F|T: The FinTech Times – Banks buying AI companies

Welcome to the FinTech Times, a weekly newsletter covering the biggest FinTech news from around the globe. If you want to read F|T before anyone else, make sure to subscribe using the form at the bottom of this page.


BetaKit

CIBC acquires Wellington Financial to support launch of CIBC Innovation Banking

CIBC Innovation Banking will provide advisory expertise and financing solutions to companies at all stages.


Bloomberg Tech

FinTech startup YieldStreet Raises $113 million

YieldStreet, which packages and sells business loans to investors, raised the funds from Greycroft and Raine Ventures.


betakit

Globalive’s Anthony Lacavera wants to undergo IPO for blockchain firm by mid-2018

The company is currently raising an initial round of $10 million in seed financing.


techcrunch

Alkami raises $70 million for mobile banking software

Alkami’s Series D funding round was led by General Atlantic, with participation from MissionOG. Existing investors include S3 Ventures and Argonaut Private Equity.


kk

Kodak unveils KODAKCoin cryptocurrency, blockchain image platform

Kodak is probably one of the last companies you think of when it comes to mining cryptocurrency, but it plans to change that. The company plans to make its initial coin offering on January 31 to accredited investors in some countries including the US, UK, and Canada.


betakit

Mylo raises $2 million from Desjardins Capital to expand its spare change investment platform

Mylo wants to become a full-service personal financial management platform.


fortune

Ripple and MoneyGram test XRP currency transfers

The partnership will see MoneyGram pilot the use of digital currency XRP through a new Ripple service, called xRapid, designed to provide liquidity to financial institutions.


bk

TD acquires Layer 6 in Canadian AI talent grab

Layer 6 will help the banking giant in a few areas: delivering more personalized experiences to customers, automating processes, and making sense of the financial institution’s vast amounts of data to identify new opportunities.


techcrunch

Germany’s Smava raises $65M to expand its consumer loan portal

Smava, a German startup that has built a marketplace/portal for people to search for and take out loans, raised the funds from UK-based private equity firm Vitruvian.


forbes

How FinTech is targeting millennials using AI and machine learning

As more young adults enter the workforce and begin investing in their futures, businesses are quickly realizing they will have to change their approach to appeal to this demographic’s unique set of needs and expectations, which are on course to completely disrupt the status quo.


bk

After building 17,000 financial plans, Toronto’s Planswell raises $6.8 million

The service is available in BC, Alberta, Manitoba, Ontario, New Brunswick, and Nova Scotia.


finextra

LendingPoint buys LoanHero

LoanHero will help accelerate LendingPoint’s expansion into point-of-need and point-of-sale financing, with its merchant onboarding and reporting tools and installed merchant base.


techcrunch

TransferWise begins private launch of its consumer borderless account and bright green debit card

This marks the first time the European unicorn has offered a debit card, a move that is bound to draw further comparisons with newer FinTech upstarts such as Revolut.


bk

RBC report: Cryptocurrency and blockchain market expected to reach $10 trillion

The report outlines potential opportunities for the cryptocurrency market to grow.


Subscribe to The FinTech Times

* indicates required



Amira Zubairi

Amira Zubairi

Amira Zubairi is a staff writer and content creator at BetaKit with a strong interest in Canadian startup, business, and legal tech news. In her free time, Amira indulges in baking desserts, working out, and watching legal shows.