Category: Doing Business Overseas

Following a second consultation last summer, the Basel Committee on Banking Supervision (BCBS) has now finalised its prudential standard on cryptoasset exposures. Some key concessions have been made, notably in relation to the proposed infrastructure risk add-on for Group 1 cryptoassets. However, the final framework remains conservative, particularly in relation to unbacked cryptoassets, which is…

Challenger bank NorthOne announced a partnership with The Bancorp Bank to launch real-time payments via The Clearing House’s network. NorthOne customers initially will be able to receive real-time payments. The ability to send real-time payments will come with “future updates” the company said. With offices in New York and Toronto, NorthOne has raised more than…

Allianz Trade, Santander Corporate & Investment Banking (Santander CIB), and Two have partnered to launch a new B2B buy now, pay later (BNPL) tool. The new tool leverages Allianz Trade to protect against the risk of default, Santander CIB for financing, and Two for the BNPL technology. The launch comes one year after Santander’s digital…

2023 is only a few days old but the merger and acquisition action in the fintech industry has already begun. 2022 featured a number of major fintech acquisitions – from Vista Equity Partners $8 billion purchase of tax compliance specialist Avalara to Technisys’ $1.1 billion acquisition of SoFi to Fiserv’s $650 million deal with Finxact.…

Digital banking app for kids and teens, Greenlight, launched a financial literacy game today. The game, Greenlight Level Up, is designed to teach financial skills to kids from kindergarten to 12th grade. Only 23 states in the U.S. require schools to offer lessons in personal finance. Greenlight, a digital banking app for kids and teens, unveiled…

China’s recent emergence from severe COVID lockdowns has caught the attention of investors, who sent shares of Chinese companies soaring in the final months of 2022. The momentum has continued into 2023 with many observers and analysts suggesting that, while China’s COVID-related woes may not be over, the country and its $17+ trillion economy may…

U.K.-based data and payments fintech Moneyhub raised $17.7 million in a December venture round led by London-based Phoenix Group. The investment follows an October funding round led by Legal and General, Lloyds Banking Group and Shawbrook Bank that raised $41.5 million, according to a Moneyhub release. The fintech plans to use the funding for its…

Primis Bank has chosen financial software provider Savana to help automate processes between its core and customer channels for more efficient self-service capabilities.  The $3.5 billion, McLean, Va.-based bank has integrated Savana’s APIs with its Finxact core and plans to offer small-business checking and savings accounts in the first quarter, Primis Bank Chief Information Officer…

It may be a fintech cliche that “every year is the Year of the Customer.” But the obsession over customer experience that is sweeping through financial services is showing no signs of slowing down. Steven Van Belleghem, author of The Internet of Customer Value, How Web3 and the Metaverse Are Changing the Game in Customer…

Uplinq, a company that offers advanced bookkeeping solutions to SMEs, has raised $5.6 million in funding. Headquartered in Arizona, Uplinq will use the capital to scale its marketing efforts to better serve fintech’s “underserved bookkeeping” market. The funding was led by Arizona-based AZ-VC, and included a strategic investment from Live Oak Ventures. Uplinq, a technology…