Identification/Background checks

Banks are better at building apps than insurers, according to new research from digital transformation company Mobiquity.

Online fraud prevention company SEON has teamed up with TruNarrative to improve verification capabilities.

Last week’s 32 FinTech rounds highlight how Latin America is exploding with new activity, how open banking has nudged closer to being fully adopted across Europe and the rising popularity of teen-focused ventures.

Venture capital firms continued to actively back RegTech companies in 2020 as financial institutions left the space.

Beyond Identity has secured $75m in Series B, just a matter months after it closed its Series A on $30m.

Identity verification-as-a-service platform IDnow has closed a €15m growth funding from European Investment Bank.

Cybersecurity company WISeKey International has received a $5m convertible loan from Crede Capital, a US-based investor.

While open banking is still to be fully realised in Europe and the US, Singaporean authorities have joined forced to launch a digital infrastructure that offers something similar.

Last week week saw 28 FinTechs close investment deals. Three sectors in particular proved especially successful.

India-based Signzy has added another $3m to its coffers just months after the startup raised $5.4m in a previous round.