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Oren Yunger is an investor at GGV Capital , where he leads the cybersecurity vertical and drives investments in enterprise IT, data infrastructure, and developer tools. When it comes to meeting compliance standards, many startups are dominating the alphabet. In reality, compliance means that a company meets a minimum set of controls.
Railsbank , the London-headquartered Banking-as-a-Service platform, has raised $37 million in new growth funding. Visa), regulation, and compliance,” he told me at the time. Railsbank raises $10M Series A for its open banking and compliance platform. Visa backs open banking and compliance platform Railsbank.
AI and Machine Learning will drive innovation across the government, healthcare, and banking/financial services sectors, strongly focusing on generative AI and ethical regulation. Data sovereignty and local cloud infrastructure will remain priorities, supported by national cloud strategies, particularly in the GCC.
Examples include the 2008 breach of Société Générale , one of France’s largest banks, when an employee bypassed internal controls to make unauthorized trades, leading to billions of dollars lost. As AI usage spreads, data frequently moves between different infrastructures, making it harder to keep track of and protect.
BNY and Silicon Valley Bank are also participating in today’s funding round. Instead, it sells its products to banks, fintech startups and other financial institutions. The company also integrates with compliance providers Elliptic and Chainalysis for anti-money laundering reasons. You can earn staking rewards on Ethereum 2.0,
Data sovereignty and the development of local cloud infrastructure will remain top priorities in the region, driven by national strategies aimed at ensuring data security and compliance. The Internet of Things will also play a transformative role in shaping the regions smart city and infrastructure projects.
Sila announced Monday it raised $13 million in Series A funding for its banking and payment platform that gives software teams tools to build the next generation of financial products and services. CEO Karkal has a long history in the fintech space, co-founding Simple, an app unifying various accounts into one accessible bank card, in 2009.
However, it differentiated itself by committing to payments on social media platforms, which Nigerian digital bank Carbon was interested in when it acquired the startup in 2019. The new company is akin to Amplify in terms of infrastructural play; however, it provides financial features instead of payment ones.
It has become a strategic cornerstone for shaping innovation, efficiency and compliance. Data masking for enhanced security and privacy Data masking has emerged as a critical pillar of modern data management strategies, addressing privacy and compliance concerns. In 2025, data management is no longer a backend operation.
Financial regulations exist to ensure stability and trust in global banking systems. However, even in a heavily regulated industry, banks and financial institutions worldwide routinely fail audits, often paying steep penalties amounting to billions of dollars.
a banking-as-a-service (BaaS) platform that aims to build “DeFi for traditional finance,” has raised $16 million in a Series A round of funding led by CM Ventures. From a product architecture standpoint, Productfy has been built “from the ground up,” he said, to operate with multiple banking partners. Productfy Inc. ,
Laura Spiekerman is the co-founder and chief revenue officer of Alloy , an identity-decisioning platform for banks and fintech companies. Innovation continues to drive new developments in lending, payments, crypto and, in particular, infrastructure, showing that the industry still has lots of room for growth. Laura Spiekerman.
However, as more organizations rely on these applications, the need for enterprise application security and compliance measures is becoming increasingly important. Breaches in security or compliance can result in legal liabilities, reputation damage, and financial losses.
Over 90% of the world’s leading banks are either exploring, experimenting (PoCs), or formulating a strategy for leveraging blockchain technology, says an Accenture survey. Traditional business processes are supported by the legacy IT infrastructure. Benefits of Blockchain in banking. Source: Banking on Blockchain.
As I work with financial services and banking organizations around the world, one thing is clear: AI and generative AI are hot topics of conversation. In the finance and banking industry, however, organizations are seeking extra guidance on the best way forward. Regulatory compliance. In short, yes. But it’s an evolution.
With serverless components, there is no need to manage infrastructure, and the inbuilt tracing, logging, monitoring and debugging make it easy to run these workloads in production and maintain service levels. For instance: Regulatory compliance, security and data privacy. Legacy infrastructure. Scalability.
In an effort to make it simpler, faster and cheaper, a pair of former Blend employees have teamed up to build mortgage loan origination software that will connect banks, credit unions, mortgage bankers and brokers. The infrastructure they are creating will be a core driver to automation and adoption in the industry.”.
Treasury Prime co-founder and CEO Chris Dean believes that the best outcomes for consumers will result from traditional banks and fintechs working together. The banking-as-a-service startup has worked to build relationships with both banks and fintechs. As we had more fintechs, it became easier to add more banks.”
The co-founders intend to use the new funding to build out their team and strengthen compliance measures to ensure its track record with enterprises. “We That was one of the drivers for Zeal’s latest product, the Abacus gross-to-net calculator, which payroll companies can use to ensure they are compliant in paying their income taxes.
Crypto custody and fintech infrastructure startup Prime Trust is positioning itself to do just that, and the company has just raised over $100 million in fresh funding to add new products to its existing suite, its CFO Rodrigo Vicuna told TechCrunch. “Most people hop into the onboarding piece first, because it’s necessary, right?
Financial infrastructure startup Fidel API has raised $65 million in a Series B funding round led by Bain Capital Ventures. With this infrastructure, developers are able to create highly contextualized and event-driven user experiences at the point of purchase,” it claims. Fidel API enables that future.”
Ketch , a startup aiming to help businesses navigate the increasingly complex world of online privacy regulation and data compliance, is announcing that it has raised $23 million in Series A funding. ” 3 adtech and martech VCs see major opportunities in privacy and compliance. .” ” Image Credits: Ketch.
billion last year — up 153% year-over-year in terms of global VC deal value — and include a range of outfits, from payments companies to digital banks to corporate spend players. It’s not as typical for us to hear, though, about venture capitalists pouring millions of dollars into a traditional bank.
Mohamed Salah Abdel Hamid Abdel Razek, Senior Executive Vice President and Group Head of Tech, Transformation & Information, Mashreq explains how the bank is integrating advanced technologies and expanding its digital footprint. This approach has significantly enhanced the customer banking experience.
The concept is ubiquitous in East Africa, but since mobile money is a telecom operators-led initiative, there are technical complexities in creating a unified infrastructure for businesses that need it. Typically , they would be required to use a bank account or card. It’s literally a no-brainer. PawaPay , a U.K.-based
Neobanks transformed the customer experience of traditional banks by offering better digital products and lower costs. The reality is that many neobanks have customers with small average deposit balances, and deposits are critical to banking business models in the long term. Fintechs serving SMBs. What’s hot.
While working as the head of treasury at Braintree, Boris de Souza once discovered a $90 million payment that went “missing” for over two weeks because of poor payments infrastructure. “It But Streamlined is different, he claims, in that it has “custom built” transaction infrastructure for B2B “from the ground up.”.
The rise of the cloud continues Global enterprise spend on cloud infrastructure and storage products for cloud deployments grew nearly 40% year-over-year in Q1 of 2024 to $33 billion, according to IDC estimates. BPS also adopts proactive thinking, a risk-based framework for strategic alignment and compliance with business objectives.
Smile Identity , a KYC compliance and ID verification partner for many African fintechs and businesses, has acquired Inclusive Innovations, the parent company of Appruve , a Ghanaian developer of identity verification software.
This solution is designed to accelerate platform modernization, streamline workflow assessment and enable data discovery, helping organizations drive efficiency, scalability and compliance, said Swati Malhotra, AI solutions leader at EXL. AI can help organizations adapt to these shifts.
Fireblocks , an infrastructure provider for digital assets, has raised $310 million in a Series D round of funding that tripled the company’s valuation to $2.2 The latter is the third global bank to invest in Fireblocks in addition to the Bank of New York (BNY) Mellon and SVB Capital. . billion in just over five months.
Banking-as-a-service (BaaS), embedded finance and open banking are among the hottest topics in fintech today. Make opening a bank account, storing money, receiving a payment card and lending money as easy as opening a social network account. The promise? In May 2022, Unit closed a $100 million round with a $1.2
CIOs must tie resilience investments to tangible outcomes like data protection, regulatory compliance, and AI readiness. According to Salesforces Perez, even though AI brings much opportunity, it also introduces complexity for CIOs, including security, governance, and compliance considerations.
The pandemic has resulted in a shift in consumer behavior that now favors contactless and digital banking options, and with one in four U.S. Building infrastructure and providing top-notch cybersecurity is at the core of what we do, not the sideshow. It needs to be both effective and secure. This is where fintech can step in.
Six months after securing a $23 million Series A round, Ketch , a startup providing online privacy regulation and data compliance, brought in an additional $20 million in A1 funding, this time led by Acrew Capital. Ketch raises $23M to automate privacy and data compliance. Customer growth through OTC increased five times in six months.
According to the World Bank , it is more expensive to send money to sub-Saharan Africa than to any region in the world. Founded in 2019 by brothers Paul Ndichu and Eddie Ndichu , Wapi Pay provides a payments gateway for African businesses to receive and send money from Asia via mobile money platforms and bank accounts.
It’s no secret that banks and fintech companies must meet compliance and regulatory standards that are much stricter than what traditional tech companies are forced to comply with. The question becomes: How do you meet strict regulatory and compliance standards while keeping up with the rapid pace of innovation in technology?
How has banking evolved during the rapid digitisation of recent years? Banks are no longer the key players in the market, with fintech companies, digital-first start-ups, and tech giants delivering their own brand of financial services. One example is Banking-as-a-Service, with the market expected to reach US$3.6
How has banking evolved during the rapid digitisation of recent years? Banks are no longer the key players in the market, with fintech companies, digital-first start-ups, and tech giants delivering their own brand of financial services. One example is Banking-as-a-Service, with the market expected to reach US$3.6
However, fuelled by cloud technology and a plethora of new fintech and Banking-as-a-Service startups, there is no doubt the embedded finance trend is accelerating. They are joined by HTGF, and private investors in banking, payment and e-commerce. The idea is to act as the link between banks (lenders), digital platforms, and merchants.
Over the years, there has been a growing trend of fintech infrastructure players around the world. Like other financial infrastructure companies, Stitch services allows companies and developers to innovate around other services like personal finance, lending, insurance, payments and wealth management. The Stitch team.
Blockset , the blockchain infrastructure platform for enterprises by BRD , announced early access to its Wallet-as-a-Service today. Blockset’s clients include some of the largest ATM networks and Japanese investment bank (and BRD investor) SBI Holdings, CoinFlip, Welthee, CoinSwitch, Coinsquare and Wyre.
The European fintech unicorn , now a financial super app of some sorts, started off providing multi-currency bank accounts, fee-free currency exchange, peer-to-peer payments and a feature for businesses. MLRO and former group chief compliance officer at pan-African bank Guaranty Trust Bank, to lead its compliance efforts.
With rich resources like a growing physical infrastructure and subsea cable network, Africa is uniquely positioned to emerge as a leader among todays developing economies. European Union (EU), China, and India all have strategic programs in place for a solid digital infrastructure on the African continent. For instance, the U.S.,
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