Category: FinTech & Digital Payments

EdfaPay, a payment technology company based in Saudi Arabia, and GoPravo, a Sudanese information technology firm, have officially launched a joint venture named SDPay. The collaboration aims to deploy and manage financial services and payment infrastructure within the Sudanese market.

By combining EdfaPay’s technical expertise in payment systems with GoPravo’s local market knowledge, the partnership seeks to establish a framework for digital financial operations. The venture, operating as SDPay, is intended to provide the necessary technological foundation for modern payment services in the region.

Source: Finextra
Original article: https://www.finextra.com/pressarticle/111381/edfapay-and-gopravo-launch-sdpay-in-sudan?utm_medium=rssfinextra&utm_source=finextrafeed

Elevate Edge has officially launched as a new advisory firm focused on the financial services sector. The company provides strategic technology and services consultancy tailored for specific segments of the industry, including online brokerages, banks, and proprietary trading firms.

The firm aims to support these organizations as they navigate the evolving technological demands of the modern financial landscape. By offering specialized advisory services, Elevate Edge seeks to assist institutional clients in refining their technology strategies and service delivery models.

Source: Finextra
Original article: https://www.finextra.com/pressarticle/111382/elevate-edge-launches-as-fintech-advisory-firm?utm_medium=rssfinextra&utm_source=finextrafeed

LemFi, a financial platform tailored for individuals living and working across borders, has announced the most significant product expansion in its history. The update includes the introduction of new credit and eSIM product offerings, designed to broaden the scope of services available to its user base.

Alongside these new features, the company has unveiled a new global brand platform titled “Ambition has no passport.” This branding initiative coincides with the release of a completely rebuilt version of the LemFi application, which serves as the hub for the expanded service suite.

By integrating credit facilities and eSIM connectivity, LemFi is diversifying its platform beyond its core financial services. These additions represent the company’s effort to provide a more comprehensive set of tools for its international community as they navigate financial and connectivity needs across borders.

Source: Finextra
Original article: https://www.finextra.com/pressarticle/111332/lemfi-adds-credit-and-esim-products?utm_medium=rssfinextra&utm_source=finextrafeed

Hyperlayer, a London-based fintech company, has raised £19.5 million in a new funding round. The investment values the company at £195 million.

Founded by former Morgan Stanley executives, the firm focuses on providing a programmable banking platform. The company’s technology is designed to enable financial institutions to modernize their operations and digital capabilities without the need to undertake the complex and costly replacement of their existing core banking systems.

By offering this layer of programmability, Hyperlayer aims to assist banks in improving their technical agility while maintaining the stability of their foundational infrastructure.

Source: Finextra
Original article: https://www.finextra.com/newsarticle/48620/programmable-banking-platform-hyperlayer–raises-195m?utm_medium=rssfinextra&utm_source=finextrafeed

UK-based digital bank Starling has announced the deployment of an agentic “financial crime investigator.” The bank reports that this new tool is capable of performing end-to-end investigative processes within 17 seconds.

The integration of agentic AI into financial crime compliance reflects an effort to streamline the identification and management of suspicious activity. By automating the investigation lifecycle, the bank aims to increase the speed at which financial crime assessments are conducted.

Source: Finextra
Original article: https://www.finextra.com/newsarticle/48623/starling-build-agentic-fincrime-investigator-that-takes-17-seconds?utm_medium=rssfinextra&utm_source=finextrafeed

As financial institutions increasingly rely on cloud computing, the impact of service interruptions has become a critical concern for operational stability. A recent discussion highlights the potential for implementing artificial intelligence frameworks as a means to move beyond reactive recovery measures toward a model of ‘intelligent resilience.’

By integrating AI into banking infrastructure, firms aim to better anticipate, absorb, and recover from cloud outages. Such frameworks focus on shifting the paradigm of digital operations by embedding automated monitoring and predictive analytics into the core of banking services, rather than treating resilience solely as an after-the-fact recovery process.

While cloud technology offers scalability, it also introduces systemic dependencies that can lead to significant downtime. The proposed AI-driven approach suggests that automated, intelligent systems may provide the agility required to maintain continuity during infrastructure volatility. This development reflects an ongoing industry effort to enhance digital robustness within the evolving financial sector.

Source: Finextra
Original article: https://www.finextra.com/blogposting/33226/from-cloud-outages-to-intelligent-resilience-an-ai-framework-for-banking?utm_medium=rssfinextra&utm_source=finextrafeed

Global payments provider Checkout.com has announced an expansion of its business model to include in-person payment services. This move marks a strategic shift for the company, which has historically focused on digital and online payment processing.

According to the company, the expansion is a direct response to feedback from enterprise merchants. These clients expressed a need for the performance, reliability, and resilience of Checkout.com’s existing online acquiring platform to be extended to their physical retail environments.

By entering the in-person payments sector, Checkout.com aims to provide a more unified payment infrastructure for large retailers operating across both digital and physical channels. The announcement underscores the company’s effort to meet the evolving demands of enterprise customers who are increasingly seeking consistent technology stacks across all customer touchpoints.

Source: Finextra
Original article: https://www.finextra.com/pressarticle/111375/checkoutcom-expands-into-in-person-payments?utm_medium=rssfinextra&utm_source=finextrafeed

Evervault officially launched its new “Browser Tokens” technology at the Money20/20 conference, addressing security challenges inherent in the rise of agentic commerce. The solution is designed to support developers building AI-driven products that perform autonomous online tasks, such as making purchases or logging into user accounts.

As AI agents become increasingly capable of executing complex browser-based workflows, the risk of exposing sensitive information like payment card details, passwords, and personal identifiers to the agents themselves or browser providers has become a significant concern. Evervault’s Browser Tokens aim to mitigate these risks by allowing agents to complete these sensitive tasks without ever gaining access to the raw underlying data.

By abstracting this sensitive information, the technology provides a mechanism for AI and browser automation tools to interact with web services securely. This development targets developers who require robust security controls while building products intended to autonomously navigate and transact within the digital economy.

Source: Finextra
Original article: https://www.finextra.com/pressarticle/111376/evervault-launches-browser-tokens-enabling-secure-agentic-payments?utm_medium=rssfinextra&utm_source=finextrafeed

The Nationwide Multistate Licensing System (NMLS) annual renewal window is scheduled to open on November 1. This period is a critical regulatory milestone for money transmitters and other financial services firms that maintain active licenses through the platform.

The renewal process allows companies to update their licensure status across participating jurisdictions. Financial institutions and money transmitters are required to complete necessary filings and satisfy state-specific requirements within the designated window to ensure continued legal operation.

Given the regulatory importance of this period, firms are typically advised to review their internal licensing records and prepare documentation well in advance of the deadline. Failure to comply with state renewal mandates can result in administrative actions or the suspension of licensing privileges.

Source: Finextra
Original article: https://www.finextra.com/blogposting/33228/the-nmls-renewal-window-opens-on-1-november-five-things-licensed-money-transmitters-get-wrong?utm_medium=rssfinextra&utm_source=finextrafeed

<p>First Horizon Bank (NYSE: FHN) has announced a new partnership with Greenlight Financial Technology, Inc. aimed at providing clients and their families with access to digital financial tools.</p><p>Through this collaboration, First Horizon clients will be able to utilize Greenlight’s family-focused financial application. The platform provides a suite of tools designed to assist families in managing finances and accessing various safety features integrated within the app.</p>

Source: Finextra
Original article: https://www.finextra.com/pressarticle/111372/first-horizon-bank-partners-greenlight-to-bring-financial-tools-to-kids?utm_medium=rssfinextra&utm_source=finextrafeed