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Alternative small business lending platform Behalf has benefitted from its ties with Visa this week. The New York and Israeli-based company announced it landed an undisclosed amount of funding from the payments giant, marking Visa’s first investment in an Israeli company. The investment will be added to Behalf’s previous total funding of $306 million in Read more…
Two wealthtech companies from opposite sides of the globe have built upon their partnership this week. New Jersey-based DriveWealth and Singapore-based Bambu have collaborated on the launch of a white-label, roboadvisory platform for U.S. wealth managers. While the two have worked together for the past three years on products for overseas markets, this is their first joint Read more…
Business financial management just got a lot easier for small businesses. B2B payments platform Paystand is teaming up with Xero to enable the cloud accounting firm’s customers to accept bank and card payments directly in sales orders and invoices. This will give Xero users a seamless, automated way to capture payments and reconcile them directly Read more…
P2P lending pioneer Zopa has raised more than $57 million in funding (£44 million) to support the launch of its challenger bank. The financing represents the first part of its current fundraising round, according to a post at the company blog, and comes amid reported strong growth for the sector and the company – including full-year profitability Read more…
In a bid to help credit unions better fight check fraud, mobile enterprise digital transaction management solutions provider eDOC Innovations is leveraging technology from Mitek. eDOC will add Mitek’s Mobile Deposit technology and its advanced risk mitigation features to its eDOC Mobile RDC. eDOC Innovations COO Mark Fierro credited the growth of the company’s RDC Read more…
Identity authentication and secure card issuance company Entrust Datacard announced it purchased SMS Passcode from CensorNet, a cloud security company. Additionally, Entrust Datacard made a strategic investment of an undisclosed amount in CensorNet. Terms of both the investment and the acquisition remain undisclosed. With the acquisition of Copenhagen-based SMS Passcode, an adaptive multi-factor authentication technology solution, Entrust Datacard hopes Read more…
Canada’s largest credit union by membership has partnered with ebankIT to overhaul its digital banking offerings. Coast Capital Savings, with $13 billion ($17 billion CAD) in assets, will leverage ebankIT’s omni-channel digital banking platform to power both the credit union’s online and mobile banking channels, as well as its website. “With ebankIT’s versatile platform and Read more…
Banking technology company Five Degrees is expanding its geographic footprint today with the acquisition of Iceland-based Libra, a core banking technology firm. The purchase is expected to boost Amsterdam-based Five Degrees’ global footprint and will bring additional expertise in securities and loans to Five Degrees’ clients, ultimately offering a more robust digital transformation experience. The Read more…
A new partnership between financial services risk management solutions provider Feedzai and Credorax is designed to help merchants better protect themselves against fraud. “Feedzai and Credorax will provide the best solution for merchants that need a powerful risk management and fraud prevention platform to protect their customers in a seamless way,” Feedzai CEO Nuno Sebastiao Read more…
In an extended post at the Zooz blog, company CEO Oren Levy announced that the eight-year old global payments platform he co-founded had agreed to be acquired by PayU. Financial terms were not disclosed, but Reuters reported that the deal was valued between $80 million and $100 million. “Although it wasn’t entirely out of the Read more…
Digital identity verification company Onfido partnered with India’s largest shared ride company Zoomcar last week. This marks Onfido’s sixth ridesharing partnership. The London-based company has also teamed up with Drivy, BlaBlaCar, EasyCar, Turo, and most recently, SnappCar. Zoomcar’s mobile app allows users to rent cars and cycles by the hour, day, week, or month. Onfido will Read more…
Fixed income liquidity matching innovator Algomi is the recipient of new funding courtesy of an investment from Euroclear Information Services (EIS). Existing investors Euronext, AllianceBernstein, and S&P Global also participated. The exact amount of the funding was undisclosed; the company’s previous total capital stood at $14 million. “Our investment in Algomi is driven by client demand Read more…