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The Toronto-based FinTech company has raised $100 million to date.
“FinTechs leading banks towards innovation.”
– Miro Pavletic, CEO and co-founder of STACK
Empower has launched a new mobile app that combines the ability to see an overview of your day-to-day transactions and spending behavior, with other tools to transfer money, automate your savings, and soon, pay bills and pay down your debt.
Australia’s budget included an expansion of the regulatory sandbox, which allows FinTech startups to pilot products without requiring a full licence; and a commitment to open up big bank data to startups.
Ferst Digital recently launched its free Incorporate In Canada feature, which allows businesses to enter the company’s information in under 10 minutes for processing.
Under the agreement, Kreditech will deliver its AI and machine-learning credit underwriting and loan management technology to PayU’s 300,000-strong network of merchants.
True blockchain-led transformation of business and government is still many years away. That’s because blockchain is not a “disruptive” technology, which can attack a traditional business model with a lower-cost solution and overtake incumbent firms quickly.
The list says remote work is becoming more viable, and more job cuts in traditional institutions are likely to occur.
“We think that crowdfunding platforms are not only about funding, but about success: finding a market, finding a public, a community,” said co-founder and CEO Alexandre Boucherot.
KPMG is looking to cash in on the growing trend for bank and startup collaboration with the acquisition of FinTech matchmaking platform Matchi.
“Data and analytics will soon become a key competitive advantage in financial services, so it’s critical to organize around it now.” said Steve Ellis, head of Wells Fargo Innovation Group.
The two firms are introducing an automated process that will see them make commercial real estate lending decisions of up to £2 million in just 45 minutes.
Speakers include Wealthsimple CEO Mike Katchen and Real Ventures partner Janet Bannister.
New FinTech competitors have made some inroads, but—in Western countries, at least—they are finding that collaboration is a likelier path to success than a full-on fight.
Zopa said it has gained full authorisation from the FCA, almost two years after it applied in 2015. The company’s platform connects savers looking to invest their money directly with borrowers looking for quick and easy cash.
EarlySalary, which helps professionals get instant loans and salary advances, will use the funding to expand its team’s skills in machine learning and grow its customer base.
Nest Wealth CEO says Canada’s concentrated market means FinTechs must partner with banks for customers
“The reality of the Canadian marketplace is that distribution, moreso in Canada than any other geographic region, is so concentrated among, at most, ten large institutions,” said Randy Cass.
Through the acquisition of payments provider, PayEx Swedbank is entering a new market to add services that meet customers’ needs of digital solutions for payments.
Overbond said swap pricing calculator will help treasurers navigate structural changes in the fixed income market and gain better access to offshore bond markets.