London FinTech TrueLayer partners with Visa
London API provider TrueLayer is collaborating with Visa, which now has a minority stake in the FinTech as part of a $35 million Series C funding round in June, outlets reported on Tuesday (Oct. 29). The funding round was led by Temasek and Tencent with participation from previous investors Northzone and Anthemis. The investment helped TrueLayer expand across Europe to Germany, France, Italy and Spain. It also launched payment initiation capabilities and partnering with companies including Revolut, Zopa, ClearScore, Plum, Emma, CreditLadder, Canopy, and ANNA Money. “We want to scale open banking to a level where it manifestly impacts every aspect of financial services for consumers,” he says. “[This] requires […]
Softbank pumps £510m into finance firm Greensill that could kill off payday lenders
Japanese conglomerate Softbank is set to inject another £510million into British online finance firm Greensill as part of plan to launch a new service that aims to wipe out controversial payday loans. City sources said Greensill, set up by former Morgan Stanley banker Lex Greensill, is in advanced talks to buy FreeUp, a technology company that should enable the firm to offer ordinary workers early payment of their wages. SoftBank’s Vision Fund, led by maverick entrepreneur Masayoshi Son, is pouring in more than half a billion pounds to support the expansion strategy. Sources said the deals could be announced as soon as this week. To read more, please click on […]
Fintech Revolut to launch in the U.S. by year-end with Mastercard deal
Digital banking app Revolut is set to begin issuing its cards in the United States by the end of this year via a partnership with payments company Mastercard Inc MA.N, the two companies said on Tuesday. The announcement follows a similar deal last month where Mastercard rival Visa Inc V.N partnered with Revolut as part of its global expansion plans. Revolut, one of the world’s fastest-growing bank account providers, aims to undercut established players such as Bank of America BAC.N and JPMorgan Chase JPM.N on everything from foreign exchange to current accounts and remittances. “We’re going to ensure our product is better value for customers, most U.S. banks charge $10 […]
FinTech Scotland announces partnership with FinTechNZ
Last week, FinTech Scotland announced its first partnership with New Zealand fintech hub, FinTechNZ. According to the Scotland hub, FinTechNZ is The New Zealand Financial Innovation & Technology Association. It is a working group focused on delivering economic growth in New Zealand through financial innovation. Slightly older than FinTech Scotland they have a member base of just more than 100. It also works closely with the New Zealand government to offer guidance on policies and regulations. While sharing more details about the partnership, FinTech Scotland stated it is looking to develop a network with other international hubs and several reasons have motived the organization in doing so, which are the […]
Temenos to create financial technology powerhouse as Fidessa agrees takeover
The boards of Temenos and Fidessa have reached an agreement on the terms of an all-cash takeover of the UK-based trading technology supplier in a transformational deal for the Swiss core banking vendor. Under the terms of the transaction, Fidessa shareholders will be entitled to receive £35.67 in cash for each Fidessa share, a 36.9% premium to the firm’s closing price of £26.05 on 16 February. Shareholders will also be entitled to receive and retain a final dividend and a special dividend in respect of the year ended 31 December 2017 together amounting to 79.7 pence in aggregate per Fidessa share. The transaction, which is expected to close in the […]
UnionPay International signs long-term partner agreement with global payment innovator Verrency
Verrency today signed a long-term agreement with UnionPay International (UPI), a wholly owned subsidiary of China UnionPay (CUP), to offer Verrency’s innovative value-added services to Union Pay’s issuing banks across Asia. Verrency’s services will be delivered via the UPI Wallet, Union Pay’s innovative API service. Signing the formal agreement were David C. Link, Chief Executive Officer/ Executive Chairman, Verrency, and Shuan Ghaidan, Product Director, UnionPay International. Shuan Ghaidan said: “We are very glad to be working with Verrency to offer further control, service, convenience and security to our customers. Verrency’s innovative services will further enhance the value of the UPI Wallet and the value that Union Pay enables for its issuers. […]
IRTA International RegTech Association officially launched
Incorporated in Switzerland on May 16, 2017, the non-profit International RegTech Association (IRTA) is a united community of individuals and organizations, with a shared vision to innovate, advance, and influence the future of Regulatory Technology (RegTech). Sponsored and funded by its Members, the IRTA exists to ease and accelerate the evolution of the global RegTech ecosystem, through integration, collaboration, and knowledge-sharing. The IRTA brings together the people, tools, processes, and policies that are required to thrive in today’s rapidly evolving RegTech landscape. The IRTA is a unique, global organization of people, which believes in creating RegTech as a profession, and enabling Innovation-in Trust as a key benefactor for the future […]
Vista to acquire D+H for fintech merger with Misys
The US buyout firm wants to create a ‘global fintech powerhouse’ by merging an existing portfolio company with its new acquisition Private equity firm Vista Equity Partners has struck a deal to acquire D+H, a Canadian financial technology provider, with an eye to merging it with UK-based Misys to create a financial software company with $2.2 billion in revenues. US-based Vista said in a statement today that it will pay C$25.50 per share in cash for D+H, including the assumption of debt, in a deal that values the Toronto-listed firm at 4.8 billion Canadian dollars. The buyout firm acquired software provider Misys in 2012. The combined company will be privately […]
