FinTech Futures: Top five stories of the week – 25 August 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Artificial Intelligence/AI
ICYMI fintech funding round-up: Zanifu, Koverly, Micronotes & more
Our weekly fintech round-up for you to get the latest funding news from around the world.
Video: What’s the next big thing in fintech?
We ask three experts what they think could be the next big thing that will completely transform the industry.
Video: AI – friend or foe to financial services?
Fintech experts share their views on the impact of AI on financial services.
FinTech Founders Video: Anandhi Dhukaram, Esdha
Dr Anandhi Vivek Dhukaram PhD drops the advice she would give herself if she could go back to when she founded Esdha.
KPMG data shows steep drop in Canadian fintech funding in H1 2023
H1 2023 investment activity totalled $353.7m across 57 deals, down from $1.09 billion across 87 deals in H2 2022.
US fintech Ramp secures $300m Series D funding at reduced valuation
The firm’s new $5.8bn valuation represents a 28% drop from its $8.1bn valuation back in March 2022.
Colendi lands banking licence to become Turkey’s first digital deposit bank
As Turkey’s first digital bank, ColendiBank is aiming to reach 50 million customers regionally.
Velo Payments to acquire payment processing platform YapStone
The acquisition is subject to regulatory approvals and customary closing conditions.
Standard Chartered global head leaves to found fintech start-up
Manohar Chadalavada is leaving the bank to be the co-founder of a fintech start-up currently in stealth.
Unpacking the hype: Generative AI in banking and finance
FinTech Futures takes a deep dive into generative AI and how the tech is transforming financial services.
AI-powered conversational payments to launch on India’s UPI
The tech will enable users to converse with an AI system to initiate and complete transactions.
Video: The top trends to watch in fintech
Three seasoned investors discuss which fintech trends the industry should be keeping an eye on.
Innovation at the intersection of money, AI, identity and blockchain
AI is proving to be an existential threat to identity. So how is the world responding?
Video: What’s hot and what’s not in fintech
We ask three seasoned fintech investors what’s hot and what’s not in the fintech sector this year.
What the FinTech? | S.4 Episode 13 | AI simulation training in financial services
In this episode of the podcast, we’re joined by Casey Denby, VP of Sales at US tech firm Zenarate.
Paytech Matera acquires Brazilian AI firm Cinnecta for undisclosed sum
The acquisition will enable Matera’s clients to enhance their sales capabilities through actionable insights.
US climate tech start-up Persefoni secures $50m in Series C-1 funding round
The company has now raised more than $150 million to date.
Finland’s Basware makes offer to acquire Irish fintech Glantus for £17.8m
The transaction is subject to all necessary approvals, and is expected to be finalised in Q4 2023.
More than 25 US credit unions and community banks tap Eltropy for AI Chat offering
ACFCU and First Credit Union are among the company’s to deploy Eltropy’s AI tech.
ANZ invests in mule account detection solution to help fight fraud
ANZ says it conducted a successful pilot in April, identifying nearly 1,400 high-risk accounts.
ICYMI fintech funding round-up: Chargeflow, Knot, Treasure Financial & more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
FinTech Futures Jobs: These four things are what employees want this year
Explore thousands of open roles on the FinTech Futures Job Board today.
Digital dementia: have banks forgotten about their customers?
In the race to optimise cost and efficiency through technology, let’s not forget to ensure a human touch remains.
Indian fintech start-up Credgenics secures $50m Series B funding
The round was led by Westbridge Capital, Accel, Tanglin Ventures, Beams Fintech Fund and other strategic investors.
Microsoft partners Aptos Labs to help connect financial service companies to the Web3 ecosystem
The duo will explore new innovations in areas such as asset tokenisation, CBDCs and payment technology.
Naga integrates Rezolve AI into its social trading platform
The integration is also set to extend to Naga’s e-payments solution, Naga Pay.
Singapore’s Endowus raises $35m as it eyes regional expansion
The round saw participation from existing investors including UBS Next, EDBI and Prosus Ventures.
MarketAxess acquires Pragma to leverage quantitative trading technology
MarketAxess aims to accelerate the development of quantitative execution algorithms for fixed-income products.
Webinar | 28 September 2023: Revolutionising SME financing – how Banca AideXa uses AI decisioning platform & open banking
Learn what tools and tech enable Banca AideXa to provide quick and efficient loans to SMEs.
MAS pledges up to $112m towards tech and innovation in financial sector
The funding comes as part of a renewal of the Financial Sector Technology and Innovation Scheme (FSTI 3.0).
State of play: 2023 so far
What’s the current state of play for the financial services sector and what can we expect for the remainder of 2023?
Payoneer acquires AI-powered data platform Spott to streamline decision-making
Payoneer says the start-up’s tech will help it to “better understand and serve customers”.
FinTech Futures Jobs: Three ways AI is changing fintech jobs
Explore thousands of open roles on the FinTech Futures Job Board today.
The transformative impact of AI and its implications on the future workforce
The AI revolution is well and truly underway. But what does it mean for the future of workers?
Automotive lending platform GoFi taps Provenir for credit risk decisioning
The Texas-headquartered company has implemented Provenir’s Data and Decisioning Platform.
GoLogiq to acquire Vietnamese fintech Symplefy for $30m
GoLogiq’s executive chairman Brent Suen says the acquisition “is the next of several in our pipeline”.
Challenging funding environment pushes LedgerEdge into administration
David Robert Baxendale and Edward John Macnamara have been appointed as joint administrators.
Global fintech funding drops 17% to $52.4bn in first half of 2023
Fintech investment fell in EMEA and APAC, while the US took the lion’s share of global funding.
UK consumer lending start-up Koyo Loans closes down
All of Koyo’s existing loans have been transferred to Capquest for management.
