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Zolve Raises $251 Million in Funding, Achieving $800 Million Valuation: A Game-Changer in Fintech
Texas-based neobank Zolve has raised $251 million in its largest funding round to date, increasing its valuation to approximately $800 million. Led by Creaegis, an Indian private equity firm, the round also included participation from HSBC, SBI Investment, and others. Zolve aims to provide financial services to newcomers in the U.S. who face credit challenges, allowing them access to banking from day one. Since its launch in 2021, Zolve has served over 750,000 customers and plans to expand into Canada, the UK, and Australia while diversifying its offerings to include auto, personal, and education loans.
UK to Fast-Track Securities Trade Settlements by 2027: A Leap Towards Financial Efficiency
The UK financial market will transition to a T+1 settlement cycle for securities trades by 11 October 2027, aiming to modernize infrastructure and improve trading efficiency. The T+1 cycle settles transactions one day after the trade date, compared to the traditional T+2 cycle. Chaired by Charlie Geffen, the Accelerated Settlement Taskforce’s report highlights benefits such as reduced market risk and increased liquidity, alongside a comprehensive implementation plan. The UK government supports these changes, recognizing their potential advantages. Geffen emphasized the milestone’s significance for enhancing competitiveness and reducing risks for investors, positioning the UK as a leader in global financial efficiency.
Tompkins Community Bank Upgrades ATMs with Cutting-Edge NCR Atleos Technology
Tompkins Community Bank, with US$7.8 billion in assets and a nearly 190-year legacy, is modernizing its ATM network by partnering with NCR Atleos for an ‘ATM as a Service’ (ATMaaS) solution. This collaboration transfers ATM management to NCR Atleos, covering hardware and software maintenance, security, cash handling, installation, and logical security. The initiative aims to enhance ATM reliability and customer experience. SVP Martin O. Cross highlighted the partnership’s alignment with the bank’s mission to combine local leadership with broad financial capabilities, while Atleos GM Steven Nogalo noted its role in maintaining competitive advantage through self-service options.
Salv Pioneers FinTech Innovation, Clinching Prestigious Chartis Research Award
Salv has made significant strides in the fight against financial crime, recently winning the Intelligence Sharing Award from Chartis Research as part of the 2025 FCC 50 rankings. This recognition underscores Salv’s innovative contributions, particularly through its platform, Salv Bridge, which facilitates real-time intelligence sharing among over 70 financial institutions in Europe. Salv Bridge enhances fraud detection and prevention by enabling collaboration, proactive tracking of stolen funds, and focusing on critical cases, boasting a 90% true positive alert rate. CEO Taavi Tamkivi highlights a growing industry commitment to collaboration, signaling a shift towards more effective financial crime prevention strategies.
TrueLayer and BR-DGE Team Up to Transform Enterprise Payments with Innovative Pay by Bank Solutions
TrueLayer, a leader in open banking payments in Europe, has partnered with BR-DGE, a payment orchestration platform, to launch Pay by Bank capabilities for global enterprise businesses. This collaboration aims to meet the rising demand for open banking solutions and enhance payment options across various industries, including transport, travel, and online retail. TrueLayer’s technology combines real-time bank payments with financial data, ensuring secure and efficient transactions. Both companies emphasize the importance of this partnership in driving innovation and interoperability in the payments ecosystem, positioning them for future growth in the evolving landscape of open banking.
Klarna and Stripe Unite to Fuel Global Merchant Growth with Innovative BNPL Solutions
Klarna has strengthened its partnership with Stripe to enhance payment solutions for businesses across 25 countries. The collaboration aims to boost merchant revenue by offering flexible payment options, including Buy Now, Pay Later (BNPL) services and interest-free financing. Klarna reported a doubling in new merchants adopting its services in Q4 2024. The partnership also prioritizes consumer-friendly credit options with lower late payment rates, fostering user loyalty. Stripe has introduced a testing function to measure the revenue impact of Klarna’s services, showcasing improvements in conversion rates and average order values. Industry leaders express optimism about the partnership’s growth potential.