Search Results for "Citi"
21 results for "Citi"
Deals 20
BVNK Secures Strategic Backing from Visa Ventures and Citi Ventures
BVNK, a stablecoin-based payments infrastructure platform, received strategic investment from Visa Ventures and Citi Ventures alongside Haun Ventures, Coinbase Ventures, and Tiger Global. The funding validates stablecoins as enterprise-grade financial infrastructure as BVNK processes $30 billion in annualized stablecoin payment volume. The investment supports BVNK's expansion of embedded wallets, new US payment rails, and AI-driven onboarding across 130+ countries.
Citi Unveils CIDAP Middleware Platform for Digital Assets at Sibos 2025
Citi presented its Integrated Digital Asset Platform (CIDAP) at Sibos 2025 in Frankfurt as middleware for tokenization, custody, and blockchain connectivity. The platform enables reusable infrastructure for seamless client integration across digital asset services. This positions Citi as a banking-as-a-platform provider in the institutional digital assets space.
Quantix Secures $500M Citi Securitization for Embedded Lending Platform
Quantix, a subsidiary of Astra Tech, secured $500M in asset-backed securitization from Citi — the largest UAE fintech deal. The funds will scale its CashNow embedded lending platform for gig workers and SMEs. The deal highlights embedded finance via API integrations into non-financial apps.
Citizens Bank Launches Open Banking API for Third-Party App Access
Citizens Bank launched an Open Banking API enabling secure account balance and transaction access for third-party applications such as budgeting tools. The API supports the broader embedded finance ecosystem by allowing fintechs to integrate Citizens account data. This positions Citizens to comply with evolving open banking regulations.
First Citizens Bank and Sixth Street Launch Equipment Financing Joint Venture
First Citizens Bank and Sixth Street launched Sixty-First Commercial Finance, a joint venture platform providing equipment financing between $5 million and $100 million. The platform targets mid- and large-ticket capital equipment financing needs.
Capitolis Raises $20M from Citi, Morgan Stanley, State Street, and UBS
Capital markets fintech Capitolis raised $20M from a consortium of major banks including Citi, Morgan Stanley, State Street, and UBS. The investment highlights growing bank-fintech partnerships in capital markets infrastructure. Capitolis provides technology to optimize capital allocation for financial institutions.
Five Star Bank Exits BaaS Partnership with Unit Citing Low Returns
Five Star Bank announced it would end its banking-as-a-service partnership with fintech platform Unit. The bank cited that BaaS contributed only 2% to its deposits and 1% to its loans, making it insufficient to justify the growing compliance burden. The exit reflects a broader trend of sponsor banks reassessing BaaS economics amid tightening regulatory requirements.
Federal Reserve Issues Cease-and-Desist Against Evolve Bank Over Fintech Risks
The Federal Reserve issued a cease-and-desist order against Evolve Bank & Trust on June 14, 2024, citing deficiencies in risk management related to its fintech partnerships. The order requires Evolve to obtain prior regulatory approval before onboarding new fintech partners. This is a landmark enforcement action signaling heightened scrutiny of BaaS sponsor banks.
Fortis Reports Massive 2023 Growth in Embedded Payments
Fortis reported transformational growth in embedded payments for 2023, citing partnerships with Sage and Acumatica for ERP-integrated card transactions and data enrichment. The company's strategy focuses on embedding payments directly into business software platforms. These partnerships expand embedded payment capabilities within enterprise resource planning ecosystems.
Citi Ventures Invests in Defacto for European Embedded Lending
Citi Ventures invested in Defacto, a European embedded lending fintech, as the continent's embedded finance market approaches $24.2B. The investment signals major bank interest in embedded B2B lending infrastructure. Defacto provides embedded financing solutions for businesses through platform integrations.
Citi Launches Auto-Enabled Payment Solutions for Financial Institutions
Citi Treasury and Trade Solutions introduced four auto-enabled payment solutions designed for financial institutions. The solutions enable low- or no-implementation embedding of payment capabilities. This aims to accelerate digital transformation and enhance client experiences with faster, frictionless payment integration.
Wisetack Partners with Citizens to Expand Embedded Pay-Over-Time Financing
Wisetack announced a partnership with Citizens to expand its embedded financing platform for in-person services. The integration embeds pay-over-time options for home services, dental care, medical procedures, and car repair through APIs in merchant software. This partnership extends Citizens' reach into embedded lending via a fintech intermediary.
FDIC Issues Consent Order to Cross River Bank Over Fintech Oversight Failures
The FDIC issued a consent order against Cross River Bank, a major fintech sponsor bank, citing inadequate oversight of fintech partners, fair lending compliance failures, and unsafe banking practices. The action heightened regulatory scrutiny on the bank-fintech partnership model. Cross River is one of a small number of banks serving as BaaS sponsors for fintechs.
Citi Retail Services Launches Citi Pay to Expand Embedded Payments
Citi Retail Services launched Citi Pay, a new embedded payment product family starting with Citi Pay Credit, a digital-only credit card for participating retailers. The company also announced plans for Citi Pay Installment Loan. The launch reflects Citi's strategy to embed payment capabilities directly within retail experiences.
Abound Raises $601M in Debt and Equity for Open Banking Lending API
UK-based Abound raised £500M ($601M) in combined debt and equity funding to scale its open banking-powered consumer lending platform. Debt financing came from Citi and Waterfall Asset Management, while equity investors included K3 Ventures, GSR Ventures, and Hambro Perks. The round builds on prior $11M equity and $60M loan facilities.
Federal Reserve Denies Custodia Bank Application for Fed Membership
The Federal Reserve denied Custodia Bank's application for Federal Reserve System membership, citing safety, soundness, and risk management concerns including money laundering risks. Custodia is a Wyoming-chartered fintech focused on crypto custody and payments. The denial signals intensifying regulatory scrutiny of crypto-focused fintech bank applications.
AccessFintech Raises Series C Led by WestCap with BNP Paribas Investment
AccessFintech closed a Series C funding round led by WestCap, with strategic investment from BNP Paribas Securities Services. The capital markets fintech provides collaborative data management and post-trade workflow services. The round will accelerate growth and expansion into new markets, building on backing from major banks including JPMorgan, Goldman Sachs, Citi, Bank of America, and BNY Mellon.
Indian Lending SaaS Startup Lentra Raises $60M Series B
Lentra, an AI-based lending SaaS platform serving banks, raised $60M in a Series B round led by Bessemer Venture Partners with participation from Susquehanna and Citi Ventures. The company provides embedded lending infrastructure that enables banks and financial institutions to digitize their loan origination processes. Citi's venture arm participating signals strategic bank interest in lending-as-a-service technology.
Banked Raises $15M Series A Extension to Expand Pay-by-Bank Network
Banked secured an additional $15M Series A extension from Insight Partners, Citi, National Australia Bank Ventures, and Rapyd to grow its pay-by-bank payment network. The platform enables merchants to accept direct bank payments without card networks. Strategic investment from multiple banks underscores the embedded finance potential of account-to-account payment infrastructure.
Genesis Global Secures $20M from BofA, BNY Mellon, and Citi
Genesis Global, a low-code platform for financial markets, raised $20 million from major banks including Bank of America, BNY Mellon, and Citi. The investment follows a $200 million Series C earlier in 2022 and signals major bank interest in low-code infrastructure for financial services.