Sibos 2022: Breaking new ground – banking in the metaverse
“If you’re going to be in the metaverse, it starts with a purpose,” Accenture’s Michael Abbott explains.
Lending
Sibos 2022: Food, shelter, water – what does banking have to do with it?
Banks can play a crucial role in lifting people out of poverty.
Finalists announced for Banking Tech Awards 2022
Congratulations to the 2022 finalists!
Merck commits $20m to CNote to support underserved communities in the US
The money will go to underserved communities in regions where Merck currently operates.
Funding Circle forms lending partnership with Bayview Asset Management
The partnership aims to support “thousands” of UK small and medium-sized enterprises (SMEs).
SME financing platform Rapid Finance acquires lendtech firm Thrive
Rapid Finance says Thrive “represents a significant addition” to the company.
Automated debt payment platform Tally bags $80m Series D
The round was led by Sway Ventures with participation from Menora Mivtachim, an Israeli insurance firm.
CFPB sues digital lender MoneyLion for allegedly overcharging customers
CFPB alleges MoneyLion has imposed “illegal and excessive” charges on service members and their dependents.
Video: QuickFi at FinovateFall 2022 – The evolution of business equipment financing
We chat with QuickFi’s Bill Verhelle about the firm’s new tech developments and growth plans.
Klarna cuts more jobs just months after laying off 10% of global workforce
The BNPL giant is planning more cuts after laying off approximately 700 staff back in May.
FinTech Futures: Top five stories of the week – 23 September 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
“Care now, pay later”: medical care fintech Scratch raises $35m Series C
Scratch offers a payment model to help patients cover the cost of medical care.
Nymbus and Citizens Bank of Edmond to launch niche bank for US military
The product will offer financial services designed to meet the needs of newly enlisted members of the military.
US consumer finance regulator to outline credit card-like BNPL protections
The CFPB will set out guidance to hem BNPL firms much closer to credit cards in terms of regulation.
Fintech platform for freight and logistics, Denim, closes $126m Series B
Denim automates invoicing, collections and payments, claiming to reduce daily payments and collections tasks by 75%.
New fintech platform Ratio emerges from stealth raising $411m
The start-up has raised $11 million in venture funding and $400 million in a credit facility.
US fintech Kafene lands $18m in Series B funding
The new funding will be used to increase Kafene’s employee headcount and onboard more merchants onto its platform.
FTC orders Credit Karma to pay $3m for “misleading” consumers
Credit Karma says it disagrees with the FTC’s allegations but that it has reached an agreement.
FinTech Futures: Top five stories of the week – 9 September 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Fintech and its impact on the agricultural sector
Fintech can help connect farmers with finance and boost financial inclusion.
Japan’s SMBC Group to launch Jenius Bank in the US
Jenius Bank will initially offer personal loans before expanding with savings and checking products.
Himalaya Exchange CEO Jesse Brown on weathering the crypto winter
FinTech Futures speaks with Himalaya Exchange CEO Jesse Brown about the future of crypto.
How mortgage lenders can unlock data and help bridge the housing gap
A borrower’s credit score is now one of their largest barriers to securing a home loan.
US real estate fintech Reali to close down
The firm will be laying off most of its workforce on 9 September 2022.
MVB Financial set to acquire Integrated Financial Holdings for $98m
MVB Financial is aiming to grow its government guaranteed lending business.
Covalto to become Mexico’s first US-listed fintech following SPAC merger
The deal values Covalto at $547 million and will see the firm listed on the Nasdaq exchange.
Underwriting with alternative and cash flow data
Use of non-bureau, “alternative’’ credit data can help better understand the risk of a consumer.
FinTech Futures Jobs: Here’s how to position yourself as a leader at work
Explore thousands of open roles on the FinTech Futures Job Board today.
Fintech start-up Arc lands $20m in Series A funding
Arc will use the funding to accelerate its growth and expand the availability of its treasury and software products.
Lendflow partners Ocrolus to streamline credit decisioning
Ocrolus’ document automation technology will help Lendflow better analyse more data.
Founderpath bags $145m to fund bootstrapped SaaS ventures
Founder Nathan Latka says the firm has deployed over $50m in capital over the last 12 months.
State of play: BNPL
BNPL has become one of the most divisive credit products of the modern age.
BaaS start-up Unit partners Thread to offer embedded banking services
Unit says the collaboration with Thread will “empower more companies to offer unique banking solutions”.
Growth capital fund Upper90 raises $180m to fuel fintech start-ups
The firm’s investment model combines credit and equity for fintech businesses that have predictable revenue.
Income verification platform Truework lands $50m Series C funding
Truework says the funds will support its product development and hiring plans.
CFPB investigating Goldman Sachs over credit card practices
Goldman Sachs says it is cooperating with the regulatory body.
B2B paytech Plastiq to list publicly following SPAC merger
The new entity, set to be worth $480 million, will continue to be headed up by CEO Eliot Buchanan.
Growth capital firm Clearco cuts 125 jobs citing “significant” economic headwinds
Clearco founders cite rising interest rates, high inflation and e-commerce growth slowdown as factors.
ICYMI fintech funding round-up: Wombat, Atlantic Money, Fairbanc and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Don’t let the doom and gloom clip your fintech’s wings
The key to managing this downturn is to focus entirely on your own circumstances.
