Category: digital currencies

$649 million Axiom Bank is partnering with embedded finance platform BankiFi to allow its small-to medium-sized business (SMB) customers to quickly collect payments using digital tools while also gathering and organizing financial data. Manchester, England-based BankiFi was founded in 2017 and runs on APIs, is digitizing and automating processes for small businesses following its North…

Banks and fintechs are realizing in today’s volatile economic environment that they need each other to survive, which is spurring innovative partnerships. Data-sharing is a natural starting point for banks and fintechs to look for interoperability, Vijay Sondhi, CEO of payment platform provider NMI, tells Bank Automation News in this episode of “The Buzz” podcast.…

Deutsche Bank is extending its nearly 20-year partnership with information technology firm Kyndryl to support the bank’s cloud migration, according to an announcement today. The $1.4 trillion bank is leveraging the managed infrastructure services platform to integrate automation, security technologies, workflows, tooling, data integration and cloud-computing capabilities as it embarks on a long-term cloud journey,…

At the Bank Automation Summit, Informed’s Director of Auto Lending Strategy, Jessica Gonzalez, joined Kevin Faragher, Senior Director of Product and Strategy at Ally Financial on a panel moderated by Whitney McDonald, Deputy Editor Of Bank Automation News. Here is part of the discussion. Whitney – What types of fraud are rising? Jessica can you…

I would come back from selling custom software solutions in the City Of London in the 1980s understanding very little. Most customers were not as kind as the man who explained the Gilts market to me. They would rattle on about some new derivative and expect me to understand. Eventually I did understand, but only thanks…

FrontPage is an expert-curated news service, with clickable news headlines plus a 250 character commentary – news you can trust from experts who have walked a mile in your shoes. Front Page Weaver meets a need in the market because most news services are written by overworked journalists who add very little value beyond the…

The global banking sector continues to support open finance and collaboration, with 85% of professionals agreeing that open finance is making the industry more collaborative and making a positive impact, while 80% consider the sector open to collaboration. The findings were published in a recent preview of the annual State of the Nation Financial Services…

Payment routing platform Pinwheel has released a new immediate earned wage access (EWA) product that allows customers to pull funds outside of a typical paycheck cycle by scanning and analyzing their payment history. Earnings Stream, which runs on APIs and connects to more than 1,600 payroll platforms, gathers large amounts of earnings and payment data…

TD Bank’s approach to embedded banking starts at the core before seeking client feedback to determine which capabilities to add next. The $1.4 trillion bank understands that commercial customers report financials and reconcile their records — so that’s where integration begins, Paul Margarites, head of commercial digital platforms at Cherry Hill, N.J.-based TD, told Bank…

2022 marks the fourth year in a row in which Finovate alums have raised $1 billion or more in equity funding in the third quarter. The number of alums reporting investments in Q3 this year was lower than in previous years, and much of the quarter’s lofty fundraising total comes from a single, sizable investment…