Digital Onboarding, an SaaS company based in Boston, helping more than 100 financial institutions deepen their customer relationships, announced it closed a $58 million growth investment from Boston-based growth equity firm Volition Capital. The investment follows rapid secular growth for Digital Onboarding as banks and credit unions increasingly seek out digital solutions to drive customer engagement and additional product adoption. According to the 2023 Future of Finance Report, 64% of customers do not have positive digital experiences in banking, and 39% say poorly integrated customer service tools are the primary cause of frustration. As a result, 25-40% of new checking…

The Commodity Futures Trading Commission’s Digital Assets and Blockchain Technology Subcommittee of the Technology Advisory Committee (TAC) released a report entitled Decentralized Finance. CFTC Commissioner Christy Goldsmith Romero, sponsor of the TAC, stated “From the time that I arrived at the CFTC, I have played a steady drumbeat that we need to study emerging issues related to digital assets or we could risk harmful unintended consequences. This report is the result of the hard work of the TAC Digital Assets and Blockchain subcommittee to study DeFi. It is intended to help inform ongoing policy debates in the U.S. Congress, state…

Hewlett Packard Enterprise and Juniper Networks, a leader in AI-native networks, today announced that the companies have entered a definitive agreement under which HPE will acquire Juniper in an all cash transaction for $40.00 per share, representing an equity value of approximately $14 billion. The combination of HPE and Juniper advances HPE’s portfolio mix shift toward higher-growth solutions and strengthens its high-margin networking business, accelerating HPE’s sustainable profitable growth strategy. The transaction is expected to be accretive to non-GAAP EPS and free cash flow in the first year post close. The acquisition is expected to double HPE’s networking business, creating…

Nu Colombia, a subsidiary of Nubank in the country, announced that the Financial Superintendence of Colombia (SFC) has officially approved its application to operate as a financing company. This achievement not only marks a significant milestone for Nu Colombia but also paves the way for the expansion of its product portfolio into savings with the upcoming launch of Cuenta Nu, a pivotal move for its long-term vision for the country. “Obtaining this license is the result of months of hard teamwork and represents a fundamental step in our journey in Colombia, as it enables the right regulatory framework to launch…

Canapi Ventures, a fintech venture capital fund backed by nearly 70 financial institutions and strategic investors across the United States, announced the raise of a $750 million Fund II. Canapi is backed by the Canapi Alliance, the fund’s network of strategic banks and financial partners institutions across North America, as well as institutional investors. This latest raise brings Canapi’s total assets under management to over $1.4B and will allow the Fund to continue to support the most innovative entrepreneurs and companies looking to create a sounder, more inclusive and equitable financial ecosystem. Core to Canapi’s value proposition is the delivery…

Canadian fintech firm Nuvei has announced a partnership with tech giant Microsoft to improve payment experiences for customers globally. This collaboration aims to introduce Nuvei’s payments technology to Microsoft’s product lines, including Office and Xbox, initially focusing on markets in the Middle East and Africa. The integration of Nuvei’s technology is expected to streamline Microsoft’s checkout processes, offering better payment options for recurring billing and individual transactions. Microsoft seeks to leverage Nuvei’s understanding of local market needs, enhancing customer payment experiences. This includes optimised authorisation rates, effective risk management to reduce false declines, and the latter’s ability to offer all…

Nasdaq announced the launch of a new technology that securely digitizes the issuance, settlement, and custody of carbon credits. It will be provided to market infrastructures, registry platforms, and other service providers globally. The service will support the development and institutionalization of global carbon markets. Despite being a relatively young market the carbon credit operating model is characterized by bilateral trading and a heavy reliance on manual interaction, providing limited ability to scale as the market develops. This inflexibility has also led to an absence of standardization – where credit data can be categorized and integrated into existing systems –…

Bullish, a new regulated, institutional digital assets exchange led by Tom Farley, a former NYSE president, announced that it has acquired CoinDesk, from Digital Currency Group (DCG). Bullish plans to invest in CoinDesk’s global expansion and the growth of the media, events, and indexing businesses. CoinDesk will continue to be led by Kevin Worth and the existing management team and operate as an independent subsidiary within Bullish. Terms of the transaction were not disclosed. “With its acclaimed editorial coverage, premier events and market-leading data and indices, CoinDesk continues to shape the global crypto and blockchain ecosystem,” said Tom Farley, CEO…

Volante Technologies, a global leader in cloud payments modernization, announced that it has secured $66 million in debt and equity financing in an investment round led by Sixth Street Growth. Wavecrest Growth Partners and Wells Fargo Strategic Capital also participated in the round. This latest round follows earlier funding milestones, including repeat participation from Wavecrest and Wells Fargo Strategic Capital and investment from BNY Mellon, Citi, Poste Italiane, and Visa Ventures, bringing the total outside investment in the company to $116 million. Vijay Oddiraju, CEO, Volante Technologies, commented, “We welcome Sixth Street Growth and its deep expertise supporting the growth…

Pay with Bank transfer, powered by American Express (“PwBt”), announces it has selected Nuvei, the Canadian fintech company, as its first acquirer authorised to promote and sell PwBt’s Open Banking-enabled payment method. The innovative payment method enables consumers to complete transactions seamlessly from their bank accounts, without having to enter card details or complete additional authentication checks. For merchants, PwBt delivers a frictionless payment where funds are reconciled instantly, with attractive processing fees. Nuvei will be promoting PwBt to both existing and prospective UK merchants, supporting them with the integration of the Open Banking payment method into their ecommerce platforms.…

QI Tech, the first Direct Credit Company (SCD) approved by the Brazilian Central Bank, announced an investment of US$200 million (R$1 billion) in a Series B round led by General Atlantic, with participation from existing investor Across Capital, which is doubling its initial investment in the company. QI Tech plans to leverage the new capital to further expand its leading product position and explore strategic M&A opportunities. Founded in 2018 by Pedro Mac Dowell, Marcelo Bentivoglio, and Marcelo Buosi, QI Tech is transforming the credit market by simplifying the loan process, with a mission to decentralize credit away from major…

Trulioo, a global identity verification platform, announced that J.P. Morgan Payments has selected the Trulioo global identity platform to help J.P. Morgan Payments clients combat fraud and other financial crimes. As part of the agreement, J.P. Morgan Payments will use Trulioo services for global person and business verification to support a simplified, frictionless payments experience. “Trulioo has the trusted authentication and verification experience we want to offer clients and additional layers of protection from fraud during the onboarding experience and beyond” said Ryan Schmiedl, Managing Director – Global Head of Trust & Safety for J.P. Morgan Payments. As a leading…

Nuvei Corporation, the Canadian fintech company, announces that it has been selected by Curve, the fast-growing financial super app that consolidates your cards into one smart card, to provide card acquiring and alternative payment methods (APMs) for consumer transfer of funds to and from their Curve digital wallet. Nuvei’s agile, customizable, full stack payments technology enables the fintech app and card issuer to accept VISA and Mastercard transactions. Card payments are optimized through Nuvei’s smart routing engine to maximize card payment acceptance and reduce operating costs. All the relevant APMs in each market Curve operates will be available to Curve…

J.P. Morgan Payments’ Pay-by-bank solution, which provides billers with the ability to allow their customers to pay bills directly from their bank account, is now live. Leveraging Mastercard’s open banking technology to enhance J.P. Morgan Payments’ ACH capabilities, Pay-by-bank offers payment choice and provides a simple, secure and frictionless experience for billers to offer to their customers. Verizon is planning to pilot J.P. Morgan Payments’ Pay-by-bank offering with U.S. customers in the coming months. “This innovative payment option aligns with our commitment to providing our customers with convenient and secure payment choices. We believe that Pay-by-bank will enhance the overall…

Hong Kong based Airwallex, announced it has signed a definitive agreement to acquire MexPago, a Mexico-based payment service provider and an Institution of Electronic Payment Funds (IFPE) license-holder. The transaction is subject to regulatory approvals and customary closing conditions. This acquisition will enable Airwallex to expand its financial infrastructure into Latin America and advance its mission to empower and support businesses to grow and operate across borders. It is an important part of Airwallex’s broader growth strategy in the Americas, where the company has seen more than 460% YOY revenue growth. Luis Castillejos Ordaz, CEO of MexPago, said, “Airwallex’s ability…

Prove Identity, a digital identity solutions provider, has announced a $40 million funding round led by MassMutual Ventures and Capital One Ventures. The new funding, supported by over 40% new international customer growth year to date, reinforces Prove’s position as the global leader in the digital identity verification and authentication market. The funds will be used to launch new commerce enablement and fraud-fighting use cases, continue Prove’s global expansion, and address the evolving threats faced by all public and private institutions operating in the digital economy.‍ “As our daily lives become increasingly digital, Prove’s mission is to be the global…

Albo, a neobank in Mexico, announced the successful closure of its recent US$40 million growth funding round. This follows closely on the heels of albo’s strategic acquisition of the technology firm delt.ai for US$20 million. Despite the challenges posed by the global financial landscape, albo’s exceptional performance positions the company for profitability in 2024. United States-based Morpheus Ventures led the financing, which included significant participation from previous investors such as US-based Valar Ventures and Mexico-based Nazca Ventures. The fund raise marks a pivotal milestone in albo’s journey. “We are very impressed with albo’s performance in a challenging environment. albo delivered…

North America is home to one of the world’s largest and most developed fintech ecosystems. The US, with its dynamics hubs of New York City and Silicon Valley, is a driving force in the sector. Canada, meanwhile, is witnessing its city of Toronto emerging as a prominent tech powerhouse. The growth of fintech in North America is being enabled by the region’s ability to attract vast amounts of investment, a feature that has allowed it to consistently account for the largest share of fintech investment globally. The region also boasts a rich environment for tech-driven innovation that’s enabled for the…

After 18 months of decline, the US venture capital (VC) investment landscape is showing signs of stabilization and returning to 2019-2020 levels, new data released by Silicon Valley Bank (SVB) show. In H2 2022 and H1 2023, VC investments in US companies totaled US$182 billion, the H2 2023 State of the Markets report says, reaching sums witnessed in 2019 and 2020. Although SVB notes that there have been predictions of drops in fundraising based on key indicators such as inverted yield curve, falling corporate profits, increased down rounds and declining revenue growth among startups, the bank is confident in the…

Jumio, a provider of identity verification solutions, has been recognized as a Representative Vendor in the latest Gartner Market Guide for Identity Verification. This is the fifth consecutive year that Jumio has received this recognition. Vendors are selected for the Market Guide based on a number of criteria, including their capabilities and their representation of particular market segments or geographic regions among others. The Market Guide notes, “The purpose of identity verification is to establish confidence in the identity of a user during a digital interaction. As a result, across all geographies and industries, the use cases in which identity…