Marketplace Lending

MotoRefi secures Goldman Sachs backing in $45m Series B

US Auto FinTech MotoRefi has closed a $45m Series B round led by Goldman Sachs Asset Management’s Growth Equity team.
Citi and Viola Credit back Defacto's SME lending with €167m

Citi and Viola Credit back Defacto’s SME lending with €167m

French FinTech firm, Defacto, a leading provider of loans to small and medium-sized enterprises (SMEs) via an API, has recently closed a significant securitisation fund.

Capital One: Pressure from non-banks is hurting commercial lending

Commercial lender Capital One is under pricing pressure from a market littered with lenders. Read more: bankinnovation

Germany’s Justhome bags seed to build home financing tools

Justhome, a next generation home financing startup, has collected €3.3m in its pre-seed round.

FinTech innovator Equabli secures $3.35m in funding

Equabli, a leading light in the FinTech sector, is celebrating the successful completion of its most recent financing round.

Starling Bank in hot waters after having only lent 1% of the total amount...

When Starling Bank was granted funding from Royal Bank of Scotland, the challenger bank promised to lend £913m to SMEs by 2023.

India P2P lending startup LenDen lands $500k to meet new RBI regs

LenDen Club, a Mumbai-based peer-to-peer lending platform, has landed a $500,000 equity investment from three investors.

Incuto bags £1.75m in funding round to support its growth in the UK

Incuto, which aims to provide everyone with access to affordable finance, has closed a £1.75m funding round.

Rebel pulls in $10m to build new loan products for Brazilians

Rebel, a digital lending platform for consumers in Brazil, has secured $10m in new equity to help build new products.

Nationwide and Smartr365 push for digital evolution in the mortgage industry

Smartr365, a leading end-to-end mortgage platform, and Nationwide, the world's largest building society, recently convened in London to discuss their partnership and the forthcoming...
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National Bank of Iraq empowers digital transformation with Temenos’ core banking system

National Bank of Iraq empowers digital transformation with Temenos’ core banking system

National Bank of Iraq (NBI), a significant component of the Capital Bank Group, has partnered with Temenos, a Swiss-based software company that specializes in banking and finance software, serving a global clientele with innovative FinTech solutions.
Temenos (SIX: TEMN) today announced that National Bank of Iraq (NBI), part of the Capital Bank Group, has successfully gone live with Temenos core banking and payments. NBI, which has 27 branches across Iraq, offers a comprehensive range of services to individuals and businesses in the country. Since 2005, NBI has been majority owned by Capital Bank, one of the top financial institutions operating in the Jordanian and regional markets, with assets of approximately JOD 7.6 billion[1]. With this implementation, NBI moved from its legacy systems onto the same core banking platform as other entities in the Capital Bank Group. This will enable NBI to operate more efficiently and integrate seamlessly with other systems to develop new products faster and deliver an improved customer experience. Capital Bank Group is a long-standing Temenos customer with other entities in the Group including Capital Bank of Jordan, Bank Audi, Société Générale Bank Jordan and NBI Saudi Arabia, already on the Temenos platform. NBI also becomes the first part of the group to adopt Temenos Payments, which enabled the bank to process more than 100,000 transactions of incoming and outgoing domestic and international payments in the first 15 days of operation, with a 99% straight-through processing rate. The migration to the Temenos platform for core banking and payments at NBI was completed in under 12 months thanks to Temenos’ pre-configured banking and payments capabilities and APIs which reduced the need for complex customizations, as well as close collaboration between Temenos, NBI, Capital Bank and delivery partner ITSS. This success was recently recognized in the IBS Intelligence Innovation Awards, with Capital Bank winning ‘Best Implementation of Core Banking Services'. The implementation at NBI follows several other successful transformation projects with Temenos for Capital Bank in the last few years, including the launch of NBI’s branch operations in Saudi Arabia in just 45 days, as well as the integration of Bank Audi and the former Jordanian operations of Société Générale, each of which was achieved in under four months. Collectively, these projects helped Capital Bank to increase operational efficiency by more than 50% within three years, bringing significant cost savings and an improved customer experience. With faster, more accurate processing and immediate service requests, the bank has maintained high customer retention rates and a reputation for service excellence. Izzidin Abusalameh, Chief Operations Officer, Capital Bank Group, commented: “This achievement marks a significant milestone in our digital transformation journey and positions us as a leading player in the banking industry. We have seamlessly transitioned the National Bank of Iraq to a cutting-edge core banking system which will not only enhance operational efficiency but also support providing our customers with a superior digital banking experience. Our continued partnership with Temenos has not only provided us with an advanced technological platform but has also facilitated a culture of flexibility and adaptability, enabling us to execute our ambitious growth plans.” Lee Allcorn, Managing Director, Middle East & Africa, Temenos, said: “Congratulations to National Bank of Iraq and the Capital Bank team on this successful implementation that gives NBI business agility and the same modern technology platform and ability to deploy fast with pre-configured banking capabilities as the rest of the group. With Temenos, Capital Bank Group is future-ready, and we are proud to support them as they continue to innovate and leverage our platform to grow sustainably and enhance the banking experience for customers.”

Flutterwave teams up with Acquired.com to streamline outward remittances in EU and UK

Flutterwave, Africa’s leading payments technology company, and Acquired.com, a specialist in payment processing, have entered into a strategic partnership.
Sublime Security secures $20m in Series A funding to enhance AI-powered email security

Sublime Security secures $20m in Series A funding to enhance AI-powered email security

Sublime Security, an AI-powered, programmable email security platform, has successfully raised $20m in a Series A funding round.
Canadian FinTech firm Qohash secures $17.4m for AI data security expansion

Canadian FinTech firm Qohash secures $17.4m for AI data security expansion

Qohash, a leader in data security software, today announced it has secured $17.4m in Series B funding.
Northern Arc secures $80m boost from IFC, enhancing financial inclusion in India

Northern Arc secures $80m boost from IFC, enhancing financial inclusion in India

Northern Arc, a diversified non-banking financial company (NBFC), proudly announces securing an investment of $80m from the International Finance Corporation (IFC), a member of the World Bank Group.
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