Latest Pear VC News, Insights & Analysis - FinTech Global

Redcoat AI secures $4.24m from Pear VC & others to combat AI threats in cybersecurity

Email/Communication Security

Redcoat AI secures $4.24m from Pear VC & others to combat...

March 15, 2024

Redcoat AI, a pioneering cybersecurity company emerging from stealth mode, announced today its successful funding round, securing $4.24m.

FinTech News

InsurTech innovator Federato lands $25m investment led by Caffeinated Capital

June 28, 2023

Federato, an innovative InsurTech firm, introduced as the insurance industry's premier RiskOps underwriting platform, disclosed today a successful $25m Series B fundraising round.

Cardless locks in $75m in funding from i80 Group

FinTech News

Cardless locks in $75m in funding from i80 Group

May 17, 2023

San Francisco-based FinTech firm, Cardless, Inc., a pioneer in the creation of custom co-branded credit card products, has announced securing a substantial credit facility.

CyberTech

Data protection platform Nightfall AI scores $20.3m

November 8, 2019

Nightfall AI, a cloud-native data loss prevention platform, has scored $20.3m in funding led by Bain Capital Ventures and Venrock.

Big Data

Heap collects $55m in Series C to support international expansion

July 24, 2019

Heap, which collects and organises customer behavioural data, has closes its Series C round on $55m.

Latest Analysis

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

Banking Infrastructure

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

April 25, 2024

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.”

B2B Payments

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

April 25, 2024

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

Email/Communication Security

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

April 25, 2024

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

Data Security/Data Governance

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

April 25, 2024