Fathom4sight Newsletter: Weekly FinTech news curated by Fathom4sight!
Monday June 10, 2024
Payments
Trulioo announced a partnership with Mastercard, a global technology company to deliver innovative identity verification solutions to streamline digital onboarding for both merchants and consumers, while fighting fraud.?| Fintech Finance News
Montreal-based PayTech, Zūm Rails has hired Credit Sesame’s Miro Pavletic for its own BaaS play.?| Finextra
Adyen, the global financial technology platform of choice for leading businesses, announced the opening of its own office in Toronto.?| Finextra
Commerce platform Shopify has acquired Checkout Blocks, allowing Shopify Plus merchants to make no-code customizations in their checkout to enhance customer experience and potentially boost sales.?| TechCrunch
Shopify has acquired Threads.com, the Sequoia-backed Slack alternative, Threads said on its website. The companies didn’t disclose the terms of the deal but said that the Threads.com team will join Shopify.?| TechCrunch
Mastercard announced a collaboration with Temenos, a global technology company in the payments industry, “to accelerate the implementation and delivery of Mastercard Move, Mastercard’s portfolio of money transfer capabilities, to banks and their customers.”?| Crowdfund Insider
FinTech company Ratehub has appointed Naga Parvatharajan as its new CEO in the latest in what has been a flurry of executive turnover in Canadian tech this year.?| Fintech Finance News
Western Union announced that it has expanded its collaboration with Tencent Financial Technology to partner with Tenpay Global, Tencent’s cross-border payment platform.?| Fintech Financial News
Nuvei announced that it has partnered with Visa, a world leader in digital payments, to offer Visa Direct in Colombia. Nuvei is the first global payments provider to offer Visa Direct to its customers in the country.?| Finextra
Visa announced the company generated $40 billion in incremental e-commerce revenue globally, after issuing over 10 billion tokens since their launch in 2014.?| Finextra
Mastercard crypto credential goes live with P2P transaction For the first time, crypto exchange users will be able to send and receive crypto using their Mastercard Crypto Credential aliases, instead of the typically long and complex blockchain addresses.?| Payments Cards & Mobile
Gnosis Pay announced a new partnership with Visa. The goal is to broaden the use of digital currencies in everyday payment settings.?| Crowdfund Insider
Card giant Mastercard and digital bank Bunq are teaming up on open banking and AI, the companies announced this week at Money2020 in Amsterdam.?| Bank Automation News
Mastercard announced the launch of ‘Mastercard For FinTechs’, the company’s new program designed to support FinTechs across Western Europe, equipping them with the tools and expertise to drive ongoing growth and propel them to the next level.?| Finextra
Financial Institutions
The Bank of Canada has cut its key interest rate by 0.25 per cent to 4.75 per cent, the first interest rate cut since the BoC’s hiking cycle began in early 2022.?| Wealth Professional
Royal Bank of Canada announced Wednesday that it was decreasing its prime rate by 25 basis points to 6.95 per cent from 7.20 per cent, effective June 6.?| Financial Post
EQ Bank, Canada's Challenger Bank driving change in banking to enrich lives, is helping Canadians make the most of their savings with the launch of its new Notice Savings Account. With no minimum balance requirements and no fees, the EQ Bank Notice Savings Account is a first-of-its-kind account in Canada.?| Newswire
RBC is launching The Growth Project, a multi-part initiative focused on Canada's economic growth trajectory. The initiative will offer key insights into productivity, AI, the agriculture sector, immigration, trade, and skills development, and will propose actionable strategies that can help solve Canada's growth problems.?| Newswire
Spare, developing a platform that empowers transit agencies, received $10M in Growth Capital. CIBC Innovation Banking provided the financing.?| FinSMEs
BNY Mellon’s automated smart routing solution decides which payments rail to send transactions through behind the scenes, without burdening clients with the decision.?| Bank Automation News
领英推荐
FI Tech & Software
Zafin, the leading provider of SaaS core modernization and transformation solutions for banks, today announced the appointment of Michael Nitsopoulos as Chief Product Officer.?| Finextra
Databricks announced it has agreed to acquire Tabular, a data management company founded by Ryan Blue, Daniel Weeks, and Jason Reid.?| Newswire
Wealth Management
Conquest Planning, the next-generation planning application developed by Mark Evans, has revealed upgrades to its artificial intelligence-based strategic advice manager (SAM).?| Wealth Management
Insurance
Apollo Insurance has launched a new subsidiary offering a buy now, pay later (BNPL) facility for insurance premiums called FinShore.?| BetaKit
Open Banking
Plaid's newest product seeks to improve lenders' underwriting decisions by identifying gig-work wages, buy now/pay later loans and other income streams gleaned from bank-account data.?| American Banker
Lending
Klarna has cut its sales and marketing spend by 11% in Q1 2024 while increasing the number of campaigns and updating marketing collateral more frequently.?| Finextra
Venture Capital
Investment firm McRock Capital has launched its third fund with an initial $111-million CAD ($81 million USD) close for Industrial Internet of Things (IoT) companies.?| BetaKit
RegTech
The federal and British Columbia privacy commissioners have launched a joint investigation into Victoria-based background-check technology startup Certn.?| BetaKit
Others
Generative artificial intelligence (AI) startup Cohere has closed fresh funding and launched a program aimed at supporting early-stage AI innovation.?| BetaKit
Ratehub has appointed Naga Parvatharajan as its new CEO in the latest in what has been a flurry of executive turnover in Canadian tech this year.?| BetaKit
Trulioo announced a partnership with BDSwiss for Person Match and Watchlist Screening capabilities across EMEA, Asia and the Americas.?| Finextra
Calling all Women Entrepreneurs in the FinTech space!
Our partner Finance Montreal and Station FinTech Montreal is running a new program for Female Entrepreneurs to help them develop?an effective approach to obtaining funding and growing their startup!
Program details from June 17-September 11. Application deadline is June 5.