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Square’s bank arm launches as fintech aims ‘to operate more nimbly’

TechCrunch

In a statement, Square CFO and executive chairman for Square Financial Services, Amrita Ahuja said that bringing banking capability in house will allow the fintech to “operate more nimbly.”. David Grodsky, Chief Compliance Officer. The trend of fintechs becoming bank continues. Samantha Ku, Chief Operating Officer.

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Visa takes a swipe in fintech, builds new online marketplace

TechCrunch

The relationships between banks and fintechs are multi-faceted. Well, today, an announcement by global payments giant Visa is aimed at helping facilitate banks and fintechs’ ability to work together. I talked with Terry Angelos, senior vice president and global head of fintech at Visa, to understand just exactly what that means.

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PassFort, a RegTech SaaS for KYC and AML, nets $16.2M

TechCrunch

London-based PassFort , a SaaS provider that helps business meet compliance requirements such as KYC (Know Your Customer) and AML (Anti-Money Laundering) reporting, has closed a $16.2 million Series A led by US growth equity fund, Level Equity. ” PassFort says its revenues grew ~2.5x over the past 12 months.

.Net 252
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B2B marketplaces will be the next billion-dollar e-commerce startups

TechCrunch

Merritt Hummer is a partner at Bain Capital Ventures, where she invests in the fintech, e-commerce and proptech sectors. Compliance: In some verticals, particularly those related to healthcare and chemicals, there is a heavy compliance burden to ensure goods are properly sourced and transported. Merritt Hummer. Contributor.

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Finix goes head-to-head with Stripe

TechCrunch

Welcome to The Interchange, a take on this week’s fintech news and trends. Rather than rehash all that here, I’ll point you to some of our recent articles on the topic and just summarize: The two fintech startups have recently grown (much) more competitive. It also reportedly posted net revenue of about $2.5 Weekly News.

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YC W22 batch nets 24 African startups, including 18 from Nigeria

TechCrunch

Now, its insurance APIs are suited for businesses in other sectors, including fintech, e-commerce and logistics. Promises include : The company says its KYC/identity platform allows African fintechs and government bodies to capture a “wholistic, end-to-end verification of an individual.” Website : www.tryduplo.com.

.Net 228
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Identitypass, an identity verification API for Africa, raises $2.8M seed funding

TechCrunch

In turn, this has increased the market opportunity for startups, especially fintechs and e-commerce, which try to provide various solutions to meet the financial needs of the populace. Thus, the need for fintechs and digital businesses in Africa to perform stringent KYC and verification checks on their customers. million. .

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