Catalyst Fund raises $15m from JPMorgan and UK Aid for emerging market fintechs

January 27, 2020 at 06:00AM Catalyst Fund, a Boston-based accelerator for early-stage technology start-ups, has raised $15 million with its long-term backer JP Morgan and UK Aid to back 30 fintech start-ups founded across South Africa, Kenya, Nigeria, India and Mexico over the next three years. The US and UK-backed accelerator offers mentorship and non-equity … Continue reading Catalyst Fund raises $15m from JPMorgan and UK Aid for emerging market fintechs

Video: Top fintech stories this week – 24 January 2020

January 25, 2020 at 08:00AM The FinTech Futures weekly round-up of the industry’s top stories and happenings from across the globe. This week we cover: Aussie neobanks challenge country’s big four banks Tokopedia lines up $1.5bn funding from Alibaba and Softbank Vodafone leaves Facebook’s Libra to focus on M-Pesa Amazon set to turn hands into cards with … Continue reading Video: Top fintech stories this week – 24 January 2020

Stuck-in-the-past Japanese banks wary of fintech revolution

January 23, 2020 at 05:00AM Japan’s effort to nudge its more than 100 struggling regional lenders into the digital age is floundering. More than a year after rules to spur open banking were issued, small lenders are stuck in a back-and-forth with startups over fees for access to client account data, according to a Financial … Continue reading Stuck-in-the-past Japanese banks wary of fintech revolution

Gig economy fintech SteadyPay raises £2.9m to tackle income volatility

January 23, 2020 at 06:00AM SteadyPay, the start-up helping gig economy workers and freelancers supplement their irregular incomes, has raised £2.9 million ($4 million) in equity and debt funding. The subscription-based app works by calculating a user’s average monthly pay. If pay dips below this average in a certain month, the fintech automatically advances them … Continue reading Gig economy fintech SteadyPay raises £2.9m to tackle income volatility

Toyota Financial’s New Zealand arm inks fintech partnership

January 23, 2020 at 05:01AM Toyota Finance New Zealand (TFNZ) has partnered with Ephesoft, an AI-powered data capturing platform, to help streamline and automate its loan-application processes, Ephesoft’s Founder and Chief Executive Ike Kavas told Auto Finance News. Ephesoft’s platform essentially “reads” PDF documents, pulls out necessary information and verifies it against existing databases, Kavas … Continue reading Toyota Financial’s New Zealand arm inks fintech partnership

ABA Joins Banks, State Associations as Investor in Fintech Venture Fund

January 22, 2020 at 09:34PM As part of an effort to accelerate financial-sector innovation and incubate fintech startups that are well-equipped to partner with banks, Canapi Ventures today announced $545 million in commitments for its two inaugural venture capital funds—including a passive investment from ABA. The post ABA Joins Banks, State Associations as Investor in … Continue reading ABA Joins Banks, State Associations as Investor in Fintech Venture Fund

Mastercard and Marqeta collaborate to help fintechs go to market

January 22, 2020 at 08:00AM Marqeta, a modern payments platform, is now a European certified processor with Mastercard. This new collaboration is designed to help digital banks and fintechs go to market and scale faster. Twisto, the daily payments app linked to a card, will be the first European customer to deploy Marqeta’s card processing … Continue reading Mastercard and Marqeta collaborate to help fintechs go to market

B2B fintech Biller Genie helps banks automate business payments

January 22, 2020 at 06:00AM Business payment startups and banks are rushing to offer clients the same kind of intuitive, automated payment experience that consumers have come to expect from their favorite personal finance apps.  While startups like Bento for Business, HighRadius and AvidXchange are working with businesses to solve expense management pain points, Miami-based startup Biller Genie … Continue reading B2B fintech Biller Genie helps banks automate business payments

ICAP founder to invest £25m in new fintech fund Element Ventures

January 21, 2020 at 06:00AM Michael Spencer, one of the City’s best-known entrepreneurs, has become the cornerstone investor for a new UK fintech fund that aims to raise up to £100m, according to The Financial Times. Spencer is to contribute at least £25m via his IPGL vehicle to a fund called Element Ventures, which will … Continue reading ICAP founder to invest £25m in new fintech fund Element Ventures

Banking licenses an opportunity to create fintech hub in Singapore

January 21, 2020 at 05:01AM Singapore is becoming a haven for e-commerce companies looking to get into banking in Asian markets. In 2019, the Monetary Authority of Singapore announced it would issue three digital wholesale bank licenses and two digital full bank licenses, challenging Singapore’s legacy financial institutions, CNBC reported. The regulator’s moves have created … Continue reading Banking licenses an opportunity to create fintech hub in Singapore

Basking in foreign fintech investment, India exercises its kingmaker role

January 20, 2020 at 05:01AM Last week, Indian regulators ordered an antitrust probe of Walmart and Amazon while Jeff Bezos and other Amazon execs traveled to New Delhi to tout a $1 billion investment to digitize local businesses. The message is U.S. investment is welcome, as long as U.S.-driven data mining is kept at bay. … Continue reading Basking in foreign fintech investment, India exercises its kingmaker role

Australian fintech Wisr raises $33.5m for P2P lending marketplace

January 19, 2020 at 10:00AM Wisr, an Australian peer-to-peer (P2P) lending marketplace, has raised $35 million through a placement of around 181 million ordinary shares. The issue price for the placement is 18.5 cents per share. New and existing “high quality” institutional investors took part in the round according to The Market Herald. The Wisr … Continue reading Australian fintech Wisr raises $33.5m for P2P lending marketplace

Australian fintech Wisr raises $33.5m for P2P lending marketplace

January 19, 2020 at 10:00AM Wisr, an Australian peer-to-peer (P2P) lending marketplace, has raised $35 million through a placement of around 181 million ordinary shares. The issue price for the placement is 18.5 cents per share. New and existing “high quality” institutional investors took part in the round according to The Market Herald. The Wisr … Continue reading Australian fintech Wisr raises $33.5m for P2P lending marketplace

Weekly Wrap: Visa acquires Plaid and retailers embrace fintech

January 17, 2020 at 02:56PM Welcome to the latest episode of our Weekly Wrap video series, for the week ending Friday, January 17, 2019. In this episode, editors discuss the following news developments: The overlap of retail with financial services, and reflections on the National Retail Federation annual conference in New York; Visa’s acquisition of … Continue reading Weekly Wrap: Visa acquires Plaid and retailers embrace fintech

Weekly Wrap: Visa acquires Plaid and retailers embrace fintech

January 17, 2020 at 02:56PM Welcome to the latest episode of our Weekly Wrap video series, for the week ending Friday, January 17, 2019. In this episode, editors discuss the following news developments: The overlap of retail with financial services, and reflections on the National Retail Federation annual conference in New York; Visa’s acquisition of … Continue reading Weekly Wrap: Visa acquires Plaid and retailers embrace fintech

Video: Top fintech stories this week – 17 January 2020

January 17, 2020 at 03:01PM The FinTech Futures weekly round-up of the industry’s top stories and happenings from across the globe. This week we cover: Revolut valued at $5bn by investors ahead of new fundraising Chinese regulators planning digital banking go-ahead India’s ICICI Bank launches portal with around 250 APIs for fintech devs Goldman Sachs quietly releases … Continue reading Video: Top fintech stories this week – 17 January 2020

Capital markets fintech iStox raises $5m in South Korea

January 17, 2020 at 01:30PM South Korean capital markets firm iStox has raised $5 million from Hanwha Asset Management. iStox uses blockchain to try and revamp investing iStox claims to be the first regulated capital markets platform in any major financial centre to support the one-stop issuance, custody and trading of digitized securities. The firm … Continue reading Capital markets fintech iStox raises $5m in South Korea

Fintech Autenti lands $4.48m from three major Polish banks

January 17, 2020 at 10:13AM Autenti, the Polish start-up trying to create a national standard for digital signatures, has raised $4.48 million in investments from three banks which collectively make up 30% of Poland’s assets: Alior Bank, BNP Paribas and PKO Bank Polski. This deal, which also saw venture capital firms Innovation Nest and Black … Continue reading Fintech Autenti lands $4.48m from three major Polish banks

Visa invests in data security start-up VGS to boost fintech innovation

January 17, 2020 at 06:30AM Visa has announced its investment in Very Good Security (VGS), a platform which allows companies to collect, protect and exchange sensitive data. The card giant says it wants to help speed up fintech innovation and advance the development of data security services. The size of the investment has not been … Continue reading Visa invests in data security start-up VGS to boost fintech innovation

How Citi Ventures builds internal fintech startups

January 17, 2020 at 06:15AM Citi Ventures, Citibank’s corporate venture arm, is building startups within the company to incubate new product ideas. D10X, which stands for “Discover 10 Times,” is Citi Ventures’ internal lab to build new solutions for Citi customers. In this bonus episode of “Fintech Unfiltered,” Executive Editor at Bank Innovation and CEO … Continue reading How Citi Ventures builds internal fintech startups

ICICI Bank launches portal with around 250 APIs for fintech devs

January 16, 2020 at 06:30AM ICICI Bank, India’s second largest bank by assets, has launched a portal with roughly 250 application programme interfaces (APIs) to help third party developers connect with the bank and create new fintech solutions. The API portal is available only to “prospective partner companies”, and is said to be the biggest … Continue reading ICICI Bank launches portal with around 250 APIs for fintech devs

German fintech Raisin acquires Choice Financial as it prepares for US launch

January 15, 2020 at 01:00PM German savings and investment platform Raisin has acquired Madrid-based Choice Financial Solutions in an effort to integrate with U.S.-based financial providers. Terms of the deal were not disclosed. Berlin-based Raisin aims to offer U.S. customers a marketplace approach to savings account products through partnerships with financial institutions, a model it’s … Continue reading German fintech Raisin acquires Choice Financial as it prepares for US launch

BMO’s Ben Schack on what’s next for bank-fintech collaborations

January 15, 2020 at 06:00AM BMO Harris partners with fintech  startups through the BMO Harris Bank 1871 Innnovation Program. The bank usually works with five to seven firms each year and announced its third cohort of startups last October. Some of the companies BMO Harris has worked with in the past include Blend, a software … Continue reading BMO’s Ben Schack on what’s next for bank-fintech collaborations

With Plaid, Visa embeds itself deeper into the fintech ecosystem

January 14, 2020 at 06:31PM Visa‘s $5.3 billion acquisition of data aggregator Plaid puts the company’s tool set at the center of financial services innovation. The move embeds Visa deeper into the payments infrastructure, allowing it to expand its footprint and diversify its product and service offerings. “Fintechs are increasingly developing on bundling and repackaging … Continue reading With Plaid, Visa embeds itself deeper into the fintech ecosystem

With Plaid, Visa embeds itself deeper into the fintech ecosystem

January 14, 2020 at 06:31PM Visa‘s $5.3 billion acquisition of data aggregator Plaid puts the company’s tool set at the center of financial services innovation. The move embeds Visa itself deeper into the payments infrastructure, allowing it to expand its footprint and diversify its product and service offerings. “Fintechs are increasingly developing on bundling and … Continue reading With Plaid, Visa embeds itself deeper into the fintech ecosystem

Visa to buy fintech start-up Plaid for $5.3bn

January 14, 2020 at 10:42AM Visa has announced the acquisition of fintech firm Plaid for $5.3 billion. Plaid, which calls itself the “plumbing” behind fintech, provides the application programme interfaces (APIs) which connect users’ bank accounts with third party providers (TPPs) such as Venmo, Square Cash and Robinhood. The size of the deal is roughly … Continue reading Visa to buy fintech start-up Plaid for $5.3bn

Video: Top fintech stories this week – 11 January 2020

January 11, 2020 at 05:06PM The FinTech Futures weekly round-up of the industry’s top stories and happenings from across the globe. This week we cover: Tandem Bank to charge customers monthly membership fee Singapore’s digital bank licence race heats up with 21 bidders Canada’s major banks impersonated in two-year phishing campaign Starling Bank eyes 2022 IPO and … Continue reading Video: Top fintech stories this week – 11 January 2020

UK SMEs chasing £5bn in late payments, fintech opportunity ripe

January 10, 2020 at 08:30AM UK small and medium-sized enterprises (SMEs) are reportedly chasing a combined £50 billion in late payments, City AM reports. In research by digital banking for businesses platform Tide, it was revealed SMEs are on average chasing five outstanding invoices at any one time which is eating into an hour and … Continue reading UK SMEs chasing £5bn in late payments, fintech opportunity ripe