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Credit reporting agency TransUnion unveiled a new division this week that will unite the company’s fraud and risk offerings. The new unit, Global Fraud & Identity Solutions Group, will tie together TransUnion’s identity verification and authentication tools that help businesses do everything from fight originations fraud to target consumers in their risk profile. The Global Read more…
Small business expense management platform Bento for Business has a new man at the top. The company announced today that Guido Schulz will join the company as its new CEO. Schulz will team up with co-founder Farhan Ahmad who will remain as chairman of the company’s board of directors. “Bento for Business has built an Read more…
Score another bullseye for Robinhood. The millennial-focused social trading and investing app, which drew criticism during the market meltdown in March for repeated outages, is now sitting with $280 million in additional funding. The new capital comes courtesy of a just-completed Series F round led by Sequoia Capital, and gives the company a valuation of Read more…
A collaboration between fraud prevention and detection company Breach Clarity and digital consulting firm Xtensifi will bring additional machine learning technology to bear in the battle against cybercrime in financial services. The new integration will enable the company’s Breach Clarity Premium for Financial Services platform to empower banks, credit unions, brokerage firms and insurance companies Read more…
The 2019-2020 school year has been one of the many casualties in the fight against the coronavirus. While there have been some areas where student life has been relatively unchanged, for thousands of students around the world – from the youngest grades through collegiate ranks – learning has been disrupted significantly. Financial education has suffered Read more…
China-based internet giant Tencent laid out $300 million to acquire a 5% stake in buy-now-pay-later firm Afterpay. The move is part of a strategic partnership that will offer Afterpay easy access and collaboration opportunities with Tencent, a Hong Kong-based fintech giant with a $500 billion market capitalization. In comparison, Afterpay’s market capitalization on the Australian Read more…
Spain-based multinational bank Banco Santander announced today it has acquired a 50.1% stake in Ebury, an international payments, FX, and cash management firm. Santander invested $435 million (£350 million) in the deal, which was first announced in November of last year. The bank plans to use Ebury to provide small-to-medium-sized businesses (SMBs) with global finance Read more…
Fintech giant FIS unveiled a new venture arm today. The Florida-based company is targeting a goal to invest $150 million in fintechs over the course of the next three years. The investment arm will focus on early-to-growth stage startups across the fintech sector and will centralize around emerging technologies such as AI and machine learning, Read more…
The prospects for insurtech this year were bright. In February, financial services-based VC firm Anthemis announced that it was launching a new, $90 million fund focused on “fast-growing insurance technology startups.” The fund, which Anthemis anticipated would be fully-funded later this year, will target later-stage insurtechs with a proven track record in helping insurance companies Read more…
One of the least recognized victims of the public health crisis of COVID-19 is the global supply chain. The economic damage from efforts to stem the spread of the coronavirus – from lockdowns to worker shortages to closed borders – has brought new levels of uncertainty to the international economy. This makes news that supply Read more…
Shortly after adding ETH, XRP, and three stablecoins to its platform, blockchain payment services provider BitPay announced today it has added one more to the mix. BitPay is collaborating with digital asset exchange platform Binance to add the Malta-based company’s stablecoin, BUSD, to its platform. The new addition will enable BitPay’s 2 million users to Read more…
The combination of cloud banking platform Mambu and international money transfer firm TransferWise will enable Mambu customers to offer fast, inexpensive, and transparent international money transfers at the real exchange rate. Mambu will leverage TransferWise’s TransferWise for Banks solution via API, giving its clients an out-of-the-box solution that allows them to focus on building a Read more…