Tagged: banking

AI Conversational Chatbot Creator, Kasisto, Secures $15.5M via Series C led by Naples Technology Ventures, NCR Corporation

Kasisto, the developer of a conversational AI chatbot, has finalized a $15.5 million Series C round that has been co-led by new investors Naples Technology Vendors and NCR Corporation. Kasisto’s KAI digital experience platform is currently being used by major financial institutions such as JPMorgan,… Read More

UK’s Digital Bank Monzo Is Facing Potential Money Laundering Charges by FCA, Reports Annual Loss of £130 Million

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UK-based digital bank Monzo is currently facing a civil and criminal money-laundering investigation that is being carried out by the Financial Conduct Authority (FCA). Monzo‘s management disclosed these details in its annual report that was released on Friday (July 30, 2021). For the second straight… Read More

Banking, Fintech Report Highlights UK’s Fast-Growing Financial Tech Space, while Challenges Include Centralized Cloud Providers

Payments specialist Banking Circle notes in a recent update on the payments, banking and Fintech space that there have been record-level investments in the UK’s vibrant Fintech sector, with $5.7 billion of VC invested across 317 deals so far in 2021. Banking Circle‘s CIO, Michel… Read More

Global Fintech GoCardless Appoints Alexandra Chiaramonti as its GM for Southern Europe

GoCardless, a global Fintech in account-to-account payments, has reportedly appointed Alexandra Chiaramonti as its GM of Southern Europe. Chiaramonti will be responsible for leading GoCardless‘ ongoing growth in the region by continuing to recruit new talent in order to strengthen the firm’s presence in its… Read More

Fintech Sila, an API Platform Offering Payment Infrastructure as a Service, Acquires $13M via Series A led by Revolution Venture

Sila, an API platform that offers payment infrastructure as a service while ensuring regulatory compliance, has acquired $13 million in capital through a Series A round that was by Revolution Venture. Sila‘s latest investment round was joined by Madrona Venture Group, Oregon Venture Fund, Mucker… Read More

UK Digital Bank Starling Acquires Buy-to-Let Specialist Mortgage Lender, Fleet Mortgages

UK-based digital bank Starling has confirmed the acquisition of specialist buy-to-let mortgage lender Fleet Mortgages as part of a £50 million cash and share deal. Fleet Mortgages, based in Hampshire, focuses on offering mortgages to professional and semi-professional buy-to-let landlords, “only via mortgage adviser distribution… Read More

Digital Bank Zopa Is Reportedly Planning to Raise £100M at £500M+ Post-Money Valuation IPO, with JPMorgan Advising

Digital bank Zopa will be working with JPMorgan which will serve as an advisor on a £100 million funding round. This, according to a report from Sky News, which noted that investors who have been approached regarding the investment round have been considering a £500… Read More

Atom Bank Exec Explains How They’re Not Your Typical Bank, After Fintech Exceeds £3B in Residential Mortgage Lending

Earlier this month, the team at Atom Bank reported reaching a key milestone: £3 billion in residential mortgage lending. Hitting this number “represents an important step for our bank, and gives us a real sense of progress as we continue helping more to buy, move,… Read More

Hong Kong Monetary Authority Executive Director Reveals how They’re Protecting Consumers from Emerging Threats

In a keynote speech that focused on fraud and financial crime at a conference in Asia, Carmen Chu, Executive Director (Enforcement and AML), Hong Kong Monetary Authority, discussed anti-money laundering and financial crime risk issues and the ability of authorities to address these problems. While… Read More

Payments Fintech Banking Circle Chooses European Firm SIA to Provide Instant Payments

Banking Circle, the Payments Bank for the digital economy, has chosen SIA, an established European hi-tech firm in payment services and infrastructures, controlled by CDP Equity, in order to introduce its instant payments service in Europe “connecting to the TARGET Instant Payment Settlement (TIPS) service… Read More

Digital Transformation: 365.bank to Use Backbase Engagement Banking Platform and Mambu Cloud Bank Solutions

365.bank has announced that it will be leveraging Backbase’s Engagement Banking platform and Mambu’s Cloud-powered banking platform “to pivot to digital-first banking.” As mentioned in the announcement, 365.bank has chosen Engagement Banking tech provider Backbase in conjunction with Mambu, the SaaS banking platform, in order… Read More

Infosys Finacle and Santander UK Introduce Global Cash Management Solution as Part of Digital Transformation Strategy

Infosys Finacle, which is part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys (NSE, BSE, NYSE: INFY), and Santander UK, recently revealed that they’ve introduced  Santander UK’s global cash management platform as part of the institution’s digital transformation efforts. Santander Global Connect is a newly-developed… Read More

Challenger Banks to Add 435M Accounts By 2026: Report

A new report from ABI Research predicts neobanks and challenger banks will nearly quadruple their number of accounts over the next five years The top 57 neo and challenger banks should grow their accounts from the 2020s 155 million to 590.6 million by 2026 due… Read More

Revolut Adds Travel Feature Offering 10% Cash-back to Banking Platform

Revolut, a neo-bank currently serving over 16 million customers, has added a new travel feature, “Stays,” that it expects to provide £70 million to its customers in a 10% cashback scheme for UK and European customers. As the world attempt to turn the corner on… Read More

Cross-Border Payments Fintech Currencycloud Shares Insights on How Embedded Finance Is Streamlining Financial Services

As embedded finance continues to transform the financial services sector, Currencycloud questions how banks will shape that future. The cross-border payments Fintech notes that this is the question “on the minds of industry insiders — and with the rise of embedded finance, it’s never been… Read More

Philippines based BaaS Fintech Netbank Partners Alternative Lenders so their Platforms Can Expand Operations

Philippines-based Netbank has now partnered with several alternative lenders so that the lending platforms can expand their operations without having to acquire additional funding. Netbank, the first Southeast Asia-based banking as a service (BaaS) platform operating via a bank license, is reportedly working closely with… Read More

Switzerland’s B2B Banking Solution Provider InCore Bank Launches Comprehensive Crypto Service

Switzerland’s InCore Bank, the B2B banking solution provider, reveals that it has launched a comprehensive crypto-asset service. The securitization solution, called CRYSP, was developed with assistance from GenTwo Digital, a provider of innovative securitization platforms for crypto-assets. The solution enables fund managers, whether they’re from… Read More

Banking Software Firm Temenos Introduces Next-Gen Digital Banking with its Infinity Micro Apps

Temenos (SIX: TEMN), the banking software firm, brings to market the next-gen in virtual banking with Temenos Infinity Micro Apps. Temenos Infinity Micro Apps are now able to provide packaged business capabilities (PBC), for banking platforms to quickly develop customized digital customer experiences by adding… Read More

Big Money: Once Again, FT Partners Plays Key Role in Fintech Transaction Acting as Exclusive Advisor to Revolut Funding Round

Once again, leading Fintech investment bank FT Partners has played a key role in an outsized funding round in the Revolut transaction. As was reported earlier today, Revolut raised $800 million at a whopping $33 billion valuation. The funding was led by SoftBank – Tiger… Read More

LendingClub Kicks Off Brand Transition Away from Radius to LendingClub Bank

LendingClub (NYSE:LC), once the largest marketplace lender in the US and now an emerging digital bank, is transitioning away from the Radius Bank brand. As was previously reported, LendingClub acquired federally chartered Radius Bank with the deal closing around the beginning of this year. The… Read More

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