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.
Stocks might be soaring over the summer. But the headlines of late have been filled with dour reflections over fintech investment in the first half of 2023. The first half of the year – and the second quarter in particular – have been tough on fintechs seeking funding. But here are five reasons why fintech Read more…
Banking credit information provider CRIF and regtech Know Your Customer have partnered to help Ping An OneConnect Bank (Hong Kong) Limited (“PAOB”) improve the digital onboarding process for its SME customers. CRIF and Know Your Customer have developed a new system that uses real-time registry connections to automatically retrieve documents and map shareholders. The solution Read more…
Accounts payable platform Nook announced a new partnership with Currencycloud. Nook will leverage Currencycloud’s APIs to enable its customers to manage the full-life cycle of supplier payments. This will help Nook better serve companies who must make multiple transactions and manage other inefficiencies when working with international suppliers. “The seamless integration with Currencycloud has strengthened Read more…
Do any of these headlines sound familiar? “Global fintech funding nearly halves to $23B in H1 2023” “North American Startup Funding Fell Across All Stages in Q2” “Most Active Investors Pare Dealmaking in First Half of 2023” These are some of the recent headlines from sources such as Crunchbase News and S&P Global Market Intelligence. Read more…
Student loan refinancing site Earnest has teamed up with Nova Credit to launch International Private Student Loans. The new tool enables select international students to access flexible loan options, competitive interest rates, and personalized repayment terms tailored to their needs. Offered by Earnest, International Private Student Loans will leverage Nova Credit’s Credit Passport solution that Read more…
Global payments platform Flywire is teaming up with Tencent’s fintech arm, Tencent Financial Technology to help Chinese students pay for education abroad. This week, the two announced they plan to allow Chinese students and families making education payments abroad to pay using Tencent-owned Weixin Pay (WeChat Pay). Flywire anticipates the move will further streamline education-related Read more…
Payment platform for vehicles, Car IQ, has partnered with Visa. The San Francisco-based company is working with the payments and credit card giant to power its in-vehicle merchant payments solution, Car IQ Pay Vehicle Wallet. The partnership will enable vehicles to transact directly with Visa’s global merchant and bank network. The Car IQ Pay Vehicle Read more…
U.K.-based open data company Moneyhub announced a number of partnerships in recent days and weeks. At the beginning of the month, the fintech forged a strategic partnership with Utah-based open finance innovator MX. Via the partnership, Moneyhub will be able to refer customers to MX for support in North America, while MX will be able Read more…
Four years after acquiring payments company Worldpay, fintech titan FIS has announced plans to sell a majority stake in the firm. Private equity company GTCR is the purchaser, and will gain 55% of Worldpay, which is currently valued at $18.5 billion. Note that when FIS acquired the company in 2019, Worldpay was valued at $43 Read more…
The road to recovery for crypto may be long. And making meaningful headway may require more than a few instances of taking one step back in order to take two steps forward. Case in point is the latest hurdle faced by BlackRock as the company seeks to launch a spot bitcoin ETF. On Monday, we Read more…
Global financial services innovator Revolut has launched a roboadvisor in the U.S. The new automated investing tool manages users’ investment portfolios, and is therefore able to charge lower fees than traditional wealth management firms. Revolut users can invest in one of five diversified portfolios based on their risk tolerance. After the client deposits funds into their Read more…
Digital identity verification company Socure has acquired automated identity verification solution Berbix for $70 million. The deal marks the first-ever acquisition for Nevada-based Socure. Founded in 2018, Berbix launched a document verification solution with a forensics engine that detects spoofed IDs – including AI-generated fake IDs. Socure will leverage this technology to accelerate its international Read more…