US unicorn AvidXchange lands $128m
The fintech is already backed by PayPal co-founder Peter Thiel and Mastercard.
North America
Information Builders & Sound Credit Union collaborate on reporting package for COVID-19
IBI’s self-service analytics are designed exclusively for credit unions.
Webinar: Swift gpi is a chance for payments modernisation
Opportunities beyond meeting the minimum exist for banks embracing gpi.
Monzo applies for US banking licence
Monzo applied to the US OCC for the licence on Monday.
Will America’s second round of PPP avoid mistakes of the first?
Roughly 80% of PPP applicants are still waiting on loans, says NFIB.
SoFi acquires Hong Kong stock trading app 8 Securities
“Hong Kong, a financial capital of Asia, is ripe for innovation,” says SoFi’s CEO.
Three US credit unions pick Bankjoy for mobile and online banking
The three institutions hold a combined $280 million.
Webinar: Getting reconciliation right in the ‘decade of data’
A blueprint for consolidating, automating and driving efficiency across reconciliation.
Fenergo and IBM sign OEM agreement
Both firms will collaborate on the creation of financial crime solutions.
Looking beyond the coronavirus trading boom
Some trading apps see their future in the saving market.
Google plans debit card launch in the US
Google is preparing to launch an Apple Card rival soon.
World Fintech Report 2020: “Traditional banks are at a critical juncture”
“They must embrace Open X or risk becoming irrelevant,” says John Berry, CEO of Efma.
Curve bags former PSR CEO as advisor on regulation strategy
Nixon managed the PSR for five years until last year.
Explained: Protecting your ideas
Does your fintech need a patent? Does your invention need protection, or will you need something else?
DCI nabs Vetter tech suite from AFT Analytics
DCI continues an acquisitive streak focused on strategic growth.
Varo Money takes on Moven’s consumer accounts
Accounts with Moven will shut on 30 April 2020.
The rise of P2P FX
P2P initiatives aimed at helping corporates transact more efficiently will continue to gain traction.
Stripe bags $600m in fresh funding to hit $36bn valuation
Stripe recently added Zoom as one of its main customer.
Swift cancels Sibos amid COVID-19 crisis
Delegates that had signed up to attend will be offered a full refund.
Robinhood is raising fresh capital at an $8bn valuation
It apparently made $60 million in March – triple what it made in March 2019.
KyckGlobal signs US push payments partnership with Visa
Firms hope new deal will unlick real-time payments for “countless industries”.
Mastercard’s Ethoca teams up with Microsoft to offer digital receipts
The Canadian firm has an ongoing partnership with Microsoft.
Identity verification platform Onfido bags $100m from TPG
The start-up wants to create an alternative “identity verification” layer for the internet
Kyckr extends Citigroup regulatory compliance deal
“There is no better referral than within an existing organisation,” says CEO.
CaixaBank and Global Payments create prepaid card under MoneyToPay brand
Global Payment’s Netspend president Kelley Knutson will head up the venture.
Four US credit unions pick Bankjoy for online banking
Four credit unions holding combined $724m in assets select Bankjoy’s systems.
OakNorth bags Modern Bank as second US customer
Modern Bank is a delegated lender under the CARES Act.
Square, PayPal and Intuit QuickBooks approved to hand out SBA loans
“This is a race to save jobs in the present and for the future,” says PayPal.
Sizing up the financially underserved market
There may be an even bigger opportunity for innovators to provide higher-quality financial products.
2020 Review: Top 10 core banking go-lives this quarter
Looking back at some of the most interesting core-banking go-lives this quarter.
2020 Review: Top 10 funding rounds this quarter
A look back at some of the biggest investments this past quarter.
Trump’s COVID-19 stimulus plan needs to swap checks for digital dollars
The potential for a CBDC to make such disbursements more efficient and effective is multi-faceted.
Top 10 coronavirus initiatives by governments and regulators
A brief overview of how governments and financial regulators have reacted to coronavirus.
Chime pilots instant $1,200 stimulus check payments
The US government plans to distribute stimulus checks from 13 April.
US Federal Reserve pours $2.3 trillion into financing economy
“This funding will assist households and employers of all sizes,” says the Fed.
Cultivate investor platform aims for Silicon Valley in Europe
The new platform founded has been created by venture firm Blossom Capital.
Visa pours $210m into the coronavirus effort to help SMEs
Visa will split the money between NGOs and investment partners.
US-based Customers Bank adopts OakNorth’s lending platform
The US bank holds $11.5 billion in assets.
Fifth Third Bank plans 1,000 new roles for COVID-19 jobless
The US bank is hiring across retail banking, mortgages, and operations.
Consumer fintech SoFi to acquire Galileo for $1.2 billion
Both CEOs say now is “the right time” for this deal.
