The Fintech Times Bi-Weekly News Roundup on Thursday 8 February 2024 brings you the latest updates from the global fintech industry.
Partnerships and collaborations
iDenfy, the Lithuania-based regtech, has forged a strategic partnership with RaiseFX, an online CFD broker sector company, to enhance security measures and streamline ID verification workflows. This partnership will help RaiseFX create a user-friendly ID verification workflow, enabling users to access trading and investment opportunities in seconds.
Boont, the tech-driven Croatian startup MGA, has chosen to work with Insly to supply insurance software for all its backend processes. Boont chose Insly due to its flexibility, scalability, and ease of integration and was also ‘impressed’ with its back-office functionality and ability to connect to its unique frontend systems.
Mortgage Brain, a technology provider to the mortgage industry, announces a partnership with Leeds Building Society. This collaboration introduces a fully customised Criteria Brain integration on Leeds Building Society’s intermediary website to enhance the mortgage search process for its intermediaries.
The Open Property Data Association (OPDA) has welcomed finova, the UK cloud-based mortgages and savings software provider, as an associate member. finova is a provider of mortgage sales and originations platforms used by lenders. OPDA is the UK’s independent industry body for companies innovating in the property industry through data collaboration.
Propflo, an AI retrofit platform, has partnered with Ripple Energy to make owning a source of green energy affordable and accessible to homeowners and tenants without the need for on-site installations. Using Propflo’s data model, Ripple will be integrated into the GreenVal retrofit one-stop-shop as well as through the Propflo HomeHub for longer term engagement.
Global fintech TransferGo has welcomed three new recruits to its executive team – Jonny Steel as chief marketing officer, while Sarah Fern has stepped into the role of chief people officer. Simon McFeely also joins as chief compliance officer. The hires are part of TransferGo’s plans to ‘continue to grow rapidly and scale the business in new markets in Asia, Africa and South America’.
Unity Trust Bank, the commercial bank with a social conscience that serves SMEs and organisations, has appointed Colin Fyfe as its CEO. He joins Unity with more than 40 years’ experience in the banking sector including 10 years as CEO at two building societies.
Levenue, a revenue-based financing marketplace appoints Rolf Hickmann to its board of directors. The addition of Hickmann, a data modelling expert, reflects Levenue’s commitment to create a more transparent model for connecting entrepreneurs and investors by materially enhancing Levenue’s underwriting capabilities.
Finverity, the trade and supply chain finance digital ecosystem, has promoted Symmie Swil to chief operating officer, while Alex Fenechiu, co-founder of Finverity and former COO, transitions to the role of chief revenue officer. Swil joined as head of operations un 2023 and was previously deputy CEO of Investec CIB UK and head of SME Banking for Starling Bank. Fenechiu will focus on driving revenue growth.
Kroll, the independent provider of global risk and financial advisory solutions, appoints Tom Bock as MD and head of its new US Financial Crime Advisory (FCA) practice. Under Bock’s leadership, the FCA practice will bring customised solutions to help financial institutions, fintech companies and corporations meet their most critical financial crime compliance challenges.
Signicat, the digital identity solutions company, has named Philipp Wegmann as country manager DACH. Wegmann has served in various positions at IDnow, most recently in the position of director partner management. His role involves strengthening Signicat’s position in Germany.
Funding and investments
Regtech docStribute has completed a pre-Series A funding round, securing £820,000 in investment from financial service angels. docStribute will use the funding to add to its development and marketing capability to enhance customer integration and accelerate the scale-up of the business.
Pagaya Technologies has closed a credit facility with participation from Funds and Accounts managed by BlackRock US Private Capital (“BlackRock”), UBS O’Connor, JPMorgan Chase, Valley Bank, and Israel Discount Bank. The facility, which consists of a $255million term loan and a $25million revolver, provides the capital and liquidity needed to support the company’s future growth.