Navigating the Future of Fintech Trends: Insights on Customer Experience, Disruptive Technology, and AI

Navigating the Future of Fintech Trends: Insights on Customer Experience, Disruptive Technology, and AI

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 looking to enhance customer engagement or a fintech professional exploring new avenues for growth, these insights offer valuable perspectives on navigating the challenges and opportunities ahead.

Customer experience

Disruptive technology

Revolutionizing finance with AI

 


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Pagaya Uses AI to Help U.S. Bank Customers Qualify for Unsecured Loans

Pagaya Uses AI to Help U.S. Bank Customers Qualify for Unsecured Loans
  • U.S. Bank is using technology from Pagaya to help underwrite unsecured personal loans.
  • Pagaya’s AI model generates underwriting recommendations and completes a secondary credit decisioning review of borrowers who were originally rejected.
  • The partnership, which has the potential to expand U.S. Bank’s borrower pool, has already led to the approval of more than 2,000 personal loans over the past few months.

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 are initially rejected. If Pagaya approves the borrower, U.S. Bank will originate and service the loan.

Key to the solution is Pagaya’s AI model that analyzes thousands of data points to generate tailored underwriting recommendations. Because the model uses more data than a traditional regression model, U.S. Bank can more efficiently find applicants who are responsible borrowers, but who don’t fit into the bank’s FICO score cutoff.

As interest rates remain high, banks will continue to face challenges in managing their lending operations. When higher interest rates lead to increased borrowing costs, some customers are unable to afford previously attainable loans. Also contributing to the smaller borrower pool, banks have become more selective in their lending practices by focusing on borrowers with strong credit profiles and stable financial histories.

“We know that we have many clients who don’t fall within our traditional credit parameters,” said U.S. Bank Head of Consumer Lending Partnerships Mike Shepard. “By expanding access to responsible credit solutions, we are giving clients access to funds when they need it the most, through their existing and trusted banking relationship with us.”

Ultimately, using Pagaya helps U.S. Bank extend loans to more clients by delivering credit to individuals who would otherwise be rejected. Since U.S. Bank began working with Pagaya for underwriting a few months ago, the bank has been able to approve more than 2,000 clients for personal loans.

New York-based Pagaya was founded in 2016 and has raised $1.6 billion in combined debt and equity across ten funding rounds. The company went public via a SPAC merger in 2021 and currently trades on the NASDAQ under the ticker PGY with a market capitalization of $8.95 million.

“We share U.S. Bank’s commitment to increasing access to life-changing financial products and services,” said Pagaya Chief Growth Officer Leslie Gillin. “With Pagaya’s integrated and seamlessly embedded lending technology, our lending partners can expand and deepen their client relationships to a more diverse group of borrowers.”


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FinovateEurope 2024 Sneak Peek Series: Part 6

A look at the companies demoing at FinovateEurope in London on February 27. Register today using this link and save 20%.

InvestGlass

InvestGlass is the #1 Swiss sales automation solution for banks, which features digital onboarding, CRM, marketing, portfolio management, and integrates on-premise AI GPT with legacy regulations. It is a Swiss sovereign solution.

Features

  • Eliminates client idle time and churn
  • Streamlines account openings
  • Offers hyper-targeted investment solutions to meet client needs efficiently
  • Compatible on premise/cloud

Who’s it for?

Banks, payment providers, brokers, wealth management companies, and governments.

Kodex AI

Kodex AI’s generative AI solution enables financial professionals to complete analyses in minutes rather than days: find information, analyze data, or instantly draft reports.

Features

  • Offers precision-tailored LLM specializing in financial data
  • Delivers transparent data sourcing with detailed audit trails
  • Provides advanced data security measures, mitigating breaches and compliance violations

Who’s it for?

Client-focused teams in private banks (wealth managers) and banks for corporate and institutional clients (client solutions team).

Taktikal

Taktikal is a regtech cloud solution that allows fintech companies to set up regulated workflows faster than ever before in a no-code self-service environment.

Features

  • Automates KYC and KYB due diligence
  • Streamlines approval and risk assessment workflows
  • Delivers visual workspace for designing customer onboarding experiences

Who’s it for?

Payment providers, financial service providers, insurance companies, professional services, and banks.

Six Special Sessions at FinovateEurope You Won’t Want to Miss

Six Special Sessions at FinovateEurope You Won’t Want to Miss

Amid the panel discussions, fireside chats, and keynote speeches, FinovateEurope 2024 will also offer a half dozen special addresses on topics ranging from tokenization to customer onboarding to open finance. With less than two weeks to go before the lights go up on the Finovate stage – 27 February to 28 February – here’s a brief introduction to some of the fintech experts and entrepreneurs who will be sharing their insights on major trends in fintech this year and beyond.

Visit our FinovateEurope hub today and save your seat. Register by 16 February and take advantage of big, early-bird savings!


The first special address of FinovateEurope will be part of an invitation-only session the day before the conference begins. Part of Finovate’s New Leaders+ experience, our pre-event briefing and networking opportunity for financial institutions will feature expert insights, fireside chats, and a special address: How Today’s Leading Financial Institutions Can Gain Critical Insight and Stay Competitive.

On Day One of FinovateEurope, we’ll feature four special addresses. In the first, Mateusz Grys, Product Manager, LiveBank by Ailleron; and Łukasz Parzyk, Expert Lead, ING Bank; will talk about the power of bank/fintech partnerships in a presentation titled Click, Connect, Mortgage. Success Story of ING & LiveBank by Ailleron.

Later that day, Nick Kerigan, Managing Director and Head of Innovation at Swift, will share his insights on Tokens & Machines: A Vision of the Future of Financial Innovation. Kerigan has more than 20 years experience in payments and banking. Before joining Swift in 2020, he was Managing Director for Future Payments at Barclays. In his current position, he helps lead Swift’s response to emerging technologies from digital currencies to tokenized assets.

Also on Day One, Santosh Reyes, founder and Managing Director for DLT Apps, will provide a Special Address. Founded in 2018, London-based DLT Apps is an engineering company that leverages its expertise in blockchain technology and artificial intelligence to transform financial services. Reyes has more than 20 years of experience in the financial industry and a track record of identifying and nurturing innovative ideas that can disrupt the traditional financial landscape.

With a title that leaves little to the imagination, Liam Chennells, CEO and Co-Founder of Detected, will provide the final Special Address of Day One. In his presentation – You Are Slowly Dying, But You Don’t Realize It Yet, Every Day Your Competition is Onboarding Customers Better than You – Chennells takes on what he calls “the silent killer of businesses.” His company, Detected, is re-inventing the traditional approach to onboarding for businesses, customers, and merchants. Welcome to the world of Onboarding Intelligence!

Day Two of FinovateEurope will feature one Special Address among our keynotes, fireside chats, and breakout streams on banking, customer experience, lending, open banking, payments, and more. Samantha Seaton, CEO of Moneyhub will deliver a Special Address titled, Your Product Isn’t the Hero – Your Customer Is. In her presentation, Seaton will answer questions such as how Open Finance can help firms become more customer-centric and how companies can leverage emerging technologies like AI to derive data insights and take advantage of the power of personalization.


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Fordefi Raises $10 Million for its Crypto Wallet-as-a-Service

Fordefi Raises $10 Million for its Crypto Wallet-as-a-Service
  • Fordefi has raised $10 million, bringing its total funding to $28 million.
  • The company will use the funds to launch a crypto Wallet-as-a-Service offering.
  • Fordefi leverages Multi-Party Computation (MPC), a technology that performs cryptographic operations across multiple devices without offering any single device access to the complete information.

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 Fordefi raised in 2022, today’s round boosts the company’s total funding to $28 million. The round was led by Electric Capital and saw participation from both new and existing investors, including Paxos and Alchemy.

“Our mission at Fordefi has always been to facilitate secure management of digital assets,” said Fordefi CEO and Cofounder Josh Schwartz. “We’re proud to continue building on this mission and provide both web3 and web2 businesses with a crucial tool to enable safe crypto adoption for all participants. We are committed to strengthening the Web3 ecosystem and ensuring its accessibility while maintaining a strong focus on security and transparency.”

Founded in 2021, Fordefi’s MPC wallet platform is a cryptocurrency wallet that boasts higher security by leveraging MPC, a technology that performs cryptographic operations across multiple devices without offering any single device access to the complete information. When compared with single-key wallets, which risk a single point of compromise, MPC wallets offer relatively high security.

The New York-based company plans to use today’s funds to facilitate their launch of its wallet-as-a-service (WaaS) offering. Fordefi’s WaaS enables exchanges, fintechs, and web3 businesses to embed a user-owned wallet within their existing applications.

Electric Capital Cofounder and General Partner Curtis Spencer said that the WaaS offering “extends [Fordefi’s] industry leading technology to any business wanting their customers to have the best mix of security and user experience to get on-chain.”

By using the “as-a-Service” model, Fordefi is helping organizations take advantage of increased consumer interest in digital assets and decentralized finance while maintaining a high level of security.

As interest in decentralized finance grows, so has increased regulatory scrutiny in the space. In many cases, however, the promise of cost savings and increase efficiencies from decentralized finance and blockchain technology has surpassed the fear of repercussions. Because of this, we’ve seen a flurry of news activity in the Web3 finance so far this year. Some of the top news headlines in 2024 include cryptocurrency payments app Oobit raising $25 million, digital asset embedded finance solution Mesh raising an undisclosed amount from PayPal Ventures, Franklin Templeton launching its Bitcoin ETF, and Circle filing for an IPO.

Over the course of the next 11 months, movement in the crypto world will continue to be slow and adoption will still be cautious. However, we can expect to see the fear of decentralized finance begin to melt away as organizations begin to realize the cost savings and efficiencies in the space.


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Humanizing the Digital Experience: A Conversation with NCR Voyix’s Erin Wynn

Humanizing the Digital Experience: A Conversation with NCR Voyix’s Erin Wynn

We’re starting off our Women in Fintech series this year with a conversation with Erin Wynn. As Executive Director of Product Management at NCR Voyix, Wynn helps both community banks and credit unions form strategies to implement their digital transformation and product roadmap initiatives.

Wynn also works as a mentor and coach for the company’s internal pre-sales teams. In this role, she helps ensure that sales engineers, solution architects and business analysts are supporting NCR Digital Banking’s vision and solutions.

We caught up with Erin Wynn to talk about her own beginnings in fintech, as well as what she is learning from her customers and clients about the most important trends in our industry.

NCR Corporation changed its name to NCR Voyix in the fall of 2023 as the company spun-off its ATM-based business, known as NCR Atleos. Headquartered in Atlanta, Georgia, the company has 35,000 employees globally, and trades on the NYSE under the ticker symbol “VYX.” NCR has been a Finovate alum since 2015.

How did you get started in fintech? What has led you to where you are today in your career?

Erin Wynn: I began my career in 1998, working at a bank, where I got my first taste of fintech. I worked so closely with one of our vendors, Digital Insight, that I even went to work for them for a few years before a different opportunity presented itself. In the long run, however, I knew Digital Insight was my home, and I returned to them in 2012. Digital Insight was acquired by NCR Voyix’s Digital Banking platform in 2014, but has managed to keep the familial relationship that drew me back here.

My dedication to being a lifelong learner has led me to amazing opportunities, holding various positions within NCR Voyix. I look at every experience as a chance to be curious and learn something new. Whether it be from a client, a colleague, or a partner, I believe everyone has something valuable to share and learn from.

My passion and deep understanding for how our products work and helping financial institutions achieve success have been central to my growth. As the executive director of product management for Digital Banking at NCR Voyix, I lean into my banking experience to help community financial institutions develop strategies for implementing digital transformation and better support their consumers and communities. I empower them to help customers and members improve their financial wellness — a topic I’m especially enthusiastic about (and one that’s driven my career in banking!).

Which digital banking features and capabilities are most resonating with clients? What trends are top of mind for customers?

Wynn: A significant trend we’ve seen is centered around personalization, which really means reminding the consumer that you know and care about them; they’re not just another number. This means creating digital experiences that feel like they’re catered to each user. Financial institutions are realizing that they can’t just compete on low loan rates or high deposit rates. Even if that’s what got the consumer in the door, it won’t be what keeps them there. The financial institutions that emphasize building and maintaining relationships, as well as providing meaningful tools and support (such as financial wellness resources), will be better positioned for loyalty and success.

Another major trend I’ve seen is finding ways to increase overall efficiency. This can mean embracing more automation or researching ways to better maximize current staff and technology. Our clients, like most people, are looking for ways to simplify processes and quickly solve problems. For example, NCR Voyix can support marketing automation, an area of typically high turnover within institutions, helping banks and credit unions make every interaction count.

What has been the impact of AI on banks and credit unions and their accountholders? How should financial institutions begin to incorporate AI into their organizations?

Wynn: AI has notable potential. It can create personalized interactions with each consumer at scale and significantly increase efficiencies. AI can help institutions approach certain processes in different ways. For example, more institutions are using AI when it comes to lending decisions instead of solely relying on traditional factors.

However, when it comes to AI and, especially, generative AI, banks and credit unions should know that the technology is only as strong as the data and information behind it. There is a lot of work to train AI to make AI effective; it’s not a magic bullet. You must give it the right data and training to effectively work, while continuing to provide human oversight.

My advice for banks and credit unions who are considering how to use AI is to first ask themselves what they’re trying to accomplish. For example, is there more of a need to enhance back-office efficiencies? Or are they trying to offer different ways to support users? Don’t try to do everything all at once; it will be too much. Understand that it won’t be perfect from day one. You’re going to have to experiment and improve the AI along the way. 

What does it mean to effectively humanize digital experiences? How can banks and credit unions accomplish this?

Wynn: Effectively humanizing the digital experience means leading with empathy throughout the user experience on their phone or online. This could be something as simple as analyzing the language used in an error message. Evaluate everything with a person in mind; are you providing them with relevant information in a human way, making them feel comfortable and supported along the journey? Of course, personalization is also a major factor here, as well. Money and finances are extremely personal, and they need to be treated with care.

Data is a core factor when it comes to humanizing digital. Effectively leveraging data can uncover crucial consumer behaviors, channel preferences, transactional patterns, and key events in the consumer journey. Employing technologies like AI enables financial institutions to analyze this data more effectively, anticipating member behaviors and offering contextual assistance, such as tailoring their website content to specific needs.

Looking ahead, I expect banks and credit unions to prioritize looking for ways to incorporate more empathy and personalization within their platforms, which will drive relationships and loyalty with their consumers.

Are there any leadership tips that you would like to share with other strong females in a male dominated industry?

Wynn: It all comes down to confidence. Knowing your worth and intelligence goes a long way. Surround yourself with a strong group of women who lift you up and encourage you. When you start to see yourself the way others see you, you are more likely to take a risk in your career or feel more confident to speak up. Also, recognize what motivates and drives you, and know that it’s okay if those things change over time. Everyone constantly evolves in their journey, and you’re sure to learn something every step along the way.


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Ripple to Acquire Digital Asset Platform Standard Custody

Ripple to Acquire Digital Asset Platform Standard Custody
  • Decentralized finance company Ripple acquired Standard Custody & Trust Company, a firm that offers institutional-grade custody, escrow, and settlement platform for digital assets.
  • The California-based company says the purchase not only underscores its commitment to regulatory compliance, but that it will also help bolster its existing product offerings.
  • Terms of the deal were undisclosed.

Blockchain and crypto solutions company Ripple announced its fourth acquisition today. The company bought Standard Custody & Trust Company for an undisclosed amount.

Ripple said the move serves two purposes. First, it underscores the company’s “commitment to regulatory compliance,” and second, it will enable Ripple to strengthen its existing offerings and add new products to its lineup. Specifically, the California-based company has its eye on Standard Custody’s limited purpose trust charter and its money transmitter licenses. Both will complement Ripple’s existing portfolio of regulatory licenses.

“Ripple and Standard Custody are dedicated to enabling enterprises to reap the benefits of blockchain across a host of financial use cases building institutional-grade solutions to tokenize, store, move, and exchange value. By expanding our licenses portfolio and making smart acquisitions, Ripple is well-positioned to take advantage of the current market opportunities and further strengthen our crypto infrastructure solutions,” said Ripple President Monica Long. “We will continue to leverage our strong financial standing to expand our product offerings, support new initiatives on the product roadmap and serve a broader segment of customers.”

Owned by blockchain infrastructure company PolySign, Standard Custody was founded to create an institutional-grade custody, escrow, and settlement platform for digital assets. “Together with Ripple, we will further innovate and extend our leadership position in providing crypto infrastructure,” said Standard Custody CEO Jack McDonald.

Amid an environment of increased scrutiny of decentralized finance tools and digital assets, Ripple is looking to conduct its operations in the most transparent, regulatory compliant way. The company and its subsidiaries have acquired a New York BitLicense, nearly 40 U.S. money transmitter licenses, a Major Payment Institution License from the Monetary Authority of Singapore, and a Virtual Asset Service Provider registration with the Central Bank of Ireland.

Ripple was founded in 2012 and offers tools for global money transfers, CBDCs, and digital assets. Last year, the company acquired digital asset management solutions company Metaco for $250 million. Additionally, Ripple has recently partnered with HSBC, BBVA, and Zodia Custody, and launched its payments offering in Africa. The company supports live commercial custody offerings in 20 regulatory jurisdictions, and facilitates payments to 70 countries worldwide.

Wealthify Taps ClearBank to Launch Instant Access Savings Account

Wealthify Taps ClearBank to Launch Instant Access Savings Account

U.K.-based Wealthify has sought out ClearBank to serve as its embedded banking partner. Online saving and investing service Wealthify will leverage ClearBank’s banking license and API to launch its Instant Access Savings Account.

ClearBank’s API offers real-time clearing access, or instant money transfers. Wealthify’s new savings account, which tracks the Bank of England’s base rate, pays out 4.91% AER (Annual Equivalent Rate), which equals 4.80% gross at the time of publishing.

Wealthify hopes the new account will help support customers in today’s cost of living crisis. “The way people save has evolved rapidly over the last decade,” said Wealthify CEO Andy Russell. “People want more from their money, and choices during different economic conditions, and we’re thrilled to provide it to them. Wealthify’s savings account—powered by ClearBank—offers speedy setup, a great rate, and the ability to see savings and investments all in one place—a holistic view of your finances, at your fingertips.”

Originally founded in 2016, Wealthify demoed its online investing service at FinovateEurope 2017 and had raised $3.15 million (£2.5 million) before being acquired by financial services giant Aviva in 2020. Wealthify currently offers investment products– including stocks and shares ISAs, junior ISAs, self-invested personal pensions– and general investment accounts along with its savings accounts.

The company’s tech-forward approach leverages human intelligence. All of the investments are managed by a team of professionals. “For wealth management experts like Wealthify, our embedded banking offering is an efficient way for them to focus on quality customer service, without spending unnecessary time and resources on licenses or outsourced projects,” said ClearBank CEO Charles McManus.

ClearBank was founded in 2015 by former Worldpay CEO Nick Ogden. The UK-based company earned its banking license from the FCA in late 2016. While ClearBank itself does not lend, provide credit, or invest end users’ funds, the company does allow its banking-as-a-service clients to leverage its banking license to provide banking services. End customers benefit from $107,000 (£85,000) in deposit insurance from the FSCS.


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Nordic Capital Acquires Canadian Fintech Zafin

Nordic Capital Acquires Canadian Fintech Zafin
  • Nordic Capital has agreed to acquire Canadian banking technology company Zafin.
  • The acquisition will help Zafin become a “global leader in banking technology solutions.”
  • Zafin made its Finvoate debut at FinovateFall in 2017.

Nordic Capital agreed this week to acquire a majority share in Canadian SaaS core modernization solution provider for FIs, Zafin. In a statement, Nordic Capital noted that the investment was made “in close partnership with Zafin’s founders and management, who will reinvest in the company alongside Nordic Capital.”

Terms of the transaction were not disclosed. The deal is expected to be completed during the first quarter of this year, subject to standard closing conditions.

Zafin CEO Al Karim Somji called the transaction an “absolute game-changer” for his team and its customers. “We have been powering the modernization and transformation of banks and future-proofing their banking technology investments for years,” Somji said. “With Nordic Capital’s scale, technology expertise, and deep market understanding, this partnership enables us to become a global leader in banking technology solutions.”

Nordic Capital Advisors Partner Mohit Agnihotri said the deal will help Zafin “emerge as a gold standard in bank IT modernization efforts.” He added, “Nordic Capital has been highly impressed with Zafin’s innovative approach to helping its customers react to a constantly changing business landscape.” Based in Stockholm, Sweden, Nordic Capital invests in companies headquartered in both Northern Europe and North America. The firm has made 24 technology and payments platform investments since 2001, deploying $6.5 billion (€5.8 billion) in equity capital. Nordic Capital includes Finovate alums boost.ai, Signicat, and Trustly among its portfolio companies.

Zafin’s customers include FIs such as Wells Fargo, US Bank, HSBC, Truist, and PNC. The company’s core SaaS platform enables users to collaborate in the design and management of pricing, products, and packages. The platform also gives users the ability to respond dynamically to changing customer preferences and market opportunities. This means faster time to market, greater potential revenues, lower operating costs, and fewer operational risks – all while maintaining compliance and transparency.

Banks using Zafin’s technology have experienced 129% increase in deposits, 50% improvement in time to market, and 70% reduction in annual fee change processing costs. Five of the top seven banks in the U.S. run on Zafin’s platform. The company processes more than 500 million accounts every day.

Zafin made its Finovate debut at FinovateFall in 2017. At the conference, the company demoed its enterprise banking platform that enables FIs to manage dynamic multi-product offerings, real-time pricing and billing, loyalty and rewards, analytics, and cash management.

Headquartered in Toronto, Ontario, Canada, Zafin was founded in 2002. A few months ago, we caught up with Zafin President of Modernization and Transformation Charbel Safadi. In a wide-ranging conversation, we discussed the challenges faced by banks when it comes to digital transformation. Safadi also shared his thoughts on what FIs can do to future-proof their businesses.


Photo by Brett Sayles

FinovateEurope 2024 Sneak Peek Series: Part 5

A look at the companies demoing at FinovateEurope in London on February 27. Register today using this link and save 20%.

Citrusx

Citrusx is a trusted end-to-end platform for AI validation and governance, enabling accurate, safe, and compliant AI in organizations.

Features

  • Provides 100% transparency into models
  • Delivers 82% faster time to production
  • Reduces risk by 75%

Who’s it for?

Banks, payment providers, credit unions, insurtech companies, and lending providers.

Darksquare

Darksquare is an investment platform for individuals that focuses on alternative, private market investment opportunities currently out of reach.

Features

  • Improves investment portfolio diversification
  • Potentially generates high-risk adjusted returns (target 12-15% pa)
  • Offers curated dealflow and bespoke research

Who’s it for?

Individuals, small-and-medium-sized asset managers, and family offices.

Doshi App

Doshi helps banks, credit unions, and lenders offer financial education to their communities and empower users with everyday money confidence.

Features

  • Boosts money confidence through engaging lessons and rewards
  • Delivers tailored user insights through embedded surveys and AI-based learning
  • Drives conversions to banking products and services

Who’s it for?

Banks, building societies, credit unions, responsible lenders, and lending and investment platforms.

FRNZX

FRNZX streamlines crypto AML compliance for banks and VASPs, from onboarding through ongoing surveillance, EDD, and suspicious activity reporting.

Features

  • Simplifies crypto AML integration; eases onboarding and EDD
  • Aggregates fragmented data for unified insights
  • Tailors policy enforcement to institutions’ risk appetite, enhancing compliance

Who’s it for?

Banks, financial institutions, virtual assets service providers, law and accounting firms, and AML compliance firms.

Intrepid Fox

Intrepid Fox is a unique SaaS solution that improves the KYB process and makes it 10x faster for banks and fintechs.

Features

  • Reads and understands most difficult free-form documents
  • Collects missing information directly from customers
  • Prepares information-rich summaries for compliance specialists

Who’s it for?

Fintechs, banks, neobanks, and payment providers.

Fintech Rundown: A Rapid Review of Weekly News

Fintech Rundown: A Rapid Review of Weekly News

We’re already well into the second month of 2024, and while funding has slowed down a bit, news in the decentralized finance world has picked up. Take a look at some of the top headlines in fintech and banking this week.


Digital Banking

Israel-based digital bank oneZero unveils its new GenAI-powered assistant, Ella.

HighRadius acquires Cforia.

Payments

Tuition payments solution for trade and technical school students Mia Share raises $6.5 million in funding.

Fiserv expands in-person bill payment network to NCR Atleos ATMs.

Airbase appoints Mathew Schulz from Forrester as its new Vice President of Procurement Strategy. 

Blackhawk Network launches Select Codes to allow quick distribution of rewards.

NMI launches NMI Payments, a comprehensive embedded payments solution.

Tradeshift appoints Iain Balchin as Chief Financial Officer.

i2c Inc. adds new clients in Brazil, Dominican Republic, Mexico, Peru, and Puerto Rico.

Banking-as-a-Service

Nordic Capital inks agreement to acquire majority stake in SaaS core modernization provider Zafin.

Crypto

Crypto wallet app COCA introduces virtual cards.

Cryptocurrency exchange OKX expands to Argentina.

Crypto custodian BitGo acquires private securities and alternative investment infrastructure provider Brassica.

Open banking / Open finance

Moneyhub named supplier of Crown Commercial Service’s (CCS) Open Banking Dynamic Purchasing System framework for the U.K. government.

Akoya, Envestnet | Yodlee, MX, and Plaid to integrate into FISOpen Access platform.

FIS and Banked partner to create new pay-by-bank solutions.

Wealth management & Investing

Swedish investment platform Kameo secures $1.3 million (£1.1million) investment from Incore Invest.

Attune Solutions launches Attune WealthData powered by BridgeFT.

Clearwater Analytics launches Clearwater MLx, mortgage loan investment solution.

Blue Ocean Technologies and DriveWealth partner to expand geographic reach and trading services.

Exponential Markets receives strategic investment from Citi.

Card Issuance/Management

Card issuing platform Marqeta inks travel management software company, Internet Travel Solutions (ITS).

ConnexPay launches ConnexPay Flex, a new variable-rate virtual card.

Mastercard and the Bank of Punjab expand their partnership to cover the commercial segment.

Lending

Yardline and AMZ Pathfinder partner on ecommerce funding.

Traditional finance

Barclays to acquire Tesco Bank’s retail banking business.

AtlasClear combines with SPAC and acquires Wilson-Davis & Co.

NCR Atleos to bring surcharge-free cash access to American Express checking customers.

Clearwater Analytics extends support for accounting with fund accounting and pooled participant interaction.

Fraud & security

Signzy launches one-touch KYC for seamless digital onboarding.

TruShield Insurance collaborates with Visa to help address cybersecurity risks facing small businesses.

Tina Stewart joins Utimaco as Chief Marketing Officer.

Data Zoo names former London Stock Exchange Group executive Charlie Minutella as new CEO.

Canada’s EQ Bank partners with Trulioo for identity document and biometric verification.

Armilla AI lands $4.5 million in Seed funding to help de-risk AI adoption for enterprises.

Mortgagetech

Better launches digital VA loans powered by Tinman.


Photo by AbsolutVision on Unsplash

Founders Series: Five Conversations on Hiring

Founders Series: Five Conversations on Hiring

Headlines announcing layoffs in fintech and banking have been pulsing throughout the news cycle since the start of last year. And according to one fintech expert, we may see more throughout 2024.

And while there is no doubt that layoffs and job losses are personally devastating to those involved, there may be a silver lining. Freeing up talent– especially experienced and/or technical talent– allows other organizations in the sector the opportunity to capture new, experienced professionals while offering individuals the chance to level up their career.

In a series called Fintech Founders, our sister publication Fintech Futures recently produced five videos on hiring. The videos capture founders’ thoughts on their internal hiring process, how they intentionally build their company culture, their hiring strategy, how they create a versatile team, and upcoming industry trends.

Tune in to the conversations below from:

Hiring process

Building a company culture

Hiring strategy

Building a versatile team

Upcoming trends


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