Fintech Rundown: A Rapid Review of Weekly News

Fintech Rundown: A Rapid Review of Weekly News

Happy Earth Day! Partnerships in payments and fundraising in the international investment/wealth management space are dominating fintech news headlines as the week begins.

Digital banking

Temenos announces appointment of new Chief Executive Officer Jean-Pierre Brulard, effective May 1, 2024.

Caribbean Bank Limited partners with Finastra to modernize its core technology and upgrade its back office operations.

Zafin appoints Charbel Safadi to replace Al Karim as CEO.

Open banking

Open banking firm Fintech Galaxy collaborates with Singapore-based FinbotsAI to launch new credit profiling capabilities.

Bill-sharing app Splitwise teams up with open banking platform Tink to bring Pay by Bank to Splitwise customers.

Banking-as-a-Service

BaaS innovator Finzly partners with EverBank to enhance the firm’s payment processing system.

Crypto

eToro teams up with 21Shares to launch a new, “data-driven,” crypto portfolio, 21Shares-Flows.

Payments

Ad-subsidized payments network (ASPN) Zilch extends its collaboration with Amazon Web Services.

Payments and financial platform for businesses Airwallex launched its payment acceptance solution in the U.S.

Klarna forges global partnership with Uber, bringing its Pay Now option to the company’s ride-sharing and delivery platforms.

Brite Payments goes live in Germany with its Instant Payments solution.

Business payments specialist Bottomline forges strategic partnership with spend management company Coupa.

TabaPay to acquire the assets of BaaS provider Synapse Financial Technologies.

Real-time, cross border payments company Nium introduces new Chief Payments Officer, Alexandra Johnson.

Versapay appoints Ed Neumann as Chief Financial Officer.

UAE-based Careem Pay expands its international remittance services in the U.K. to include its Faster Payments offering.

GoCardless and Intuit QuickBooks integrate to allow U.S. QuickBook users to use ACH-Pull for account-to-account payments.

Thunes agrees to acquire Tilia. Tilia will be rebranded as Thunes and will remain based in San Francisco.

Klarna expands global partnership with Expedia to offer BNPL payment option for flights and hotel stay purchases.

Sopra Banking Software and Paymentology partner to deliver card issuing services within its SBP Digital Core platform.

Visa and Standard Chartered partner on cross-border payments.

Regtech

U.K.-based digital compliance and AML solutions provider SmartSearch appoints Phil Cotter as CEO.

Investing and Wealth Management

Wealth management platform TIFIN introduces new Chief Operating Officer of its TIFIN AG platform Jeannette Kuda.

Goldman Sachs announces deal to sell its Marcus Invest digital investing accounts to Betterment.

Istanbul, Turkey-based investment app Midas secures $45 million in new funding.

Kinsted Wealth partners with software provider Objectway for its investment management platform.

Cairo, Egypt’s Bokra raises $4.6 million in pre-seed funding for its platform that offers investment products via asset backed securities.

Lending and Credit

U.K. property lender Together partners with nCino to enhance its lending operations.

BMO unveils its Greener Future Financing program to help SMEs in the U.S. build climate-resilient operations.

Pomelo lands $20 million in Seed funding and a $50 million warehouse facility for its tool that combines credit and international money transfer.

Figure Technology Solutions appoints Michael Tannenbaum as Chief Executive Officer.

E-commerce

Subscription management and billing platform Recurly introduces new dashboards with built-in benchmarks.

Klarna sells Hero, the virtual shopping platform it acquired in 2021, for $1.3 million (€1.3 million).

Splitit unveils FI-PayLater to empower banks to provide in-checkout installments for existing customers.

Identity verification

Financial crime risk data and fraud detection technology company ComplyAdvantage acquires knowledge graph builder Golden.

AU10TIX announces $18 billion in business fraud prevented since 2021.

Small Business Tools

Basware introduces AP Protect, an AI-powered solution that empowers finance teams to protect their organizations against profit loss, invoice errors, and fraud. 

Marqeta partners with OakNorth to offer commercial cards in the U.K.

Payroll

Rippling raises $200 million in new financing with $13.5 billion valuation.


Photo by Valentin Antonucci

Finovate Alumni News

On Finovate.com

  • Blend Integrates with Mortgage Credit Specialist Avantus.

Around the web

  • Recognise Financial Services to deploy nCino’s Bank Operating System.
  • NCR announces plans to acquire Midwest POS Solutions.
  • Courtesy of a new partnership with Personetics, Metro Bank launches its Business Insights solution for business customers.
  • Revolut teams up with Bottomline, enabling real-time payment services to its retail and business customers in the U.K.
  • As part of a new initiative, open banking specialist NDGIT to bring its PSD2 Compliance APIs to Switzerland.
  • 3E Software’s Teslar Software adds Pendleton Community Bank to list of clients.
  • Overbond, FI.SPAN, and Finn.AI among 12 Canadian fintech startups chosen for U.K. trade mission.
  • CardFlight’s SwipeSimple terminal available on PAX A80.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • Terafina to Boost Small Business Onboarding at PlainsCapital Bank.
  • IdentityMind Partners with BITPoint on KYC/AML Compliance.

Around the web

  • Bottomline Technologies teams up with Starling Bank and unveils its Real Time Payments Express Service.
  • Cambodia’s Chip Mong Bank to deploy Tranzware from Compass Plus to support cardless ATM cash withdrawals with cash-by-code transactions.
  • CEO World highlights Kabbage, Lendio, and TurnKey Lender as fintechs fighting for fair lending.
  • Toshl launches feature to split receipts to make expense tracking more precise.
  • SecuredTouch partners with Advantage FSE to provide seamless continuous authentication and fraud detection to digital banking customers.
  • NICE launches X-Sight Marketplace, a financial crime risk management-focused marketplace.
  • GoBankingRates features CalcXML in its list of top free online financial calculators.
  • TickSmith receives the A-team & BSO Award for fintech innovation.
  • MyInvenio launches multi-level process mining.
  • iSignthis has now approved more than 150 reportable accounts.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • Onfido Teams Up with Extended Stay Marketplace 2nd Address.
  • London’s Accountant Marketplace Capitalise Raises $4.5 Million.
  • Coinbase Acquires Blockchain Intelligence Platform Neutrino.

Around the web

  • Featurespace brings its anti-fraud technology to Singapore.
  • Revolut CEO Nik Storonsky urges UK government to provide special tech visa to ensure London’s status as a “fintech powerhouse” after Brexit.
  • Fiserv helps Kazakhstan’s Halyk Bank centralize its currency management process.
  • Bottomline Technologies partners with UMB Financial to offer Visa-powered payables solution to customers in the U.S.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Bottomline Technologies Slips but Damage May Be Slight

Bottomline Technologies Inc. shares have slipped since rumors began circulating on Wall Street in early April that it would miss its expected quarterly earnings. When the firm finally announced on April 14 that it would miss its earnings estimate by as much as $0.07 per share, Bottomline’s stock fell 17 percent in one day. Shares in Bottomline closed last Friday at $10.17, down from $14 per share in early April.

NCR Corp. says that Buffalo’s M&T Bank bought 390 NCR Personas 77 ATMs. Separately, NCR says that Europe’s KBC Group will replace its current ATMs in Belgium and France with NCR Personas M Series ATMs. (Contact: NCR Corp., 937-445-3784)

US Bank says it’s issuing a Rewards Visa Platinum Card for Sierra Trading Post and for Sportsman's Warehouse. (Contact: US Bank, 612-303-0732)

ACI Worldwide says it has a new version of its BASE24-es product designed for the British market. (Contact: ACI Worldwide, 402-390-8906)

bcgi says it has a reseller agreement with Telogic in which Telogic will be offering bcgi’s M-payments platform in Indonesia, Malaysia, Thailand, China and other Asian markets. (Contact: bcgi, 781-904-5026)

 

CheckFree Corp.’s CheckFreePay unit says that Boost Mobile’s eRe-Boost “top-up” service is available at some CheckFreePay walk-in locations. (Contact: CheckFree Corp., 678-375-1595)

 

Electronic Clearing House Inc. says it hired Karl Asplund as senior vice president of sales, a new position. Asplund was last senior vice president of Genpass Technologies. Also, Ryan Granard joined the company as vice president of datacenter operations. (Contact: Electronic Clearing House Inc., 800-262-3246)

 

Hypercom Corp. says its Optimum P2100 PIN-entry payment device was qualified for Sociedade Interbancaria de Servicos' (SIBS) operations in Portugal. (Contact: Hypercom Corp., 602-504-5383)

 

Netvantage says that Merkle will be using Netvantage’s ItemAge payments engine for the lockbox operations Merkle runs for charities. (Contact: Netvantage, 301-459-9700)

 

Misys Banking Systems says that China Bohai Bank is using Misys Opics and its risk management module, Misys Opics Risk. Bohai is a new bank in China.(Contact: 852-2230-2302)

 

Open Solutions Inc. says that Pittsfield, Mass.-based Greylock Federal Credit Union is using its Complete Credit Union Solution. (Contact: Open Solutions Inc., 860-652-3153)

 

Payment Processing Inc. says that United Systems Technology Inc. will be re-selling Payments Processing’s credit card processing for utilities billing. (Contact: 510-795-4988)

 

Paymetric Inc., says it hired Ken Naumann for a new position, senior vice president, sales and marketing. Nauman was last vice president of worldwide sales for Guidance Software. (Contact: Paymetric Inc., 713-895-2066)

 

Viewpointe says that SunTrust is the first bank to use its image-exchange connection with the Federal Reserve. (Contact: Viewpointe, 704-602-6654)

 

VeriFone Holdings Inc says that MICROS Systems Inc. has integrated VeriFone’s Vx 670 mobile payment system into its MICROS RES 4.0. payments system and will be selling it on North American restaurants. (Contact: VeriFone Holdings Inc., 508-283-4112)