Banking Infrastructure

Financial institutions have a “resilience paradox” that is costing them up to 50% of their revenue, according to a study from global infrastructure and connectivity provider BSO.

Estonian identity verification firm Veriff has teamed with mobile money app Monese to provide strengthened and secure digital banking services to European consumers.

Microfinance banking software developer Oradian has netted ?100,000 investment from Middleton Enterprises.

Deutsche Bank AG has made an investment into German FinTech startup Traxpay, in the hopes of improving its own supply chain finance offering.

London-based startup Tide is apparently about to join the smattering of other FinTechs expanding into India.

Okra, which helps to connect apps with bank accounts, has reportedly raised $1m in pre-seed funding.

Traditional financial market asset management platform Seven Stars Cloud Group has entered a purchase agreement with GT Dollar for the sale of SSC common stock.

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.

Digital banking platform Omnio Group has partnered with Token.io to give its financial institution customers access to open banking services and PSD2 compliance.

Beeks Financial Cloud Group, a cloud computing and connectivity provider for banks, has received a £2m R&D grant from Scottish Enterprise.