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Thursday 13 December 15:00 GMT Financial institutions are racing towards the digital future, working to transform their operations in response to increasing competition, expanding markets, and diversifying customer segments. Watch the latest Finovate webinar to hear from an expert panel on unchaining yourself from legacy systems. Whether aiming for more share of wallet or targeting the Read more…
Moven Enterprise announced this week that it has partnered with mobile wallet company Yandex.Money to power smart banking technology for the Russia-based company. Yandex.Money will leverage Moven Enterprise’s open APIs to embed new features and functionality into its mobile app, pushing new product offers that extend beyond the company’s flagship mobile wallet. The partnership will give Yandex.Money’s Read more…
Wealthtech companies Envestnet and BlackRock have entered into a strategic partnership agreement in which Envestnet will integrate BlackRock’s Digital Wealth technologies into its platform. On the financial side of the deal, BlackRock will take a 4.9% equity stake in Envestnet in a stock transaction totaling $123 million. “Envestnet is uniquely positioned to create the premier Read more…
While everyone is busy completing their online orders on Cyber Monday, supply chain innovation company Tradeshift is attempting a purchase of its own. The California-based company is reportedly in talks to purchase Finnish software maker Basware. Tradeshift made the unsolicited takeover bid last month in a deal backed by China-based Ping An Insurance Group. The Read more…
The digital lending and finance sector has grown dramatically in the last few years but traditional banks still dominate lending and the financial services space, while digital-first challengers and fintechs are still facing an uphill battle to capture customers and take advantage of the opportunity the digital transformation has provided. Customers are taking notice of these newcomers though, and efficient Read more…
A pair of Polish fintechs – Braintri and iCompass – have announced a merger plan that will enable both firms to grow their businesses and expand internationally. Braintri COO Wojciech Zatorski highlighted the opportunity for growth, and pointed specifically to the potential in markets in the EU, the Middle East, Asia, and the U.S. “The partnership Read more…
Revolut, the multi-functional cross-border card and app, is planning a $500 million Series D investment round, potentially enlisting tech giants like Softbank to its roster of investors, reports Henry Vilar of Fintech Futures (Finovate’s sister publication). According to City AM, the fintech has aggressive plans for expansions, with plans to launch in the U.S. after Read more…
Global payments and foreign exchange solution platform, Finablr, has boosted its stake in – and become a majority shareholder of – digital gifting platform, Swych. The investment adds to Swych’s Series B round, and will enable the company to reach a broader international audience via Finablr’s 160+ country network. “At Finablr, we facilitate access for consumers Read more…
Seven months after Simple’s CEO and Co-Founder Josh Reich announced plans to leave, the digital bank, which is owned by BBVA, appointed David Hijirida (pictured right), a former executive at Amazon, to take the reigns of the nine year old bank startup. Hijirida is replacing Dickson Chu who was temporarily working as the interim CEO Read more…
U.K.-based P2P lender Zopa added another $20.7 million (£16 million) to its latest Series G investment round this week. The company has built upon its $57 million (£ 44 million) August fundraising and now has more than $77 million (£60 million) in new capital to pursue its current objective: building a bank. “This new funding Read more…
Citing the fact that the 42 richest people on Earth have more wealth than the poorest 3.7 billion, social trading platform eToro made an announcement this week that it is supporting the social good through a new project. The Israel and London-based company’s new initiative, GoodDollar, is a non-profit, open source project that seeks to Read more…
Experian is launching a new range of consumer credit assessment products for lenders, Experian Credit 3D, reports Henry Vilar of Fintech Futures (Finovate’s sister publication). The product offers a multi-dimensional view of a borrower’s financial health, instead of a consumer’s credit information at a single point in time. The firm aims to deliver “a more Read more…