The use of synthetic data has increased significantly in recent years as financial institutions recognize its merits for product innovation in a sector where data security and consumer protection are paramount. But there are still many underutilized applications of synthetic data in the financial industry. The FCA’s latest consultation can help firms unlock this potential.

Unfulfilled potential

Stenn, the leading digital financing platform for global SMEs, is pleased to announce the appointment of Bilal Bajwa to the new position of Chief Product Officer as the business continues to scale and enhance its unique proposition. 

PPRO, the leading provider of digital payments infrastructure, has integrated Gojek’s GoPay e-wallet onto its platform, taking PPRO a step closer to offering complete Indonesian market coverage.

Citi announced today that it has selected METACO to develop and pilot digital asset custody capabilities.

Kernolab, the Vilnius-based fintech startup that focuses on helping businesses drive value through embedded finance solutions, is partnering with Ondato for all KYC compliance capabilities.

Leading payment orchestration platform IXOPAY has partnered with Concardis / Nets Group, a payment service provider that provides a complete service for cashless and digital payments. Together they give businesses access to state-of-the-art infrastructure and payment processing.

Hyve Managed Hosting, a leading UK cloud hosting provider, has today released findings which reveal that UK shoppers will overlook existing brand loyalties - jumping ship to a competitor - if their preferred retailer's website experiences even a minute of downtime.

Global fraud fighters, SEON is delighted to announce a new partnership with Provenir, a global leader in AI-powered risk decisioning software for the fintech industry. The exciting partnership will help organizations to build powerful new fraud prevention solutions.

Banyan, an investment facilitator for sustainable infrastructure headquartered in San Francisco, has confirmed a USD $8.2m Series A round led by VoLo Earth Ventures with several notable venture capital firms joining the round.

The sizable funding round, which values the company at USD $47m, will enable Banyan to further scale its go-to-market engine, as well as enhance the support it’s able to offer to exist customers.

Slow to innovate their products and customer experiences, the simple truth is insurance has long been vulnerable to disruption. New market entrants from insurtechs, tech giants like Amazon, and “greenfield” launches from more traditional insurers are elbowing their way into insurance markets and syphoning market share from more established insurers.