ICYMI funding round-up: Upflow, TRM Labs, Booste, Crediverso & more
A heaping helpful of funding rounds from this week to get your teeth into.
Trade Finance
Mauritius Commercial Bank adopts Mitech trade finance tech
Commercial bank to deploy its new platform on the cloud.
Intraday FX swaps move closer with 11-bank trial
The bank-led initiative uses the platform from London-based firm Finteum.
Commerzbank confirms first commercial transactions on Marco Polo network
Commerzbank, İşbank, LBBW and two corporates have completed transactions ahead of a launch.
Mashreq takes Oracle components around existing Flexcube core
Mashreq Bank is seeking to improve its transaction banking proposition.
Digitising trade finance: the next frontier for financial services innovation
The next breakthrough in trade finance is automation driven by data interchange through APIs.
An era of digital trade
Technology creates opportunities to transform existing processes across global supply chains.
Corporate banking’s biggest challenges in 2021, and how to solve them
Three key areas of focus are cash management, working capital, and trade finance.
UK fintechs Token and Tradeteq get investment
$15m for open banking payments platform Token and $9.4m for trade finance tech specialist Tradeteq.
Brexit forces interest-rate derivatives trading shift to US
A permanent shift to New York would be particularly damaging for London.
CME Group and IHS Markit create post trade joint venture
A handful of CME’s systems will combine with IHS’ MarkitServ.
Digitisation answers the quest for risk mitigation in global trade
These concerns have been heightened by a series of fraud allegations relating to commodity transactions.
Crypto platforms drop support for XRP amid SEC’s Ripple lawsuit
Some crypto exchanges have delisted it while others have halted, suspended, or disabled trading for XRP.
Sberbank Switzerland outsources core to Avaloq
The implementation and migration took ten months.
Swiss government launches green fintech network
Sustainable investments in Switzerland have risen to CHF 1.16 trillion ($1.2 trillion).
Denmark’s EKF picks Calypso for its treasury software
The credit export agency selected Calypso after an “extensive” tender.
India’s Wipro to buy Finastra partner Encore Theme Technologies
Encore Theme claims to be one of Finastra’s “fastest growing partners”.
Calastone acquired by US private equity firm Carlyle Group
Financial details of the agreement have not been disclosed.
Trading 212 integrates TrueLayer’s open banking platform
The API allows users to quickly and securely fund their investment account, using payments initiation.
Bank of Thailand launches “world’s first” blockchain platform for bond issuance
IBM acted as a technology partner with its IBM Cloud.
Meet Mitigram, the female-founded fintech backed by a female-led VC
Mitigram is a global trade finance platform designed for exporters, traders and banks.
Impact investing: the powerful new trend
Barry Palte, chairman of EQ Capital Partners makes a case for ESG investments.
The new face of client relationships in wealth management
Wealth managers now have access to more tools than ever to digitise processes.
The PRIIPs EU stalemate: the story so far
The fate of the current PRIIPS Key Information Documents (KIDs) remains uncertain.
Nasdaq proposes IPO alternative to raise funds
Nasdaq’s proposal to the SEC pushes for alternative routes to the public markets.
Gemini picks Eventus Systems for trade surveillance
Popular cryptocurrency exchange boosts its monitoring.
Robinhood’s value tops $11bn on new funding round
The new valuation increased by nearly one-third from a previous round just one month ago.
BaFin employees increasingly traded Wirecard shares
2.4% of all reported private financial transactions by its staff were transactions with Wirecard in H1.
Bond issuance is ballooning
But the process of issuing bonds is unbelievably slow and largely manual.
Standard Chartered signs multi-year cloud deal with Microsoft
The bank is shifting a series of systems to the cloud by 2025.
BIS and HKMA launch trade technology challenge
New scheme kicks off with approval from a handful of Chinese regulators.
Affirm eyes IPO with up to $10bn valuation
PoS lender is working with Goldman Sachs in early-stage discussions of a potential listing.
LSE considers sale of Borsa Italiana to appease regulators
LSE exploring options to push through $27 billion acquisition.
ING partners with genesis to launch Credit Insurance Application
Dutch bank plans to revamp credit and political risk insurance.
Deutsche Bank buys minority stake in Traxpay
Deutsche wants more European banks to invest in the platform.
DBS and Infor partner to offer SMEs digital trade financing
The partnership is one of a line of joint projects between Infor and DBS.
Carta faces gender discrimination lawsuit
Paying her less than her male peers and subjecting her to other forms of gender discrimination.
nCino prices IPO above price range at $31 a share
The company sold 8.06 million shares to raise $249.86 million on 13 July.
ASB Bank replaces legacy trade finance system with CGI’s Trade360
The New Zealand bank is deploying the platform on the cloud.
Bank of England apologises for role of former governors linked to slave trade
British taxpayers have been paying off slave owners from 1833 to 2015.
