Payments

Raiffeisen Bank International and Moxtra develop virtual branch service

Raiffeisen Bank and Moxtra develop virtual branch service

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Raiffeisen Bank International has launched a virtual branch service in partnership with US-based fintech company Moxtra. RaiConnect features a full suite of collaborative modules and...
Santander spins out fintech venture capital arm

Santander spins out fintech venture capital arm

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Santander has spun out Innoventures and allocated another $200 million to its newly rebranded fintech venture capital arm. Santander Innoventures will be known as Mouro...
Backbase rolls out platform at TPBank

Backbase rolls out platform at TPBank

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Netherlands-headquartered Backbase has deployed its digital-first banking platform at Vietnam’s Tien Phong Commercial Joint Stock Bank (TPBank). The Backbase platform allows banks to design a...
InvestSuite partners with Synechron to develop investment solutions

InvestSuite partners with Synechron

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Belgium-based fintech company InvestSuite has partnered with Synechron to develop modern digital investment solutions. Synechron, a global digital IT consultancy firm for financial services, will...
Checkbook joins Visa’s fintech fast track programme

Checkbook joins Visa’s fintech fast track programme

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US-based Checkbook.io, an end-to-end online payments processor, has joined Visa’s fintech fast track programme. Checkbook, founded by former Visa chief network architect PJ Gupta, provides...
Urban Jungle raises additional £1.6 million

Urban Jungle raises additional £1.6 million

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Renters' insurance provider Urban Jungle has gained a further £1.6 million of investment in its second major funding round of the year. The UK-based insurtech...
Modulr becomes first UK non-bank to offer confirmation of payee

Modulr becomes first UK non-bank to offer confirmation of payee

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UK paytech company Modulr has become the first non-bank to offer confirmation of payee, a fraud prevention initiative designed to ensure payments reach the...
Finix raises additional $30 million for payments infrastructure-as-a-service

Finix raises additional $30 million for payments infrastructure-as-a-service

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US paytech startup Finix has extended its series B funding round and raised an additional $30 million from Lightspeed Venture Partners and American Express...
Xero pays $58 million for Waddle

Xero pays $58 million for Waddle invoice lending platform

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New Zealand-headquartered accounting software company Xero has acquired cloud-based Waddle for approximately $58 million. Founded in Australia in 2014, Waddle’s lending platform service allows banks,...
Cryptocurrency exchange FTX acquires Blockfolio

Cryptocurrency exchange FTX acquires Blockfolio

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Cryptocurrency exchange FTX has acquired consumer portfolio tracking app Blockfolio for $150 million. The cash, cryptocurrency and stock deal will see a cryptocurrency exchange focused...
Moov Financial raises 5.5 million in seed funding

Moov Financial raises 5.5 million in seed funding

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Moov Financial, the US-based open source embedded banking platform, has raised $5.5 million in seed funding. Led by Bain Capital Ventures, the funding round also...
Mastercard and TransferWise go global with expanded partnership

Mastercard and TransferWise go global with expanded partnership

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Mastercard and TransferWise have expanded their partnership to enable the issuance of cards in almost any market around the world. Under the expanded partnership, cards...
Commonwealth and JPMorgan Chase to investigate fintech impact on financially vulnerable

Commonwealth and JPMorgan Chase to investigate fintech impact on financially vulnerable

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Commonwealth, an organisation dedicated to strengthening the opportunity and security of financially vulnerable people, has partnered with JPMorgan Chase to address the challenges and...
OutSystems strengthens senior leadership team

OutSystems strengthens senior leadership team

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OutSystems, whose low-code application development platform is in use across insurance, banking, local government, higher education and healthcare, has named Patrick Jean as chief...
PayActiv secures $100 million in series C funding

PayActiv secures $100 million in series C funding

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PayActiv, the US-based provider of an employer-sponsored earned wage access and holistic financial wellness platform, has secured $100 million in funding. Private equity firm Eldridge...
OakNorth Bank receives new CBILS allocation after approving over £600m in loans

OakNorth Bank receives new CBILS allocation

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OakNorth Bank has approved more than £600 million in new loans to support British businesses since lockdown began in March. The UK bank, which is...
Stripe taps General Motors for CFO

Stripe taps General Motors for CFO

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Stripe has appointed a chief financial officer as the US-headquartered paytech embarks on its next stage of growth. Dhivya Suryadevara is joining Stripe as chief...
Revolut and Starling Bank eye profitability despite losses

Revolut and Starling Bank eye profitability despite losses

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The UK's three major challenger fintech firms are yet to turn a profit, but two, Revolut and Starling, remain optimistic that they can overcome...
ICE strengthens mortgage services with Ellie Mae acquisition

ICE strengthens mortgage services with Ellie Mae acquisition

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Intercontinental Exchange (ICE) has agreed to acquire Ellie Mae, a cloud-based platform provider for mortgage finance. The cash and stock acquisition values Ellie Mae, a...
DIFC FinTech Hive receives record number of applications

DIFC FinTech Hive receives record number of applications

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The Dubai International Financial Centre's (DIFC) fintech accelerator has received its highest ever number of applications. DIFC FinTech Hive, an annual programme that encourages and...
Quantum Group acquires mobile cashback app Tail

Quantum Group acquires mobile cashback app Tail

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UK-based fintech incubator Quantum Group has acquired mobile cashback app Tail. Quantum Group, which acquired 30% of Tail in 2019, completed its acquisition of the...
Candis attracts €12 million for automated accounting platform

Candis attracts €12 million in funding

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Germany-based startup Candis, the provider of an automated accounting platform, has raised €12 million in series B funding. Candis plans to invest the funding in...
Google to launch US digital bank account with BBVA and others in 2021

Google to launch US digital bank account with BBVA and others in 2021

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Google has partnered with eight banks, including BBVA, to offer digital accounts to Google Pay users in the US. The internet company revealed late last...
iwoca urges UK bank CEOs to refer CBILS applicants

iwoca urges UK bank CEOs to refer CBILS applicants

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Small business lender iwoca has called on the chief executive officers of the UK’s largest banks to actively refer applicants to the fintech to...
FinecoBank enjoys strong H1 2020 in UK

FinecoBank enjoys strong H1 2020 in UK

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European fintech FinecoBank registered strong activity from its UK client base across its brokerage, investing and banking business during the first half of this...
What does the Wirecard scandal mean for the future of digital banking 2

What does the Wirecard scandal mean for the future of digital banking?

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In the midst of the Covid-19 pandemic, right between the health crisis winding down and the fear of a second wave kicking up again,...
TransferWise valuation reaches $5 billion

TransferWise valuation reaches $5 billion

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The valuation of TransferWise has increased to $5 billion after new and existing investors bought $319 million of shares in the private London-headquartered paytech...
Amazon Pay partners with Acko to offer car and bike insurance in India

Amazon Pay partners with Acko to offer car and bike insurance in India

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Amazon Pay has teamed up with Acko, India's first digital insurer, to offer car and bike insurance. Customers can now purchase Acko car and bike...
Insurtech fundraising rebounds in Q2 2020

Insurtech fundraising rebounds in Q2 2020

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Global insurtech investment bounced back in Q2 2020 to $1.56 billion after a Covid-19-induced slowdown, according to insurance adviser and broker Willis Towers Watson. The...
Digital asset manager Scalable Capital raises €50 million

Digital wealth manager Scalable Capital raises €50 million

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Germany-based wealth manager Scalable Capital, hot on the heels of its B2B partnership with Barclays, has raised €50 million in series D funding. The funding,...
Bits of Stock and Button bring wealth wellness to consumers and brands

Bits of Stock and Button bring wealth wellness to consumers and brands

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The brand loyalty and investment app on a mission to drive wealth back into communities has partnered with mobile commerce platform Button to enable...
Percipient raises $5 million for new solution

Percipient raises $5 million for new solution

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Singapore-based digital banking and data firm Percipient has raised US $5 million to support the launch of a new solution. Stat Zero, a US venture...
Accountants crucial to helping small businesses through crisis, says iwoca

Accountants crucial to helping small businesses, says iwoca

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The accountancy profession can play a key role in helping businesses access the finance they need to secure their future beyond the coronavirus (Covid-19)...
FCA and City of London Corporation set up Covid-19 digital sandbox

FCA and City of London Corporation set up Covid-19 digital sandbox

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The UK Financial Conduct Authority (FCA) and the City of London Corporation will collaborate on the pilot of a digital sandbox to support innovative...
EIS - putting the customer at the heart of insurance

EIS: putting the customer at the heart of insurance

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  EIS is the San Francisco-headquartered operator of a platform that allows insurers to rapidly create and deploy new and innovative products and services via...
Not-for-profit lender FfY raises £7.5 million in investment

Not-for-profit lender FfY raises £7.5 million in investment

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UK not-for-profit Fair for You (FfY) has landed £7.5 million in investment to take on the traditional credit sector. The investment, which includes £5 million...
Currencycloud secures Dutch e-money licence

Currencycloud secures Dutch e-money licence

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Global payments platform Currencycloud has secured an e-money licence from De Nederlandsche Bank, the Dutch central bank, allowing it to continue operating across the...
Opera to acquire Fjord Bank as fintech expansion continues

Opera to acquire Fjord Bank as fintech expansion continues

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Norway-headquartered internet company Opera is moving into the banking space with the acquisition of Fjord Bank. With a growing user base of more than 50...
ClearBank expands senior management team with two new hires

ClearBank expands senior management team with two new hires

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ClearBank, the cloud-based clearing bank, has appointed James Hopkinson as chief financial officer and Stuart Morley as chief information officer.  Hopkinson joined ClearBank earlier this...
Tide pauses BBLS lending

Tide pauses BBLS lending

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UK digital bank Tide has paused lending through the government's Bounce Back Loan Scheme (BBLS) after funding fell through. In an open letter to customers,...
Incoming streaming fintech Wagestream raises £20 million

Incoming streaming fintech Wagestream raises £20 million

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Wagestream, the fintech that enables employees to access their earned wages in real time, has completed a £20 million series B funding round. The investment,...
Starling Bank beefs up business banking with new toolkit and USD account

Starling Bank beefs up business banking

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Starling Bank is helping British entrepreneurs get back to business with the launch of a new digital banking toolkit and a US dollar account...
Mastercard signs up three fintechs to opening banking solution

Mastercard signs up three fintechs to opening banking solution

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Three fintechs have joined the Mastercard Open Banking Protect. Aion, DiPocket and Modulr have all signed agreements to use the Protect solution, which is a...
ScaleFactor suspends operations as Covid-19 pandemic hits small businesses

ScaleFactor suspends operations as Covid-19 pandemic hits small businesses

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ScaleFactor, the accounting and finance platform for small business, is suspending a majority of its operations due to the coronavirus (Covid-19) pandemic. Blaming "headwinds created...
Ingressive Capital boosts seed funding power of African startup fund

Ingressive Capital boosts seed funding power of African startup fund

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Nigeria-based venture capital firm Ingressive Capital has doubled its investment vehicle to back high-growth, tech-enabled startups across Africa. The investment fund, now with $10 million...
New York makes it easier to launch cryptocurrency startups

New York to make it easier to launch cryptocurrency startups

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The New York State Department of Financial Services has proposed a new conditional licensing framework that would make it easier for cryptocurrency startups to...
Mastercard to acquire Finicity to advance open banking strategy

Mastercard to acquire Finicity to advance open banking strategy

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Mastercard has entered into an agreement to acquire Finicity, a North American provider of real-time access to financial data and insights, for $825 million. The...
iwoca - the heart of the recovery 2

iwoca: the heart of the recovery

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About iwoca iwoca is unlocking economic growth by expanding the financial possibilities available to small business owners. Since launching in 2012, iwoca has made funding...
Checkout.com valued at $5.5 billion

Checkout.com valued at $5.5 billion

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Checkout.com has become one of the most valuable fintechs globally, with its latest funding round valuing the international paytech at $5.5 billion. Coatue led the...
US consumer credit and loan company Credit Sesame has completed its acquisition of Canadian challenger bank Stack

Credit Sesame acquires challenger bank for international expansion

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US consumer credit and loan company Credit Sesame has completed its acquisition of Canadian challenger bank Stack. The acquisition is the first step toward Credit...