August 8, 2024 @ 11:37 am By JD Alois  |  

Following a GAAP net loss of $9.4 million or $0.12 loss per diluted share revealed in Q2 operating results, NerdWallet (Nasdaq: NRDS) will restructure and slash 15% of its workforce. Tim Chen, co-founder and CEO of NerdWallet, said they met their topline expectations of generating… Read More

 Tagged nerdwallet

August 8, 2024 @ 10:41 am By Omar Faridi  |  

JP Morgan Payments announced an expanded relationship with PopID to deploy in-store biometric payments to pilot merchants across the United States. The pay-by-face biometric payment solution “allows shoppers to complete transactions more seamlessly, removing the need for customers to pull out their phones or credit cards.”… Read More

 Tagged biometrics, jp morgan, payments, popid

August 8, 2024 @ 9:23 am By Omar Faridi  |  

Octane (Octane Lending, Inc.), the fintech enhancing the buying experience for major recreational purchases, announced that it has closed its Series E funding round with $50 million in new equity capital. Octane has raised $242 million “in total equity funding to date.” The capital will… Read More

 Tagged equity, fintech, funding, octane

August 8, 2024 @ 8:08 am By Omar Faridi  |  

CRB Group, Inc., the parent company of Cross River Bank, a technology infrastructure provider that offers embedded financial solutions, announced it has appointed three new members to its Board of Directors, effective July 1, 2024: Roland Fryer, Richard Laxer and Gabrielle Vitale. Gilles Gade, Founder,… Read More

 Tagged crb group, cross river bank, embedded finance, infrastructure

August 8, 2024 @ 8:01 am By Omar Faridi  |  

ThinCats, which aims to help the mid-sized business thrive, has secured £75 million mezzanine funding from CPP Investments. The facility is the latest line of funding “secured by ThinCats and reflects the credit quality of the UK mid-sized businesses ThinCats targets its lending.” CPP Investments’… Read More

 Tagged lending, thincats, uk, united kingdom

August 8, 2024 @ 6:37 am By Omar Faridi  |  

Ares Management Corporation (NYSE:ARES) announced that funds managed by its Credit Group closed “approximately $12.8 billion in U.S. direct lending commitments across 93 transactions during the second quarter of 2024 and approximately $38.3 billion in direct lending commitments across 295 transactions in the 12 months… Read More

 Tagged ares management, lending

August 8, 2024 @ 4:05 am By Omar Faridi  |  

Tech Mahindra (NSE: TECHM), a global provider of technology consulting and digital solutions to enterprises across industries, has announced a partnership with Finastra, a global provider of financial software applications and marketplaces, to help corporate banks accelerate their digital transformation journeys. Through the partnership, Tech… Read More

 Tagged digital transformation, finastra, tech mahindra

August 8, 2024 @ 12:05 am By Omar Faridi  |  

The Depository Trust & Clearing Corporation (DTCC), the post-trade market infrastructure for the global financial services industry, announced the launch of DTCC’s Insurance & Retirement Services’ (I&RS) Producer Authorization (PAR) service, “a standardized method for insurance vendors and distributors to communicate with carriers to verify… Read More

 Tagged dtcc, financial services, infrastructure, post-trade

August 7, 2024 @ 10:11 pm By Omar Faridi  |  

Setu, a Pine Labs company, in partnership with Axis Bank, launched UPISetu, India’s UPI-focused payments platform for businesses and developers. NPCI’s UPI has seen a rise in India “with Person-to-Merchant (P2M) transactions alone witnessing a phenomenal rise of 241% from 2.56 billion transactions in June… Read More

 Tagged axis bank, india, payments, setu, upi

August 7, 2024 @ 9:12 pm By Omar Faridi  |  

Australian digital bank, ubank, has introduced passkeys to improve authentication for customers. Ubank joins a growing number of international online services and payment providers, “along with Australian organizations and government agencies, using passkeys as their login method.” The change in authentication processes comes as Australians lost… Read More

 Tagged australia, banking, digital bank, fintech trends, ubank