Video: Inscribe at Money20/20 USA – Automating KYC/KYB and underwriting processes
We chat with Inscribe’s Ronan Burke about the benefits of KYC/KYB and underwriting automation.
Lending
MeridianLink acquires mortgage software solutions provider OpenClose
MeridianLink says the deal will enable their customers “to deliver fast, frictionless mortgage lending experiences”.
Ampla Technologies acquires B2B BNPL firm Upside Financing
Ampla says the acquisition will open up a B2B BNPL market that is worth an estimated $1 trillion.
US real estate platform Prevu buys mortgage tech from shuttered Reali
With the acquisition, Prevu aims to expand its digital buying platform to include mortgage services.
US lender Dwight Funding bags $100m credit facility
The facility will support Dwight Funding’s growth and allow it to invest further in its proprietary technology.
Zest AI lands more than $50m in growth funding round
With the new cash, Zest AI plans on increasing access to its AI-automated credit underwriting service.
US lender Upstart cuts 140 jobs as loan demand drops
Upstart says it is “making this difficult decision for the long-term health of the company”.
Credit Karma pauses “almost all new hiring” citing revenue challenges
The firm has made the decision “due to the uncertainty of the macroeconomic environment”.
Cartoon: Slow cooking
This new cartoon illustrates how start-ups shifting to venture debt as a model to raise cash are storing up trouble.
Women in fintech drive the lending industry’s digital transformation
As banking goes increasingly digital, many women fintech leaders are in the vanguard of this evolution.
Ashman selects nCino to power its real estate lending solution
The UK challenger will deploy nCino’s cloud-based Bank Operating System.
SMB lender Kapitus taps Mambu for its cloud banking platform
The firm will leverage Mambu’s low-code lending engine to power new financing products.
ICYMI fintech funding round-up: Ordo, Plum, Maplerad and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
US fintech Achieve bags $225m debt facility
The facility has been provided by O’Connor Capital Solutions and a “multi-trillion-dollar asset manager”.
Capital on Tap secures £100m credit facility to support SMEs
The facility will be used to build out a central finance hub for small business owners in the UK and US.
What the FinTech? | S.3 Episode 15 | Unleashing the potential of half the planet
In this episode of the podcast, we’re joined by Women’s World Banking CEO and president Mary Ellen Iskenderian.
US fintech funding round-up: OatFi, Fintor and StandardC
A handy round-up of the recent funding endeavours of fintech companies across the US.
Sibos 2022: How HSBC wants to power the Web3 economy
“We want to be the ecosystem platform provider to power up the Web3 economy,” says HSBC’s Catherine Zhou.
HSBC turns to Trade Ledger for digital receivables finance capability
HSBC’s approval process for new receivables finance (RF) customers went from two months to two days.
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.
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.
