The digital trade finance platform Modifi, which focuses on supporting small and medium-sized enterprises (SMEs), has successfully raised $15 million in new funding to propel its growth strategy. This latest funding round was spearheaded by Japan's Sumitomo Mitsui Banking Corporation (SMBC)
Banking-as-a-Service (BaaS) has transformed the financial industry by allowing non-banks to offer banking features through partnerships with FinTech companies and traditional banks. This model's convenience is a significant advantage, but recent actions by U.S. regulators like the Office of
North Bay Credit Union (NBCU) is making significant strides in its Banking as a Service (BaaS) program by forming a strategic partnership with Braid, a leading payments and treasury management platform. This collaboration is set to enhance NBCU's ability to support fintech companies in
The unveiling of Fibabanka’s Banking as a Service (BaaS) platform in Türkiye, in partnership with GetirFinans, has caught widespread attention. This collaboration signifies a major leap in Türkiye’s digital banking landscape. But is Türkiye’s financial sector prepared for this revolutionary shift? F
The collapse of Synapse, a financial technology firm, has sent shockwaves through the fintech world, exposing significant weaknesses in regulatory oversight. In response, the Federal Deposit Insurance Corporation (FDIC) has proposed new rules aimed at better regulating the partnerships between
As the financial services industry evolves towards greater openness, transparency across core banking systems and Banking-as-a-Service (BaaS) platforms becomes increasingly crucial. This trend reflects a broader movement toward openness, whether it be in the realms of open-source software, open
