Luma Financial Technologies Secures $63M Series C with Major Bank Backing
A consortium of Wall Street giants including Bank of America, Morgan Stanley, UBS, and TD Bank Group have joined Sixth Street Growth in a $63 million Series C investment for Luma Financial Technologies, signaling strong institutional ... Read More
Google Deploys AI to Combat Scam Ads, Removing 500 Million in 2024
Google has intensified its crackdown on fraudulent advertising through advanced AI systems, suspending a record 39.2 million advertiser accounts in the U.S. this year—more than triple its 2023 enforcement actions. The tech giant reported ... Read More
Wise Launches Group Spending Feature for UK Customers
Money transfer giant Wise has introduced a new feature called ‘Spend with Others’, allowing users to share spending with a group of family or friends without the hassle of opening a joint account. The feature is now available for free ... Read More
Belvo Raises $15M to Expand Open Finance in Latin America
Mexico City-based open finance API platform Belvo has raised $15 million in fresh funding to accelerate the development of its data and payments suite across Latin America. The round was led by Quona Capital and joined by Citi Ventures, ... Read More
US Judge Strikes Down CFPB Cap on Credit Card Late Fees
A federal judge in Texas has officially nullified a Consumer Financial Protection Bureau (CFPB) rule that sought to cap credit card late fees at $8. The move comes after a joint request from both the CFPB and a coalition of business and ... Read More
Klarna and Clover Partner to Bring BNPL to 100,000 US Retail Stores
Klarna is dramatically expanding its US in-store presence through a strategic partnership with Fiserv’s Clover, making its buy now, pay later (BNPL) options available at approximately 100,000 physical retail locations. The deal marks a ... Read More
Bunq Pursues US Expansion with Broker-Dealer License After Record Profits
Dutch digital bank bunq is advancing its US expansion plans by filing for a broker-dealer license, marking a strategic shift in its approach to cracking the American market. This move comes as the neobank reports impressive financial ... Read More
Friday Harbor Secures $6M to Revolutionize Mortgage Lending with AI
The mortgage tech startup Friday Harbor has raised $6 million in seed funding to expand its AI-powered platform that transforms loan origination. The round was led by Abstract Ventures and Mischief (co-founded by Plaid CEO Zach Perret), ... Read More
Banked Accelerates Pay by Bank Strategy with VibePay Acquisition
In a strategic move to boost account-to-account payment adoption, fintech firm Banked has acquired UK consumer payments app VibePay. The acquisition aims to bridge the rewards gap between debit and credit payments by introducing incentive ... Read More
Fnality Introduces Breakthrough ‘Earmarking’ Feature for Programmable Wholesale Payments
The bank-backed blockchain consortium Fnality has launched a pioneering ‘Earmarking’ capability that brings smart contract functionality to institutional payments using digital representations of central bank money. Developed in ... Read More