Banking-as-a-service

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Social impact fintech Spiral raises $28m for B2B pivot

/startups

Social impact fintech Spiral raises $28m for B2B pivot

New York-based startup Spiral has raised $28 million to launch its 'Impact-as-a-Service' platform designed to help banks and fintechs embed sustainability and social impact into their businesses.

Railsr agrees rescue sale to investors

/payments

Railsr agrees rescue sale to investors

Embedded banking platform Railsr has been saved from collapse after agreeing a sale to a consortium of investors led by D Square Capital. Terms of the deal were not disclosed.

BaaS platform Synctera makes Canadian play

/startups

BaaS platform Synctera makes Canadian play

American Banking-as-a-Service player Synctera has raised $15 million and made a move north of the border through a partnership with National Bank of Canada.

Weavr acquires Comma to combine embedded and open banking

/payments

Weavr acquires Comma to combine embedded and open banking

Weavr, the London-based startup that allows businesses to embed banking and payments into their mobile app or SaaS platforms, has acquired B2B Open Banking platform, Comma Payments.

UK BaaS platform Griffin becomes a bank

/startups

UK BaaS platform Griffin becomes a bank

UK Banking-as-a-Service platform Griffin has been authorised as a UK bank subject to restrictions.

Embedded banking player Treasury Prime raises $40m

/retail

Embedded banking player Treasury Prime raises $40m

Embedded banking platform Treasury Prime has raised $40 million a Series C funding round led by BAM Elevate.

Solaris reshuffles management board

/people

Solaris reshuffles management board

Solaris has announced a rejig of its management board. This move is linked to a change in their corporate strategy following the placement of a new CEO.

Global FS sector finds appetite for open finance

/retail

Global FS sector finds appetite for open finance

There is a growing appetite for the next evolutionary step in open banking - open finance - within the global FS sector, with nearly half of senior professionals considering it a "must have" in the context of data sharing.

Temenos invests in US Banking-as-a-Service provider Mbanq

/retail

Temenos invests in US Banking-as-a-Service provider Mbanq

Swiss core banking vendor Temenos has invested in US Banking-as-a-Service provider Mbanq.

Cross-border payments startup Buckzy raises $14.5m

/payments

Cross-border payments startup Buckzy raises $14.5m

Canadian real-time cross-border payments fintech Buckzy has raised US$14.5 million in a Series A funding round led by Mistral Venture Partners and Uncorrelated Ventures.

Griffin moves banking-as-a-service sandbox out of beta

/startups

Griffin moves banking-as-a-service sandbox out of beta

UK-based banking-as-a-service startup Griffin has launched a sandbox for fintechs to build prototypes and test applications on its platform.

Fund services firms lagging in digital journey

/regulation

Fund services firms lagging in digital journey

Despite the fact that the vast majority of trust, corporate and fund services see the benefit of adopting digital technology, only a third have actually started on their digitalisation projects.

Money20/20 US: Marqeta adds suite of BaaS products to card issuing platform

/payments

Money20/20 US: Marqeta adds suite of BaaS products to card issuing platform

Global card issuer, Marqeta, today released a suite of seven products to offer embedded end-to-end banking products, expanding the portfolio of its card issuing platform.

NatWest to launch BaaS business in UK

/cloud

NatWest to launch BaaS business in UK

UK high street bank NatWest has teamed up with European software vendor Vodeno Group to launch a Banking-as-a-Service (BaaS) business for the UK market.

Sibos 2022: Will banks make hay while the fintechs suffer?

/payments

Sibos 2022: Will banks make hay while the fintechs suffer?

Questioned as to whether banks’ history of failing to innovate is what paved the way for challengers to flourish, Anne Boden, founder and CEO of Starling Bank, explained to the Sibos audience that while big banks struggled to transform their platforms for years, a slew of neobanks emerged with convincing value propositions.

Sibos 2022: BaaS provider delays cost fintechs $11m a year – ClearBank & Aite-Novarica

/Sibos

Sibos 2022: BaaS provider delays cost fintechs $11m a year – ClearBank & Aite-Novarica

New research from ClearBank and Aite-Novarica Group reveals that half of fintechs are losing $11m per year in product delays due to BaaS (Banking-as-a-Service) providers. The report states that fintech firms must now embrace an embedded banking approach.

Railsr raises $46 million

/retail

Railsr raises $46 million

Embedded finance platform Railsr has closed on a $46 million Series C round of combined equity and debt.

Finastra and Visa introduce global BaaS offering integrating Visa Direct

/payments

Finastra and Visa introduce global BaaS offering integrating Visa Direct

Finastra and Visa are working on a Banking-as-a-Service collaboration that will enable thousands of banks and financial institutions to offer faster cross-border payouts for their customers via Visa Direct.

HSBC invests $35 million in Monese

/retail

HSBC invests $35 million in Monese

Mobile banking startup Monese has bagged a $35 million investment from HSBC to support its move into the banking-as-a-service space.

Wio launches 'platform bank' in UAE

/startups

Wio launches 'platform bank' in UAE

Wio Bank has launched as the first "platform bank" in the UAE, offering apps, embedded finance and BaaS offerings in the region.

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