Category: Doing Business Overseas

Insurtech company Oyster received $3.6 million in seed funding. The round was led by New Stack Ventures. Oyster was founded in 2021 by Blend, Stripe, and Strategy& alumni Vic Yeh, Jon Patel, and Nikhil Kansal. Insurtech company Oyster received $3.6 million in funding this week. The Seed Round was led by New Stack Ventures with contributions from…

Jude Schramm, CIO, Fifth Third Bank Jude Schramm, chief information officer at Fifth Third Bank, will join the panel discussion “Solving data expandability issues through cloud” at the Bank Automation Summit U.S. 2023 on Thursday, March 2, at 9:15 a.m. ET. The Summit will take place March 2-3, 2023, at the Westin Charlotte, N.C., and…

Financial fraud is big business for cybercriminals, with the Federal Trade Commission (FTC) estimating that $5.8 billion was lost to scams in 2021, a 70% increase from 2020.   To fight the threat and help maintain compliance, several banks have turned to bots and robotic process automation (RPA).  Ally Financial, for example, has partnered with…

A pair of Finovate alums — Salt Edge and ebankIT – have teamed up to help financial institutions leverage open banking to provide more services to customers. The partnership will enable ebankIT’s bank and credit union clients to access accounts from more than 5,000 financial institutions. Salt Edge is headquartered in Toronto, Ontario, Canada. ebankIT…

FinTech startups have brought a new level of innovation to core banking functions such as payments and lending, to name just two areas. Simplicity, ease of use, and speed have been critical to their success. The rapid growth in digital banking (and the success of the upstart companies offering these services) have left established banks…

Evergreen Credit Union is planning to upgrade its call center’s digital communications to include SMS texting and chat capabilities through digital banking provider Access Softek. The Portland, Maine-based, $469 million credit union first selected Access Softek for mobile banking more than five years ago and added its online banking capability in 2020 to resolve its…

What does it take to be a fintech analyst? You have to be willing to get things wrong on occasion. Along with that, you need to be able to admit when you’re wrong. This becomes most apparent every December, when it comes time to share predictions on what the fintech industry can expect in the…

Payments fintech Marqeta is eliminating manual authorization in its payments process through an extended partnership with Mastercard.  The credit card giant’s Track Instant Pay is a business-to-business virtual card payment solution that uses machine learning to analyze invoices and generate a virtual credit card to pay suppliers in real time, according to a release. The…

Thoma Bravo has acquired business spend management software company Coupa for $8 billion. The deal is expected to close in the first half of 2023. The acquisition follows rumors that Vista Equity Partners had planned to acquire Coupa earlier this year. Private equity firm Thoma Bravo announced this week it is scooping up business spend…

Bank Automation News is pleased to announce the launch of our new Transactions Database, a list of technologies selected or acquired by companies in the financial services industry. The Transactions Database, which is updated weekly, allows financial services executives to follow which technologies banks are selecting to enhance their automation efforts. The database allows users…