Search Results for "Upgrade"
10 results for "Upgrade"
Deals 10
Cross River Launches Fedline Direct and Postman API for Faster Fintech Integration
Cross River, a leading BaaS provider, launched Fedline Direct upgrades and a Postman API collection to streamline fintech integrations. The updates aim to reduce onboarding time for fintech partners building on Cross River's banking infrastructure. This reinforces Cross River's position as a core bank-fintech connectivity layer.
Alinma Bank Partners with IBM to Launch API Platform for Fintechs and SMEs
Saudi Arabia's Alinma Bank partnered with IBM to upgrade its IT infrastructure and launch a new API platform targeting fintech and SME clients. The deployment uses IBM's hybrid cloud and AI technologies, including IBM API Connect with generative AI capabilities for API lifecycle management.
Accenture Acquires Percipient to Bring Digital Twin Technology to Banks
Accenture acquired Percipient, a Singapore-based fintech developing digital twin technology for banks. The acquisition enhances Accenture's core banking modernization capabilities, which underpin BaaS infrastructure upgrades for financial institutions globally.
FDIC Issues Consent Orders to Piermont Bank and Sutton Bank Over BaaS Failures
The FDIC issued consent orders against Piermont Bank and Sutton Bank for compliance failures related to their BaaS partnerships, particularly around Bank Secrecy Act obligations. Sutton Bank, which partners with fintechs including Robinhood, Square, and Upgrade, was required to collect customer data retroactively back to July 2020. The actions signal intensifying regulatory pressure on sponsor banks operating in the BaaS space.
US Community Banks Rapidly Expanding Fintech BaaS Partnerships in 2023
Traditional community banks, including First Bank, are increasingly partnering with fintechs through white-label BaaS programs, with some banks maintaining up to a dozen fintech relationships. A Cornerstone Advisors report found 66% of US banks had partnered with at least one fintech. Revenue sharing and technology upgrades are driving adoption despite heightened regulatory scrutiny.
Upgrade Reaches 100th Credit Union Partnership for Loan and Card Programs
Fintech Upgrade announced its 100th credit union partnership, enabling credit unions to purchase loans and card receivables originated through Upgrade's platform. Credit unions can enroll new members through the platform under their own brand. The milestone highlights growing adoption of fintech-credit union embedded finance models.
Blue Ridge Bank Reports $329M in Fintech Partnership Deposits in Q1 2022
Blue Ridge Bankshares reported Q1 2022 results showing $329 million in deposits sourced through fintech partnerships with companies like Unit, Increase, and Upgrade. The results underscore the bank's growing role as a major BaaS sponsor bank. This milestone highlights the rapid scaling of the sponsor bank model in the US embedded finance market.
First Horizon Bank Migrates to NCR D3 Digital Banking Platform on AWS
First Horizon Bank migrated its digital banking to the NCR D3 platform hosted on AWS, modernizing consumer and business digital experiences. The cloud-hosted platform upgrade represents a bank-fintech infrastructure partnership to enhance digital capabilities. This move positions First Horizon for improved digital customer engagement.
United Arab Bank Selects Finastra to Power Digital Transformation
United Arab Bank chose Finastra's Fusion suite—including Corporate Channels, Cash Management, and core banking upgrades—to embed enhanced digital retail and corporate services. The deal unifies trade, finance, cash, and treasury under a single portal for improved customer experience.
CB Insights Fintech 250 Highlights Cross River Bank and Banking Infrastructure Leaders
CB Insights released its 2018 Fintech 250 list, spotlighting 250 promising fintech startups including banking-as-a-service provider Cross River Bank and API-based lender Upgrade. The cohort had raised $53B in aggregate funding since 2013, with 30 unicorns and 33 mega-rounds in 2018 YTD.