Fall is officially here! A favorite season for many, autumn also marks a likely acceleration in fintech and financial services news and activity. Be sure to check Finovate’s Fintech Rundown all week long for the latest in headlines and news updates!
Open banking
PNC Financial Services and Plaid sign data sharing agreement.
Cryptocurrency
CheckSig offers Italy’s first crypto staking service that integrates tax management.
Payments
Money transfer innovator Wise launches online invoicing tool for small businesses.
Fraud prevention
Financial crime risk management solutions provider Hummingbird acquires no-code integration and automation specialist LogicLoop.
Nasdaq Verafin announces enhancements to its Targeted Typology Analytics suite to add detection capabilities for terrorist financing and drug trafficking activity.
Lending
Canadian fintech KOHO partners with lending-as-a-service company Propel Holdings.
Payments
Worktech platform DailyPay adds new Savings feature to its DailyPay Visa Prepaid card.
Payments solution provider for the transportation industry, AtoB, secures $130 million in equity and debt financing.
Credit unions
OneAZ Credit Union partners with Backbase for its Engagement Banking platform.
Wealth management
U.K.-based wealth manager Quilter acquires digital investment platform NuWealth.
Photo by Designecologist
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With the arrival of fall, the fintech and financial services industry is gearing up for a season of exciting developments. As the leaves change colors, the world of finance is abuzz with new partnerships, innovations, and advancements. At Finovate, we are committed to bringing you the latest updates and headlines in the world of fintech. Stay tuned to our Fintech Rundown for all the breaking news and stories this season.
###Open Banking
In a significant move, PNC Financial Services and Plaid have joined forces to sign a data sharing agreement. This collaboration could pave the way for new opportunities and advancements in the realm of open banking.
###Cryptocurrency
Italy welcomes its first crypto staking service with CheckSig’s innovative offering that includes integrated tax management. This development is a noteworthy step forward in the adoption and utility of cryptocurrencies in the traditional financial landscape.
###Payments
Well-known money transfer pioneer, Wise, has introduced an online invoicing tool tailored for small businesses. This tool is set to streamline payment processes and enhance the efficiency of financial transactions for entrepreneurs and enterprises alike.
###Fraud Prevention
Hummingbird, a leading financial crime risk management solutions provider, has acquired LogicLoop, a specialist in no-code integration and automation. This acquisition is aimed at bolstering fraud prevention measures and ensuring a secure financial environment for businesses and consumers.
Nasdaq Verafin has unveiled enhancements to its Targeted Typology Analytics suite, incorporating new detection capabilities for identifying terrorist financing and drug trafficking activities. These enhancements demonstrate a concerted effort to combat illicit financial activities and strengthen global security measures.
###Lending
KOHO, a prominent Canadian fintech firm, has partnered with Propel Holdings, a lending-as-a-service company, to expand its offerings and reach a wider audience. This partnership is poised to revolutionize the lending landscape and provide innovative solutions to borrowers.
###Payments
DailyPay, a renowned worktech platform, has introduced a new Savings feature to its DailyPay Visa Prepaid card, enhancing financial management tools for users. Additionally, AtoB, a payments solution provider specializing in the transportation industry, has secured a substantial $130 million in equity and debt financing to fuel its expansion and growth.
###Credit Unions
OneAZ Credit Union has teamed up with Backbase to implement the Engagement Banking platform, aiming to enhance customer experience and streamline banking operations. This collaboration underscores the importance of technological innovation in providing personalized and efficient financial services to credit union members.
###Wealth Management
Quilter, a prominent wealth management firm based in the U.K., has acquired NuWealth, a digital investment platform, in a strategic move to broaden its service offerings and cater to a diversified client base. This acquisition exemplifies the industry’s shift towards digital wealth management solutions and the increasing demand for innovative investment platforms.
As we embrace the autumn season, let’s look forward to a period of growth, innovation, and collaboration in the fintech and financial services sector. Stay tuned to Finovate for all the latest updates and developments shaping the future of finance.
Photo by Designecologist
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