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Opentech has leveraged Mastercard Send APIs to offer a new solution, OpenPay Send, that will give financial institutions across Europe powerful money transfer capabilities. “Opentech’s mission is to be the enabler of digital payments for banks, leveraging state-of-the-art infrastructures to build highly reliable and flexible solutions, ready to be deployed to the end user,” Opentech Read more…
B2B cross border payments innovator Currencycloud has locked in $80 million in new funding. Visa, the International Finance Corporation, BNP Paribas, SBI Group, and Siam Commercial Bank participated in the Series E. Existing investors Sapphire Ventures, Notion Capital, GV, Accomplice, and Anthemis were also involved in the round. “Currencycloud is re-imagining how money flows around Read more…
Break out the PSD2 birthday cake! On January 13 the Second Payment Services Directive (PSD2)– what we now generally think of as open banking– turned two years old. PSD2 still has a long way to go but has made some impressive progress in the fintech sector. So after two years in, is PSD2 a success? Read more…
Mobile money operator Paga is poised for growth. The Nigeria-based fintech acquired U.S. software company Apposit and announced plans to expand its services geographically. Apposit was founded in 2007 and builds software to power African tech businesses. The region is, as the company states on its website, a place where “formidable challenges and exceptional opportunities Read more…
Vive la France, indeed! One week after French payment app Lydia announced a $45 million fundraising, neobank Qonto reports that it has just closed the largest funding round to date for a French fintech. French challenger bank Qonto has raised $115 million (€104 million) in Series C funding. The round was led by Tencent and Read more…
It is hard to imagine having a better start to your week than Plaid had seven days ago when the innovative fintech (and Finovate alum) announced that it had agreed to be acquired by Visa for $5.3 billion. But the €90 million ($100 million) raised by Swedish open banking platform Tink on Monday is nothing Read more…
The company that is bringing credit data clarity to the cryptocurrency industry is entering 2020 with a new name. Credmark, which made its Finovate debut as Graychain at FinovateAsia earlier this year, is reintroducing itself with a new Southeast Asia headquarters and partners who are helping develop the cryptocurrency lending market. “We’ve been wanting to Read more…
Risk management and advisory services firm INTL FCStone announced today that its London-based subsidiary has agreed to acquire GIROXX for an undisclosed amount. Headquartered in Germany, GIROXX offers international bank transfers and currency hedging. INTL FCStone plans to leverage this technology to expand its current client base to small-and-medium-sized enterprises (SMEs). As part of the Read more…
Starting in Q2 of this year, Mastercard customers will be able to get a new, “augmented” understanding of the benefits and rewards available to them as cardholders. The augmented reality app, announced by Mastercard late last week, will offer cardholders a virtual tour of three different portals representing Mastercard’s three reward categories: Experiences, Everyday Value, Read more…
Thailand’s biggest bank by assets, Siam Commercial Bank (SCB), announced it has partnered with blockchain solutions company Ripple. SCB will leverage Ripple’s RippleNet to power the cross-border payment offering in its mobile app, SCB Easy for the app’s 9+ million users. RippleNet is Ripple’s global payment network that works across 40+ currencies and consists of Read more…
It’s a new year and a new decade, but Fiserv – which topped fintech headlines in 2019 with its massive, $22 billion merger acquisition of First Data – has hit the ground running in 2020. The Brookfield, Wisconsin-based payments giant announced this week that it is teaming up with Verve and Superior Choice, two Wisconsin-area Read more…
Ronit Ghose, Global Head, Banks Research & Co-Head, FinTech Theme Group, Citi explores the future of challenger banks.