- Banking technology company Temenos announced its acquisition of Swiss fintech additiv in a half-cash, half-equity transaction.
- The acquisition will bolster Temenos' wealth management franchise with additiv's out-of-the-box orchestration and mass affluent capabilities.
- Both Temenos and additiv made their Finovate debuts at FinovateEurope 2013 in London.
Banking technology firm Temenos has agreed to acquire Swiss fintech additiv. The 50/50 cash and equity deal is expected to be...
- Reset raised $6 million in seed funding from credit union customers and partners to expand its embedded earned wage access platform for credit unions and community banks.
- The company positions earned wage access as a tool to deepen relationships and grow deposits, reporting that cardholders increase deposits by 27%, maintain 36% higher balances, and generate 20% more interchange revenue.
- Credit unions increasingly view earned wage access as competitive infrastructure to defend...
While many banks are still trying to create their stablecoin strategy (or decide to pursue a stablecoin strategy), some of the largest players in payments, acquiring, exchanges, and financial infrastructure are exploring a stablecoin collaboration.
CoinDesk reported that payments giants Stripe, Visa, and Mastercard are backing a stablecoin platform, while Coinbase is considering involvement. The move could challenge the dominance that Circle and Tether have on the stablecoin industry by...
This week's edition of Finovate Global looks at recent fintech headlines from the Eastern European nations of Bulgaria, Albania, and Hungary.
Bulgarian Fintech Paypercut Raises €5M
Paypercut, a fintech based in Sofia, Bulgaria, has secured €5 million in seed funding. The round was co-led by Concentric, Passion Capital, and Araya Ventures, and featured participation from additional investors including SMOK Ventures, Portfolio Ventures, BrightCap Ventures, BlackWood, SABAH.fund,...
- Cash App launched Cash App Tags, NFC-enabled, payment “accessories” that let customers pay without their phone or card.
- The first of these new tags comes in the form of a wand, but the company said that other form factors will be available in the future.
- While payments companies have tried and failed to move the payments form factor from cards and phones, the wands may succeed because they are visible, social, and impossible to ignore.
