News
Stay up to date with the latest news in fintech, crypto, and digital finance. Our News section delivers concise, insightful coverage of market developments, funding rounds, regulatory updates, and innovations shaping the financial technology landscape.
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Juniper Research Unveils Key Areas of B2B Payments Modernisation
Technological advancements and changing market needs are currently driving a significant evolution in the business-to-business (B2B) payments sphere. A recent whitepaper by Juniper Research highlights the areas of B2B payments that are undergoing modernisation. The paper, ‘Breaking the Innovation Logjam in B2B Payments’, provides crucial insights into the sector’s ongoing digital transformation. The push for…
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Venture Capital and CfD Reforms Boost UK Economy
Recent shifts in the UK’s economic sector reveal a mix of careful optimism and strategic reform, according to KPMG UK. This positive perspective stems from two key factors: the resurgence of venture capital investment and government alterations to the Contracts for Difference (CfD) scheme. Despite facing hurdles during the COVID-19 pandemic, the venture capital landscape…
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Entrust Bolsters Digital Security with New Partnerships and Platform
Entrust, a global identity-centric security solutions provider, recently made significant progress in digital security. The firm demonstrated its commitment to tackling complex cybersecurity issues through a strategic partnership with PlaySafe ID, a leadership transition, and the introduction of a new cryptographic security platform. Entrust strategically partnered with PlaySafe ID, a robust security platform offering top-tier…
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Fundraising News of Tuesday 29 July
Recent fintech fundraising news reveals DynaRisk, a UK-based cyber risk management firm, has secured €4 million for product innovation and global expansion. Similarly, AI cybersecurity firm Dropzone AI has raised a hefty $37m in a Series B funding round. Also, AI-powered revenue optimisation platform TakeUp has acquired $11m in funding. Lastly, Chocolate Finance, a firm…
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British Business Bank Lends £2.5bn via Growth Guarantee Scheme
The British Business Bank recently unveiled a £2.5 billion loan via its Growth Guarantee Scheme. The primary goal of this scheme is to stimulate growth in UK businesses, especially those located outside the capital city. The distribution of these funds covers various sectors. For example, the manufacturing sector received £368 million, and the wholesale and…
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Airwallex Expands Yield Product to Singapore and Partners with Arsenal
Airwallex, a leading global fintech platform, has made notable progress this year. It continues to empower businesses with digital financial solutions. Its Airwallex Yield product’s recent expansion into Singapore, following regulatory approvals from the Monetary Authority of Singapore (MAS), is a significant development. This product, designed to streamline business fund management and growth, enhances Airwallex’s…
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US Senators Push for Cash to Stay in Digital Economy
Despite the rise in digital payments, the greenback remains significant in the US economy. However, with the increasing preference for the speed and convenience of credit and debit cards, physical cash usage is on the decline. In response, two US Senators have proposed new legislation to keep cash as a market option. With the ongoing…
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FCA Appoints Liam Coleman as Interim Ombudsman Chair
The UK Financial Conduct Authority (FCA) has chosen Liam Coleman as the new interim Chair for the Financial Ombudsman. He succeeds Zahida Manzoor CBE, who has served for the past two years. This change was anticipated, considering Manzoor’s impending departure was previously announced. Amidst a period of transition, the FCA’s choice of an interim chair…
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NiCE Acquires Cognigy in Record $955m European AI Deal
Cognigy, a leading player in the AI field, has been acquired by NiCE in a monumental $955 million deal. This acquisition represents the largest European AI deal so far, marking a significant milestone in the AI industry. Cognigy is renowned for its AI platform that transforms customer service by automating interactions. This game-changing platform has…
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UAE Central Bank Gives In-Principle Approval to Lean Technologies
Financial infrastructure firm Lean Technologies has received in-principle approval from the Central Bank of the UAE. This achievement marks a significant milestone in the company’s journey, as it continues to enhance its services. Founded in 2019, Lean has quickly made its mark in the fintech landscape. Lean Technologies specialises in enabling payments and data for…
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DynaRisk Raises $4.7m to Boost Cyber Risk Solutions
London’s insurtech sector has witnessed a significant development. DynaRisk, secured $4.7 million in a funding round. The round was led by YFM Equity Partners, known for strategic investments. This funding will boost DynaRisk’s innovative solutions and growth strategies. As a leading cyber intelligence SaaS provider, DynaRisk aids insurers in identifying, monitoring, and mitigating policyholder cyber…
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ADB Cuts Growth Forecasts for Asia-Pacific Economies
The Asian Development Bank (ADB) recently slashed its growth forecasts for developing economies in Asia and the Pacific. This impacts the predictions for 2025 and 2026. A weaker external demand, global trade uncertainty, and subdued domestic consumption are the primary reasons for this adjustment. The ADB announced these revisions in its Asian Development Outlook (ADO)…
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Strategy’s Bitcoin Accumulation Shapes Crypto Market Future
The cryptocurrency market is maturing, with key developments steering its course. Notably, Strategy (formerly MicroStrategy) (NASDAQ:MSTR), an enterprise business analytics and mobility software provider, is persistently accumulating Bitcoin. Coupled with altcoin rallies and regulatory actions by the Securities and Exchange Commission (SEC), this activity significantly impacts investors. In the cryptocurrency arena, Strategy is at the…
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Intesa Sanpaolo Bank Slovenia Launches Minibond Scheme
In Slovenia, Intesa Sanpaolo Bank Slovenia, a subsidiary of Intesa Sanpaolo Group, has initiated a minibond scheme. This innovative move involves a fully subscribed €10 million minibond issued by Incom. This venture has caught the financial sector and fintech enthusiasts’ attention. Although minibonds are familiar in finance, Slovenia has never seen such a transaction before.…
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Berlin Fintech Firm Credibur Lands £1.85M Pre-Seed Funding
In a recent announcement, Berlin-based fintech firm Credibur has secured a substantial pre-seed funding of $2.2 million (€1.85 million). The firm plans to use this investment to launch their innovative credit infrastructure platform, marking a significant milestone in their growth journey. The funding round was spearheaded by the esteemed European FinTech venture capital firm Redstone.…
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LegalDocs Ventures into $6bn E-Forms Market with LegalTech Platform
LegalDocs is now stepping into the electronic forms market, valued over $6 billion. The company aims to transform document preparation and management with its LegalTech platform. Designed to streamline document management, LegalDocs‘ LegalTech platform delivers legally compliant solutions. As the demand for digital solutions escalates due to the pandemic, this innovative platform could fill a…
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WisdomTree Outlines Innovative Stablecoin Strategy
Recently, WisdomTree, a leader in asset management, outlined a robust stablecoin strategy. They aim to play a central role in the fast-growing world of blockchain finance. Will Peck, Head of Digital Assets at WisdomTree, detailed this strategy in a blog post. It leverages the transformative impact of stablecoins in the financial sphere. Stablecoins are digital…
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Tuum Teams Up with Solidgate to Boost Global Finance
Core banking provider Tuum is reshaping the financial services landscape significantly. Its cloud-native, API-first, and modular platform enables various financial entities, including banks, fintechs, and businesses, to offer improved services. Recently, they partnered with Solidgate, extending Tuum’s global influence even further. Tuum is harnessing the power of strategic alliances to impact the global financial services…
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Fundraising News of Sunday 27 July
Ashby from San Francisco successfully secured $50m in a Series D funding round. OpenAI and Shopify are among the investors. On the other hand, German fintech Credibur obtained €1.85m in pre-Seed funding for its credit infrastructure platform launch. Redstone, MS&AD Ventures, and Inovia backed this venture. Meanwhile, in Switzerland, Reshape Systems SA, a CERN spin-off,…
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Firms Turn to Cryptocurrencies for Treasury Management Boost
Global corporations are now revamping their traditional treasury management strategies. They aim to stay competitive and resilient. Thus, they’re incorporating cryptocurrencies into their balance sheets. Factors such as inflation hedging, portfolio diversification, and the potential of digital assets drive this strategic shift. A recent Coinbase (NASDAQ:COIN) update underscores this trend. The leading cryptocurrency exchange platform…