Infrastructure & Enterprise Software

Scaleup Finance secures $8m for digital CFO platform growth and US market entry

Scaleup Finance secures $8m for digital CFO platform growth and US market entry

Scaleup Finance, a pioneering company in the FinTech sector, has successfully closed an $8m (£6.4m) pre-Series A funding round. This significant financial boost is aimed...
AI-powered HR innovation by Borderless AI with $27m funding

AI-powered HR innovation by Borderless AI with $27m funding

Borderless AI, a revolutionary startup at the forefront of the Employer of Record (EOR) industry, has secured $27m in seed funding, the company is set to redefine the global HR landscape with its cutting-edge AI technology.
Volopa and ClearBank forge strategic partnership to elevate SME banking services

Volopa and ClearBank forge strategic partnership to elevate SME banking services

Volopa, the innovative provider of transaction, payment, and expense management solutions, has entered into a strategic partnership with ClearBank, a trailblazer in real-time clearing and embedded banking for financial institutions.
Mastercard and SAP Concur partner to revolutionise expense management for businesses

Mastercard and SAP Concur partner to revolutionise expense management for businesses

Mastercard, a global leader in digital payment solutions, and SAP Concur, the forefront provider of integrated travel, expense, and invoice management services, have initiated a groundbreaking partnership aimed at streamlining the expense reporting process for businesses and their employees.
HP Spring Studios leads pre-seed round for digital receipt pioneer Receiptable

HP Spring Studios leads pre-seed round for digital receipt pioneer Receiptable

Receiptable, a pioneering FinTech firm, has successfully secured its first institutional investment in a pre-seed funding round led by HP Spring Studios.
Worth AI launches innovative AI platform to transform business credit scoring

Worth AI launches innovative AI platform to transform business credit scoring

Worth AI, a pioneering FinTech Software as a Service (SaaS) startup, officially announced the launch of its groundbreaking artificial intelligence (AI)-powered risk management and underwriting platform today.
cooperative-bank-of-oromia-and-temenos-unite-to-transform-digital-banking-in-ethiopia

Cooperative Bank of Oromia and Temenos unite to transform digital banking in Ethiopia

The Cooperative Bank of Oromia (CoopBank), one of Ethiopia's premier banking institutions, has partnered with the global FinTech powerhouse, Temenos, to launch innovative digital banking solutions.
Chime revolutionises tax season with free in-app filing feature

Chime revolutionises tax season with free in-app filing feature

Chime, a leading name in the FinTech sector, is taking significant strides to ease the financial burdens of its members, especially during the tax season.
Revolutionising finance: The rise of embedded finance in 2024

Revolutionising finance: The rise of embedded finance in 2024

As we delve deeper into 2024, the embedded finance phenomenon continues to reshape the financial services sector. A Capgemini survey from 2021 revealed that over 70% of banking executives view embedded finance as a catalyst for innovation, customer base expansion, and cost reduction, predicting its market value to soar to $588bn by 2030 from $22bn in 2020. This trend positions embedded finance as a key strategic channel for banks.
Perfios, India's premier FinTech SaaS innovator, secures $80m investment

Perfios, India’s premier FinTech SaaS innovator, secures $80m investment

Perfios, India's leading B2B SaaS FinTech company, has successfully raised $80m in a funding round led by Teachers' Venture Growth (TVG), the late-stage venture and growth investment arm of the Ontario Teachers’ Pension Plan.

News Stories

National Bank of Iraq empowers digital transformation with Temenos’ core banking system

National Bank of Iraq empowers digital transformation with Temenos’ core banking system

National Bank of Iraq (NBI), a significant component of the Capital Bank Group, has partnered with Temenos, a Swiss-based software company that specializes in banking and finance software, serving a global clientele with innovative FinTech solutions.
Temenos (SIX: TEMN) today announced that National Bank of Iraq (NBI), part of the Capital Bank Group, has successfully gone live with Temenos core banking and payments. NBI, which has 27 branches across Iraq, offers a comprehensive range of services to individuals and businesses in the country. Since 2005, NBI has been majority owned by Capital Bank, one of the top financial institutions operating in the Jordanian and regional markets, with assets of approximately JOD 7.6 billion[1]. With this implementation, NBI moved from its legacy systems onto the same core banking platform as other entities in the Capital Bank Group. This will enable NBI to operate more efficiently and integrate seamlessly with other systems to develop new products faster and deliver an improved customer experience. Capital Bank Group is a long-standing Temenos customer with other entities in the Group including Capital Bank of Jordan, Bank Audi, Société Générale Bank Jordan and NBI Saudi Arabia, already on the Temenos platform. NBI also becomes the first part of the group to adopt Temenos Payments, which enabled the bank to process more than 100,000 transactions of incoming and outgoing domestic and international payments in the first 15 days of operation, with a 99% straight-through processing rate. The migration to the Temenos platform for core banking and payments at NBI was completed in under 12 months thanks to Temenos’ pre-configured banking and payments capabilities and APIs which reduced the need for complex customizations, as well as close collaboration between Temenos, NBI, Capital Bank and delivery partner ITSS. This success was recently recognized in the IBS Intelligence Innovation Awards, with Capital Bank winning ‘Best Implementation of Core Banking Services'. The implementation at NBI follows several other successful transformation projects with Temenos for Capital Bank in the last few years, including the launch of NBI’s branch operations in Saudi Arabia in just 45 days, as well as the integration of Bank Audi and the former Jordanian operations of Société Générale, each of which was achieved in under four months. Collectively, these projects helped Capital Bank to increase operational efficiency by more than 50% within three years, bringing significant cost savings and an improved customer experience. With faster, more accurate processing and immediate service requests, the bank has maintained high customer retention rates and a reputation for service excellence. Izzidin Abusalameh, Chief Operations Officer, Capital Bank Group, commented: “This achievement marks a significant milestone in our digital transformation journey and positions us as a leading player in the banking industry. We have seamlessly transitioned the National Bank of Iraq to a cutting-edge core banking system which will not only enhance operational efficiency but also support providing our customers with a superior digital banking experience. Our continued partnership with Temenos has not only provided us with an advanced technological platform but has also facilitated a culture of flexibility and adaptability, enabling us to execute our ambitious growth plans.” Lee Allcorn, Managing Director, Middle East & Africa, Temenos, said: “Congratulations to National Bank of Iraq and the Capital Bank team on this successful implementation that gives NBI business agility and the same modern technology platform and ability to deploy fast with pre-configured banking capabilities as the rest of the group. With Temenos, Capital Bank Group is future-ready, and we are proud to support them as they continue to innovate and leverage our platform to grow sustainably and enhance the banking experience for customers.”

Flutterwave teams up with Acquired.com to streamline outward remittances in EU and UK

Flutterwave, Africa’s leading payments technology company, and Acquired.com, a specialist in payment processing, have entered into a strategic partnership.
Sublime Security secures $20m in Series A funding to enhance AI-powered email security

Sublime Security secures $20m in Series A funding to enhance AI-powered email security

Sublime Security, an AI-powered, programmable email security platform, has successfully raised $20m in a Series A funding round.
Canadian FinTech firm Qohash secures $17.4m for AI data security expansion

Canadian FinTech firm Qohash secures $17.4m for AI data security expansion

Qohash, a leader in data security software, today announced it has secured $17.4m in Series B funding.
Northern Arc secures $80m boost from IFC, enhancing financial inclusion in India

Northern Arc secures $80m boost from IFC, enhancing financial inclusion in India

Northern Arc, a diversified non-banking financial company (NBFC), proudly announces securing an investment of $80m from the International Finance Corporation (IFC), a member of the World Bank Group.

Download the free AIFinTech100 report

FREE

Download the AIFinTech100 report for 2023 with details on each solution

120,000+ FinTech leaders get exclusive industry stories delivered every week