Banking Infrastructure

Having already established a partnership to assist with Covid-19 challenges, cloud banking company nCino and alternative mid-sized business lender ThinCats are now expanding their collaboration further.

Challenger banks and InsurTech ventures stood out among the 23 FinTech companies that successfully raised money last week.

Santander is spinning out its venture arm into the new entity Mouro Capital, a new autonomous investment firm using its $400m in allocated funds to back innovate FinTech startups without the fear of the big bank spying on them.

Visa's $5.3bn acquisition of Plaid was supposed to be one of the biggest FinTech deals this year, but the US Department of Justice seems dead set against it and has filed a suit to stop the deal.

Arcus, which stylises itself as a FinTech-as-a-service platform, has collected an undisclosed investment from Citi Ventures.

Vivid Money has raised $17.6m in a Series A round led by Ribbit Capital and aimed at boosting the challenger bank's growth.

Swedish FinTech Tink has completed its acquisition of the Spanish account aggregation provider Eurobits Technologies.

Having only launched earlier this year, Allica Bank has now picked Sphonic to manage its financial crime fighting efforts

The UK has its first FinTech billionaire after Revolut co-founder and CEO Nikolay Storonsky's net worth surged to £1.06bn, according to the Telegraph's latest ranking of the country's richest startup founders.

Cyber Secure is Mastercard's new AI-powered suite of tools enabling banks to assess cyber risk across their ecosystem and prevent potential breaches.