Alibaba Cloud, the digital technology and intelligence arm of Alibaba Group, has officially launched its first cloud region in Mexico. This marks a significant step in its efforts to support Mexico’s digital transformation and strengthen its presence in Latin America. The new infrastructure aims to provide businesses, startups, developers, and organisations with secure, scalable cloud services, enhancing growth and innovation opportunities in the region. With this launch, Alibaba Cloud now operates 87 availability zones across 29 regions. “The launch of our Mexico Region underscores our long-term commitment to serving this vibrant market,” said Selina Yuan, President of International Business, Alibaba…

Betterment, a US-based digital investment advisor, has acquired the automated investing business of Ellevest, a financial services firm focused on women. The transaction does not include Ellevest’s other accounts, technology, employees, or operations. Betterment, headquartered in New York, serves over 900,000 customers across the US and manages more than US$55 billion in assets. This follows its previous acquisitions of Wealthsimple’s US advisory accounts in 2021 and Goldman Sachs’ Marcus Invest accounts in 2024. “This acquisition further cements our leadership in the digital investing space,” said Sarah Levy, Betterment CEO. “We look forward to welcoming Ellevest’s clients to Betterment and to…

Dock, a Brazil-based banking and digital payments company, and Credibanco, a Colombian electronic payments firm, have partnered to support Bre-B, a new instant payments system launched by Colombia’s Banco de la República. The initiative aims to enhance the country’s payment infrastructure by enabling secure, real-time transactions for businesses and individuals, operating 24/7. Scheduled to launch in September 2025, Bre-B is designed to lower transaction costs, eliminate waiting times, and improve cash flow management. The system will utilise keys and QR codes to facilitate access for unbanked individuals and businesses while maintaining stringent security standards to minimise fraud and promote financial…

Snowflake, an US based cloud-based data platform specialising in data storage, processing, and analytics, has announced an expanded partnership with Microsoft to integrate OpenAI’s models into Snowflake Cortex AI, its fully managed AI service. This integration, enabled through Microsoft Azure OpenAI Service in Azure AI Foundry, will allow enterprises to build AI-powered applications and data agents using OpenAI’s models within Snowflake on Microsoft Azure regions. Christian Kleinerman, EVP of Product at Snowflake, stated, “We’re expanding our long-standing partnership with Microsoft to deliver the best of OpenAI’s innovations directly to our customers, further advancing our promise to bring easy, efficient, and…

Salesforce, a cloud-based software company headquartered in San Francisco, has announced an expansion of its strategic partnership with Google, aiming to provide businesses with greater flexibility in developing AI-powered agents. This collaboration will allow Salesforce customers to build Agentforce agents using Google’s Gemini models and deploy Salesforce on Google Cloud. The initiative builds on their existing partnership, which facilitates seamless data sharing between Google BigQuery and Salesforce through zero-copy technology. Srini Tallapragada, Salesforce President & Chief Engineering and Customer Success Officer, stated, “Through our expanded partnership with Google Cloud and deep integrations at the platform, application, and infrastructure layer, we’re…

N5, a multinational technology company headquartered in the US and focused on the financial sector, has secured a US$20 million investment to advance its AI solutions and expand its global presence. The funding will support the development of its AIfred, Pep, and Singular platforms, aimed at optimising financial and insurance operations. The investment round includes new backers Alexia Ventures, a software and AI-focused fund in Latin America, and Scale-Up Ventures, Endeavor’s venture capital fund. Existing investors include Illuminate Financial, Exor Ventures, Madrone Capital Partners, LTS Investments, Arpex Capital, and Overboost. N5, which operates in 18 countries with clients such as…

Openbank, the fully digital bank of Spain’s Grupo Santander, has launched in Mexico, offering a range of everyday financial products. The bank, which has received around 30,000 requests to join its waiting list in recent weeks, now welcomes its first customers, who can sign up within five minutes. With a fully digital approach, Openbank combines elements of a fintech with a broader range of banking products. It provides 24/7 customer support and access to over 10,000 Santander ATMs across the country. Its technology platform is designed to simplify financial management, while its cost-efficient structure enables it to offer competitive savings…

In the US, digital banking has firmly entered the mainstream, embraced by consumers for its convenience and ease of use. According to an October 2024 study by Morning Consult on behalf of the American Bankers Association, 55% of US consumers now conduct their banking via mobile apps, making these the most popular baking method in the country. Mobile apps are followed by online banking via laptop or PC, with 22% of bank customers reporting usage in the past 12 months, reflecting US consumers’ preference for digital banking. This widespread adoption reflects high customer satisfaction. An impressive 96% of consumers rate…

Mastercard is working with the EV ecosystem to address fragmentation in charging payment experiences, advancing technology and establishing common payment standards. Despite speculation about the slowdown of EV adoption, global sales of fully electric and plug-in hybrid vehicles rose by 25.6% in 2024, reaching over 17 million units. In North America, sales increased by nearly 9%, supported by expanding public charging networks, improved battery performance, and government incentives. However, inconsistent payment systems remain a challenge, with car manufacturers and charge point operators using proprietary platforms. To address this, Mastercard is advocating for an open-loop payment system, enabling drivers to use…

Shift4, an integrated payments and commerce technology company based in Allentown, Pennsylvania, has entered into a definitive agreement to acquire Global Blue, a specialty payments and technology platform headquartered in Switzerland. Under the agreement, Shift4 will purchase Global Blue for US$7.50 per common share in cash, representing a 15% premium to Global Blue’s closing share price as of 14 February 2025, with an enterprise value of approximately US$2.5 billion. “This acquisition continues a bold tradition of introducing transformative capabilities to exceptional customers along with a massive embedded cross-sell opportunity,” said Shift4 President Taylor Lauber. “It fits perfectly in the Shift4…

QuEra Computing, a Boston-based company specialising in neutral-atom quantum computing, has secured over US$230 million in funding to advance the development and production of large-scale, fault-tolerant quantum computers. The funding round includes new investors such as Google, SoftBank Vision Fund 2, and Valor Equity Partners, alongside existing investors like QVT Family Office and Safar Partners, all of whom participated. Of the total sum, US$60 million will be disbursed upon meeting a pending funding condition. “This round represents a significant milestone for QuEra as we continue to deliver on our promise of scalable, fault-tolerant quantum computing,” said Andy Ory, Interim CEO…

Sardine, based in San Francisco, has secured US$70 million in Series C funding, led by Activant Capital. This latest investment brings the company’s total funding to US$145 million and will accelerate efforts to strengthen fraud prevention and compliance capabilities for financial institutions and businesses worldwide. Founded in 2020, Sardine was established to address the growing challenges in fraud detection and compliance as financial transactions become faster and AI-driven scams more sophisticated. With the latest funding, Sardine is further developing its suite of AI agents designed to enhance fraud detection and compliance workflows. These AI agents automate key risk functions while…

Klarna has entered into an agreement with J.P. Morgan Payments to integrate its Buy Now, Pay Later (BNPL) options into J.P. Morgan Payments’ Commerce Solutions Platform. This marks the first time Klarna’s BNPL services will be available to businesses using J.P. Morgan Payments for payment processing. J.P. Morgan Payments handles over US$2 trillion in transactions annually. The partnership aims to expand Klarna’s reach by making its payment methods, including interest-free BNPL and flexible financing, accessible to more businesses. The integration is set to launch later this year. “By collaborating with J.P. Morgan Payments, we’re bringing our payment solutions to even…

SolarWinds, a provider of observability and IT management software, has announced that it has entered into a definitive agreement to be acquired by Turn/River Capital in an all-cash transaction valued at approximately US$4.4 billion. Shareholders will receive US$18.50 per share, representing a 35% premium on the volume-weighted average closing price of SolarWinds stock over the past 90 trading days ending 6 February 2025. Sudhakar Ramakrishna, President and CEO of SolarWinds, stated: “We have built a strong record of supporting customers in their business transformations through solutions designed for hybrid and multi-cloud environments. We now look forward to working with Turn/River…

TaxGPT, an artificial intelligence-powered assistant designed for accounting and tax firms, has secured US$4.6 million in funding. The investment comes from Rebel Fund, Mangusta Capital, Y Combinator, Launch, iSeed Ventures, Converge Fund, TRAC AI/VC Unicorn Fund, Goodwater Genesis, CRV Disrupt Fund, and Principal Venture Partners. Notable individual investors include Kulveer Taggar, Jason Calacanis, and the co-founders of Truebill. The funding will be used to advance product development, expand sales and marketing, and hire additional engineering staff. Research suggests that tax complexity costs Americans US$260 billion annually. Additionally, the industry is expected to experience significant workforce challenges, with over 75% of…

Cboe Global Markets (Chicago Board Options Exchange) has submitted four separate 19b-4 applications to the US Securities and Exchange Commission (SEC) to introduce spot XRP exchange-traded funds (ETFs). The filings, made on behalf of WisdomTree, Bitwise, 21Shares, and Canary, represent a key step towards securing regulatory approval for these investment products. These applications follow the issuers’ S-1 filings, moving the proposals closer to regulatory review. Once the SEC acknowledges receipt, the agency has up to 240 days to assess and determine whether to approve or reject the ETFs. Ripple CEO Brad Garlinghouse reacted to the filings with a clock emoji,…

South America’s fintech industry has experienced remarkable growth and transformation over the past years, driven by technological innovation, regulatory advancements and a focus on financial inclusion. South America, which includes 12 sovereign states among which Argentina, Bolivia, Brazil, Chile and Colombia, was home to nearly 3,000 fintech companies in 2023, up from less than 700 in 2017. Brazil led the region, with approximately 20% of these firms, followed by Colombia, Argentina and Chile. Collectively, these countries accounted for more than half of all fintech companies in South America. This ecosystem has risen on the back of evolving regulatory frameworks designed…

Yuno is introducing Mastercard Payment Passkey Service in Latin America, enabling merchants in Brazil, Argentina, and Chile to improve online checkout processes, enhance fraud protection, and reduce cart abandonment rates. Fraud remains a major challenge in Latin America, where e-commerce merchants lose over 4.6% of revenue to payment fraud. Fraud attempts in the region rose by 32% in 2024—the highest increase globally. Mastercard Payment Passkey Service enhances transaction security by using biometric authentication, such as fingerprints and facial recognition, instead of one-time passwords (OTPs), which are vulnerable to scams like phishing and SIM swapping. The service also employs tokenisation technology…

North America, encompassing the US, Canada and Mexico, stands out as a leading hub for fintech innovation. The region is home to some of the largest fintech companies in the world, and consistently attract the lion’s share in fintech funding, cementing its leadership position on the global fintech scene. This dynamic landscape has fueled the rise of prominent industry events in the region, serving as key platforms for industry stakeholders to network, stay up-to-date with the latest trends, and showcase cutting-edge fintech solutions. As we step into 2025, we look today at some of the biggest fintech events taking place…

Brazil stands out as the leading fintech hub in Latin America (LatAm). The country boasts the highest number of fintech companies across the region, hosting over 700 startups in the sector and accounting for 24% of all of LatAm’s 3,000+ fintech ventures, according to research by the Inter-American Development Bank (IDB) and Finnovista. Brazil has also produced some of LatAm’s largest and most successful fintech firms, among which digital banking giant Nubank, one of the most prominent fintechs globally. In 2024, Brazil maintained its dominance in the region’s fintech scene, with startups in the sector securing US$1 billion in venture…