The fallout from JP Morgan’s plan to charge companies for access to client bank account data continues as—according to a report from Bloomberg—Visa has announced that it is shuttering its open banking unit.
We’ve got a lot to say about the fight for open banking next month at FinovateFall. For now, be sure to check in to Finovate’s Fintech Rundown for all the latest fintech news!
Payments
Dispute management and chargeback solution provider Casap raised $25 million in Series A funding. See the company demo next month at FinovateFall in New York!
Zil Money introduces a pair of AI-powered features for its virtual cards: receipt parsing and automated spending analysis reports.
Digital content monetization platform Coda completes its acquisition of prepaid payments platform Recharge.
Localized payment solutions provider Boku partners with visual communications platform Canva.
PayNearMe establishes Texas footprint with Dallas business district office.
Sightline Payments creates Sightline Debit, a solution for the gaming industry, in partnership with Cross River Bank.
Digital banking
HSBC launches HSBC Innovation Banking in Australia.
Cognizant inks five-year strategic engagement deal with banking technology company Tenemos.
Thread Bank selects Finxact from Fiserv to power embedded banking strategies.
Crypto and DeFi
Crypto wallet MetaMask launches its own native stablecoin, to be issued by Stripe’s Bridge.
Bitget unveils its RWA (Real-World Asset) Index Perpetual Contract, enabling investors to buy and sell tokenized traditional assets.
VersaBank launches tokenized deposit pilot program in the US.
Finastra and Circle forge strategic collaboration to bring stablecoin settlement to cross-border payments.
Tazapay lands strategic investments from Ripple and Circle.
Financial wellness
Financial wellbeing platform CredAbility launches its credit score builder.
Fraud prevention and digital identity
Digital identity specialist Prove teams up with FNBO (First National Bank of Omaha).
Australia-based digital lender MoneyMe partners with fraud prevention and AML compliance specialist SEON.
IDenfy teams up with ethical residential proxies and web-data collection tool provider Ping Proxies.
Lending and credit
AI-powered credit intelligence company martini.ai launches its Financial Autonomy Ladder, a framework for measuring an institutions evolution from manual to autonomous decision-making systems.
MeridianLink expands its partnership with Jack Henry, which will resell the suite of Meridian Link One platform solutions, including MeridianLink Mortgage and MeridianLink Consumer.
First Northern Credit Union selects Appli to modernize member lending experience.
Small business solutions
Expensify announces upgrades to its Expensify Travel offering including central billing, event management, and employee itineraries.
Photo by Cristina Gottardi on Unsplash