70% of financial institutions rely on AI and ML for fraud defence
FinTech Intel
by Robert Welbourn
12m ago
The Financial Institutions Revamping Technologies to Fight Financial Crimes survey revealed that financial institutions are becoming increasingly wary of fraudsters. 40% admitted that the number of fraud incidents they’ve seen are on the rise. They’re right to be concerned. Research by UK Finance found that £1.2bn was stolen by fraudsters in 2022, the equivalent of £2,300 every minute.  In order to combat this, many of the financial institutions surveyed for the report have adopted artificial intelligence (AI) and machine learning (ML) as part of their fraud prevention tools. Th ..read more
Visit website
Investing platform Robinhood set to launch new Gold credit card
FinTech Intel
by Robert Welbourn
16h ago
Following the launch of their investing debit card last year, Robinhood have launched their brand new Gold credit card. Available exclusively to members of the Gold tier of their investing platform, the card expands on their retail banking offering and allows Robinhood to gain further traction into everyday banking.  Most widely known for their US investment platform aimed at everyday investors, Robinhood have recently launched their platform in the UK. As well as this, they launched an investing debit card last year, taking the roundup formula used by challenger banks such as Monzo and S ..read more
Visit website
UK wealthtech Belong emerges from stealth with £3.4m funding
FinTech Intel
by Josh Poyser
16h ago
Belong, a new wealth-building platform, has launched after securing $3.4m in pre-seed funding, the largest pre-seed round ever raised by female founders in Europe.   Founded by former investment banker Avion Gray and behavioural economist Samantha Rosenberg, Belong aims to make wealth-building more accessible, with a focus on “professionally employed” millennials.   Octopus Ventures, Viola Fintech and Connect Ventures, alongside other angel investors, participated in the round.   “We need two things in order to build long-term wealth—time and money, but we rarely have both of th ..read more
Visit website
Paysend and Currencycloud sign major global expansion deal
FinTech Intel
by Robert Welbourn
16h ago
Currencycloud, experts simplifying business in a multicurrency world, and Paysend, a global fintech leader in international money transfers, have announced a major expansion to their longstanding partnership that will see Paysend expand its services around the world.  Following the deal, Currencycloud has become a key partner of cross-border money movement flows for Paysend across the US, EMEA, and Asia-Pacific. It also means that Paysend customers now have access to multicurrency wallets, which let users hold up to 34 currencies in the same app. Paysend customers will also access payment ..read more
Visit website
Svetlio Todorov on how to expand payments into new markets
FinTech Intel
by Guest Editorial
2d ago
Entering new markets can be a challenging move—it takes a lot of resources, time and investment. However, with estimations showing that by 2025 the global consuming class will grow to 4.2bn people, can you afford to fall behind? Facilitate cross-border transactions with popular payment methods  Retail is no longer restricted by geographic borders. Tapping into the cross-border market presents a huge growth opportunity for retailers to access billions of potential new customers. With the value of cross-border ecommerce expected to exceed $3.3trn in 2028, from $1.6trn in 2023, merchant ..read more
Visit website
Marco secures $12M funding to revolutionise LatAm trade finance
FinTech Intel
by Robert Welbourn
3d ago
Marco, the platform dedicated to serving SME exporters in Latin America, has announced the successful closure of a $12m Series A funding round led by IDC Ventures.  Founded in 2020 by Jacob Shoihet and Peter D. Spradling, Marco is committed to building the operating system for Latin American SME exporters engaged in cross-border trade. It does this in order to provide them with fast, easy access to financing, and is evolving to offer a comprehensive suite of services designed to address the unique challenges SMEs face.  This funding marks a significant m ..read more
Visit website
GoCardless to acquire payment platform Nuapay
FinTech Intel
by Josh Poyser
3d ago
Bank payment company GoCardless has agreed to acquire Sentenial, the payment services subsidiary of EML Payments, which operates globally under the Nuapay brand.   By incorporating Nuapay’s offering into its platform, GoCardless will fast-track the rollout of new disbursement capabilities to its customers and prospects.   This will enable the fintech to unlock new vertical sectors and use cases including payroll, financial services, utilities, insurance, gaming and gambling.   GoCardless helps businesses to collect both recurring and one-off payments. It processes more than $35b ..read more
Visit website
Nigerian paytech Zone raises $8.5m in seed funding
FinTech Intel
by Josh Poyser
3d ago
Payment infrastructure provider Zone has raised $8.5m in an oversubscribed seed funding round led by Flourish Ventures and TLcom Capital.   The new funding will enable Zone to further expand coverage of its network domestically and connect more banks and financial services companies. A portion of the proceeds will be allocated to conduct a pilot programme to test the company’s cross-border capabilities, scheduled for 2025.   Nigeria-based Zone offers a blockchain-based decentralised payment structure for financial services providers. Its network digitises fiat payments and enables th ..read more
Visit website
UK-based banking platform AccessPay closes $24m funding round
FinTech Intel
by Josh Poyser
6d ago
Banking platform Accesspay has announced a $24m equity and debt funding round led by True Ventures, a Silicon Valley-based venture capital firm. Manchester-based investment firm Praetura Ventures, NatWest, Mastercard, Route 66 Ventures and Beringea also participated in the round.   Manchester, UK-based AccessPay will use the latest round of capital to focus on profitable growth and increase its revenues sustainably. A portion of the funding will be used for the company’s research and development work. AccessPay also wants to develop its capabilities in fraud and error prevention, bank sta ..read more
Visit website
Establishing the best payment processes for affiliate programmes
FinTech Intel
by Josh Poyser
1w ago
It’s no secret that there is significant money to be made from affiliate marketing, across many business sectors from fashion to iGaming. But interest from carefully cultivated and highly engaged communities isn’t all it takes, ensuring affiliate marketers get paid for their efforts is, of course, key to success.  So, what should affiliates be on the lookout for when partnering with businesses?   Affiliate marketers have a lot to consider before the payouts stage and most advice out there focuses on the all-important factors of developing content, targeting audiences, growing co ..read more
Visit website

Follow FinTech Intel on FeedSpot

Continue with Google
Continue with Apple
OR