Zopa Acquires Rvvup to Propel Embedded Finance Expansion
Zopa Acquires Rvvup to Drive Embedded Finance Business The company said the deal, announced Monday (Sept. 1), will accelerate its retail finance services and triple the size of Zopa’s embedded finance business within two years. “This unique offering drives multiple benefits for merchants and end consumers alike,” Zopa said in a news release. “New and existing […]
Square Financial Services Expands to Offer Cash App Borrowing Solutions
Square Financial Services to Service, Originate Cash App Borrow Block said Thursday (March 13) that its industrial bank, Square Financial Services (SFS), received approval from the Federal Deposit Insurance Corp. (FDIC) to offer the company’s consumer loan product Cash App Borrow. SFS will begin servicing and originating Cash App Borrow loans nationwide in the coming […]
Synctera Secures $15 Million as Embedded Finance Evolves
Synctera Raises $15 Million Amid Embedded Finance’s Evolution Banking-as-a-Service (BaaS) and embedded finance firm Synctera raised $15 million in new funding. The financing brings Synctera’s total funding to $94 million and will help support the acceleration of its growth and meet the more complex needs of its customers, according to a Tuesday (March 11) press […]
House Financial Services Leadership Focuses on Digital Assets
House Financial Services Leadership Targets Digital Assets The House Financial Services Committee has chosen leadership with an eye toward digital asset regulation. Rep. French Hill (R-Ark.) announced the new appointments Thursday (Jan. 9), promising to “right-size the regulatory system for particularly community banks,” and “create a regulatory framework for digital assets that will protect investors and consumers.” In addition, Hill […]
Carvana Reestablishes Partnership with Ally Financial Following Hindenburg Report
Carvana Renews Ties With Ally Financial After Hindenburg Report Carvana has revived a deal to sell $4 billion in used-car loan receivables to Ally Financial. The yearlong arrangement, announced Monday (Jan. 6), comes days after a report by short seller Hindenburg Research claiming that Ally was stepping back from its partnership with the online vehicle […]
Shopline and Onramp Collaborate to Provide Financing Solutions for U.S. Online Merchants
Shopline, Onramp Partner on Financing for US Online Merchants Shopline and Onramp Funds have teamed up to deliver flexible financing options to eCommerce businesses. With this partnership, U.S.-based online merchants using Shopline’s commerce services platform can access capital from Onramp Funds, which is a funding provider focused on eCommerce businesses, the companies said in a Tuesday […]
India’s Central Bank Governor Cautions Against AI ‘Opacity’ in Financial Sector
India Central Bank Head Warns of AI ‘Opacity’ in Finance The head of India’s central bank is warning about AI use in financial services. Reserve Bank of India Governor Shaktikanta Das said Monday (Oct. 14) that the increased usage of artificial intelligence (AI) and machine learning in the financial world can trigger stability risks, requiring proper risk […]