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Canadian fintech Zūm Rails (pronounced zoom rails) brought in $7.78 million (CAD $10.5 million) in funding this week. The Series A round, which was led by U.S.-based Arthur Ventures, marks the company’s first VC funding round. Founded in 2019, Zūm Rails seeks to make the payments experience less disjointed by integrating open banking and instant Read more…
Q2’s financial services clients have a new way to reward their consumers. That’s because fractional stock rewards platform Bits of Stock has teamed up with the digital banking and lending solutions company. With Q2’s Digital Banking Platform, Q2’s financial services clients can offer their customers fractional stock when they redeem loyalty points or as a Read more…
With two of the world’s top three banks, two of the largest U.S. banks, and American Express among its customers, PayPal Ventures’ first AI-based investment, a company called Rasa, is well on its way toward making a name for itself in the “Generative AI for financial services” space. “This investment accelerates our lead in the Read more…
European consumer and business credit data provider CRIF launched its ESG Analytics solution this week. The technology will give banks and financial institutions in the U.K. the ability to quickly and accurately assess the environmental, social, and governance (ESG) profiles of their U.K. and Europe-based suppliers, partners, and customers. ESG Analytics draws on more than Read more…
In the landscape of financial services, fintech trends are always evolving and keeping up with competitors requires embracing change and innovation. In this blog post, we’ve curated a selection of videos that delve into key areas shaping the industry’s future: customer experience, disruptive technology, and the strategic implementation of AI. Whether you’re a banking executive Read more…
U.S. Bank announced today it has tapped alternative underwriting solutions company Pagaya to help more borrowers qualify for loans. U.S. Bank initiated the partnership to help more clients access personal loans, which often pose more risk for lenders because they are unsecured. Pagaya leverages AI to complete a secondary credit decisioning review of borrowers who Read more…
After last year’s regulatory missteps in the crypto world froze activity in the decentralized finance space for months, the crypto winter is slowly beginning to thaw. In today’s move toward a crypto spring, Multi-Party Computation (MPC) digital wallet company Fordefi has raised $10 million in a Seed Extension round. When added to the $18 million Read more…
API-driven deposit network ModernFi boosted its funding total to $23.2 million today after landing $18.7 million in Series A funding. The company will use the funds to market its platform to community and regional banks. Canapi Ventures led the round, with participation from Andreessen Horowitz and Remarkable Ventures. Three banks, including Huntington National Bank, First Read more…
Digital Onboarding, a financial services onboarding service provider, announced a $58 million growth investment today. The funds come from Boston-based private equity firm Volition Capital and boost Digital Onboarding’s total funding to $62.6 million. Digital Onboarding will use today’s investment to accelerate its product roadmap, improve support for existing customers, and drive awareness in new Read more…
Just weeks into 2024 and we’re celebrating a major new Finovate milestone: the 200th episode of the Finovate Podcast! “I can’t believe I’ve now got 200 episodes under my belt!” Finovate VP and Podcast host Greg Palmer shared on X after the 200th episode dropped on Wednesday. In this most recent show, Greg Palmer shares Read more…
Swiss fintech Temenos launched its end-to-end Temenos Enterprise Services on the Temenos Banking Cloud this week. The new offering will enable banks to lower the cost, complexity, and risk of modernization, and deploy new software solutions in 24 hours. Temenos President Product and Chief Operating Officer Prima Varadhan called the offering “a game-changing approach.” Varadhan Read more…
Payments technology giant Mastercard is partnering with BaaS digital platform provider 4thWave to leverage its supply chain financing and collections platform. Mastercard will use 4thWave’s technology for managing B2B payments to facilitate cashflow for corporate buyers and suppliers in the Eastern Europe, Middle East and Africa (EEMEA) region. More specifically, the technology will be integrated Read more…