interview with Themis Founder and CEO Neepa Patel.
Revolut selects Metomic to enhance SaaS data security across its SaaS environment.
Middesk launches Address Risk Insights to help reduce risk and boost KYB compliance.
Business financial management
KPay raises $55 million in Series A funds.
Data analytics and management
ACERA taps Clearwater Analytics to transform data validation and simplify total plan reporting.
SOLO lands funding from BankTech Ventures to transform credit underwriting for banks.
Lending, credit, and underwriting
Shastic partners with MeridianLink to provide AI workflow automation for banks and credit unions.