Author: Fintech News America

Crypto.com has announced the launch of its institutional-grade Crypto.com Exchange in the United States. This new offering complements the existing Crypto.com app, which is already available for US retail users. Kris Marszalek, Co-Founder and CEO of Crypto.com, shared, “After testing an early version of the Crypto.com Exchange in the US back in 2022, we made significant investments to enhance its technology and banking systems. These efforts have driven remarkable global growth, making us the top USD-supporting crypto exchange. We’re excited to now fully launch this product in the US, a market we strongly believe in.” With the Crypto.com Exchange, users can…

Highnote has closed a US$90 million Series B funding round led by Adams Street Partners, with participation from existing investors Oak HC/FT, Costanoa, WestCap, and Pinegrove Venture Partners. With this funding, Highnote has launched a new acquiring solution, allowing businesses to accept and process payments on the same platform where they issue cards. This unified system simplifies financial transactions, saving time and money for businesses by using a single, centralised ledger. The new solution lets companies accept online payments through plug-and-play tools or custom integrations. Built by the team behind Braintree, it directly connects with major payment networks, improving transparency,…

Airwallex has secured a payment institution license from the Banco Central do Brasil and acquired MexPago, a Mexico-based payment service provider with an IFPE license. “Our infrastructure strategy is to connect diverse and strategically significant markets around the world,” said Ravi Adusumilli, President of Americas at Airwallex. “With licenses in Brazil and Mexico, we can help companies in Latin America expand and thrive across borders, while also helping businesses around the world operate more seamlessly in these two dynamic economic markets.” While Brazil leads in payment digitisation, with PIX projected to account for 40% of online payments by 2026, its…

NCR Atleos Corporation announced that $1.1 billion-asset nbkc bank has selected Atleos’ Allpoint Network to expand access to everyday banking transactions for its customers. Based in Kansas City, nbkc sought an efficient way to enable customers to conduct transactions at convenient retail locations nationwide. By joining the Allpoint Network, nbkc now offers surcharge-free access to 55,000 ATMs worldwide, in addition to the ATMs already available, and provides cash deposit capabilities at over 3,000 locations. “We aimed to leverage intuitive technology to enhance convenient and exceptional customer experiences. “Our collaboration with Atleos extends our branch network by providing greater access to…

In Latin America and the Caribbean (LAC), fast payment systems (FPS) are transforming the banking landscape, driving financial inclusion, enhancing efficiency, and improving consumer convenience. Among the 15 FPS launched across the region, Costa Rica’s SINPE Móvil stands out as a success story. The system has significantly helped increase the number of individuals with bank accounts, reduce ATM transactions, and accelerate the transition away from cash-based transactions, underscoring the pivotal role of FPS in creating a more inclusive and digital financial ecosystem, according to a recent report by the Bank for International Settlements (BIS) says. The paper, released in December…

OnPay, a payroll, HR, and benefits platform based in Atlanta, has secured over $100 million in funding. This includes $63 million in Series B funding led by Carrick Capital Partners, with contributions from AB Private Credit Investors and existing backers, plus additional funding from MC Credit Partners. The new funds will help OnPay improve its products, grow its partnerships, enhance customer support, and expand its services for small and mid-sized businesses across the U.S. “This funding is a big step forward and will help us deliver even more value to the businesses that depend on us,” said OnPay CEO, Jesse…

The Consumer Financial Protection Bureau (CFPB) has officially recognised Financial Data Exchange, Inc. (FDX) as a standard-setting body under its Personal Financial Data Rights rule. This rule, introduced in October 2024, requires financial institutions to allow consumers to transfer their financial data to other providers for free. FDX, which operates in the U.S. and Canada, includes over 200 member organisations such as banks, data providers, aggregators, service providers, and consumer groups. Its goal is to develop secure, interoperable standards for consumer and business access to financial records. The CFPB’s recognition of FDX comes with several conditions aimed at ensuring fairness…

Ryan, a Texas-based tax services and software provider, has successfully completed its CAD $700 million acquisition of Altus Group Limited’s property tax services business. Altus, a Canadian-based company, is known for its focus on property tax management. The deal also includes Altus’s itamlink property tax management software. This acquisition expands Ryan’s global capabilities by establishing a property tax presence in the United Kingdom and strengthening its reach across Canada and the United States. With approximately 1,000 Altus team members joining Ryan, the company enhances its ability to deliver comprehensive tax services. In 2023, Altus Group’s property tax services business generated…

Thomson Reuters has bought SafeSend for $600 million. SafeSend, based in the U.S., provides cloud-based software for tax and accounting professionals. Founded in 2008, SafeSend automates the final steps of tax return preparation, including assembly, review, e-signatures, and delivery, helping users save time on manual tasks. It is used by many accounting firms, including 70% of the top 500 firms in the U.S. The company is based in Michigan with 235 employees. This acquisition helps Thomson Reuters improve its offerings for tax and accounting professionals by streamlining workflows for both tax preparers and clients. Thomson Reuters plans to keep SafeSend…

Lumin Digital, a San Francisco based cloud-native digital banking provider, announced it has raised over $160M in growth equity financing, led by Light Street Capital, NewView Capital, and Partners Group, acting on behalf of its clients. Lumin Digital plans to leverage the funding to accelerate its strategic growth initiatives, focusing on innovation and driving greater value for financial institutions, their members, and shareholders. “This is a powerful endorsement of Lumin Digital’s impact on the industry and enables us to expand our product offerings while preserving our culture of delivering exceptional value to our clients and their members,” said Jeff Chambers,…

R2, a Latin America’s embedded finance platform, announced that it has secured an investment round of US$9 million from Hi Ventures and Cometa in addition to a debt facility for up to US$50 million with Community Investment Management (“CIM”). Endeavor Catalyst, Y Combinator, and Gradient Ventures also participated in the equity round. The round is an extension of R2’s Series A completed in 2022. The debt facility will be used to fund R2’s growth in Chile and complements the US$100 million debt facility raised last year for its Mexican operation. R2 enables platforms such as payment processors, marketplaces, ride-hailing apps, and vertical SaaS with embedded financial services for…

NatWest Group, one of the UK’s largest banking organisations, has partnered with NCR Atleos to upgrade its self-service banking network, encompassing both owned and partner-operated ATMs. This initiative, impacting brands such as NatWest Bank, Royal Bank of Scotland, and Ulster Bank, will see over 5,500 ATMs and multi-function devices replaced with NCR Atleos technology. The new machines will feature a modern 19-inch touchscreen interface with an enhanced customer interface, aiming to provide NatWest Group’s 19 million customers with more reliable and convenient access to cash and essential financial services. Beyond enhancing the customer experience, the project seeks to improve operational…

Neo Financial, a Canadian financial technology company, announced their CAD $360 million Series D fundraising round, consisting of CAD $110M of equity and CAD $250M of debt. This round of funding includes investments from renowned Canadian founders and entrepreneurs bringing in their wealth of experience in scaling global tech brands, including Tobi Lütke (CEO and founder of Shopify), Stewart Butterfield (founder and former CEO of Slack), David Baszucki (investor and CEO of Roblox), and Mike Wessinger (co-founder and Executive Chair of PointClickCare). Existing investors, including Valar Ventures, Golden Ventures, Afore Capital, and Thomvest Ventures, also participated in this round. “Neo…

Banco de Crédito del Perú (BCP) has partnered with Microsoft and Kyndryl to modernize BCP’s IT systems with hybrid cloud and help Peruvians gain greater access to digital banking services. This agreement represents BCP’s investment of more than $650M over five years, making it one of the largest technology investments in Latin America’s financial services sector. “Our purpose is to serve as allies to our customers to help them transform their plans into reality, understanding that financial inclusion provides opportunities for growth. Digitalization can help close the gap, and so BCP, together with Microsoft and Kyndryl, will modernize our technological…

Melio, a leading accounts payable and receivable platform for small and medium businesses, announced it has raised an additional $150 million in a strategic funding round led by Fiserv. Shopify Ventures and Capital One Ventures also participated in the funding round, which will help fuel the company’s growth through partnerships. The Series E round, which valued Melio at $2 billion, follows a ten-fold increase in revenue since the last funding round three years ago, driven by an expansion of Melio’s customer base to include medium-sized businesses and the launch of new partnerships. Accel, Bessemer, Coatue, Frontline Ventures, General Catalyst, Latitude…

Socure, an US based provider of artificial intelligence for digital identity verification, fraud prevention and sanction screening, has signed an agreement to acquire Effectiv, a real-time risk decisioning company, for $136M. Effectiv’s open platform integrates any risk solution, including identity and payment fraud controls, credit underwriting, Know Your Business (KYB) and anti-money laundering (AML), to drive real-time decisions that solve the toughest risk challenges of our time – identity theft, account takeover, scams, and real-time payment fraud. With this acquisition, Socure – which serves more than 2,700 customers and has verified more than 2.26B identities over the past 12 months…

OpenWay has introduced a new payment software solution for North and Latin America, aimed at assisting banks, credit unions, processors, and fintechs in upgrading their payment systems. The Way4 platform, recognized by Aite and Juniper Research, provides functions for issuing, acquiring, payment switching, and digital wallets. It is designed to help financial institutions move away from legacy payment processing systems. The platform’s flexible architecture allows institutions to launch personalized payment services efficiently. It supports a range of payment technologies, including real-time payments, Buy Now, Pay Later (BNPL), embedded finance, and central bank digital currency (CBDC) cards. The Way4 platform features…

Tompkins Community Bank, with US$7.8 billion in assets and nearly 190 years of operation, has expanded its partnership with NCR Atleos. The bank has chosen to modernize its ATM network with NCR Atleos’ ‘ATM as a Service’ (ATMaaS) solution. This move allows the New York-based bank to focus on customer service by handing over ATM management to Atleos. This includes hardware and software maintenance, security, cash handling, installation, processing, and logical security, to Atleos. By simplifying these operations, Tompkins aims to improve ATM reliability, uptime, and functionality, offering customers a better banking experience. “Tompkins has a rich history and an…

Citi announced that its Citi Token Services for Cash has moved from a pilot program to a live commercial solution, facilitating multimillion-dollar transactions for institutional clients. This marks a major step in Citi’s journey to deliver real-time, always-on transaction banking services. The service provides 24/7 cross-border liquidity and payments between participating Citi branches using a private, permissioned blockchain owned and managed by Citi. Clients are not required to hold or manage any tokens to use the service. Initially piloted between Singapore and New York, Citi plans to expand the service to additional branches. In a separate development, Citi also announced…

In the world of financial technology (fintech), customer service and back-office operations are undergoing massive changes, driven by advancements in technology and a rapidly evolving regulatory landscape. While many fintech companies have looked offshore to countries like India and the Philippines for cost-effective outsourcing solutions, the United States remains a critical player in the outsourcing market. Cynergy BPO, an industry-leading outsourcing advisory firm, argues that onshore customer and back-office support in the U.S. still holds a unique and irreplaceable advantage for certain processes and engagement with specific customer segments—particularly those in the highly regulated and customer-centric fintech sector. The Case…