Daily News at Sibos 2019: Day One
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North America
Stripe hits $35 billion valuation on back of fresh funding
Stripe’s value has increased 56% since the start of 2019.
Velocity Credit Union taps Fiserv for DNA core processing system
Velocity chooses Fiserv “to remain competitive”.
Insurtech Cover Genius forms ‘first of a kind’ partnership with ShipStation
The partnership will effect UK, Canadian and Australian merchant customers.
CFPB puts Bank of America under fake accounts microscope
The regulator has been investigating BofA since March 2019.
US bank FNBT chooses Finastra’s Fusion Phoenix core technology
The bank also bought 11 other Finastra solutions.
Barclays and JP Morgan Chase invest in TouchBistro
TouchBistro leads “a technology renaissance” for restaurants.
Wells Fargo pilots internal settlement service using DLT
The pilot is planned for 2020.
Trulioo raises $70m with Goldman Sachs, Citi and Santander
Another CAD 10m was raised in a separate round.
Why BNY Mellon thinks fintechs are friends not foes
BNY’s head of digital explains how the company partners and invests in fintechs.
Digital Reasoning reveals $40m funding round and Standard Chartered partnership
Digital Reasoning uses AI to understand human communication
AI analytics platform FinTech Studios raises $5.1m
The company uses AI, NLP and ML to aid decision making.
Greenlight raises $54m to release debit card for kids
Greenlight’s app can monitor children’s spending and set savings goals.
Behind the music: Tuning the noisiness of your KYC
Scanovate’s KYC Orchestra has been doing full tours in the EU, Latin America, Israel and the US.
Plaid reveals strategic investments from Mastercard and Visa
Plaid says there’s opportunity to align with Visa and Mastercard.
Insurtech Broker Buddha raises $4.5m in round led by Vertex Ventures
Vertex Ventures says Broker Buddha is “driving significant industry change”.
The final extension for the 20th Banking Technology Awards
There’s one more chance to submit your entries!
Data-cleaning platform Trifacta raises $100m
The funding round will open untapped industries to Trifacta.
CFPB and state regulators launch US consumer network for fintech
The network will drive competition, consumer access and financial inclusion.
Max Levchin’s pay later Affirm said to be raising $1.5bn
The main investor is supposedly known as a warehouse facility.
Element AI raises CAD 200m in Series B funding round
Element AI has raised CAD 340 million in total so far.
Confirmations bring peace of mind to cross-border payments
Swift is working on a new universal confirmations initiative.
DN Intersect 2019: final round up and key takeaways
The conference was predominantly focused on North America.
DN Intersect 2019: “US banks can learn from McDonalds”
“It’s a lot of fun, very easy to navigate and offers the customer complete choice.”
DN Intersect 2019: US Banks are “already beaten” if they ignore APIs
“It’s time the US starts paying attention to open banking.”
Mastercard and R3 deliver blockchain cross-border payments solution
The partnership will focus on connecting global faster payments infrastructures.
Why has mid-market lending stagnated in banking?
One potential fix for this issue is the use of machine learning fintech.
DN Intersect 2019: DN battles with banks to win trust in the automation race
DN says banks are “very rigid” with AI-automated ATM functions.
DN Intersect 2019: Apple Card to be “most successful bank account launch in history”
“If you don’t go mobile […] then you’re going to look like Nokia,” says Richard Crone.
DN Intersect 2019: Libra is the “biggest greenfield opportunity” for banks
There are fears banks have missed the boat with Libra.
US Bank acquires Talech to help drive digital transformation
The deal enhances the bank’s digital services for SMEs.
DN Intersect 2019: Forrester insists digital is “the least important” for customer loyalty
The research publisher says human interaction is “the most important” factor.
New challenger bank Zenus picks NICE Actimize AML tech
The bank wants a cloud-focused financial crime strategy.
Volante launches free SaaS RTP instant payments processing
The offering is for the US Clearing House (TCH) RTP and European SEPA RT1 or TIPS instant payments.
DN Intersect 2019 Day 1 key takeaways: ‘Branches are here to stay’
FinTech Futures shares Diebold Nixdorf’s latest insights live from Las Vegas.
DN Intersect 2019: Co-op calls for greater fintech integration to combat fraud
It pins the low adoption rates down to a lack of education and tedious back-end processes.
AI firm Syte eyes global expansion with $21.5m funding
The company will branch into visual AI-powered personalisation.
DN Intersect 2019: TwinStar can finally innovate with new cloud solution
Now credit unions can work within a tile framework.
Goldman Sachs lends Mexican start-up Konfio $100m
The companies had “several” event run-ins.
AI: The missing piece for Cobol modernisation in finance
Modernisation for mission-critical software is in sight for the first time.
