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Citi’s Treasury and Trade Solutions will integrate transaction monitoring technology from Feedzai. The integration comes courtesy of a newly-announced strategic partnership, and reflects a relationship that extends back to 2016, when Citi Ventures made a strategic investment in the AI-based real-time risk management solution provider. “Citi is one of the most successful banks in the world for a Read more…
Here’s alumni funding news that slipped beneath our radar: Canadian cybersecurity firm ISARA picked up a $10 million investment last month. The company, which specializes in developing quantum-safe cryptographic solutions that can be integrated into commercial products to defend against quantum computer-based cyberthreats, demonstrated its technology at our developers conference, FinDEVr London 2017. “The global economy Read more…
“Profitable and cash flow positive” are among the prevailing themes from Expensify’s year end report for 2018. And as far as company founder and CEO David Barrett is concerned, this is news worth noting. “(It) may sound silly to some – but it’s extremely rare in an industry in which companies burn through piles of Read more…
Ethoca has partnered with French payment system Cartes Bancaires to develop the CB Alerts portal that helps online merchants collaborate with card-issuing banks to lower chargebacks and reduce fraud. The solution, which works in near-real-time, gives merchants an early warning of cardholder-confirmed fraudulent transactions, enabling merchants to block an illegitimate sale, and/or prevent the shipment Read more…
A jigsaw is being filled as Brazil-based challenger Nubank has unveiled debit and withdrawal options for its digital savings account, NuConta, reports Antony Peyton of FinTech Futures (Finovate’s sister publication). According to the bank, these functions were most requested by its customers. This news may not be a big deal to some, but it’s another Read more…
Digital banking platform provider Zafin and global professional services company Accenture have forged a new relationship that is both a strategic alliance and an acquisition. The companies have announced a “joint go-to-market strategy” that will make Accenture the preferred integrator of Zafin’s financial platform. And by bringing on “select employees” from Zafin’s professional services business, Accenture also Read more…
Following on from the recent licenses in Singapore and Japan, challenger Revolut has secured its European banking license, reports Antony Peyton of Fintech Futures (Finovate’s sister publication). The “specialized” bank license was facilitated by the Bank of Lithuania. This type of license was introduced by the Bank of Lithuania in 2017. It has a minimum capital Read more…
In a $245 million deal, banking software company Temenos will acquire fellow Finovate alum Avoka. The transaction, which is subject to regulatory approvals, is expected to close in the first quarter of next year. A public company, Temenos will finance the purchase with cash and debt. The deal marks the company’s 14th acquisition since it was Read more…
A new partnership between real-time electronic payment and banking solutions provider, ACI Worldwide, and behavioral biometrics specialist, BioCatch, will deliver better online and mobile fraud prevention to banking customers. Along with the advanced analytic capabilities of ACI Worldwide’s UP Payments Risk Management, BioCatch’s behavior assessment technology will help institutions better defend themselves and their customers from Read more…
Carrier billing company Boku is set to expand its expertise with a new acquisition this week. The San Francisco-based company agreed to acquire mobile identification and authentication company Danal for up to $68 million. The acquisition is expected to close December 31, 2018. The deal is being structured as a reverse triangular merger to ensure Read more…
It’s the second acquisition this year for TIBCO. The integration and analytics software company announced this week that it purchased Orchestra Networks for an undisclosed amount. “This is a very important acquisition for us, supporting our mission to create the world’s leading platform for digital business. Orchestra Networks will allow TIBCO to address our customers’ Read more…
Phone-based fraud prevention company Pindrop closed a Series D funding round today valued at $90 million, bringing the Atlanta-based company’s total funding to almost $213 million. Pindrop is not disclosing its valuation, but did say that it is “much higher” than the $600 million it was valued at after its $75 million funding round in Read more…