Reports of a major breakthrough in Chinese AI technology sent stocks reeling in the U.S. to begin the week. Here at Finovate’s Fintech Rundown, we’ve got one eye on the latest from DeepSeek and another eye on the latest developments in fintech.
As Monday begins, we share news of a partnership in the open banking space, an expansion into the APAC, and both new funding and new tools for business banking.
Open banking
Tink and Adyen team up with prepaid platform Recharge to offer its German customers Pay by Bank services.
Payments
Visa and South Korean fintech DealMe team up to offer cross-border card installment payments.
Canadian paytech Nuvei expands into the APAC region on the completion of its acquisition of Paywiser Japan and granting of its acquiring license from Japan’s Ministry of Economy, Trade, and Industry.
Skipify partners with Retail Realm to launch identity-powered payments for Microsoft Dynamics 365 merchants.
Viffy leverages Finfare’s Finfare Connect payment linking technology.
Digital banking
Cloud-based digital banking solutions provider for financial institutions, Alkami Technology launches its Business Banking Digital Maturity Assessment tool.
Shanghai Commercial Bank partners with Hong Kong-based digital banking solutions provider Planto.
Alliant credit union selects Backbase to accelerate banking innovation.
Crypto / DeFi
Stablecoin payment infrastructure provider BVNK forges a strategic partnership with First Digital, the organization behind First Digital USD (FDUSD).
European cryptocurrency platform Bitpanda receives MiCAR license from BaFin.
Web3 and crypto technology fund Binance Labs rebrands as YZi Labs as part of an expansion into AI and biotech.
Small business banking
Wyzr, a SaaS-based financial management platform for small and micro businesses raises nearly $500,000 (£400,000) in new capital.
Regtech
Marketing compliance specialist for fintechs, Adclear announces raising $636,000 (£510,000) in pre-seed funding to automate FCA compliance.
c/side launches PCI compliance dashboard for new PCI DSS 4.0.1 requirements.
Wealth management
Brokerage-as-a-Service innovator DriveWealth partners with Moment Technology to expand its fixed-income asset class offering.
Risk, security and privacy
authID launches PrivacyKey, bringing privacy and compliance to its biometric identity authentication platform.
REPAY and Worth partner for KYB and underwriting tools to speed merchant onboarding and vendor enrollment.
Lending and credit
Vergent LMS launches the Vergent EMPOWER program for community banks and credit unions.
Delfi partners with three U.S. banks.