Banking Infrastructure

A report by the Economist Intelligence Unit has found almost three quarters of bank IT executives believe moving to the cloud will help their companies reach their objectives.

Mexican FinTech Stori has secured over $200m in financing following a $125m Series C raise and a $75m debt financing haul.

The Bank of England (BofE) has revealed it intends to launch a consultation to set out their assessment of the case for a UK central bank digital currency (CBDC) next year.

Payitoff, which builds infrastructure to automate and optimise debt management, has secured $8.5m in its seed round.

Three quarters of global consumers are now more likely to use digital banking than before the pandemic, according to a report from SaaS cloud banking platform Mambu. The report has also revealed five consumer segments which are driving growth in financial services.

South African banking-as-a-service (BaaS) company Jumo has bagged $120m from a recent funding round co-led by Visa, Fidelity Management and Kingsway.

ZenBusiness, the platform that strives to empower entrepreneurs, has secured $200m in Series C funding led by Oak HC/FT and SoftBank.

Founded in 2014, FinTecSystems is specialised in open banking infrastructure and data analysis to help companies make data-driven and automate decisions. At a time when companies are scrambling to protect their assets from criminal actors, could FTS’ open banking infrastructure be a flood barrier against the rising wave of financial crime?

Digital payments network MFS Africa has raised $100m in Series C funding, marking another milestone in the company’s expansion.

Productfy, a banking as a service platform that offers embedded financial products, has raised $16m in its Series A funding round.