Delve into The Fintech Times Bi-Weekly News Roundup on Thursday 16 November 2023 for the latest partnerships, appointments and funding updates.
iDenfy, a Lithuania-based regtech company providing identity verification and fraud prevention tools, has teamed up with Opal Auctions, a global stone and jewellery marketplace platform for verified users. iDenfy’s KYC solution will help verify and onboard sellers and buyers through a simple, four-step identity verification process.
Trading Strategy has partnered with Enzyme to provide DeFi users with access to professional and sophisticated financial tools. The two teams will collaborate from both a technical and operational perspective, making DeFi more accessible. Enzyme users can now access algorithmic trading strategies created by Trading Strategy’s quant and strategy creator community through the Enzyme app.
British betting operator The Tote has chosen next-generation reconciliation software specialists Aurum Solutions to automate its reconciliations. The Tote can ascertain matches and exceptions on a transaction-by-transaction basis, helping the team easily spot and recover lost revenue.
Bambu, a global digital wealth technology provider headquartered in Singapore, has launched Bambu GO, a SaaS-based robo-advisor in partnership with WealthKernel, a UK provider of digital investment infrastructure. It provides financial institutions such as financial advisors, banks, brokerages, insurers, asset managers as well as neobanks with a ready-to-launch robo-advisor that caters to retail investors.
Linedata, a provider of asset management and credit technology and data services, has turned to Mondrian Investment Partners, a London based global investment manager, to upgrade its existing Linedata software suite. The strategic partnership with Mondrian is designed to take advantage of AMP’s modern architecture, allowing a progressive move of its business applications away from on-premises to software-as-a-service.
Ryan, a global tax services and software provider, has launched Ryan TaxPay – a single, secure platform to facilitate the automation of all global tax payments – in collaboration with tax technology provider Desucla. As part of the offering, clients have access to the Ryan service team to provide proactive support and assistance.
lastminute.com, the European travel company, has appointed Checkout.com as its global payment service provider. Through Checkout.com’s cloud-based payments platform, lastminute.com unlocks ‘market-leading performance’ to boost acceptance rates and create a seamless customer journey.
TrueLayer, the open banking payments network, has appointed Sebastian Vetter as country manager to lead the company’s push in Germany as the market matures for open banking payments. Before joining, Sebastian was at Payoneer where he led the go-to-market activities for SMEs in Germany, Austria and Switzerland, with a focus on import/export businesses in manufacturing and ecommerce, marketplace sellers and professional service providers.
Funding and investments
Lynx, a provider of AI software that detects and prevents fraud and financial crimes, has bagged a €17million Series A funding round led by Forgepoint Capital. Banco Santander also took part. Forgepoint managing director Leo Casusol joins the Lynx board of directors. The investment will fund Lynx’s global expansion as well as further the development of the company’s integrated fraud and AML platform.
Rho Labs, the UK-based builder of Rho Protocol, an on-chain, non-custodial interest rate futures and swaps market, has raised $2.2milion in pre-seed funding. The round was led by Speedinvest, with participation also from Keyrock, Re7 Capital, Daedalus Collective and Dmitry Tokarev. The company plans to use the funds to expand operation as well as its business reach.