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Railsbank, the Banking-as-a-Service, raises $37M in growth funding

TechCrunch

Railsbank , the London-headquartered Banking-as-a-Service platform, has raised $37 million in new growth funding. Also participating is Anthos Capital, Global Brain, Clocktower Technology Ventures, Moneta VC, Mitsui Fudosan and Firestartr. Visa), regulation, and compliance,” he told me at the time.

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Droit, a regulatory compliance platform used by major banks, raises $23M

TechCrunch

Droit , a regulatory compliance platform used by finance heavyweights such as Wells Fargo, Goldman Sachs, and UBS, has raised $23 million in a Series B round of funding. And earlier this year, another London-based company called GSS secured $45 million to help banks screen for any sanctions that may have been imposed by governments.

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Sila banks $13M to offer single API for developing financial products, services

TechCrunch

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.

Banking 258
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Andreessen Horowitz backs ModernFi’s deposit marketplace for banks

TechCrunch

Banks aren’t letting fintechs have all the fun when it comes to using technology, providing an opening for startups to show them what they got. In the same vein as companies like Flourish Fi , Treasury Prime , Savana and Amount offering software for banks, ModernFi is providing a marketplace for banks to exchange deposits on demand.

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Jiko announces partnership to launch a banking app for the transgender community

TechCrunch

Jiko , a fintech startup that uses customer deposits to purchase short-term treasury bills, announced its first banking-as-a-service (BaaS) client today. It will partner with Euphoria , a technology suite for the transgender community that helps alleviate the struggles associated with gender transition, to launch a banking app called Bliss.

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Kintent nabs $4M seed to automate compliance questionnaire process

TechCrunch

He knew firsthand from his experience at Kinvey that companies like his had to adhere to a lot of compliance standards, and the idea for the next company began to form in his head. With 14 employees and some money in the bank from this funding round, he is thinking ahead to adding people. Startup Law A to Z: Regulatory Compliance.

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Onboarding and automation: What fintechs can learn from big banks

TechCrunch

This creates increased regulatory scrutiny, with the risk of massive fines for non-compliance. Or, the UK’s Financial Conduct Authority fining GT Bank £7.8m Or, Solaris , the German Bank-as-a-Service (BaaS) provider slapped with a restriction to not onboard any future clients without government approval. for AML failures.

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