Startup Promise aims to modernize municipal payments process
Promise wants to help consumers stay on the government’s good side by keeping them out of debt. The 3-year-old social justice-minded startup offers a white-label payment platform to municipalities...
View ArticleJack Ma’s Ant set to raise $35 billion in biggest-ever IPO
Jack Ma’s Ant Group Co. is set to raise about $34.5 billion through initial public offerings in Shanghai and Hong Kong, a blockbuster listing that will rank as the biggest IPO ever and make it one of...
View ArticleBlueVine ramps up payment, connectivity with new features
Fintech lender BlueVine is enhancing the SMB banking experience, one that has traditionally lagged behind consumer and corporate sectors, by leaning into payments, third-party connectivity and the...
View ArticlePBOC governor says 4 million transactions so far in digital yuan
Yi Gang, governor of the People’s Bank of China, said a pilot program on the rollout of a digital currency in four cities has been smooth. There have been more than 4 million transactions, totaling...
View ArticleZelle overshadows Venmo with record payments volume
In the battle over U.S. mobile person-to-person payments, Zelle topped Venmo — at least last quarter. In the third quarter alone, Zelle processed $84 billion on 323 million transactions, the company...
View ArticleWhatsApp gets India permit to go live with payments service
India allowed Facebook Inc. to start operating its WhatsApp payments service in the world’s biggest open technology market. WhatsApp pay can go live using the homegrown, multibank Unified Payments...
View ArticleCiti strengthens push into Mexico with Arcus investment
Citibank is betting on new technology to penetrate the Mexican fintech market. The $2.2 trillion-asset bank this week invested an undisclosed sum in Arcus, a New York City-based payments and fintech...
View ArticleBAS 2020: Brex pushes beyond corporate cards
Brex is getting creative with its data. As the corporate card startup takes steps toward becoming a fuller service financial institution, it is rethinking how it ingests new types of data and applies...
View ArticleHow US Bank, Wells Fargo are digitizing back office B2B payments
U.S. Bank and Wells Fargo are advancing B2B payment solutions with the debut of two new automated products for back-office operations. Wells Fargo on Thursday released its WellsOne Virtual Card Payment...
View ArticleStripe to offer Citi, Goldman accounts through e-commerce giants
Stripe Inc. will team up with some of the world’s largest banks to offer checking accounts to businesses that sell their wares on e-commerce platforms such as Shopify Inc. Stripe said banks including...
View ArticleSquare has discussed acquiring Jay-Z’s Tidal service
Square Inc., the digital-payment company run by Jack Dorsey, has held talks to acquire the music-streaming service Tidal as part of a push to diversify, according to a person familiar with the...
View ArticleTrovata brings automation to cash management
Trovata, a cash management automation platform, is poised for growth in 2021, with plans to quadruple its client base, founder and CEO Brett Turner told Bank Innovation. The San Diego, Calif.-based...
View ArticleAutomated invoice adoption lags despite FI investment
The irony of automation is that while companies are pushing to automate payments, many are still dealing with paper-based invoices. In 2021, companies will look to change that, predict some industry...
View ArticleFresh off $15M raise, Rho jump-starts new AP product
Rho Technologies secured $15 million in a Series A funding round today, a boost for the fintech in a space packed with AP process management software. The New York-based tech company plans to funnel...
View ArticleFintechs eye automation with nearly $1B in funding
Fintechs MX and Blend secured $300 million funding rounds Wednesday just as both companies top off plans for digital innovations in the coming months. Global payments fintech Rapyd also joined the pack...
View ArticleTCH eyes FedNow in pilot launch with Citi, JPM and Wells Fargo
The Federal Reserve this week announced its pilot for real-time payment services and its major competitor said it will work with the Fed to ensure the two solutions are interoperable. When the Federal...
View ArticleSunrise plans ACH automation ‘strike team’
Sunrise Banks is putting together a “strike team” to transform ACH originations into an automated process from a manual one. The Minneapolis, Minn.-based bank with $1.2 billion in assets plans to hire...
View ArticleAutomation propels transactional banking at Santander
Santander Bank is prioritizing automation this year to drive efficiency and digitization, both externally for clients and internally for the bank. Ken Deveaux, head of global transaction banking at the...
View ArticleVisa pilots settlement prediction service for client banks
Visa is leveraging AI and real-time analytics to pilot a new service that will help banks manage their transaction settlements. Smarter Settlement Forecast will be a subscription service available...
View ArticleWealthfront unveils new tech to automate money movement
Wealthfront has revealed a handful of new integrations that push the company closer to achieving its mission of “self-driving money.” The robo-advisor turned banking platform has expanded its tech...
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