Tagged: financial services

March 3, 2023 @ 7:44 am By Omar Faridi  |  

InvestCloud, the global player focused on digital transformation for the financial industry with over $6 trillion in assets, has announced the release of the next evolution of InvestCloud White, called InvestCloud White FMB+. The new product offering “includes integrated front, middle and back-office InvestCloud solutions,… Read More

March 2, 2023 @ 10:55 pm By Omar Faridi  |  

Open finance platform Brankas has announced a new feature enabling instant bank account opening as an “embedded finance” experience on third-party applications. The API is the “first” of its kind in the region, “launched first in Indonesia and the Philippines.” As a bundle with Brankas’… Read More

March 2, 2023 @ 4:33 pm By Omar Faridi  |  

We recently caught up with Sarah Howell, SVP of Partner Programs at Infinant, a financial technology company that provides pioneering infrastructure to help banks build embeddable financial products above their legacy banking technology. Sarah Howell shared her insights on the origins of the ecosystem strategy,… Read More

March 2, 2023 @ 3:32 pm By Omar Faridi  |  

Wealthfront, a robo-advisor for young professionals, launched the ability to buy individual stocks and fractional shares with zero commissions. Starting today, investors can open a Wealthfront Stock Investing Account with just $1 and access curated stock collections designed “to help clients discover new investment opportunities.”… Read More

March 2, 2023 @ 7:59 am By Omar Faridi  |  

Wise (LSE:WISE), the global technology company building the best way to move and manage money is rolling out a new look and feel. This comes as the company announced that it has “reached 16 million customers served worldwide, and revealed plans for further global expansion.”… Read More

March 1, 2023 @ 11:24 am By Omar Faridi  |  

Thought Machine, the cloud-native banking technology company, announces the next phase of its expansion plans, in which it will increase its global headcount by more than 20% in 2023, which includes hiring in India, Japan and other world regions for the first time. The company… Read More

February 28, 2023 @ 10:33 pm By Omar Faridi  |  

Cashfree Payments, India’s payments and API banking company, announced its strategic acquisition of Zecpe, a one-click checkout company. Zecpe enables e-commerce businesses “to improve checkout conversion by making the process quick and seamless for customers.” Zecpe will now “operate as a wholly-owned subsidiary of Cashfree… Read More

February 28, 2023 @ 8:15 pm By Omar Faridi  |  

Maybank, Southeast Asia’s fourth largest bank by assets, reported “a net profit of RM8.23 billion for the financial year ended 31 December 2022 (FY22).” Profit before tax (PBT) meanwhile, “was 11.6% higher at RM12.15 billion from RM10.89 billion a year earlier.” The better results were… Read More

February 28, 2023 @ 9:16 am By Omar Faridi  |  

Rally Commerce, the headless, one-click checkout solution for digital merchants, announces a partnership with Swell in order “to give merchants better control over their business and deliver a seamless checkout experience for customers.” Swell’s infrastructure “coupled with Rally’s checkout empowers small merchants to scale their… Read More

February 28, 2023 @ 8:03 am By Omar Faridi  |  

Pagos, a payment intelligence company that empowers businesses to optimize their digital payment infrastructure and maximize revenue, lower payments costs, and reduce fraud,  announced an oversubscribed $34 million Series A investment led by Arbor Ventures, a global fintech-focused venture firm. Additional participating investors “include Point… Read More

February 27, 2023 @ 10:31 pm By Omar Faridi  |  

Western Union (NYSE:WU)  and Beforepay (ASX: B4P) announced a first-of-its-kind collaboration, allowing consumers “to boost their cross-border money transfers by accessing reliable, ethical and affordable short-term lending.” Consumers can ‘Send Now, Pay Later’ by “borrowing up to AUD 2000 through Beforepay’s wage-advance product on Western… Read More

February 27, 2023 @ 10:25 pm By Omar Faridi  |  

Klarna, the global firm focused on the generational shift away from credit cards, announced strong momentum in the US, “with a 71% YoY increase in GMV, while improving credit loss rates by 37%.” Now with 34 million consumers in the US, the market has “become… Read More

February 27, 2023 @ 11:50 am By Omar Faridi  |  

TransferMate have announced the launch of ‘TransferMate Connect’, an integrated payments solution for banks and financial institutions “to deliver faster and more cost-effective payments products and services for their customers.” TransferMate claims it has “built the largest non-bank payments infrastructure in the world, covering more… Read More

February 26, 2023 @ 4:43 pm By Omar Faridi  |  

The Saudi Central Bank (SAMA) announced the licensing of Mani, a finance debt collection company to provide debt collection service for finance institutions. The license was granted to the company after completing all requirements stipulated in the “Rules of Licensing Finance Support Activities” issued by… Read More

February 26, 2023 @ 4:32 pm By Omar Faridi  |  

Stripe, a financial infrastructure platform for businesses, announced the expansion of its network tokens and card account updater in partnership with Visa, Mastercard, and American Express. Together, these features “help businesses protect revenue, increase authorization rates, and reduce the churn that occurs when customers’ credit… Read More

February 25, 2023 @ 10:11 am By Omar Faridi  |  

UK car finance fintech Carmoola has raised a £8.5 million Series A round and £95 million debt facility to improve “the way people pay for car purchases.” The investment round was “led by US-based fintech specialists QED Investors, with participation from existing investors VentureFriends and… Read More

February 24, 2023 @ 3:47 pm By Omar Faridi  |  

Wells Fargo & Company (NYSE: WFC) announces the launch of LifeSync, a personalized digital approach to aligning clients’ goals with their money. LifeSync, in the Wells Fargo Mobile® app, will be “available at the end of March to Wealth & Investment Management (WIM) clients.” Delivering… Read More

February 24, 2023 @ 12:22 pm By Omar Faridi  |  

NatWest and NAB have published a jointly authored white paper “exploring the common threads that bind both Australia’s Consumer Data Right (CDR) and the UK’s Open Banking regime.” The agenda-setting whitepaper “highlights the similarities in the policies that underpin both regimes: to increase competition, innovation… Read More

February 24, 2023 @ 9:13 am By Omar Faridi  |  

Block, Inc. (NYSE: SQ) has posted its results for the fourth quarter and full year of 2022. The Fintech reports that total net revenue was $4.65 billion in the fourth quarter of 2022, up 14% year over year. Excluding Bitcoin revenue, revenue in the fourth… Read More

February 24, 2023 @ 9:02 am By Omar Faridi  |  

Funding Circle (LSE:FCH) has announced a partnership with Sage, a firm focused on accounting, financial, HR, and payroll technology for small and mid-sized businesses (SMBs). The collaboration “makes it simpler for small businesses to secure funding.” With the incorporation of Sage Accounting and Funding Circle’s… Read More