Getting banked: financial services and the US cannabis industry
We chat with Michael Beird of Infused Banking about how banking is changing for US cannabis businesses.
Partnerships
Investec taps Surecomp for its digital trade finance tech
Surecomp’s tech will support Investec’s newly formed trade finance business.
Deutsche Bank partners Nvidia to advance the use of AI in financial services
The two firms aim to develop applications that will improve risk management and boost efficiency.
Intuit snaps up credit building start-up SeedFi
The deal will see SeedFi become part of Intuit’s Credit Karma business.
Veritex Community Bank taps Finzly to transform payments
The Texas-based bank will utilise Finzly’s Payments Hub solution.
US fintech Teampay secures $47m in Series B funding
The fresh funding brings Teampay’s total capital raised to $65 million.
Fintechs Canada launches to drive innovation in the country’s fintech sector
The not-for-profit association is looking to work with policymakers in a “whole-of-government” approach.
Ohio’s Huntington National Bank teams up with InvestCloud to launch Advisor Connect solution
The new offering is built on InvestCloud’s Find My Advisor technology.
Freedom Bank of Virginia partners Autobooks for new digital invoicing solution
The bank’s business clients can now generate professional invoices with an integrated ‘pay now’ button.
Featurespace bags funding from US, UK govs to build new financial crime detection solution
Featurespace is developing an AI-powered system to help banks and PSPs detect financial crime.
Santander UK picks NCR to run its self-service ATM network
NCR will upgrade, connect and run Santander UK’s network of more than 1,700 ATMs.
HDFC Bank taps Flywire for digital educational payments experience
The integration will provide a fully digital checkout experience for Indian students to make transactions.
US banking sector launches digital asset settlement proof of concept
US banking heavyweights will explore the feasibility of a DLT-powered interoperable digital money platform.
Japanese paytech unicorn Opn acquires US firm MerchantE
Both firms will share technology and best practices, as well as jointly develop new products and services.
JP Morgan and Mastercard team up to launch Pay-by-Bank solution
The solution is currently in the pilot stage with a rollout expected sometime in 2023.
FinTech Futures: Top five stories of the week – 11 November 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Binance nixes mooted FTX acquisition deal
In a tweet, Binance says “we have decided that we will not pursue the potential acquisition of FTX.com”.
TIAA agrees to sell its banking arm to suite of investors
The firm says the move will allow it to “refocus” on its retirement business.
Goldman, MSCI, Coin Metrics partner for digital asset taxonomy framework
Datonomy is a standardised way to help market participants view and analyse the digital assets ecosystem.
FinTech Futures: Top five stories of the week – 4 November 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Huntington National Bank selects LiquidX for trade finance infrastructure
Huntington Bank says LiquidX was the “most efficient and effective” partner to help expand its trade offering.
DBS and digitalisation: what the West can learn from the East
“Meaningful innovation is the true litmus test,” says DBS’ Shee Tse Koon.
MoneyGram expands Coinme partnership, launches in-app crypto service
Users across nearly all US states can now trade and store BTC, ETH and LTC in the MoneyGram app.
Blockchain.com partners Visa and Marqeta to launch crypto debit card
The card is available to US residents and will be rolled out to customers in additional countries starting in 2023.
Paytech Form3 lands €23m venture debt facility from Atempo Growth
The funding will enable Form3 to explore potential M&A opportunities and launch in new markets.
Swift appoints Max Mamondez as chief financial officer
Mamondez, who joins from the London Stock Exchange Group, will serve on Swift’s executive committee.
The Maries County Bank taps Jack Henry for digital transformation
Through the partnership, the bank aims to automate processes and boost efficiency and customer service.
The innovation failure
Understanding why innovation fails helps us innovate in a way to minimise the risk of failure.
Banking Technology Magazine November 2022 issue out now
Cover story: TAKING THE LEAD – Women are inspiring fintech teams.
Ashman selects nCino to power its real estate lending solution
The UK challenger will deploy nCino’s cloud-based Bank Operating System.
CloudPay secures $50m to support development of payroll offering
The firm boasts “high double-digit growth” year-on-year and is projecting revenue growth of around 40% for 2022.
Financial super-app Curve partners Salt Edge for open banking compliance
The partnership will enable the app’s 4m users across Europe to continue to make the most of open banking.
US challenger Zenus picks Finxact to power its “global banking platform”
Finxact will join Microsoft and HSO, a business network and cloud consultancy, in delivering the platform.
Danish investment bank Saxo taps Baffle for global data encryption solution
The bank will integrate Baffle’s Data Protection Services platform.
Africa’s Cellulant partners Mastercard for online e-commerce payments
Cellulant’s customers can now pay online wherever Mastercard is accepted via the Tingg wallet.
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.
Open API maturity is slowing due to a lack of industry standardisation
Common business standards are required to enable interoperability of APIs across the financial services sector.
Diebold Nixdorf partners Featurespace for real-time fraud prevention tech
Diebold Nixdorf will integrate Featurespace’s ARIC Risk Hub into its Vynamic Payments platform.
Wells Fargo partners Google Cloud for AI virtual assistant, Fargo
Fargo will leverage Google Cloud’s conversational AI platform Dialogflow to offer personalised banking tips.
Delta National Bank & Trust taps Finastra for digital banking infrastructure upgrade
The firm will utilise Finastra’s Fusion Essence and Fusion Payments To Go solutions.
