UK based fintech Wiserfunding announced its entry into India, launching its Artificial Intelligence (AI) backed cloud-based credit risk assessment tool targeted for small and medium enterprises (SMEs). Wiserfunding arrives at a time when SMEs across India are struggling due to the COVID-19 impact and the available models in the lending sector are not specific to SMEs, are largely non-technology based and have low prediction accuracy.

Huobi Group, the world leading Blockchain Company has announced the establishment of Huobi DeFi Labs.

Huobi DeFi Labs is the platform for DeFi (Decentralized Finance) research, investment, and incubation and eco system building in DeFi space. It aims to build a better financial system in collaborations with the global crypto and DeFi community for the future.

The European Digital Payments Industry Alliance (EDPIA) is happy to announce that SIA, a leading European hi-tech company in payment services and infrastructures headquartered in Milan and controlled by CDP Equity, has joined the Alliance, joining founding members Ingenico Group, Nets, Nexi and Wordline in advocating the growth of digital payments in Europe. 

Acronis announced a new fully operational Cyber Protection Operation Center (CPOC), which puts the EMEA-region on the global cyber protection map and will help partners, customers and individuals to get #CyberFit with cyber protection services, ongoing monitoring and analysis of cyber threats.

Volante Technologies Inc., a leading provider of payments and financial messaging solutions in the cloud, today announced that it has raised $35m USD in growth equity financing led by Wavecrest Growth Partners with strategic participation from BNY Mellon, Citi Ventures, PostePay and Visa Inc.

Utility Warehouse (UW), has selected cloud-based payment processing platform, Paymentology, to process its cashback card transactions. UW customers can benefit from cashback from thousands of market-leading online and high street retailers, including Sainsbury’s, Boots, and M&S. This cashback is automatically offset against their monthly utility bill.

Sokin, the new generation payments firm, has announced a partnership with Jumio to introduce the latest digital identity verification technology as part of its client onboarding process. Sokin offers an easy to use fixed price subscription service for global payments which cuts out repeat and hidden costs, with transactions handled at some of the best market rates. 

Mendix, a Siemens business and the global leader in enterprise low-code, today announced that Mphasis Digital Risk, a financial services technology provider for the competitive U.S. mortgage loan fulfilment market, has successfully launched an expanded portfolio of software development projects for both internal and external Mphasis clients.

iwoca will be reaching out to the CEOs of the UK’s largest banks urging them to work with the FinTech lender to ensure small businesses are accessing finance as quickly as possible through the Coronavirus Business Interruption Loan Scheme (CBILS).

The call for greater collaboration comes as iwoca announces a new fundraising round of £100 million which will be used to scale its CBILS offering and fund new customers through the scheme for the first time.

The financial services industry looks set to change dramatically over the next couple of years in response to COVID-19. The pandemic has certainly highlighted some inefficiencies and weak spots in current processes for many businesses, such as those dealing with a high level of consumer credit checks, for example.