Warburg Pincus takes stake in core software firm Avaloq

Private equity firm Warburg Pincus is acquiring a 35% stake in Swiss financial software firm Avaloq. The deal will see Warburg Pincus pump a reported $300m into the Zurich-based company.

Santander UK bins legacy systems and manual processes in favour of nCino’s banking system

The UK branch of the Spanish bank Santander has enlisted the services of cloud-banking developer nCino to refresh some of its systems.

NYMBUS scores $53m in its funding round

NYMBUS, which develops banking technology, has raised $53m in its funding round to support its rising demand.

Sony Bank launches online banking service for English speaking customers in Japan

Japanese Sony Bank has unveiled a new English-language online banking service to make it easier for foreigners to open and manage their accounts.

OpenFin takes $15m from Wall Street firms

New York-based startup OpenFin has landed $15m in its Series B round from a host of Wall Street firms and their venture arms for its financial desktop applications operating layer.

Financial services, regulated industries comms software company Messagepoint gets NewSpring backing

Financial services, insurance and other regulated industries-focused software provider Messagepoint has received a boost thanks to backing from buyout, growth and mezzanine investor NewSpring.

NexBank bags $20m in equity raise

Texas-based commercial banking, mortgage banking and institutional services provider NexBank Capital has scored a $20m common equity raise.

BankFirst partners with Saylent to improve customer engagement

Saylent, a provider of data analytics and targeted marketing automation software for financial institutions, has formed a partnership with BankFirst Financial Services.

Less than a fifth of banks use AI technology holistically

Despite nearly all commercial banks using AI, only 19% are using the technology holistically across the enterprise, according to a study from Genpact.

Deloitte study claims just 34% of banks have implemented digital account opening

A new study from Deloitte claims that 34% of banks have implemented digital account opening as a result of the coronavirus pandemic.

News Stories

Goal-based investing is a trend for wealth management companies to look out for

Consumer expectations are changing and they want to get a better control of their finances and their futures.

JPMorgan pledges $350m to support minority owned companies with financial needs

JPMorgan Chase has committed $350m over the next five years to help close the racial wealth divide prevalent in Black, Latinx and women-owned small businesses.

Crypto firm Anchorage raises $80m to increase institutional adoption of digital assets

After getting federal banking charter last month, cryptocurrency banking company Anchorage raised $80m in a Series C funding round.

Relay teams up with Insurercore

PropTech Relay has inked a new partnership with UK-based insurance networking platform Insurercore, aimed at providing a comprehensive solution to insurance and wholesale brokers looking for capacity.

Just one in ten managers understand the extent of the Federal Family and Medical...

Worryingly, only 11% of manager understand the extent of the Federal Family and Medical Leave Act (FMLA), potentially leaving businesses open for law violations.

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