Category: digital currencies

Card and financial app Curve has secured a $1 billion USD credit line from Swiss bank Credit Suisse, the company announced Tuesday.  London-based Curve, founded in 2015, plans to use the funding to expand its Curve Flex product, which consolidates cards and accounts into one app, in Europe and the U.S., according to a release.…

Tech companies including Amazon, Chime, FIS, Plaid, Stripe and Zilch have announced staffing cuts as economic uncertainty presents risks for the new year. 2023 will encompass “another year of below-potential growth and labor market rebalancing to solve much but not all of the underlying inflation problem,” according to Goldman Sachs’ 2023 U.S. Economic Outlook: Approaching…

What innovations are making their way to the payments space in the U.S.? How will the new FedNow Service impact the current payments infrastructure when it goes online in 2023? What can fintechs do to prepare themselves and get involved with a post-FedNow payments landscape? This year at FinovateFall, we talked with Bernadette Ksepka, Assistant…

Fixed income technology innovator bondIT has raised $14 million in new funding. The investment round was led by BNY Mellon and brings bondIT’s total equity capital to more than $32 million. bondIT made its Finovate debut at FinovateFall in 2016. Credit analytics and fixed income technology company bondIT has raised $14 million in new funding.…

Wells Fargo launched its new AI-powered digital banking platform Vantage on Monday to create a more customized banking experience for its commercial, corporate and investment clients. Vantage allows for personalization using AI and machine learnings (ML) and is able to connect back to legacy data, Reetika Grewal, executive vice president and head of digital transformation,…

Europe’s fintech giants were built on the promise of new ways to do finance. Under pressure from rising interest rates and nervous investors, their next steps are looking more like tried-and-tested traditional banking. Dutch payments firm Adyen NV began lending to small companies this year following US-Irish rival Stripe, while the UK’s Revolut has looked…

Canadian banks upped their technology spend and talent acquisition efforts in the fiscal fourth quarter amid increasing digital adoption. The $1.4 trillion TD Bank increased its tech spend in Q4 10% year over year to $4.8 billion; $1.4 trillion Royal Bank of Canada’s (RBC) tech investment grew 8.5% YoY to $5.3 billion; and $805 billion…

U.S. Bank recently announced its acquisition of New York City-based MUFG Union Bank in an $8 billion deal.   The deal was originally announced in September 2021, with the $591 billion bank acquiring Union Bank from Mitsubishi UFJ Financial Group, according to a release from U.S. Bank. System integrations and account conversions are expected to…

AvidXchange partnered with Wise this week. The partnership enables AvidXchange to expand on the global payments capabilities it launched last month. The partnership will help AvidXchange offer its U.S.-based clients an embedded payment experience, creating a more convenient payment process. Payment automation solutions company AvidXchange announced this week it has selected international money transfer company Wise…

If your company has ever demoed its technology at FinovateEurope, then we’ve got an opportunity for you! Alumni Alley is our special showcase exclusively for companies that have demoed on stage at FinovateEurope. Held in London at FinovateEurope, March 14-15, Alumni Alley highlights those FinovateEurope alums who are continuing to innovate in areas ranging from…