Small business lending’s new data-driven approach may be headed for more scrutiny on Capitol Hill. To that end, Rep. Maxine Waters (California), the top Democrat ranking member on the House Financial Services Committee, and Rep. Nydia Velázquez (D-New York), ranking member on the House Small...
Federal Reserve rate hikes and online rumors and misconceptions contributed to the collapse of Silicon Valley Bank. So said former Silicon Valley Bank CEO Gregory W. Becker in written testimony prepared for the Senate Committee on Banking, Housing and Urban Affairs and posted on the committee’s website Monday (May...
Smart has raised $95 million in Series E funding to grow its retirement savings technology platform. The London-headquartered FinTech aims to continue to expand globally and build on its strong performance in Europe, the United States, the Middle East and Asia with its Keystone platform that...
Payables automation platform Tipalti has raised $150 million with the help of JPMorgan Chase. The incremental growth funding round, announced in a Monday (May 15) press release, also included Hercules Capital, and will help Tipalti to further invest in product innovation and supporting its clients....
M-KOPA has raised $250 million to expand its financial services offering across sub-Saharan Africa. The Kenya-based company will use the new debt and equity funding to continue to grow and to improve financial and digital inclusion for underbanked consumers in the region, M-KOPA said in a Monday (May...
Nigerian mobile companies are reportedly halting text services to banks over a $259 million bill. The firms are set to disconnect the Unstructured Supplementary Service Data with banks Gbenga Adebayo, chairman of the Association of Licensed Telecommunications Operators of Nigeria told Bloomberg News Monday (May 15). According to...
Zip has added procure-to-pay capabilities to its intake-to-procure platform. The addition of these capabilities creates the company’s Intake-to-Pay, a unified platform for procurement that orchestrates spend from initial request to spend approval, payment processing and payouts, Zip said in a Monday (May 15) press release. “The launch...
Payments processor Jack Henry says it is “operationally ready” to support the Federal Reserve’s FedNow service. FedNow is the U.S. central bank’s real-time payments network due to launch in July, and Jack Henry announced Monday (May 15) that more than 20 of its clients will...
With recent research showing that consumers tend to order the same items from the same restaurants creating questions about the value of delivery aggregators, more restaurant chains are beefing up homegrown loyalty programs and creating direct relationships with diners. In “Connected Dining: Third-Party Restaurant Aggregators...
