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Payment, banking, and investment systems provider FIS has teamed up with online lending marketplace Lendio. The core banking giant is leveraging Lendio’s technology to launch its new SMB Digital Lending solution. FIS’ new SMB Digital Lending solution seeks to offer small and medium-sized businesses (SMBs) easier access to capital by streamlining and automating the lending process for financial institutions. Read more…
French bank BNP Paribas announced this week it has teamed up with Ant Group subsidiary Ant International. The two agreed to work together on four projects to help BNP Paribas foster its digital payment initiatives. For the first collaboration, BNP Paribas will work with Ant International’s Alipay+, a cross-border mobile payment solution. The partnership will Read more…
Technology, data, and wealth solutions company Envestnet has agreed to be acquired by Bain Capital. The transaction values Envestnet at $4.5 billion or $63.15 per share. Also participating in the deal is Reverence Capital, along with a number of strategic partners that have agreed to invest in the transaction. These partners include BlackRock, Fidelity Investments, Read more…
We’re starting off the newsweek with a bang as Bain Capital announces that it will take wealthtech and Finovate alum Envestnet private in a deal valued at $4.5 billion. Be sure to check back all week long with the latest fintech news and headlines. Crypto / DeFi / Web3 Payment orchestration platform FinMont partners with Read more…
Automated reconciliation software provider AutoRek has teamed up with JP Morgan Payments to enhance premium processing for insurance companies. The partnership will help insurance firms better manage financial data flows from banking sources, as well as improve their ability to manage cash allocation, matching, and credit control. “Working with a specialist company like AutoRek will Read more…
Thailand-based Ascend Money announced this week it has received $195 million in funding from Mitsubishi UFJ Financial Group (MUFG) Bank. The bank led the round, and Finnoventure Private Equity Trust I fund managed by Krungsri Finnovate Co. also contributed. “This is a significant milestone for Ascend Money, which not only validates our commitment to innovation Read more…
U.K.-based core banking platform Tuum has teamed up with debt management specialist Flexys. The partnership will help banks streamline and enhance their debt collection processes at a time when legacy core systems are limiting financial institutions’ ability to better serve their customers. These “old cores” also make it more difficult for FIs to keep up Read more…
Financial services solutions provider Earnix has announced a collaboration with digital business and IT services company NTT DATA. The partnership will enable Earnix to give property and casualty insurance carriers intelligent solutions for pricing, rating, underwriting, and policy personalization. The integration, combined with NTT DATA’s pedigree in data migration, will accelerate insurers’ time to market Read more…
In collaboration with Avaloq and Synpulse8, Liechtenstein-based private bank LGT has implemented a new standard that will make it easier to provide financial intermediaries with real-time access to LGT’s investment positions and transaction data. The new standard is called OpenWealth API and will help the custodian bank better serve its customer base of independent asset Read more…
March 28, 2023 to June 17, 2024. That is the lifespan of Apple Pay Later, Apple’s buy now, pay later (BNPL) tool. Apple launched the tool last year to allow Apple cardholders to pay for their purchases under $1,000 in four separate installments over the course of six weeks. The service was free, and did Read more…
Reconciliation and reporting services provider Kani Payments has inked a partnership with CLOWD9. The cloud-native issuer processor selected Kani Payments to power its data reporting and reconciliation capabilities and help the company manage the unique data standardization requirements faced by banks and fintechs alike. CLOWD9 will use Kani Payments’ SaaS platform to collect and standardize Read more…
Core banking platform Thought Machine announced today it has extended its relationship with Mastercard this week. In this latest venture, the two companies are advancing their partnership to offer core banking and payment solutions to financial institutions. Mastercard is integrating its network and digital solutions with Thought Machine’s cloud-native core banking platform to help banks Read more…