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Cynomi Secures $37M to Enhance vCISO Services for MSPs and MSSPs
Cynomi, a cybersecurity innovator, has secured $37 million in Series B funding, led by Insight Partners and Entrée Capital, with participation from existing investors like Canaan and Flint Capital. This funding will help enhance Cynomi’s AI-powered virtual chief information security officer (vCISO) platform, aimed at assisting managed service providers (MSPs) and consultancies in scaling cybersecurity services with reduced manual effort. The platform has notably decreased manual workloads by up to 70% and achieved significant revenue growth. Future plans include enhancing AI capabilities, expanding tools, and entering U.S. and European markets to meet rising cybersecurity demands.
KYC Portal CLM Teams Up with PwC to Elevate Compliance and Risk Management Solutions
KYC Portal CLM has partnered with PwC UK and PwC Channel Islands to enhance client lifecycle management (CLM) solutions globally. This collaboration combines PwC’s expertise in financial crime prevention and regulatory compliance with KYC Portal’s innovative technology. The partnership aims to improve compliance challenges and operational efficiencies by utilizing PwC’s frameworks and KYC Portal’s no-code platform for automation. KYC Portal was chosen for its proven ability to streamline compliance and reduce costs. Leaders from both firms expressed enthusiasm about the partnership, emphasizing its potential to revolutionize compliance management in a rapidly evolving regulatory landscape.
Transform Your Wealth Analysis: WealthArc Integrates BlackRock Portfolio 360 for Enhanced Financial Insights
WealthArc, a Swiss wealth data company, has partnered with BlackRock to integrate the BlackRock Portfolio 360 tool into its platform, enhancing portfolio analytics for wealth managers and family offices. This collaboration offers users instant access to advanced risk and performance analysis powered by BlackRock’s Aladdin® system. The integration allows seamless portfolio transfers, providing deeper investment insights and streamlined evaluations. WealthArc is the first in Switzerland to offer this direct integration, showcasing its commitment to innovation and client service. The company has expanded globally, serving major wealth centers with a SaaS platform for comprehensive asset management.
Allra FinTech Secures $9.1M in Series B Funding to Revolutionize Early Payment Solutions
Allra FinTech, a key player in Korea’s FinTech sector, raised $9.1 million in its Series B funding round to enhance its early payment service, Allra. The funding was led by KB Kookmin Card, which invested $6.8 million, while Altara Ventures and Do Ventures contributed $2.3 million. Allra’s service addresses settlement delays for online marketplace sellers and has processed over $3 billion since launch. The funding will support team expansion, entry into retail markets, new postpaid services, and global expansion by 2025. CEO Kim Sang-soo emphasized the company’s commitment to providing reliable financial solutions for business owners.
Lloyd’s Insurance Unveils Innovative Funds to Enhance Cash Management Solutions
Lloyd’s has expanded its Enhanced Liquidity Fund offerings by launching two new liquidity funds denominated in EUR and GBP, aimed at improving cash management for long-term investors. These funds provide higher return opportunities while ensuring high liquidity and low Solvency II capital charges, complementing the existing USD fund. Managed by Insight Investment, the new funds enhance operational efficiency and diversify investment opportunities, increasing potential capital returns. Lloyd’s Chief Investment Officer, Eleanor Bucks, emphasized the importance of these funds in providing bespoke investment options, while Insight Investment’s Global Chief Investment Officer, Adrian Grey, highlighted their expertise in creating tailored solutions.
Mastercard and Nomba Join Forces to Revolutionize Digital Payments in Nigeria
Mastercard has partnered with Nigerian FinTech innovator Nomba to enhance digital payment solutions in Nigeria and Africa. This collaboration will integrate the Mastercard Gateway into Nomba’s Checkout platform, improving payment efficiency and security for businesses and consumers. Key features include streamlined processes, advanced fraud protection, faster transaction speeds, and support for various payment methods. The partnership aims to boost financial inclusion in underserved markets, aligning with Mastercard’s goal of bringing one billion people into the digital economy by 2025. Both companies are committed to innovating and creating a more connected financial future across Africa.