Marketplace Lending

India’s largest lending FinTech EarlySalary raises $110m

India’s largest lending FinTech EarlySalary raises $110m

EarlySalary, which claims to be India’s largest lending FinTech, has bagged $110m for its Series D round, which was led by TPG’s The Rise Fund and Norwest Venture Partners.
Nationwide- Smart365-partner-to-boost-automation-in-mortgage-processes

Nationwide, Smart365 partner to boost automation in mortgage processes

Following a successful pilot, building society Nationwide has launched an API integration with end-to-end mortgage platform Smartr365.
Credit risk FinTech DirectID receives €9m minority investment

Credit risk FinTech DirectID receives €9m minority investment

UK-based DirectID, which offers credit risk, risk analytics and predictive modelling services, has received a €9m minority investment from Ingka Investments.
Barclays embraces next-generation FinTech with £3m Trade Ledger investment

Barclays embraces next-generation FinTech with £3m Trade Ledger investment

Barclays, a multinational British banking and financial services company, has made a strategic move into next-generation business finance with a significant investment in Trade Ledger.
Philippine FinTech, Salmon, attracts $20m in Series A

Philippine FinTech, Salmon, attracts $20m in debt financing

Salmon, a thriving consumer FinTech start-up based in the Philippines, has set a new funding record in the country's technology sector. The company recently secured...
Jifiti secures EMI license to boost embedded lending across Europe

Jifiti secures EMI license to boost embedded lending across Europe

Jifiti, recognised for its leadership in white-labeled embedded lending, has recently received a European Electronic Money Institution (EMI) license.
Carputty lands $80m boost to revolutionise auto finance

Carputty lands $80m boost to revolutionise auto finance

Carputty, a pioneering FinTech company at the forefront of auto financing and ownership, has secured a $75m warehouse financing facility provided by Silicon Valley Bank (SVB), a branch of First Citizens Bank.

After a tough year for lending Prosper signs $5bn deal

After a tough year for the online lending market and a change of CEOs, peer-to-peer marketplace Prosper has secured a deal with a consortium of investors for up to $5bn worth of loans.

Brazil P2P lending startup IOUU closes $1.3m round

IOUU, a peer-to-peer lending platform, has reportedly raised $1.3m in a funding round as it looks to develop several new products.

BNPL firm Sunbit secures unicorn status following $130m Series D

California-headquartered buy now, pay later (BNPL) company Sunbit has achieved unicorn status after a $130m Series D brought its value up to $1.1bn.
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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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