Finovate is part of the Informa Connect Division of Informa PLC
This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.
Financial product management platform FintechOS recently announced it received a $60 million Series B+ investment, boosting its total funding to more than $151 million. Molten Ventures, Cipio Partners, and BlackRock led the round, while existing investors EarlyBird VC, OTB VC, and Gapminder VC also contributed. FintechOS serves up technology that helps organizations launch and manage Read more…
Will the new month bring new challenges in fintech? Or will the news cycle take a much-needed vacation as summer approaches? Stay tuned to this week’s news for updates and evolutions throughout the week. Digital banking Cloud-native core banking operating system 10x Banking enters collaboration with Deloitte Australia. Monzo reports first profitable year. Genesis offers Read more…
Embedded finance and digital banking solutions provider Finotta forged a strategic partnership with Constellation Digital Partners (Constellation). A cloud-native digital banking services provider, Constellation will integrate Finotta’s Personified platform into its own solution to give credit unions new resources to boost member engagement and satisfaction, as well as drive digital growth. “More than 90% of Read more…
Irish digital banking and payment solutions provider CR2 has agreed to be acquired by Morocco’s Hightech Payment Systems (HPS). The move will bolster HPS’s digital banking and payment capabilities and consolidate the company’s status as a leader in the African market, especially in its Francophone regions. The acquisition also will help HPS expand in English-speaking Read more…
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. Read more…
A new partnership between digital identity verification innovator Socure and identity-secured transactions company Proof will bring new tools to the fight against fraud and forgery in authorizations, contracts, and forms. “With the explosion of new fraud vectors, our mission at Socure remains steadfast: use AI to deliver the most accurate anti-fraud and identity verification solutions Read more…
Global payments network and shopping platform Klarna announced today that 87% of its staff use Generative AI to complete their daily work activities. The employees are using Kiki, Klarna’s internal AI assistant. Klarna launched Kiki in June of 2023, leveraging OpenAI’s Large Language Models (LLMs). Since it was released, Kiki has responded to more than Read more…
Last week brought a small uptick in fintech funding and drama ensued when Tabapay renounced its agreement to purchase Synapse’s assets. Stay tuned to this week’s news for updates as this situation– and others– evolve throughout the week. Payments Payments enablement and software company Flywire announces expanded availability of its third-party invoicing solution. Bank payments Read more…
FIS is the latest company to introduce a platform to make it easier for businesses and software developers to embed financial services and fintech solutions into their products and services. Atelio by FIS, launched this week, is one of the first banking-as-a-service offerings from a major core provider. The technology will serve B2C fintechs and Read more…
Business expense management company Expensify announced the upcoming addition of a new set of capabilities today, which will make it a more robust platform to help businesses plan and manage their expenses. The company is launching Expensify Travel. Expensify Travel will allow the company’s business users to access global travel inventory, lower fares, and servicing. Read more…
In a deal led by Goldman Sachs Asset Management, U.K.-based fintech SumUp has secured $1.6 billion (€1.5 billion) in a private credit debt transaction. The financing will enable SumUp to refinance current debt as well as take advantage of growth opportunities around the world. The deal gives SumUp a set of new investors: AllianceBernstein, Apollo Read more…
Financial services company PNC and TCW, a leading global asset manager have teamed up this week to deliver a private credit solution to middle market companies. The two will leverage TCW’s loan origination, underwriting, and portfolio management expertise and will tap PNC’s extensive client relationships. “We are very excited to announce this new business strategy, Read more…