FinTech Focus: Catch latest developments of the week

By Gloria Methri

FinTechs continue to play a pivotal role in transforming and reshaping the traditional contours of the financial industry. As technology becomes increasingly intertwined with financial services, FinTech innovations are not merely incremental but rather revolutionary, paving the way for enhanced efficiency, accessibility, and novel business models.

This week’s FinTech Focus brings forth a curated selection of the most significant developments that underscore the dynamic nature of this sector.

Let’s look at the top six announcements made by the FinTech bigwigs this week:

• nCino

We’re excited to share that Desjardins has selected nCino, Inc.’s Automated Spreading Solution to automate loan origination processes through machine learning. By expanding their partnership with nCino, Desjardins will realize the benefits of a single platform further.

• Network International

We’re excited to extend our partnership with Mastercard to offer the Brighterion fraud prevention solution to over 60,000 merchants across the Middle East and Africa. Amidst rising fraud risks across the entire payment value chain, Mastercard’s Brighterion monitors transactions using machine learning algorithms that continuously update to keep up with fraudsters’ increasingly sophisticated techniques.

• Nuapay

We’ve got big news… GoCardless has entered an agreement to acquire Nuapay! EML Payments Limited has entered into an agreement to sell the Sentenial Group (operating globally under the brand Nuapay) to GoCardless, subject to regulatory approvals.

• Solaris

We are proud to announce the signing of our Series F funding round, consisting of EUR 96 million in additional capital and up to EUR 100 million in financial guarantees led by existing investors. The round marks an exciting new chapter for Solaris as we use the funds to onboard the ADAC credit card program, strengthen our core capital, and invest in the resilience of our platform.

• Temenos

Temenos is excited to share that Markaaz Advanced Global Solutions is now available on Temenos Exchange! Markaaz offers business verification solutions that accelerate onboarding, combat compliance risk, and increase revenue for banks, lenders, FinTechs, and other finserv providers.

• Worldline

Worldline and Groupe Crédit Agricole are proud to announce the closing of their strategic partnership and the effective creation of their joint venture for the French payment market. After the green light from the European Commission, this key milestone will allow us to actively prepare for the future launch of enhanced payment solutions for French merchants.