LendingTree has partnered with insurtech Coverdash to integrate small business insurance into its platform. Adding insurance solutions complements LendingTree’s existing SMB loan products by helping insured businesses qualify for more financing due to their lower risk profile. The partnership also strengthens LendingTree’s position as a one-stop shop for SMB financial needs, while helping Coverdash expand its reach through a trusted, established brand. Online loan marketplace LendingTree has partnered with SMB-focused insurtech broker Coverdash to offer LendingTree’s business clients small business insurance. The ability to add Coverdash’s insurance options will be embedded into LendingTree’s platform. This partnership strengthens LendingTree’s connection with small business owners by broadening its SMB offerings beyond loans to include insurance solutions. LendingTree anticipates that this product expansion will complement its existing SMB loan products, as insured businesses typically present a lower risk profile, enabling them to qualify for additional financing. For Coverdash, today’s partnership with a trusted, established brand like LendingTree will broaden its reach and cement its role as a small business insurance provider. “We’ve always played an integral role in helping small businesses get off the ground with our loans and financing programs, so offering business insurance was the natural next step,” said LendingTree General Manager, Small Business & Student Loans, Jenn Ash. “This partnership with Coverdash deepens our commitment to supporting our customers’ growth, reinforcing our position as their trusted, long-term partner for all of their financial services needs.” North Carolina-based LendingTree maintains a marketplace of over 600 financial partners that offer a wide range of personal loans, mortgages, auto loans, and credit cards, and more. By enabling consumers to compare competitive rates and terms, LendingTree empowers individuals to make informed financial decisions. Since it was founded in 1998, the company has served over 120 million customers. “LendingTree’s legacy in financial services is unmatched, and we’re incredibly proud to have our embedded experience power their expansion into business insurance,” said Coverdash Co-founder and CEO Ralph Betesh. “Meeting financial requirements while starting a business is complex – our partnership lets business owners easily access trusted resources in one place at every stage of their company’s life cycle.” Founded in 2022, Coverdash is a newcomer to the insurtech space, which is typically dominated by more established companies. Based in New York, Coverdash is licensed in all 50 U.S. states to provide insurance solutions tailored to small businesses, including freelancers, e-commerce operations, and startups. Its offerings span general liability, workers’ compensation, cyber insurance, and more. Earlier this year, the company secured $13.5 million in Series A funding, bringing its total funding to $16 million, according to Crunchbase. Photo by Ivan Samkov The post LendingTree Taps Coverdash to Launch Small Business Insurance Offering appeared first on Finovate.       

Amundi Technology has agreed to acquire aixigo in a deal valued at $157 million. Amundi will leverage the acquisition to strengthen its role as a leading technology and services provider in the asset management space. Aixigo last demoed its technology on the Finovate stage at FinovateFall 2018 in New York. Amundi Technology, an asset manager based in France, has acquired German wealth management platform provider aixigo. The transaction has been valued at $157 million (€149 million). The acquisition is designed to help banks and financial institutions integrate technological solutions into their IT infrastructures faster. Adding aixigo will help Amundi develop further as a technology and services provider, enabling the firm to offer a more comprehensive range of services. The acquisition will also expand Amundi’s geographical reach thanks to aixigo’s customer base in Germany, Switzerland, and the U.K. “Joining Amundi Technology presents aixigo with a unique opportunity to expand our service offerings and leverage Amundi’s expertise, allowing us to become the undisputed European leader before gradually extending our reach into Asia, a vision that perfectly aligns with our values and ambitions,” aixigo CEO Arnaud Picut said. Founded in 1999, aixigo offers modular, intuitive wealth management technology. The company’s aixigo:BLOXX wealth management platform is a fully customizable solution that enables financial services providers to design wealth management services that fit their specific requirements and preferences. Portfolio analysis and reporting, digital portfolio management, risk management, financial planning, and investment advice are among the features of aixigo’s high-performance, API-based platform. With a staff of 150, aixigo serves more than 20 clients representing more than $1.05 trillion (€1 trillion) in assets under management. The company reports that 60,000 advisors use aixigo’s technology on a daily basis for everything from client onboarding to report generation. Amundi is a leading European asset manager with 100 million retail, institutional, and corporate clients. A subsidiary of the Crédit Agricole Group, Amundi manages $2.3 trillion (€2.2 trillion) in assets. “With the addition of new expertise, which has already been adopted and recognized by leading financial firms, we will continue to roll out new innovative services, and play an active part in the development of the financial advisory and wealth management sector,” Amundi Chief Executive Officer Valérie Baudson said. “This transaction will create significant value for our clients, partners, and shareholders.” Headquartered in Aachen, Germany, aixigo made its Finovate debut at FinovateEurope 2017. The company most recently demoed its technology before Finovate audiences at FinovateFall 2018 in New York. Photo by Kai Pilger The post Asset Manager Amundi Acquires Aixigo in $157 Million Deal appeared first on Finovate.       

Google Pay is adding Afterpay and Klarna to its checkout flow, complementing its existing partnerships with Affirm and Zip. Adding more BNPL options at the point of sale will help increase conversion rates and average order values. By offering four BNPL options, Google Pay solidifies its edge over Amazon, which currently provides Affirm as its sole BNPL provider at checkout. Google Pay is doubling down on buy now, pay later (BNPL) options at checkout. The company announced today that it is adding Afterpay and Klarna to its checkout flow at select merchants. The move will offer consumers more flexible payment options when they use Google Pay. “People shop on Google more than a billion times per day, and consumers are increasingly looking for more choice and flexibility when it comes to their payment options,” said Google Pay Senior Director Drew Olson. “By teaming up with pay over time providers like Klarna, we are able to give Google Pay users more payment options when checking out, while providing merchants with another tool to drive growth.” Adding Afterpay, which has 24 million active users, and Klarna, which has 85 million active users, will not only offer more ways to pay but may also lead to increased conversion rates and higher average order values. Customers are more likely to make larger purchases when offered flexible payment solutions. “Afterpay’s integration with Google Pay comes at the perfect time as next-gen shoppers are fueling mainstream use of BNPL, mobile commerce, and digital wallet use,” said Afterpay and Cash App Head of Global Partnerships Tanuj Parikh. “We are excited to expand our BNPL to Google’s network, creating the best and most streamlined customer shopping experience that meets all the needs of this younger consumer set.” While Afterpay is now available on Google Pay, Klarna will launch with select merchants in 2025. The company aims to expand the BNPL options to more merchants in the future. Today’s news comes about a year after Google unveiled that it partnered with Zip and Affirm, two other major BNPL players, to offer Google Pay users BNPL options. While offering four BNPL options at the online point of sale sounds excessive, not all merchants offer every BNPL option at checkout. The selection of BNPL providers is dictated by the agreements between Google Pay, the BNPL services, and the individual merchants. By expanding its roster of BNPL options, Google Pay strengthens its competitive edge against Amazon, which currently limits point-of-sale BNPL offerings to Affirm. While the exclusivity agreement between Amazon and Affirm ended last year, Amazon has yet to collaborate with additional BNPL providers. Google Pay’s strategic decision to double its BNPL offerings may prompt Amazon to diversify its own consumer payment options. The post Google Pay Adds AfterPay and Klarna to BNPL Options appeared first on Finovate.       

This week in 5 Tales from the Crypto we look at a pair of acquisitions, an expansion into a new market, new guidelines for crypto providers, and a new solution for executing cryptocurrency swaps. Crypto.com acquires Australia’s Fintek Securities Cryptocurrency trading platform Crypto.com has acquired brokerage service and trading company Fintek Securities. Terms of the transaction were not disclosed. The acquisition will help Crypto.com extend its services to crypto traders and investors in Australia. Fintek Securities holds an Australian Financial Services license and is regulated by the Australian Securities and Investments Commission. “The path of the Crypto.com roadmap is to ambitiously expand our offering by providing customers (with) the most comprehensive set of financial services, and this acquisition is the latest step in that journey,” Crypto.com CEO Kris Marszalek said. “The goal is to create one destination for all financial services where users can simplify their experience and maximize rewards.” Crypto.com offers eligible customers financial products including deposits, derivatives, securities, foreign exchange, managed investment schemes, and more. Investors and traders on its platform can buy Bitcoin, Ethereum, and more than 350 other cryptocurrencies. They can also access, manage, and spend their funds at any time using their Crypto.com Visa Card, which offers 5% cash back on all purchases. Founded in 2016, Crypto.com has its corporate headquarters in Singapore and American headquarters in Tyler, Texas. The company serves more than 100 million customers around the world, and is a leader in regulatory compliance, security, and privacy in the crypto space. Crypto.com’s latest acquisition comes less than a month after it announced the purchase of SEC-registered broker-dealer Watchdog Capital. In August, Crypto.com added PayPal as a payment method to fund cryptocurrency purchases on its platform. Cryptocurrency platform Gemini goes live in France Virtual Asset Service Provider (VASP) license in hand, cryptocurrency platform Gemini has gone live in France. The platform secured its VASP registration earlier this year, and this week announced that it is taking advantage of growing interest in crypto in France to begin operations in the country. Gemini Head of Europe Gillian Lynch wrote on the company’s blog that the percentage of crypto owners in France has grown to 18%, a two-point increase since 2022. Gemini’s 2024 Global State of Crypto report further revealed that trust in crypto is higher in France (23%) compared to both the U.S. (21%) and the U.K. (19%). Additionally, most crypto owners in France (62%) are so-called HODLers who see their holdings as part of their long-term investments rather than as short-term trading vehicles. Nearly half of those responding bought their first crypto assets more than three years ago. “Gemini’s entry into France is a strategic choice for our next phase of growth,” Lynch wrote. “France’s proactive engagement with and support of the crypto sector has fostered the development of a crypto hub, making it a key market for us.” Lynch credited regulators for much of the positive sentiment in France toward crypto. Specifically, Lynch pointed to France’s VASP regime, as well as the European Union’s passage of the Markets in Crypto Assets regulation (MiCA) in 2023. MiCA provides a comprehensive framework and regulatory guidance for E.U. companies involved in digital assets. “We believe in empowering individuals through crypto, and our expansion into France marks a significant milestone in our mission to make crypto accessible to everyone,” Lynch said. “Gemini’s research into the French market shows its growing interest in digital assets. (A) robust regulatory framework presents a unique opportunity to introduce our platform to the trading community and extend our presence in the European market over the coming months.” Founded in 2015, Gemini is headquartered in New York. EBA publishes new regulations for crypto providers The European Banking Authority (EBA) has issued two sets of guidelines that specify measures that Crypto Asset Service Providers (CASPs) and Payment Service Providers (PSPs) must adhere to when transferring funds or cryptocurrencies. In effect as of December 30, 2025, the regulations will require CASPs and PSPs that transfer funds or crypto assets to use a reliable screening system that will ensure compliance with their “restrictive measures” obligations. “These Guidelines clarify how restrictive measures policies and procedures interact with financial institutions’ wider governance and risk management frameworks, to avoid operational and legal risks for financial institutions and ensure an effective implementation of restrictive measures,” the EBA wrote. Further, CASPs and PSPs must screen relevant information to manage the risk that entities or individuals could violate the EU’s restrictive measures or seek to circumvent them. The new compliance requirements are designed to address perceived vulnerabilities in the banking system that can lead to both legal and reputational risks for financial institutions. This can weaken the effectiveness of the E.U.’s restrictive measures regime and, ultimately, destabilize the region’s financial landscape. The regulations build on legislation first issued in 2021 by the European Commission as part of a reform of the EU’s Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) program. These regulations, adopted in June of last year and going into effect on December 30 of this year, include a proposal for new rules with regard to fund and crypto asset transfers. Coinbase acquires Utopia Labs Digital currency wallet and platform Coinbase announced that the team from Utopia Labs will join its efforts to enhance Coinbase’s onchain payments roadmap within Coinbase Wallet. “The Utopia team has been on the ground floor building onchain payments products for years. We’re pumped for them to join us to accelerate our goal of bringing low-cost, fast, and global payments to everyone around the world,” Coinbase Head of Base and Coinbase Wallet Jesse Pollak wrote on the company’s blog. “Together, we’ll create a future where individuals and businesses large and small use onchain payments to make their lives better every day.” Specifically, the Utopia Labs team will join Base, Coinbase’s decentralized Ethereum Layer 2 scaling network. Base provides a secure, low-cost, and developer-friendly way to build decentralized apps onchain. Coinbase Wallet enables users to store and manage all of their digital assets — from cryptocurrencies to NFTs — as well as multiple digital wallets in a single location. The wallet provides support for hundreds of thousands of coins, as well as many decentralized apps, and can readily be funded from bank accounts, local payment options, or card payments in more than 130 countries. As Pollak explained, the connection between the acquisition, Base, and Coinbase is a strong one. “There’s a natural flywheel here,” Pollak said. “Base is supporting developers who build onchain apps, those apps attract users onchain, Wallet onboards those users, and in turn more users incentivizes more developers to build onchain.” Operating in more than 100 countries, Coinbase supports $185 billion in quarterly volume traded on its platform, and safeguards $273 billion in assets. The company was founded in 2012 and made its Finovate debut at FinovateSpring 2014. Brian Armstrong is CEO. Earlier this month, Coinbase launched a new engineering hub in Singapore to support the local developer community. Also in November, Coinbase introduced USDC Rewards for Coinbase Wallet users. The new program enables them to earn 4.7% APY by holding USDC onchain in their wallets. Rewards are paid directly into user wallets on Base every month. Currently available “in most regions” around the world, U.S. Coinbase Wallet users are gaining access to the service this week. Nubank introduces cryptocurrency swap tool Brazilian fintech giant Nubank has introduced a new solution to help simplify cryptocurrency transactions for its customers. The new tool enables Nubank customers to trade Bitcoin, Ethereum, Solana, and Uniswap for the digital dollar USDC and vice versa. “Swap is in demand by customers as they start including crypto assets into their strategies,” Nubank Executive Director of Cryptocurrencies and Digital Assets Thomaz Fortes said. “The initial implementation involving USDC and the four most popular cryptos is a way to ensure potential profits from value appreciation without losing market position and with a lower fee compared to selling for value in reais.” Integrated into the firm’s Nubank Cripto solution, the new functionality will be released over the coming weeks. Additional token pairs will be introduced within the next few months. Founded in 2013 and headquartered in São Paulo, Brazil, Nubank made its Finovate debut at our developers conference, FinDEVr New York in 2016. Today, Nubank offers one of the largest digital banking platforms in the world. In fact, the company’s swap tool news arrives a few days after it reported reaching the 100 million customer milestone in Brazil. This figure represents 57% of the country’s adult population. Nubank also recently noted major gains in other Latin American markets, reporting nearly nine million customers in Mexico and more than two million in Colombia. Photo by Michel Meuleman The post 5 Tales from the Crypto: Acquisitions, New Markets, New Rules, and New Tools appeared first on Finovate.       

Blackhawk Network (BHN) is transitioning Mastercard’s open-loop prepaid products from plastic to paper-based materials, aligning with Mastercard’s goal to eliminate PVC plastics from payment cards by 2028. As of 2022, 60% of BHN’s physical cards were already paper-based, with the company aiming for 75% by the end of 2023, supported by collaborations with global partners. Today’s collaboration follows a similar partnership with Visa that was formed in 2023. Branded payments provider Blackhawk Network (BHN) announced this week it is partnering with Mastercard, transitioning its network-branded open-loop prepaid products from plastic to paper-based materials.  The move will help support Mastercard’s commitment to remove first-use, PVC plastics from payment cards on its network by 2028. It also supports BHN’s sustainability efforts. The California-based company has offered paper-based and recycled products since 2017, and made a pledge in 2022 to convert most of its own original card products to digital or paper. “Since making our 2022 pledge, we have moved at lightning speed to deliver—and have successfully done so,” said BHN CEO and President Talbott Roche. “As of the end of last year, 60% of the physical cards in our network had been transitioned to paper-based materials, and we are well on our way to achieving our original goal of converting 75% by the end of this year. Taking those initiatives a step further, we are continuing to seek out collaborations with partners like Mastercard, banks, merchants, other card issuers, and manufacturers that operate on a global scale.” BHN reports that paper-based cards still offer convenience and reliability while posing minimal disruption to consumers, retailers, and issuers. The company is continuing to invest in research and development that will enable the use of paper materials in other channels, including print-on-demand production formats. “Mastercard’s reach, combined with our own, puts us in a rare position to not only reduce our footprint, but also to lead by example for other companies. We will continue to encourage more businesses to join our efforts and responsibly reduce the environmental impact of the products we use and consume,” added Roche. The move toward sustainability isn’t the first effort from BHN or major card companies. Last year, BHN announced a partnership with Visa where BHN was helping the card giant transition its open-loop prepaid cards from plastic to sustainable paper-based materials. Swapping out plastic in favor of paper cards is a good move for prepaid cards, which are often used once or twice and then disposed of. However, it is unlikely we will ever see paper credit or debit cards. Even if they are made to be durable enough to withstand daily transactions, consumers seem to favor thicker plastic and even metal cards, which offer a sense of status and exclusivity. Photo by DS stories The post Blackhawk Network Teams with Mastercard to Add Paper Prepaid Products appeared first on Finovate.       

Credit union credit card issuer Collabria Financial Services has teamed up with digital identity verification fintech Trulioo. The Canada-based card issuer will leverage Trulioo to streamline the verification process for new cardholders. With Trulioo’s verification capabilities, Collabria will enhance its ability to provide fast, compliant, and automated onboarding experiences. Trulioo will fully automate Collabria’s Know Your Business (KYB) review process, complementing its existing Know Your Client (KYC) workflows. This is particularly impactful given Collabria’s vast reach, serving 98% of Canadian credit unions, which means the benefits of this partnership will extend to millions of credit union members “The partnership with Trulioo marks a pivotal step forward in enhancing our security measures, while delivering a more streamlined, customer-centric process,” said Collabria CEO Jean-Marc Handfield. “With their cutting-edge technology, we’re elevating our measures against fraud and ensuring a faster and most importantly, safer, more secure experience for our cardholders.” Trulioo helps organizations verify over 5 billion people by providing real-time verification for a range of identification documents and business entities. Its platform supports more than 13,000 ID documents and 700 million business entities across 195 countries. Additionally, Trulioo conducts checks against over 6,000 watchlists to ensure comprehensive verification. “At Trulioo, our focus is on providing industry-leading solutions that meet the evolving needs of the payments industry,” said Trulioo CEO Steve Munford. “By combining our intelligent technology with Collabria’s expertise, we’re confident in our ability to enhance their verification processes, improve onboarding outcomes, and open windows of possibilities for their partners and members.” Earlier this year, Trulioo partnered with Mastercard to integrate Mastercard’s identity solutions into its Person Match and Risk Intelligence products. This collaboration provides Trulioo with access to identity and risk scores through a customizable, user-friendly dashboard, expanding its offerings beyond API-based products and further streamlining its onboarding processes. Headquartered in Canada and founded in 2011, Trulioo has raised $475 million. The company has demoed at 10 Finovate events, most recently showcasing its identity platform at FinovateEurope 2023. Photo by cottonbro studio The post Collabria Financial Services Taps Trulioo for Digital Identity Verification appeared first on Finovate.       

Global payments have been gaining popularity in fintech over the past few months. There is increasing demand for faster, safer, and cheaper payment opportunities as cross-border trade activity escalates. As McKinsey points out, however, payments are becoming disconnected from users’ accounts as platform-as-a-service (PaaS) and embedded payments models rise in popularity. These models, which often provide a more seamless and tailored customer experience, may pose a challenge for banks. That’s because, in many cases, banks may need to build new businesses to keep their existing customers. In its latest report, McKinsey offers data highlighting the growth of global payments revenues and details six trends that will define the next five years in the global payments landscape. While the report is full of valuable stats. Here are the points that I found most notable. Historical unicorns prove promising Over the past 10 years, the number of payments unicorns grew from 39 to 384, a group that boasts a combined valuation of $1 trillion. Though decreased funding and downrounds have slowed the growth of new payments unicorns, their track record has proven that, when the fintech sector begins to boom again, we will likely see a boost in high-value payments fintechs. Growth of global payments revenue Last year, the global payments industry processed 3.4 trillion transactions worth $1.8 quadrillion that generated $2.4 trillion in revenue. While this revenue figure has grown 7% each year since 2018, McKinsey estimates the growth will slow to 5% per year for the next five years. Cash usage tanks Since 2019, cash usage across the globe has dropped by 20%. The report notes that global cash usage continues to decline at 4% a year, but developing economies are experiencing a faster rate of decline than that of the U.S., where card usage has long been popular. While this report doesn’t mention it, countries with government-led payment schemes such as India (with UPI) and Brazil (with PIX) are also seeing a major decline in cash payments. In India, while cash payments still account for 60% of consumer expenditure, digital payments have doubled in the past three years. CBDCs are more relevant than ever According to the report, “More than 90% of central banks are pursuing or considering central bank digital currency (CBDC) projects, and more than 30 have rolled out pilots.” This figure was quite surprising, as I haven’t looked into CBDC projects since 2021, when only 43 countries were exploring the use of a CBDC. Despite U.S. hesitation to pilot a CBDC, I think we’ll see more discussion on the topic in 2025 as crypto grows and the environment becomes more crypto-friendly. We know fraud is up, but by how much? McKinsey’s report estimates that losses from global payment card fraud will reach $400 billion over the next ten years. Regulators have stepped up their efforts by increasing pressure on banks to comply, and as a result AML fines reached an all-time high, soaring past $6 billion last year. Check out the entire McKinsey report for a better picture of today’s global payments landscape. With trends like embedded payments, declining cash usage, the increasing relevance of CBDCs, and the ever-present threat of fraud, players in the payments industry will need to not only innovate, but also to collaborate to remain competitive. Photo by Aslı Yılmaz on Unsplash The post Back to the Future with Global Payments Trends appeared first on Finovate.       

Qover, an insurtech based in Brussels, Belgium, has partnered with Mastercard to provide return shipping cost protection when retailers do not offer free returns. The service is available to Mastercard credit cardholders in Belgium and Luxembourg; Qover plans to expand the service to additional European countries. Qover made its Finovate debut at FinovateEurope 2018 in London. Belgium-based insurtech Qover, which made its Finovate debut at FinovateEurope 2018, has teamed up with fellow Finovate alum Mastercard to enhance the online shopping experience for Mastercard credit cardholders in Belgium and Luxembourg. Via the partnership, Mastercard will leverage Qover’s technology to provide return shipping cost protection to refund shipping fees when retailers do not offer free returns. Qover’s platform makes return protection both easy and accessible. A combination of automation and advanced data extraction, driven by AI, enables users to find coverage details or submit a claim with just a few clicks and get instant updates on the status of their claim. Mastercard’s return protection reimburses shipping costs for returns, covering up to $31 (€30) per return, with a maximum of three claims or up to $95 (€90) per cardholder per year. “Embedded protection is becoming a strategic tool for businesses to enhance customer value and build loyalty,” Qover Co-founder and CEO Quentin Colmant said. “We’re honored by Mastercard’s trust and are excited to bring this innovative solution to their cardholders.” Qover provides an embedded insurance orchestration platform that empowers companies to embed insurance into their core offering. The company’s modular platform can accommodate any product or distribution channel and leverages automation and both GenAI and OCR technology to provide advanced data extraction that streamlines key components of the claims process. Available in more than 32 countries in Europe, Qover offers a wide range of insurance solutions including accident, mobility, travel, property, and purchase insurance. The company is planning to add trip cancellation and motor third party liability (MTPL), as well as coverage for accidental damage, breakage, or theft of high-value belongings such as mobile devices and appliances, in the near future. The newly announced service is available to Mastercard credit cardholders in Belgium and Luxembourg; Qover plans to expand the service to additional European countries. “We’re excited to unveil this new solution in collaboration with the rising star of European insurtech, Qover,” Mastercard Belgium and Luxembourg Country Manager Henri Dewaerheijd said. “This unique protection reinforces the value of Mastercard credit cards for online purchases and enhances the online shopping experience for our Belgian and Luxembourg cardholders.” Founded in 2016 and headquartered in Brussels, Qover made its Finovate debut at FinovateEurope 2018. More recently, Qover was featured in CNBC and Statista’s roster of the world’s top 150 insurtechs. This summer, the company announced its entry into the motor insurance market in Ireland. Qover has raised more than $71 million in funding, according to Crunchbase. The firm includes Zurich Global Ventures and BlackRock among its investors. Photo by Fuad Udemans The post Insurtech Qover Teams Up with Mastercard appeared first on Finovate.       

Revolut has received FCA approval to offer U.K. and E.U.-listed stock and ETF trading. The new service is expected to roll out in 2025 for its nine million U.K. customers. Revolut’s U.K. stock trading offering will allow it to compete with established platforms like Trading 212, Freetrade, Hargreaves Lansdown, and AJ Bell. Global challenger bank Revolut announced today that the U.K. Financial Conduct Authority (FCA) has granted it a license to offer trading services on U.K. and E.U.-listed stocks and ETFs. Revolut, which cemented its reputation as Europe’s most valuable fintech after receiving a $45 billion valuation, launched in 2014. The company initially launched stock market trading capabilities for U.S. stocks in 2019. Revolut’s U.K. trading service will roll out in 2025 for its nine million U.K. customers. Once the service is launched, the company will compete against Trading 212, Freetrade, Hargreaves Lansdown, and AJ Bell; which all offer U.K. trading stock trading services. Today’s news comes three months after Revolut received its banking license from the U.K. Prudential Regulation Authority (PRA). The long-awaited license allows the fintech to take and hold deposits, as well as sell financial products such as loans, credit cards, overdraft protection, and savings accounts to U.K. consumers. Previously, Revolut was able to offer an investment service to its U.K.-based traders which allowed its 650,000 users to trade U.S. stocks through fractional shares using Revolut’s app. That service was made possible via a partnership with DriveWealth, a U.S.-based fintech that facilitates investing-as-a-service for third party companies. U.K.-based Revolut chose to launch equities trading in the U.S. over the U.K. likely because of the higher demand for U.S. stocks such as Apple, Amazon, and Tesla. These companies have captured the attention of global retail investors because of their significant growth. By prioritizing U.S. equities, Revolut capitalized on this demand and aligned its offering to suit the interests of its tech-savvy user base. Adding U.K. trading will offer Revolut another cross-sell opportunity, helping it to further compete with traditional financial institutions that are able to help users manage multiple facets of their clients’ lives. The move not only diversifies its product portfolio but also strengthens its position in an increasingly competitive fintech market. Photo by energepic.com The post Revolut Earns U.K. Trading License from the FCA appeared first on Finovate.       

This week’s Fintech Rundown begins with a handful of stories about partnerships in wealth management and lending, as well as moves by banks to bolster their fraud prevention capabilities. Check back all week long for updates and more fintech news! Wealth management 1 fs Wealth, a global wealth intelligence provider, announces a strategic partnership with Apex Group. Lending Secured finance technology provider Lendscape teams up with Express Trade Capital. Fraud prevention CommBank introduces three new security features on its app to help users defend themselves against scams. Westpac unveils new resources — Westpac Verify and SaferPay — to make it easier for customers to report fraud. Digital banking Vietnam’s Maritime Commercial Joint Stock Bank deploys Backbase’s Engagement Banking Platform. Crypto Acuity Trading forges strategic partnership with multi-licensed broker, OneRoyal. Xapo Bank introduces bitcoin beneficiary solution. Payments TransferTo inks Memorandum of Understanding with pan-African financial institution, Ecobank Group. Payment processing platform Solidgate launches its AI Dispute Representment solution to automate the dispute management process Trust Payments introduces new Chief Executive Officer Laurence Booth. Photo by Pixabay The post Fintech Rundown: A Rapid Review of Weekly News appeared first on Finovate.       

Visa’s Flexible Credential card is now available in the U.S. and U.A.E., offering cardholders flexibility to pay from multiple account funding sources. In the U.S., Affirm will integrate VFC into its buy now, pay later (BNPL) Affirm Card, while UAE-based Liv will leverage VFC to enable multi-currency transactions through a single card. The VFC is similar to Curve’s multi-payment card offerings, however, Visa’s VFC requires users to select the payment type before transactions. Payments giant Visa announced earlier this week it has expanded its Visa Flexible Credential (VFC) payment card to launch in both the U.S. and the U.A.E. The unique credit card allows users to pay from different account funding sources, ultimately offering cardholders more options and greater control over how they pay. In the U.S., VFC will roll out in partnership with buy now, pay later (BNPL) company Affirm. The BNPL company will use VFC for its Affirm Card. With 1.4 million consumers, the Affirm Card offers consumers flexibility to pay at the time of their transaction or pay over time in the Affirm app. “We’re excited about the partnership we’ve formed with Visa,” said Affirm CEO Max Levchin. “Since our founding, our mission has remained the same — build honest financial products that improve lives. Part of building better financial products also means giving consumers more control and flexibility, which has always been a key feature of the new Affirm Card. We look forward to bringing millions more people a product that seamlessly brings debit and credit together, without late or hidden fees.” In the U.A.E., the VFC card will launch in partnership with digital banking platform Liv, which will enable cardholders to access multiple currency accounts from a single card. The VFC will automatically route the transaction to the account with the selected currency. Cardholders can use the Liv mobile app to move money between local and foreign currency accounts. “At Liv we stay true to our promise of providing the most innovative products to our customers,” said Emirates NBD Chief Digital Officer, Retail Banking and Wealth Management, Pedro Sousa Cardoso. “As the UAE’s first digital bank, we are pleased to collaborate with Visa to offer our customers a simple, flexible card solution that better serves their evolving financial needs.” “Working with innovative partners like Affirm, Liv and SMCC helps us turn that idea into a reality. Together we’re enabling more ways to pay and adapting to the unique needs of consumers – wherever they are in the world, or in their financial journey,” said Visa Chief Product and Strategy Officer Jack Forestell. VFC first launched just over a year ago in Japan through a partnership with Sumitomo Mitsui Card Company (SMCC), which uses VFC to power its Olive card. Today, SMCC has more than three million cardholders using the Olive card, 70% of which use the card to toggle between different account funding sources like debit, credit, and prepaid. Visa plans to roll out its VFC to other geographies in the future. Overall, there are not many card companies competing on Visa’s VFC. COIN, a digital smart card that promised to replace all of the cards in consumers’ wallets, tried and failed in 2016. Today, the strongest competition in the multi-payment type card market comes from U.K.-based Curve, which offers a credit card that allows users to toggle between different payment cards. Unique to Curve, users can spare themselves from embarrassment at the point of sale with the Anti-Embarrassment mode that allows the payment to go through even if the card is declined (with restrictions). Curve also offers a Go Back in Time feature that enables users to change which card is used for a transaction up to 30 days after the fact.  With Visa’s VFC, however, cardholders must choose the funding source or payment type for their transaction before they initiate the purchase. It does not allow them to retroactively change the payment type or card type after a transaction is completed. Photo by Rann Vijay The post Visa Expands its Flexible Credential Card to the U.S. appeared first on Finovate.       

With digital rising to the preferred channel for audiences across the globe, it is more important than ever for firms to manage their brands’ digital presence. Organizations no longer need to just worry about sending out consistent messaging, they also need to ensure that the information that search platforms are sharing about them is correct and consistent in order to uphold their reputation Earlier this fall, Finovate Research Analyst David Penn spoke with Stuart Greer, VP of Enterprise Sales at digital presence platform Yext to get an idea of how the company not only helps brands manage their reputation, but also with managing information on data aggregators about their physical locations, setting up , and more. “One of the biggest things I’d say that large enterprise financial services companies deal with… is their online presence across all of the platforms, said Greer. “Yext is a digital presence platform that essentially helps multi-location businesses. When you think about multi-location businesses, you can think of banks, ATMs, wealth advisors, insurance agents– anyone who has that presence online.” Yext was founded in 2006 to help brands with multiple locations manage their digital presence. Companies can leverage Yext’s platform to ensure they deliver accurate, consistent information, while connecting with customers across the globe via digital channels. The New York-based company leverages AI to automate workflows at scale and provide actionable insights to do everything from enhance SEO to manage social media reputations. Michael Walrath is CEO. Photo by KATRIN BOLOVTSOVA The post Streamly Snapshot: Upgrading Your Digital Knowledge Management appeared first on Finovate.       

Payfinia has launched a new Credit Union Service Organization (CUSO) to help credit unions modernize their payments experience. The CUSO is launching in partnership with Star One Credit Union, which invested $4.5 million in the organization. Payfinia’s IPX platform will play a key role in the CUSO, helping organizations leverage FedNow to offer instant payments while providing fraud prevention. Payfinia, which was recently spun out of digital banking tools provider Tyfone, unveiled it has launched a Credit Union Service Organization (CUSO) called the Payfinia CUSO. The aim of the new Payfinia CUSO is to “support payments modernization solutions and embedded fraud controls through an open payments platform for credit unions and industry partners.” The launch comes in partnership with California-based Star One Credit Union, which invested $4.5 million in the organization. Star One Credit Union originally partnered with Payfinia parent company Tyfone to build Instant Payment Xchange (IPX), a payments-as-a-service (PaaS) framework to send and receive instant payments via FedNow. Interestingly, Star One Credit Union used IPX’s direct integration with Tyfone’s nFinia Digital Banking Platform to send the $4.5 million in Seed funding. Payfinia used IPX’s fraud prevention capabilities to tailor user controls and permit higher transaction limits, allowing the funding to be sent in $500,000 increments to its account at U.S. Bank. Each transaction settled in less than five seconds. “Star One is proud to support Payfinia and its vision of making instant payments accessible to all account holders in the U.S.,” said Star One CEO Gary Rodrigues. “The IPX solution empowers our members to take control of their cash flow. So far, the IPX solution has displaced 25% of same-day ACH transactions, with 53% fewer fraud losses compared to same-day ACH and an 83% reduction in operational overhead for P2P payment networks.” The IPX platform was originally launched by Tyfone in July of 2023 in conjunction with the Federal Reserve’s FedNow instant payment service. Since launch, IPX has converted nearly 30% of same-day ACH credit transactions into send transactions on push instant payment systems, routing existing payment solutions through networks like FedNow. As part of today’s announcement, Payfinia is also partnering with firms— including core processors, third-party digital platform providers, and fintechs— to help them leverage IPX to embed instant payment capabilities within their digital offerings. “Limited resources, legacy systems, fraud mitigation, and costs to implement new payment services are primary challenges that hinder community-based institutions from adopting instant payment capabilities,” said the Payfinia CUSO General Manager Keith Riddle. “Payfinia is building an ecosystem that overcomes these limitations, enabling an open-provider approach that meets the diverse needs of community financial institutions. The IPX platform provides institutions with scalable, effective and affordable payment solutions.” The launch of the Payfinia CUSO is a valuable addition to the CUSO landscape, as it will address the growing demand for instant payments and payment modernization among credit unions. Historically, credit unions have faced challenges in adopting real-time payment capabilities due to limited technological resources, legacy systems, and the high costs that come with upgrading technology. Because Payfinia’s CUSO is an open payments platform, it offers credit unions an approachable and affordable path to instant payments. The open-provider approach differentiates Payfinia’s CUSO from other CUSOs because it facilitates collaborations among core processors, digital platform providers, and fintechs. Photo by fauxels The post Payfinia Receives $4.5 Million from Star One Credit Union to Launch CUSO appeared first on Finovate.       

Paychex launched Paychex Funding Solutions, expanding its offerings into small business lending to give SMBs quick access to funds via invoice factoring. Paychex Funding Solutions supports B2B companies by providing capital based on customer creditworthiness to help them cover payroll, vendor payments, and growth needs. Paychex had previously offered small business funding in partnership with Biz2Credit. Payroll, benefits, and HR company Paychex announced its expansion into small business lending. Called Paychex Funding Solutions, the new offering gives small-and-medium-sized businesses (SMBs) fast access to the funds they need. The new lending product will offer businesses capital based on their total assets through invoice factoring. The solution is aimed to help B2B-focused companies meet payroll, pay vendors, and fuel growth. Applicants do not need to be a Paychex payroll client to qualify. “Lack of capital is the top reason that small organizations go out of business – and meeting payroll obligations can be one of the biggest hurdles, regardless of the economic climate,” said Paychex Senior Vice President of Operations and Customer Experience Liz Roaldsen. “Quick access to capital when a company needs it can be the difference between a business being able to remain open or closing its doors.” Paychex Funding Solutions offers an alternative to traditional bank loans, which often have difficult approval processes and restrictive obligations. The company’s streamlined underwriting and approval process makes decisions partially on the creditworthiness of a business’s customers. By leveraging the data around applicants’ customers, Paychex is able to service businesses that might not normally qualify for traditional loans. In addition to using unique data in its underwriting process, Paychex will also offer its small business lenders a one-on-one consultation to evaluate their goals and finances, access to a funding specialist for customized solutions, and a team to offer guidance and support on funding options. This is not Paychex’s first dip into the small business financing world. The company already offers users access to funding via a partnership with Biz2Credit, a revenue-based financing platform with a network of more than 1,200 lenders. Additionally, Paychex has a Paychex Promise membership service that provides payroll protection, business credit building tools, and more. Photo by Ketut Subiyanto The post Paychex Launches Alternative Lending Product appeared first on Finovate.       

Business payments platform MODIFI has secured $15 million in funding. The Series C round was led by SMBC Asia Rising Fund, and featured participation from existing investors Maersk, Intesa SanPaolo, and Heliad. MODIFI made its Finovate debut at FinovateEurope 2020 in Berlin, Germany. In a round led by SMBC Asia Rising Fund, B2B Buy Now, Pay Later platform MODIFI has raised $15 million in funding. The Series C round also featured participation from existing investors Maersk, Intesa SanPaolo, and Heliad. In addition to the investment, MODIFI and Sumitomo Mitsui Banking Corporation (SMBC) have signed a Memorandum of Understanding (MoU) to jointly advance digital solutions to support Asia-based SME exporters as they seek to grow their international trade operations. In a statement, the company underscored SMBC’s significant presence in the Asia-Pacific region, noting that SMBC brings capital and strategic alignment to the new relationship. “The funding underscores the strength of our business and the confidence our investors have in our vision for the future,” MODIFI CEO and Co-founder Nelson Holzner said. “As global commerce evolves, MODIFI is at the forefront, providing innovative solutions that empower businesses to scale and succeed across borders.” MODIFI, which stands for “Modern Digital Finance,” offers tools and solutions to optimize working capital and streamline cross-border payments. The company integrates advanced risk management with seamless payment processes to help businesses of all sizes expand their international operations. The fresh capital will help accelerate MODIFI’s expansion plans in high-growth markets such as China and India, where the company has already made inroads. A few weeks ago, MODIFI announced a strategic partnership with India’s Gujarat Industry Development Association (GIDA). This spring, the company announced a record year of business growth in China, with a 160x year-over-year increase in funding enabled for Chinese exporters. Together, SMBC and MODIFI plan to empower SMEs with new and innovative cross-border financial solutions via a series of joint initiatives, and to help these firms improve cash flow and expand their international reach. “Our mission is simple: We empower SMEs to compete and thrive in the global market with fast, flexible, and secure payment solutions,” Holzner said. “With this fresh funding, we’re set to redefine global trade finance — ensuring businesses of all sizes can unlock the liquidity and get the protection they need to grow internationally.” MODIFI made its Finovate debut at FinovateEurope 2020 in Berlin, Germany. At the conference, the company demonstrated its MODIFI Hub, which enables SMEs using MODIFI’s digital platform to check available limits, manage transactions, and request financing in less than 10 minutes. Founded in 2018, MODIFI serves more than 1,700 customers in 55+ countries. The company has facilitated more than $3 billion in global trade, and was recognized this year by the Financial Times and Statista as one of the fastest-growing European fintech companies. Photo by anna-m. w. The post MODIFI Raises $15 Million in Series C Funding appeared first on Finovate.       

After what seems like years of speculation, buy now, pay later (BNPL) leader Klarna has filed for its IPO with the U.S. Securities and Exchange Commission. The Sweden-based company is being quiet about details, however. Klarna released a five-sentence press release with very little color. “This press release is being made pursuant to, and in accordance with, Rule 135 under the Securities Act of 1933, as amended (the “Securities Act”), and shall not constitute an offer to sell, or the solicitation of an offer to buy, any securities,” the release plainly stated. “Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act.” Given its presence in the BNPL space, as well as its lofty valuation, which peaked at almost $46 billion in 2021, there has been a lot of interest in Klarna’s IPO plans. Here are five key things to know about Klarna’s IPO, what it signals for the market, and what it could mean for both investors and customers alike. The IPO has been in the works for years Klarna was founded in 2005 and first hinted at an IPO in 2019 in an interview with Bloomberg. At the time, company CEO Sebastian Siemiatkowski mentioned that the company was considering an IPO within the next one to two years, depending on market conditions. Since then, Klarna has seen significant growth. The company added to its BNPL tools in 2020 with the launch of its own shopping platform that hosts half a million retail partners who list goods across a range of categories. Today, Klarna’s retail site counts 150 million shoppers– 40 million of which are U.S. based– who make two million transactions on its platform each day. Overall, the company facilitates two million transactions per day for its 85 million active customers. Klarna’s valuation peaked at $46 billion, but won’t reach that figure at its IPO Klarna’s valuation has fluctuated over the past four years. At its peak, the company was valued at $46 billion in June 2021, making it the most valuable private fintech company in Europe. In 2022, however, the company’s valuation dropped to $6.7 billion. While Klarna has not disclosed the valuation it plans to reach for its pending IPO, Fortune estimates the company could earn a valuation of about $14.6 billion. This figure is based on a move that Klarna shareholder Chrysalis Investments made in October to increase the value of its stake in the company to £120.6 million ($154 million). Some of Klarna’s competition has already gone public Klarna’s eventual IPO will follow in the footsteps of some of its competitors in the BNPL space who have already made their public debuts. California-based Affirm went public on the NASDAQ in early 2021 and now holds a market capitalization of $17.7 billion, while Australia-based Afterpay was acquired by Square (now Block, Inc.) in a 2022 deal valued at $29 billion. Sezzle, which originally went public on the Australian Stock Exchange, listed on the NYSE in 2023. Block also owns BNPL pioneer Afterpay, which went public on the Australian Securities Exchange in 2016 before the $29 billion acquisition. Klarna’s regulatory heat will likely increase All across the globe, BNPL is not without its criticism. The payments technology has faced backlash because of its propensity to promote irresponsible spending habits. This has led to formal regulation in multiple countries, including the issuance of an interpretive rule from the U.S. Consumer Financial Protection Bureau earlier this year. As a public company, Klarna will be subject to a higher standard and will face greater scrutiny to not only comply with evolving regulations, but also to create and uphold higher standards of its own to protect its customers. Klarna is already ahead of regulation, however, as the company has already implemented features incluing spending caps, a transparent fee structure, and financial wellness tools. An IPO offers potential for growth Going public will offer Klarna access to additional capital that the company can use to fuel expansion. This is particularly important in the U.S., where it competes with Afterpay, Affirm, and PayPal’s BNPL offerings. The IPO may also enable Klarna to create additional revenue streams by launching more traditional products and personal financial management tools. This expansion could position Klarna into a global financial power player. Photo by appshunter.io on Unsplash The post 5 Facts About Klarna’s Long-Awaited IPO appeared first on Finovate.       

Western Union has launched its Media Network to help brands reach and engage with its diverse, multicultural customer base. In addition to providing brands with valuable insights and audience segmentation tools, the Media Network also allows companies to advertise through Western Union’s website, mobile app, in-store screen network, and digital channels. As part of a larger industry trend, Western Union joins Chase and PayPal in offering a media network, with each focusing on unique insights. Global money transfer platform Western Union unveiled plans for its Media Network business today. The new offering will allow companies to connect and engage with Western Union’s millions of diverse, multicultural users. “For more than a century and a half, people around the world have trusted Western Union as their means to connect across borders through the power of money movement,” said Western Union CMO Bob Rupczynski. “Our intimate knowledge and long-tenured relationships with our customers are unique differentiators and a driving force behind our new Media Network business.” The Western Union Media Network provides marketers with valuable insights into its clients, offering visibility into buyer personas and enabling the creation of targeted audience segments. By delivering multicultural brand messaging, the Media Network empowers brands to use this intelligence to engage consumers more effectively and enhance their products or services. Companies that tap into Western Union’s Media Network will have the opportunity to collect and analyze data about Western Union customers. Using this data, Western Union can create key targeting strategies, including customized data pulled from its Agent network, and data regarding customers’ cultural ties, to improve ad efficiency and build addressable audience segments. In addition to being able to access customer data, the Media Network will also allow brands to engage Western Union’s customers via the Colorado-based company’s website, mobile app, and at its digital out-of-home (DOOH) screen network that can be found at select retail locations. Audiences can also be reached through Western Union’s digital displays, online video ads, as well as commercials shown on TV networks and streaming services. “We are excited to offer this opportunity to brands as an extension to their existing marketing efforts, providing a new way to actively engage with consumers, enhance brand affinity, and unlock revenue. And for our customers, I am proud that we are able to provide compelling offers from relevant brands in channels they trust,” Rupczynski added. This isn’t the first time a financial services company has tapped customer data to launch a media network. Chase unveiled its Media Solutions arm earlier this year, while PayPal launched PayPal Ads last month. Part of a growing trend, each of these networks uses its reach and access to consumer data and insights to help brands target their preferred audiences. However, each differs in its specific approach and value proposition. For example, while Western Union is focused on offering data about users’ cross-border payment habits and preferences, PayPal’s ad network is more valuable for brands looking to reach online shoppers with a high intent to purchase. Chase Media Solutions’ ad network is a bit more similar to that of PayPal’s in that it uses first-party data from Chase cardholders to help brands create highly targeted campaigns. In contrast, Chase brings insight into customers’ purchasing behaviors across both online and offline settings, allowing brands to target based on spending categories and habits. Western Union is not a firm I would have expected to be the next to launch a media solutions network. However, with decades of data and a strong physical presence across the globe, it makes a lot of sense. Not only will the launch prove profitable for the company, but it will also position Western Union as more tech-savvy and digital-first than its competitors. Photo by Pixabay The post Western Union Launches Media Network appeared first on Finovate.       

Japan-based identity verification specialist Authlete introduced version 3.0 of its technology. The enhancements streamline the process of issuing and managing digital credentials, specifically interoperable verifiable credentials (VCs). Authlete made its Finovate debut at FinovateEurope 2020 in Berlin, Germany. Tokyo, Japan-based identity verification specialist Authlete has unveiled the latest version of its technology which streamlines the process of issuing and managing digital credentials. Authlete 3.0, launched earlier this month, will make it easier for entities such as financial institutions, governments, and educational organizations to issue interoperable verifiable credentials (VCs) via a straightforward API. What are VCs and why are they important? VCs are digital credentials whose authorship can be verified cryptographically. They are tamper-evident, which means that they are designed so that any alterations or modifications can be readily identified. This makes VCs more secure, more trustworthy, more portable, and easier to verify compared to physical identity documents or cards. Additionally, VCs give more power to the holder who can choose specifically which information to share in a given instance. Use cases for VCs include government-issued identity documents, reusable KYC verifications for banks, and more. Authlete’s new 3.0 upgrade provides organizations with an API that enables them to quickly issue interoperable VCs with support for OpenID for Verifiable Credential Issuance (OID4VCI). The standard is built on OAuth and OpenID Connect (OIDC) protocols, popular international standards for authorization and identity verification, respectively. It also supports a variety of credential formats, such as SD_JWT VC and mdoc/mDL. The technology’s support for both of these formats has been on display via a number of global pilot projects including EU Digital Identity (EUDI) and Japan’s Trusted Web initiative. Authlete 3.0 also features enhanced FAPI compliance, multi-tenant management, multi-region server options, social logins and multi-factor authentication, and granular access control. “We are dedicated to empowering organizations to build secure, user-centric, and interoperable digital identity infrastructures, while contributing to the development of a globally interoperable digital identity ecosystem,” Authlete Co-founder Takahiko Kawasaki said. Authlete made its Finovate debut at FinovateEurope 2020 in Berlin. More recently, Fanplus selected the company to implement OpenID Connect (OIDC) in support of its fan communication app. Fanplus plans, develops, and operates fan clubs and websites for musicians, and builds and operates e-commerce platforms for artist merchandise. In August, Authlete announced that sports and entertainment industry digital transformation specialist playground would use its technology for authentication and authorization infrastructure for its entertainment DX cloud platform, MOALA. Photo by Clay Banks on Unsplash The post Authlete Streamlines Digital Credential Issuance and Management appeared first on Finovate.       

Travelex is partnering with NCR Atleos to upgrade 600 ATMs across eight countries. Travelex will replace its old machines with NCR Atleos’ SelfServ ATMs equipped with advanced software and Vision, a SaaS monitoring tool. NCR Atleos will also facilitate Click and Collect functionality, which allows U.K. customers to pre-order currency online for fast, in-person pick-up at select airport ATMs. Foreign exchange and travel services company Travelex announced today it has selected NCR Atleos to replace a set of its ATMs. The new machines will replace Travelex’s old ones in locations across the U.K., Netherlands, Switzerland, Germany, Italy, Czech Republic, Australia, and New Zealand. In an effort to refresh its international ATMs, the U.K.-based company is swapping out the hardware and software of its 600 ATMs across eight countries. In their place, Travelex will put NCR Atleos’ SelfServ ATMs loaded with the company’s software and Vision, a SaaS monitoring tool. “Travelex is dedicated to simplifying our customers’ access to international money, however and whenever they choose, and our expanded partnership with Atleos directly supports this mission,” said Travelex Chief Customer Officer Simon Jackson. “By relying on the experts at NCR Atleos for the implementation of modern ATM technology, we gain efficiencies and streamlined operations while adding value for our customers, ensuring travellers across the globe have reliable, secure and easy access to their cash.” The new ATMs will not only be able to support domestic currency transactions, but they will also offer enhanced capabilities that leverage the machines’ touch screens and barcode readers. Some areas will also offer ATMs with contactless readers, which enable customers to make withdraws by tapping a card or an NFC-enabled phone or smartwatch. The SelfServ ATM also supports Travelex’s Click and Collect, a function to help U.K. customers pre-order foreign currency online at a favorable rate, then pick it up at one of 50 of Travelex’s airport ATM locations in the U.K. “We are making it possible for travelers to access currency exchange via self-service,” explained NCR Atleos Executive Vice President, Global Sales Diego Navarrete. “We are proud to support Travelex in enhancing their ATM infrastructure, ultimately continuing to expand financial access for consumers around the world.” This is not the first time the two have teamed up. NCR Atleos has powered Travelex ATMs in other markets in the past. NCR Atleos previously supported Travelex ATMs in other geographies at airports and travel hubs. Founded as NCR Corporation in 1881, the firm spun out NCR Atleos in October of 2023 to run as an independent company focused on ATMs. Headquartered in Atlanta, Georgia, NCR Atleos employs 20,000 people across the globe to facilitate hardware, software, and service for line of ATM-related technology. Travelex’s integration of features like contactless transactions, touch screens, and barcode readers will set a new standard for ATMs. This reflects the industry’s focus on both improving efficiency and enhancing the customer experience. Photo by Te lensFix The post Travelex Selects NCR Atleos to Revamp ATMs appeared first on Finovate.       

Digital banking solutions provider Alkami Technology has teamed up with Ohio-based credit union, Kemba Credit Union. Via the partnership, the financial institution will launch a new digital banking solution for its retail and business members. One of Finovate’s earliest alums, Texas-based Alkami Technology made its Finovate debut as iThryv in 2009. Digital banking solutions provider Alkami Technology announced a partnership with Cincinnati, Ohio-based Kemba Credit Union. The institution, founded in 1934, will leverage its relationship with Alkami to launch a new digital banking solution for its retail and business members. The fintech’s digital banking platform will give Kemba Credit Union members intuitive self-service tools, advanced fraud prevention, and a highly personalized experience. “Kemba’s successful launch and transition to the Alkami Platform is indicative of a strong partnership to come and we look forward to providing their retail and business members with exceptional digital banking resources,” Alkami VP of Client Experience Group Services, Shannon Marshburn said. The new platform will empower Kemba Credit Union to boost growth in deposit accounts, create new cross-sell opportunities, and foster greater loyalty. In addition to the platform itself, the credit union will benefit from access to Alkami’s software development kit (SDK) and APIs to further customize its digital banking platform to meet member needs and ensure connectivity to functionality throughout the fintech ecosystem. “We pride ourselves in providing our members with a high-quality, personalized banking experience that will further our mission to enrich their financial lives,” Kemba Credit Union President and CEO Dan Sutton said. “By partnering with Alkami, we are thrilled to expand that experience through a new digital platform. The launch and implementation of Alkami’s Platform exceeded our expectations, and we are impressed with the speed, look, and feel of the mobile application.” Kemba Credit Union serves more than 130,000 members in Southwest Ohio, Southeast Indiana, and Northern Kentucky. The institution transitioned to a new online and mobile banking platform earlier this year, and recently announced that it was offering the Ohio Homebuyer Plus Program. This program offers a specialized tax-advantaged savings account with above-market interest rates to support Ohioans looking to purchase a home. Named to Cincinnati.com/The Enquirer’s Top Work Places roster for the past six years in a row, Kemba Credit Union has more than $1.7 billion in assets. Alkami Technology made its Finovate debut in 2009 as iThryv. In the years since then, the Texas-based fintech has helped more than 800 financial institutions transform their digital banking offerings to meet growth goals, optimize the customer and member experience, and ensure regulatory compliance. Firms using Alkami’s banking platform for at least five years have experienced 25% higher loan growth, 19% higher revenue growth, and 11% higher core deposit growth relative to their peers. Earlier this month, Alkami announced that it had been listed as the top digital banking provider to the credit union market based on the total number of enrolled mobile users. The recognition comes courtesy of FI Navigator, a U.S. banking vertical data and analytics company. The announcement follows news that Alkami was named “Best Banking App” in October in Tearsheet’s The Big Bank Theory Awards. In October, Alkami teamed up a pair of regional financial institutions: Connecticut-based Nutmeg State Financial Credit Union and Montana-based Intrepid Credit Union. Photo by Dave Morgan The post Alkami Teams Up with Kemba Credit Union appeared first on Finovate.