Manchester-based security technology firm, Avesta, has secured a £200,000 Coronavirus Business Interruption Loan Scheme (CBILS) loan from NatWest, to safeguard the future of the business.

The funding from NatWest has enabled owners and brothers, Javid and Hamid Aria, to invest in a steady stream of security supplies to support growth throughout the pandemic.

Risk-Off; NZD, AUD Sink, EUR, GBP, SGD Drop, US 10Y Rate Up

Global data technology company transforming financial crime detection, today announced a new investment by the Growth Equity team in Goldman Sachs Asset Management. The terms of the transaction were not disclosed.

The investment is an extension to the company’s oversubscribed Series C funding announced in July 2020.  Goldman Sachs Asset Management joins a growing list of the company’s world-class investors including the Ontario Teachers’ Pension Plan Board, Index Ventures, and Balderton Capital.  

Regulatory technology or regtech is starting to play a crucial role in ensuring digital transformation projects are not only successful, but fully compliant too.

Andrea Tucker, Head of Research & Development and Strategic Projects at e4, notes that while regtech, defined as the management of regulatory processes within the financial industry through technology, is relatively new it looks set to make a significant impact on how financial institutions tackle digital transformation.

New data from Barclaycard Payments, which processes almost £1 in every £3 spent in the UK, reveals how Monday’s lockdown relaxation has impacted the UK hospitality sector.

As part of its Shop Owners Benefit Program, PayNearby, India’s leading branchless banking and digital payments network, has tied up with Centrum Microcredit Limited, the micro finance arm of the Centrum Group, to facilitate unsecured business loans to its retail partners. As part of the tie-up, loan requirements will be sourced through PayNearby’s vast network of retailers and will be disbursed by Centrum Microcredit Limited.

Banking technology platform provider BankiFi, in association with The Co-operative Bank, has launched a new Request to Pay (RTP) service: Incomeing. The service helps SMEs boost their cash flow by facilitating instant, cost-effective and secure collection of payments from their customers. The Co-operative Bank is the first UK provider to offer an open Request to Pay mobile application for not only its customers but also those that bank elsewhere.

Uncapped, a London-based startup changing the way online companies fund their growth and inventory costs, has today raised $80 million of debt and equity in a new funding round that will enable the company to move beyond lending by launching a suite of new banking services tailored to the needs of digital entrepreneurs. 

Frankfurt-based Blocksize Capital, a leading blockchain technology provider for financial institutions, has become the latest fintech to join Avaloq’s open banking marketplace.

IDnow, a German-based leader in platform-as-a-service identity verification, today announced the implementation of NFC reading capability into IDnow AutoIdent. This will offer users an even smoother and quicker verification process.