DZ Bank partners Surecomp for collaborative trade finance platform
FinTech Futures » Canada
by Tyler Pathe
22h ago
DZ Bank in Germany is set to digitise several aspects of its trade finance operations by adopting Surecomp’s collaborative trade finance platform. DZ Bank picks Surecomp’s trade finance solution The Frankfurt-headquartered commercial bank is leveraging the vendor’s RIVO solution for “real-time corporate communication, transaction status transparency and accelerated trade finance issuance”, according to a statement. Integrated with Surecomp’s DOKA-NG solution for back-office trade finance processing, the platform is expected to enable “faster funding transactions” for buyers and suppliers ser ..read more
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Moldindconbank taps Salt Edge for PSD2 compliance in Moldova
FinTech Futures » Canada
by Tyler Pathe
4d ago
Moldindconbank has selected the Canadian open banking platform Salt Edge to bolster its compliance with the European Payment Services Directive (PSD2) in Moldova. Moldindconbank partners with Salt Edge for PSD2 compliance As one of the country’s largest full-service banks, Moldindconbank is to leverage the vendor’s open banking compliance solution to facilitate secure, regulated access to customers’ financial data alongside the integration of services by third-party providers (TPPs). Launched by Salt Edge in October 2018, the Software-as-a-Service (SaaS) solution is fitted with a suite of ac ..read more
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Former Temenos execs found GenAI banking tech start-up, yPilot
FinTech Futures » Canada
by FinTech Futures
1w ago
Two former Temenos executives, Todd Winship and Rayce Rossum, have co-founded a fintech start-up – yPilot – that focuses on GenAI technologies for financial institutions. yPilot will bring GenAI solutions to banks and credit unions Founded earlier this year and based in Vancouver, Canada, yPilot says it “leads the way in AI innovation for banks and credit unions”. Its “banking-specific, embeddable AI” platform aims to help financial institutions “to delight customers, combat fraud, and solve compliance”. Winship is the company’s CEO and Rossum is CTO. Rossum spent seven years at Temenos, sta ..read more
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Canadian fintech Zafin appoints Michael Nitsopoulos as new CPO
FinTech Futures » Canada
by Paul Hindle
1w ago
Zafin, a provider of Software-as-a-Service (SaaS) core modernisation and transformation solutions for banks headquartered in Vancouver, Canada, has named Michael Nitsopoulos as its new chief product officer (CPO). Zafin names Michael Nitsopoulos as its new CPO Nitsopoulos brings over 23 years of experience to the role and joins from US financial services giant PNC, where he served as senior vice president and engineering director of retail banking technology for over five years, leading its architecture, strategy, and innovation team of over 1,000 technologists and driving its strategic tech ..read more
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Business banking start-up Relay raises $32.2m in Bain Capital Ventures-led Series B
FinTech Futures » Canada
by Tyler Pathe
2w ago
Relay, an online business banking and money management platform based in Toronto, Canada, has raised around $32.2 million in a Series B funding round led by Bain Capital Ventures. Relay raises $32.2m Series B led by Bain Capital Ventures Supported by existing investors BTV, Garage and Tapestry, with new participation from Industry Ventures, the start-up says it will utilise the fresh financing to spur product development in areas of spend management, a financial API marketplace and “smart credit products”. Additionally, it says the raise is “the next step toward Relay’s overarching goal of d ..read more
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Former Stripe exec Gang Wang joins Nuvei as CTO
FinTech Futures » Canada
by Tyler Pathe
3w ago
Canadian payments processor Nuvei has hired Stripe’s former head of payment methods, Gang Wang, as its new CTO. Nuvei appoints Stripe’s Gang Wang as CTO Wang has been tasked with leading the fintech’s global technology team with Max Attias, who transitions to the role of CIO at Nuvei after almost six years as CTO. The company says the pair will combine the efforts of their respective teams to “further scale Nuvei’s technology offering and build a strong foundation for future growth”. Wang is expected to leverage his “deep knowledge of the payments and software sectors” in supporting Nuv ..read more
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AI-powered regtech Cube acquires global regulatory intelligence enterprises from Thomson Reuters
FinTech Futures » Canada
by Cameron Emanuel-Burns
1M ago
In a continuation of its acquisition streak, UK-based regtech firm Cube has purchased the Regulatory Intelligence and Oden products and businesses of Thomson Reuters. Cube acquires Thomson Reuters’ regtech units for undisclosed sum The transaction, the terms of which have not been undisclosed, is described as a “major step forward” in the firm’s “growth plans”. Through this acquisition, Cube claims that it will deliver an “expanded and comprehensive” array of “specialised regulatory intelligence and regulatory change services”, aiming to “set a new bar for the industry in regulatory automati ..read more
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President’s Choice Financial taps Temenos for retail core banking solution
FinTech Futures » Canada
by Cameron Emanuel-Burns
1M ago
President’s Choice Financial (PC Financial), the financial division of Loblaw Companies Limited, a Canadian food and pharmacy retailer, has partnered with Temenos as it looks to grow its banking business and offer more financial products for consumers. PC Financial to adopt Temenos’ retail core banking solution PC Financial is set to integrate Temenos’ retail core banking solution as Software-as-a-Service (SaaS) on Microsoft Azure, which Temenos says will enable the firm to “scale products faster and expand its banking proposition” on a “secure, continuously updated service”. Furthermore, th ..read more
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CIBC Mellon taps Duco for AI-powered data automation tech
FinTech Futures » Canada
by Tyler Pathe
1M ago
CIBC Mellon has partnered with UK-based Duco to implement AI-powered data automation technology into its asset servicing platform. CIBC Mellon partners Duco for AI data automation Founded in 1996 as part of a joint venture between Canadian Imperial Bank of Commerce (CIBC) and BNY Mellon, CIBC Mellon provides asset servicing solutions for banks, pension funds, foreign insurance trusts and other institutional asset managers. It claims to manage CAD 2.8 trillion worth of assets as of the last quarter. CIBC Mellon will now adopt Duco’s no-code data automation capabilities to help the firm “manag ..read more
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Mambu to power Canada’s Brunswick Credit Union amid MV Solar UK launch
FinTech Futures » Canada
by Tyler Pathe
1M ago
Brunswick Credit Union is transitioning to the Mambu cloud banking platform ahead of its legacy core’s end of life next year, among other industry developments involving the Dutch banking technology vendor. Mambu to power Brunswick Credit Union and MV Solar The Software-as-a-Service (SaaS) offering is set to power the credit union’s checking and savings accounts, mortgages and other lending functions for its retail and business members. Serving the Canadian province of New Brunswick, the credit union was formed in 2022 via a merger between Advance Savings Credit Union, Bayview Credit Union a ..read more
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