In today’s FinTech news, digital business bank Grasshopper has lined up a new executive team as it launches innovative products and shifts its focus to startups and SMBs, and London FinTech startup Weavr talks to PYMNTS about its alternative to complicated backend technology. Meanwhile, at a Barcelona FinTech session, the chairman of CaixaBank spoke about financial regulations, ethics and data.
Digital Bank Grasshopper Revamps With Tech Upgrades, New Leadership
Digital business bank Grasshopper is relaunching with a new executive team, upgraded technology, enhanced products, FinTech partnerships and a focus on startups and small- to medium-sized businesses (SMBs). Michael Butler, an industry veteran who was most recently CEO of Radius Bank for 13 years, was named CEO, president and director.
Weavr CEO: Banking as a Service Solutions Create Complexity, Cost for Online Businesses
Alex Mifsud, co-founder and CEO of London FinTech startup Weavr, told PYMNTS that embedded finance allows for seamless integration of financial services into third-party apps without the need for complicated back end technology.
Weavr’s typical clients are digital innovators that are integrating financial services into a variety of apps and can’t keep up with handling data security, know your customer (KYC) and the various details that go into delivering services in a secure way.
CaixaBank Chair Advocates Consumer-Centric Tech, Consistent FI Regs
With customers’ habits changing and FinTechs driving competition in the financial services sector, consistent regulation for all is necessary, José Ignacio Goirigolzarri, chairman of CaixaBank, said during a FinTech and metaverse session address at the Mobile World Congress in Barcelona.
He discussed the role of ethics in digital transformation and the responsibility of organizations collecting and generating data.
FinTech Airwallex, Plum Partner to Offer Stock Investing
Global cross-border FinTech platform Airwallex is teaming with investing app startup Plum to offer cross-border payments and foreign exchange (FX) solutions in support of Plum’s new stock investing feature. The stock investing tool will enable users to trade over 500 U.S. stocks, including major Fortune 500 businesses.
Payroll Solution Firm Atomic Adds $40M in Series B Funding Round
Payroll solutions platform Atomic raised $40 million to build out its payroll connectivity ecosystem that targets “consumers with limited access to financial services.”
Some of the new funds will be used to expand and develop solutions such as allowing workers to receive earned wages before the pay cycle and repay financial obligations from their paychecks.
Lynx Lays FinTech Tracks to Help Providers Integrate Healthcare, Finance Flows
Matt Renfro, CEO and co-founder of Lynx, a new healthcare payments, banking and eCommerce platform, told PYMNTS that he wants patients to have access to a fast, seamless process, just as they would expect from any online FinTech.
Lynx is striving to draw attention to the connection between a person’s physical health and finances.
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NEW PYMNTS DATA: ACCOUNT OPENING AND LOAN SERVICING IN THE DIGITAL ENVIRONMENT
About: Forty-two percent of U.S. consumers are more likely to open accounts with FIs that make it easy to auto-share their banking details during sign-up. The PYMNTS study Account Opening And Loan Servicing In The Digital Environment, surveyed 2,300 consumers to examine how FIs can leverage open banking to engage customers and create a better account opening experience.
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