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This week’s edition of Finovate Global takes a look at recent developments in the fintech industry of the United Arab Emirates (UAE). Thndr, a digital investment platform based in Egypt, announced an expansion to the United Arab Emirates (UAE) this week. The expansion comes after the company secured a Category 3A license with retail endorsement Read more…
Irish digital banking and payment solutions provider CR2 has agreed to be acquired by Morocco’s Hightech Payment Systems (HPS). The move will bolster HPS’s digital banking and payment capabilities and consolidate the company’s status as a leader in the African market, especially in its Francophone regions. The acquisition also will help HPS expand in English-speaking Read more…
With neobank Monzo’s big investment and multi-billion dollar valuation on one side and the continued woes of BaaS provider Synapse on the other, “interesting times” continue to characterize the fintech landscape as we slide into the summer months. Be sure to check our Fintech Rundown all week long for the latest updates and fintech headlines. Read more…
This week, Finovate Global looks at recent fintech developments in France. French start-up Lydia announced the launch of a new digital banking brand this week. Named Sumeria, Lydia plans to invest more than €100 million in the new initiative, as well as hire 400 people over the next three years. Sumeria, according to a post Read more…
Challenge Accepted! Monzo Raises Millions U.K.-based challenger bank Monzo secured an additional $190 million (£150 million) in funding this week, adding to the $426 million (£340 million) raised just a few days ago. The Series I round, totaling $616 million (£490 million) gives the digital bank a valuation of $5.2 billion (£4.1 billion) and represents Read more…
Investment and innovation are defining the wealth management space as the week begins. LA-based wealth management platform Altruist enters the week with $169 million more in capital, courtesy of a Series E round led by Iconiq Growth. Meanwhile, JP Morgan Chase announced that it has deployed generative AI to enhance its thematic investment offering. Be Read more…
A few days ago, we highlighted the $25.7 million (€24.1 million) investment secured by Danish challenger bank Lunar. Also this week, we noted partnership news from Denmark-based real estate tokenization platform – and FinovateSpring alum – DigiShares. With all this Danish fintech news, we are devoting this week’s edition of Finovate Global to the fintech Read more…
Canada-based BMO is bringing its Greener Future Financing program to the United States. The eighth largest bank in North America by assets, BMO announced the launch earlier this week. Greener Future Financing is the financial institution’s first climate financing program designed to help SMEs build climate-resilient operations. Specifically, the program will offer climate resiliency loan Read more…
SaaS core banking platform 10x Banking has inked a strategic alliance agreement with Deloitte. Effective in both the U.S. and the U.K., the agreement will power greater cooperation when it comes to helping financial institutions around the world access transformative technologies. As part of the strategic alliance, the two firms will launch a series of Read more…
This week’s edition of Finovate Global reviews the latest fintech developments in Central and Eastern Europe (CEE). This region features a diverse range of countries including Albania, Bulgaria, Croatia, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, the Slovak Republic, and Slovenia. More than 250 million people live in the CEE, which has a Read more…
YCombinator (YC) recently wrapped up its three-month winter tech accelerator program, holding its demo day last week. This program, which is one of two the accelerator hosts each year, comprised of 21 fintech companies. The fintech graduates from YC’s winter program can be broken down into six main categories: asset management, banking and exchange, credit Read more…
Illinois-based Busey Bank announced today it has selected card issuer CorServ to power a a modern credit card program for its commercial customers. Busey Bank has switched from its Agent Bank program, in which a third party financial institution issued the cards, selecting CorServ’s Account Issuer Program, in which Busey Bank will directly issue credit Read more…