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MoneyGram is rolling out a service that will enable users to buy cryptocurrency using cash, as well as allow them to withdraw their crypto holdings in cash, at select MoneyGram locations. The new capabilities are made possible via a partnership with Stellar Development Foundation. The service is currently available in the U.S., Canada, Kenya, and the Philippines. Read more…
Klar, arguably the largest digital bank in Mexico, secured $70 million in equity funding this week. The investment – led by existing investor General Atlantic and featuring participation from Prosus Ventures, Quona Capital, Mouro, IFC, Acrew, and Endeavor Catalyst – gives the company a valuation of $500 million. Klar has raised more than $150 million Read more…
Backbase raised $128 million (€120 million) in growth equity funding this week. The round was led by private equity firm Motive Partners, and gave the company a valuation of $2.6 billion (€2.5 billion). Backbase’s Engagement Banking Platform enables banks and credit unions to leverage a cloud-based platform to offer bank customers seamless digital experiences. Engagement Read more…
How does technology help financial advisors do their jobs better? What does it mean to be “customer-focused” when it comes to financial health? And how does an organization successfully pursue a commitment to financial inclusion as a company, while simultaneously supporting and reinforcing a commitment to diversity, equality, and inclusion within a company? We talked Read more…
Western Union has tapped Marqeta to enable clients in Europe to send remittances to a physical or virtual Visa card. Marqeta’s open API will allow Western Union to replicate its payments card program to other geographies. Thanks to Marqeta’s expertise, Western Union can now gradually add new features to its digital money transfer app. Card Read more…
Companies around the world are facing increased pressure to ensure they’re monitoring and screening new and existing customers against applicable sanctions lists. While having a comprehensive screening program is nothing new for regulated companies, the current regulatory climate has demonstrated that companies need to be prepared to balance the need for increased speed and thorough compliance.
Often ignored as a boring fintech subsector, insurtech is in the midst of reinventing itself to fit into today’s digital-first era. Straits Research expects the global insurtech market to reach a valuation of more than $114 billion by 2030, growing at a CAGR of 46.10% from now until that time. We’ve rounded up a handful Read more…
Ant Group unveiled a digital bank called ANEXT Bank focused on serving SMEs. ANEXT Bank is soft launching today and will be widely available in the third quarter of this year. ANEXT Bank is collaborating with Proxtera, a Singapore company that broadens access to global trade. China tech giant Ant Group announced the launch of Read more…
European investment and savings platform Trade Republic has topped up its 2021 Series C round with an investment of €250 million led by the Ontario Teacher’s Pension Plan. The funding gives Trade Republic a valuation of more than $5 billion (€5 billion), and will enable the company to “double down” on its product. “We are Read more…
Bruised but not broken, the cryptocurrency market has taken more than a few blows as the prices of leading digital assets – from Bitcoin to Ethereum – have declined significantly in recent months. This may have taken some of the steam out of many cryptocurrency ventures. But there is no sign that interest in cryptocurrencies Read more…
Sweden-based account-to-account payments specialist Trustly will acquire U.K.-based open banking payments platform Ecospend. Trustly anticipates the deal will help accelerate its move into the U.K. market. Financial terms of the deal were undisclosed. Global payments fintech Trustly announced plans to acquire U.K.-based open banking payments platform Ecospend this week. Trustly anticipates that the deal, which Read more…
Amid ongoing disruption, sudden market changes, and unforeseen circumstances, the ability to leverage live data and gain a 360-degree view of the enterprise is vital for financial services firms to gain much-needed resilience and agility.