Sibos 2023: BMO taps DailyPay to offer earned wage access to commercial clients
The news was announced at the Sibos conference, which is being held in Toronto, Canada, this year.
The news was announced at the Sibos conference, which is being held in Toronto, Canada, this year.
Our weekly fintech round-up for you to get the latest funding news from around the world.
Audax has been designed to help banks and financial institutions accelerate their digital transformation.
The financing will be used to redeem existing debt, expand lending operations and accelerate Fleximize’s growth.
Jon Daplyn joins as chief information officer and Hari Godbole as vice president of engineering.
The UK banking giant has also announced the launch of HSBC TradePay, a document-free digital trade finance solution.
Through the partnership, both firms aim to provide their customers with “more choice” when sending money globally.
RevTags, already available to Revolut’s retail customers, is now being rolled out to its business customers globally.
The new facility will help ThinCats support lending of up to £696 million to mid-sized businesses in the UK.
Along with the funding, Flex has also launched its finance app catering to underserved small business owners.
Additionally, the company has also launched a “fully localised” solution catering to the European market.
Gusto says its solution allows Chase’s payroll processing to become “significantly simplified”.
By leveraging Backbase’s platform, Judo Bank aims to “create new digital experiences” for its customers.
The funding came from Kedaara Capital, and existing backers Warburg Pincus and Bessemer Venture Partners.
The deal marks another step in Finbots.AI’s push to scale across APAC.
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Based in Signicat’s Rotterdam office, van der Bogaard will lead a team of more than 35 people.
The money will be spent on the development of Treasury4’s Entity4 and Cash4 solutions and also partnerships.
The round was led by Fin Capital and Vertex Ventures Southeast Asia and India.
Xero announced its plan to exit the start-up earlier this year after initially acquiring it in 2020.
Wayflyer plans to deploy the capital to its 3,000 global e-commerce clients.
The strategic equity investment was made through Emirates NBD’s Innovation Fund.
The bank is seeking to align with the UK’s incoming New Payments Architecture and new ISO 20022 standards.
The partnership is set to enable Wamo to broaden its business account services in the UK and EU.
With the fresh investment, ThetaRay plans on expediting its international expansion “across continents”.
JP Morgan Payments says the partnership will complement its existing capabilities in the region.
Altalix was one of the first cryptoasset firms to be registered with the UK’s Financial Conduct Authority (FCA).
FundBank will automate its custody and portfolio management operations with Profile’s Axia Custody solution.
Molez previously served as head of data and AI strategy for Société Générale from 2019 to 2023.
Open banking payments increased 9.3% between June and July this year.
The solution seeks to help small business owners avoid making a “large upfront investment”.
The Economic Crime and Corporate Transparency Bill could revolutionise how the UK fights financial crime.
The US bank first bought a stake in C6 in June 2021.
MoonPay Ventures will focus on early-stage fintechs and Web3-focused start-ups.
PandaDoc clients can now “manage, collect and report on invoices alongside their contracts, all in one location”.
Lighter Capital is aiming to fund “hundreds” of early-stage technology companies.
US Army Reserves veteran Gantt-Evans will lead the firm’s global corporate and product security strategies.
Broadridge claims the platform will provide better customer experience and cost management for the bank.
BMO is the first global Mastercard issuer to offer contactless virtual cards through Extend.
The acquisition is subject to regulatory approvals.