Fathom4sight Newsletter: Weekly FinTech news curated by Fathom4sight!
Monday June 03, 2024
Payments
Apple launched Tap to Pay on iPhone in Canada, empowering millions of merchants to use iPhone to seamlessly and securely accept in-person, contactless payments.?| Fintech Finance News
VoPay announced the launch of its Digital Transaction and Cash Management Banking Platform, TXB. VoPay’s TXB platform is a turnkey solution designed to help banks and credit unions launch API-first transaction banking and cash management services.?| Yahoo! Finance
As fraudsters seek new ways to exploit technology, Mastercard is using generative AI to double the speed at which it can detect potentially compromised cards, further protecting cardholders and securing the ecosystem.?| Crowdfund Insider
Mastercard announced its peer-to-peer crypto ecosystem, which is now available to users in Latin America and Europe. The credit card giant’s platform integrates with the Lirium, Bit2Me, and Mercado Bitcoin exchanges.?| PaymentsJournal
Mastercard joins United Nations Development Programme, signing a Memorandum of Understanding to collaborate towards deepening the understanding of development impact of digital scams, and ways to detect and address them.?| Fintech Finance News
Greenwin Corp. announced a partnership with Zenbase Inc. a financial technology company offering rent payment solutions designed for financial health.?| Yahoo! Finance
PayPal has announced the creation of a new advertising division, PayPal Ads, which aims to utilize the company’s vast user data to help advertisers reach targeted audiences.?| PYMNTS
FlexM's Remittance Platform clients can now launch their operations through white-label FlexRemit platforms and, with the Nuvei partnership, accept payments via various payment rails, including credit/debit cards, Apple Pay, Google Pay, and many other region-specific options.?| LinkedIn
Payments Canada has welcomed Paula Dunlop as the new Vice President, Policy, Government Relations and Research.?| Crowdfund Insider
Financial Institutions
The bank plans to use artificial intelligence to make recommendations based not just on transaction analysis, but on shopper intent and behavioral data.?| American Banker
CIBC announced that it is the first major financial institution to launch a bundled digital credit card and deposit account application for those new to Canada, making it faster and more convenient for these clients to make key banking decisions sooner.?| Finextra
Scotiabank saw digital adoption among customers and its tech spend tick up during its fiscal second quarter 2024.?| Bank Automation News
BMO continued to deliver on its digital-first agenda during its fiscal second quarter 2024 with AI, data and overall modernization at the forefront of its efforts.?| Bank Automation News
HSBC has introduced a new Payment Pre-Validation API to help business customers make payments with greater security, ease and confidence, by offering enhanced capabilities to verify payee details prior to initiating payments, making them faster and more reliable.?| Finextra
HSBC announced the inauguration of its new U.S. headquarters at The Spiral, a renowned office building in New York City’s Hudson Yards neighborhood, marking its largest U.S. relocation to date.?| Finextra
JP Morgan will pay $100 million to settle a CFTC probe that concluded the bank failed to properly monitor billions of client orders between 2014 and 2021.?| Finextra
This algorithm has been studied extensively and has been implemented on many quantum computers. It has potential applications in fields such as logistics, telecommunications, financial modeling, and materials science.?| Finextra
Insurance
Canadian digital insurance provider Apollo has raised $18.5 million Canadian dollars (about $13.6 million) to launch a wholly owned subsidiary that will allow Canadians to use buy now, pay later (BNPL) for their insurance premiums.?| PYMNTS
Group Medical Services (GMS), a health insurance company in Canada, and CoverGo, a? global no-code insurance SaaS platform for health, life, and P&C, are joining forces to digitize GMS’s entire health insurance ecosystem.?| Insurance-Canada.ca
Axis Insurance Managers, a company providing strategic advice and solutions for businesses and personal risks, acquired The Magnes Group Inc., an independent insurance brokerage.?| FinSMEs
领英推荐
Wealth Management
OneVest announced the launch of its Model Portfolio Marketplace, featuring a suite of model portfolios constructed using BlackRock’s iShares exchange-traded funds (ETFs).?| Business Wire
Richardson Wealth Limited (Richardson Wealth) has appointed Derek Perritt as Vice President, Wealth Planning and Solutions, within its Wealth Strategies group.?| Wealth Professional
FI Tech & Software
Una Software, provider of an applied revenue intelligence platform, raised an undisclosed amount in funding.?| FinSMEs
Caseware AiDA, the artificial intelligence (AI)-enabled software is introduced on a prelaunch basis. AiDA works with Caseware’s suite of solutions for accounting, audit and finance professionals.?| PYMNTS
OpenText cybersecurity company, acquired Pillr, a Wichita, Kansas-based security operations software provider and a subsidiary of Novacoast, a Canadian provider of cybersecurity services.?| FinSMEs
Challenger Banks
FlightHub is happy to offer Neo Financial customers the best itineraries for the cheapest prices with access to over 400 airlines and exceptional customer service.?| LinkedIn
Neo Financial announced that the Neo Secured Credit card, along with all Neo credit card products, will now report to Equifax Canada, in addition to its existing reporting to TransUnion, giving Canadians full credit profiles for broader lender acceptance.?| Fintech Finance News
FinTech startup Relay has secured approximately $44 million CAD in Series B funding led by existing investor Bain Capital Ventures to build on its growth and fuel its product development plans.?| BetaKit
Open Banking
Canada’s eMACH.ai Cloud has been designed for connected ecosystems. The future-focused and open banking-enabled solution allows Banks & Credit Unions to partner with FinTechs and rapidly launch innovative products that drive revenue, create operational efficiencies and provide an opportunity to attract new customers across all 3 segments - Corporate, SME and Retail.?| Finextra
Others
Maxa, a Snowflake Native App for business system and ERP insights automation for the Gen AI era, raised USD21M in Series A funding.?| FinSMEs
Canadian e-commerce giant Shopify has convinced a Delaware, US court to overturn a 2022 patent-infringement decision.?| BetaKit
The Canadian Securities Administrators (CSA) today announced that rule amendments supporting the move to a shorter settlement cycle for equity and long-term debt market trades came into force in Canada.?| 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.