Connect with us

Fintech

Varo Bank’s new tech stack paves way for small-dollar lending

Avatar

Published

on

Fintech

HSBC leans into APIs to expand Cash Flow Forecasting tool

Avatar

Published

on

HSBC is expanding its Cash Flow Forecasting tool across its global footprint, and leveraging APIs to do so with minimal impact to existing systems. Cash Flow Forecasting is an API-enabled tool that gives businesses an accurate picture of their future finances to manage liquidity. It launched in London in June, and is slated to roll […]

Source: https://bankinnovation.net/allposts/products/treasury-management/hsbc-leans-into-apis-to-expand-cash-flow-forecasting-tool/

Continue Reading

Fintech

Canada Partners with Swiss, U.S. Fintechs; Neobank Raises Millions in Mexico

Avatar

Published

on


When it comes to taking advantage of the best that the world’s fintech has to offer, you won’t find financial services companies in Canada sleeping on the job. This week in the country’s payments space, Toronto, Ontario-based Versapay announced its acquisition of Solupay, a contactless payments company based in Ohio. We also learned that FinovateEurope alum unblu, which offers a digital conversational platform for FIs from its headquarters in Basel Switzerland, had teamed up with Calgary, Alberta-based digital technology solutions provider Celero.

By the end of the week, Canada’s largest credit education company, Borrowell, announced that it was partnering with multiple Finovate Best of Show winner MX. Borrowell, the first company in Canada to offer free credit scores via its partnership with Equifax, has launched a new bill tracking feature called Boost on its app. The company will use MX’s data cleansing technology to improve Boost’s analysis of user spending behavior to help users make better financial planning decisions.

“With MX, Borrowell is giving its customers greater clarity into how they can become more financially strong as a means to increasing credit strength,” MX Chief Customer Officer Nate Gardner said. “It is exactly this kind of innovation, partnership and money experience that MX loves to enable through our powerful data platform.”


Last week we featured an extended Q&A with Eric Rosenthal, Vice President and Managing Director for the Americas with Rapyd. If you’re interested in learning more about the fintech ecosystem in one of the most overlooked regions of the world, our conversation with Eric Rosenthal is a great place to start.

With that in mind, congratulations to Mexican challenger bank Klar, which raised $15 million in Series A funding in a round led by Prosus Ventures this week. Founded in 2019, Klar now has approximately $72 million in total debt and equity financing, and noted that the new capital will help the company build its engineering capabilities in its hubs in Berlin and Mexico.

“Klar is making credit accessible to all Mexicans, including those with no credit history,” Klar co-founder and Chief Financial Officer Daniel Autrique said. “We help people build credit by looking at how and where they spend their money, instead of being stuck with traditional credit scores that are backward looking and obsolete.” The company said that, since inception, it has issued more than 25,000 lines of credit among its 200,000 customers.


Here is our look at fintech around the world.

Sub-Saharan Africa

  • Stripe makes inroads in Africa with acquisition of Paystack.
  • A partnership between Standard Bank, Mastercard, and Google will help SMEs in Africa offer their services online as well as accept digital payments.
  • Trading Technologies teams up with Cape Town-based Applied Derivatives, which will distribute the TT platform from South Africa.

Central and Eastern Europe

  • PayRay, a factoring company based in Lithuania, receives banking license and begins banking operations in its home country.
  • Lithuanian online payments firm Interpaylink partners with iDenfy to provide remote user identification.
  • Advapay, a digital core banking platform provider based in Estonia, teams up with U.K.-based identity verification platform Sumsub.

Middle East and Northern Africa

  • Cairo, Egypt-based financial wellness platform NowPay raises $2.1 million in seed funding.
  • Central Bank of Bahrain launches the region’s first digital fintech lab, FinHub 973.
  • Commercial Bank of Dubai introduces cards and accounts for low-income consumers courtesy of partnership with Now Money.

Central and Southern Asia

  • Indian payments processor Razorpay secures $100 million in Series D funding, earning a valuation just over one billion.
  • Mastercard announces partnership with Indian regtech Signzy to bring the company’s video KYC technology to its banking customers.
  • Indian fintech Open partners with Equitas Small Finance Bank and Visa to offer business debit card.

Latin America and the Caribbean

  • Brazilian payment solutions provider Ebanx announces expansion of operations into five countries in Central and South America.
  • Venio, a mobile app that provides financing to the unbanked, goes live in Mexico.
  • Chile’s third largest bank, Banco de Crédito e Inversiones (BCI), partners with Temenos to launch new corporate bank in Peru.

Asia-Pacific

  • The People’s Bank of China holds lottery to distribute millions in digital yuan valued at $1.5 million.
  • Vietnamese online payment portal AppotaPay scores payment intermediary license from State Bank of Vietnam.
  • PayMaya, a mobile payments platform based in the Philippines, launches new mobile payment device PayMaya One Lite, that enables acceptance of a range of digital payment types.

Photo by James Wheeler from Pexels

Source: https://finovate.com/canada-partners-with-swiss-u-s-fintechs-neobank-raises-millions-in-mexico/

Continue Reading

Fintech

Ditching the branch is a mistake, Forrester predicts

Avatar

Published

on

Banks that go fully digital as a result of COVID-19 could regret the move. “Banks shouldn’t abandon the branch but instead refocus it to drive customer and employee engagement,” according to Forrester’s “Predictions 2021: Banking” report. “They can reduce branch costs by being smarter about their footprint and technology as well as shifting to paperless […]

Source: https://bankinnovation.net/allposts/products/retail/ditching-the-branch-is-a-mistake-forrester-predicts/

Continue Reading
Esports2 hours ago

Call of Duty: Warzone players report game-breaking glitch at the start of matches

Esports2 hours ago

All Minecraft MC Championship 11 teams

Esports2 hours ago

Washington Justice re-signs Decay, acquires Mag

Esports3 hours ago

Silver Lining Warzone Blueprint: How to Get

Esports3 hours ago

League of Legends pros react to Bjergsen’s retirement announcement

Esports3 hours ago

Comstock Warzone Blueprint: How to Get

Blockchain News3 hours ago

Concerns Arise as North Korea’s Financial Services Commission Unsure of Its Cryptocurrency Mandate

Esports3 hours ago

Genshin Impact Resin System Change Introduced in Latest Patch

Esports3 hours ago

Revolution Warzone Blueprint: How to Get and Build

Esports3 hours ago

Red Crown Warzone Blueprint: How to Get

Esports5 hours ago

G2 close in on NiKo deal

Denmark
Esports5 hours ago

Lyngby Vikings replace ENCE in Elisa Invitational; new groups and schedule revealed

Esports5 hours ago

Madden 2 ‘In Order to Access The Online Features:’ How to Fix the Bug

Esports5 hours ago

Apex Legends Switch Delayed Again

Esports6 hours ago

Pokémon GO Colorful Pokémon Are Revealed

CIS
Esports6 hours ago

Virtus.pro extend unbeaten streak with win over NAVI to reach IEM New York CIS grand final

Denmark
Esports8 hours ago

Heroic eliminate NiP; to face Astralis in DreamHack Open Fall consolidation final

Blockchain News11 hours ago

Kik Survives Legal Battle With the SEC, Kin Crypto to Continue Trading on Exchanges

Esports11 hours ago

How to Play With Friends Online in Dynamax Adventures in Pokémon Sword and Shield The Crown Tundra

Esports12 hours ago

How to Separate and Rejoin Calyrex from Glastrier or Spectrier in Pokémon Sword and Shield Crown Tundra

Energy12 hours ago

Grand Opening of the 25th China (Guzhen) International Lighting Fair

Esports12 hours ago

All increased spawns, encounters, and event raids for the Pokémon Go Halloween Event

Esports12 hours ago

All Timed Research tasks and rewards in Pokémon Go’s 2020 Halloween event

Esports12 hours ago

All ‘A Spooky Message Unmasked’ Special Research tasks and rewards in Pokémon Go

AR/VR14 hours ago

Unity announces plans to release experimental version of Unity OpenXR early next year

Energy15 hours ago

World’s Sole Owner of PERKLONE and TRIKLONE Now Supplying Saudi Arabia Oil & Petroleum Refineries; PERKLONE EXT; Catalyst grade, UOP Approved

Esports17 hours ago

Complexity Gaming Signs Jks From 100 Thieves

Blockchain News20 hours ago

People’s Bank of China Seeks to Prohibit the Creation of Digital Tokens

Energy20 hours ago

EV Charge Holding Limited sichert sich 15 Millionen Euro von GEM

Energy20 hours ago

Xinhua Silk Road: Chinas Solarindustrie soll angesichts der angestrebten Klimaneutralität schneller wachsen

Energy22 hours ago

Xinhua Silk Road: o setor solar da China deve concretizar um crescimento mais rápido em meio a um objetivo de neutralidade de carbono

Energy22 hours ago

Xinhua Silk Road: La industria solar de China adoptará un crecimiento más rápido en busca del objetivo de la neutralidad de carbono

Fintech23 hours ago

HSBC leans into APIs to expand Cash Flow Forecasting tool

Blockchain23 hours ago

U.S. crypto exchanges have a plan for the travel rule. Now they just have to get along

Esports23 hours ago

jks: “I’m at the point in my career where I really just want to win a lot of things; this is the reason why I came to Complexity”

Energy24 hours ago

Insights on the Fermented Ingredients Global Market to 2027 – Strategic Recommendations for New Entrants

Blockchain1 day ago

Exploring the current state of cryptocurrency taxation in the European Union

Fintech1 day ago

Canada Partners with Swiss, U.S. Fintechs; Neobank Raises Millions in Mexico

Energy1 day ago

$6.9 Billion Worldwide Spandex Industry to 2027 – Impact of COVID-19 on the Market

Energy1 day ago

Kimbell Royalty Partners Declares Third Quarter 2020 Distribution

Trending