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Category Archives: fintech
A Short Guide to Understanding the Exciting Realm of Fintech
By Owais Sultan
Fintech is skyrocketing in popularity, posing the first serious challenge to legacy financial institutions. What is it &…
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Nuula raises $120M to build out a financial services ‘superapp’ aimed at SMBs
A Canadian startup called Nuula that is aiming to build a superapp to provide a range of financial services to small and medium businesses has closed $120 million of funding, money that it will use to fuel the launch of its app and first product, a line of credit for its users. The money is […] Continue reading Nuula raises $120M to build out a financial services ‘superapp’ aimed at SMBs
Fintech company Plaid, consumers reach $58M settlement agreement in privacy suit
Financial tech company Plaid has reached a $58 million settlement agreement in a lawsuit where customers alleged that the company obtained and used their banking information without permission. Plaid’s service connects customer banking accounts to financial apps like Venmo and Robinhood. The plaintiffs claimed that Plaid misled them and violated their privacy by obtaining data from their financial accounts without consent, getting their bank login information through a deceptive interface meant to look like customers’ own bank login screens and selling their transaction histories. Under the settlement agreement, still subject to court approval, Plaid must also delete some data from its systems, minimize the data it stores, improve disclosures of how it uses data and maintain disclosures and websites about its security practices. “We do not, nor have we ever, sold data,” a Plaid spokesperson said. “We make our role and practices clear, and provide services that give consumers control […]
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Paystand banks $50M to make B2B payments cashless and with no fees
It’s pretty easy for individuals to send money back and forth, and there are lots of cash apps from which to choose. On the commercial side, however, one business trying to send $100,000 the same way is not as easy. Paystand wants to change that. The Scotts Valley, California-based company is using cloud technology and […] Continue reading Paystand banks $50M to make B2B payments cashless and with no fees
Railsbank raises $70M to build out its fintech-as-a-service platform
Financial services-as-a-service — where entities like neobanks, retailers and others can create and sell their own financial products by way of a few lines of code and APIs — has been one of the bigger trends in the world of fintech in recent years, with embedded finance on its way to being a $7.2 trillion […] Continue reading Railsbank raises $70M to build out its fintech-as-a-service platform
UK’s Paysend raises $125M at a $700M+ valuation to expand its all-in-one payments platform
With more people than ever before going online to pay for things and pay each other, startups that are building the infrastructure that enables these actions continue to get a lot of attention. In the latest development, Paysend, a fintech that has built a mobile-based payments platform — which currently offers international money transfers, global […] Continue reading UK’s Paysend raises $125M at a $700M+ valuation to expand its all-in-one payments platform
Why Financial Services Needs Network Transformation
All business industries have seen increasing pressure to digitize their services in recent years, particularly over the past 12 months in response to COVID-19. But few industries have felt this pressure more than the financial sector, where customers … Continue reading Why Financial Services Needs Network Transformation
FintechOS nabs $60M for a low-code approach to modernizing legacy banking and insurance services
“Challenger” startups in banking and insurance have upended their industries, and picked up significant business, by building more customer-friendly tools and services — more personalized, easier to access, and usually competitively priced — than those typically provided their bigger, incumbent rivals. Now, a startup out of Romania that is building tools to help the incumbents […] Continue reading FintechOS nabs $60M for a low-code approach to modernizing legacy banking and insurance services
Fintech Cybersecurity Trends in 2021
Article by Beau Peters
When the pandemic struck, online bad actors took it as an opportunity to double-down on their attacks through ransomware, malware, and social engineering. Newly remote workers and remotely connected workplaces had to adapt rapid… Continue reading Fintech Cybersecurity Trends in 2021