In today’s top news in digital-first banking, FintechOS has notched$60 million in a Series B funding round, while Citi has collaborated with Mastercard to expand its payment exchange options for institutional clients. Plus, AccessPay is at work on a new treasury solution that is fueled by Yapily.
FintechOS, an international technology provider for insurers, banks and other financial services firms, has landed $60 million in a Series B funding round. “Events over the last year have only increased pressure on our industry to evolve, and as a result, we’re seeing growing demand for our powerful platforms,” FintechOS Co-Founder and CEO Teodor Blidarus said in an announcement. “Our latest round of funding will help us grow at the pace needed to improve outcomes for financial institutions and their customers globally.”
Citi has teamed with Mastercard to grow its payment exchange options for its institutional customers. Government and business customers of Citi Payment Exchange can now integrate Mastercard Send to move money to consumer debit or prepaid card accounts. The deal makes Citi the biggest global treasury bank using Mastercard Send. Citi Payment Exchange is an initative that lets Citi’s business clients send business-to-consumer payments via their clients’ selected payment methods.
AccessPay is at work on a new treasury offering for businesses powered by Yapily that will help thousands of companies in the United Kingdom receive greater transparency into their cash positions and transaction flows. AccessPay users can access connections and aggregations for their business banking with a click of the button. “With Yapily’s support and guidance, we’re able to expand our cash management solution to more of the market at this pace and scale,” AccessPay Senior Product Manager Winston Pearson said in an announcement.
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