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.
Responsive raises $1.1 million to help wealth managers predict client behaviour
Responsive has been working in stealth mode for the past year with a handful of private wealth managers in Canada.
Zafin Recommends: It’s Time to End the Rat(e) Race 2: Winning the War for Deposit Growth
If deposit growth is a war, then the profits from lending represent supply lines–with stagnant deposit growth having capped these banks’ lending ability for so long already, their ability to act and react will only become further constrained. If this continues, regional banks run the risk of being cut off and overrun by their competition.
LendingTree is the secret success story of FinTechAmerica (TECH CRUNCH)
Through acquisitions and a focus on cash flow, LendingTree has avoided the pitfalls plaguing the industry today.
KPMG acquires a minority stake in FinTech startup AdviceRobo (BOBS GUIDE)
AdviceRobo applies AI on non-financial data including the behavior of potential borrowers.
National Bank taps Thinking Capital to power its SME lending (BETAKIT)
Through the partnership, Thinking Capital’s technology, which uses AI to streamline lending decisions, will form the foundation of National Bank’s online business financing portal.
FinTech investment powerhouse Ribbit Capital aims for $420 million with its latest fund (TECH CRUNCH)
The fund would be Ribbit’s fifth foray out with limited partners and its $420 million target is only a nominal increase from the $300 million it had set out to raise for its fourth fund last year.
Proptech startup Unmortgage raises £10M in seed (FINSMES)
Unmortgage provides a solution for people who can afford to rent but want to own home to enjoy home ownership with a 5% deposit.
Finhaven raises $6.6 million Series A to build tokenized securities exchange
The funding was led by Dunamu & Partners, with participation from Lanebury Growth Capital Ltd., Medici Leading Enterprise Fund, TheVentures, and two unnamed individual investors.
Indonesian FinTech startup Moka raises $24M led by Sequoia India (TECH CRUNCH)
The investment is led by Sequoia India and Southeast Asia, with participation from new backers SoftBank Ventures Korea, EDBI, and EV Growth, the later stage fund from Moka seed investor East Ventures.
Mastercard Debuts B2B Trade Platform For SMBs (PYMNTS)
Mastercard’s new platform Mastercard Track helps automate and streamline procure to pay, with an eye toward managing business identities and compliance efforts.
Dream Payments expands Mastercard partnership, launches payments API for insurers
With the new API, insurance companies can connect to the Dream Payments Hub and the Mastercard Send platform to pay claims digitally.
Citi creates group to invest in credit markets FinTech firms (FINEXTRA)
The Spread Products Investment Technologies project will look to invest in firms working on trading infrastructure, data analysis and AI.
First Block Capital’s bitcoin trust achieves mutual fund trust status (BETAKIT)
FBC Bitcoin Trust exposes accredited investors to bitcoin without having to acquire, store, or manage the underlying bitcoins.
PayPal will instantly pay businesses after they make a sale (END GADGET)
Funds Now will let certain businesses in good standing — that means without fraud concerns or an excess of customer complaints — get instant access to funds from completed sales, even if there’s an ongoing dispute.
Can FinTech companies catch up with client demand for chat? (VENTURE BEAT)
Financial service providers are racing to invest in contextualized voice and chat capabilities — but how much do they really drive engagement and streamline communication?