What exactly do we do with our money? Aside from daily purchases, we store it. Attempt to save it. Mostly in banks. Then, we shuffle money between companies and people as we transfer, invest, borrow or lend. Finally, we trade it off for other assets.

However, the Covid-19 pandemic has exposed operational and technical flaws in many financial institutions. And banks are tasked with responding to the immediate crisis while adjusting for their long-term strategic plans. Unfortunately, many underlying problems will outlive this moment in time.

Zuora, Inc. (NYSE: ZUO) a leading subscription management platform provider, today announced a strategic partnership with Stripe to accelerate the growth of the Subscription Economy®. A new product integration will enable Zuora customers -- including Carbar, Intercom and Seiko Epson -- to enhance their subscription experience with advanced payment capabilities.

gohenry, a global leader in building healthy financial habits for kids, today announced a $40 million financing round led by US growth-equity firm Edison Partners with investment from Gaia Capital Partners, Citi Ventures, and Muse Capital.

IDnow, a leading provider for Identity Verification-as-a-Service solutions, recieves €15 million growth funding from European Investment Bank. Funds will support IDnow’s research and development and international expansion. Financing by EU bank is provided under Investment Plan for Europe.

Moneyhub, the market-leading Open Banking and Open Finance data, intelligence and payments platform, is the first TPP to connect to Citibank, the consumer division of financial services multinational Citigroup. In the UK, Moneyhub offers consent-driven access to financial data via 580 live and in production connections across 200 financial services providers - of which 100 are direct UK Open Banking providers, and a further 100 more broad Open Finance providers. 

Broadridge Financial Solutions, Inc. (NYSE:BR), a global Fintech leader, has announced that it has been selected by BEC, a Danish full-service technology firm that develops and operates IT systems for financial institutions, to provide its comprehensive solution for the updated Shareholder Rights Directive (SRD II).

Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia (MEASA) region, announced that Ebury, a leading global FinTech backed by Santander Bank offering cross-border financial services and risk management, has been granted a Financial Services licence to carry out the regulated activity of providing Money Services from the Centre.

Digital insurance company Getsafe closed a $30 million (USD) Series B funding. Swiss Re’s digital platform iptiQ led the round. Existing investors, including Earlybird, CommerzVentures, btov Partners and Capnamic Ventures, also participated.

Sberbank (Switzerland) AG has successfully gone live with Avaloq’s Software as a Service (SaaS) solution. The implementation, following a ten-month migration project, supports the financial institution’s strong growth ambitions. Avaloq was awarded the contract after a highly competitive tender process.

SteelEye, the compliance technology and data analytics firm, and txtsmarter, the Enterprise Information Archiving compliance platform, today announced a strategic partnership to combine txtsmarter’s Intelligent Compliance™ complete messaging capture and archiving service with SteelEye’s advanced communications surveillance solution. As a result, clients can access native messaging data within the SteelEye platform to assure full regulatory compliance.