Invoice finance platform BlueVine secured $130mn in debt financing; the financing comes from Silicon Valley Bank, SunTrust Bank, Bank Leumi and TriplePoint Venture Growth BDC Corp.; BlueVine founder and CEO Eyal Lifshitz tells Bankless Times, “Business owners have diverse needs, and by augmenting our product offering, we are able to offer the solution that fits best.” Source.
BM Technologies, a BaaS fintech that went public through a SPAC announced they plan to buy First Sound Bank, a community bank from Seattle.
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Banco BNI Europa and Varengold Bank AG have committed £90 million and £45 million respectively to MarketInvoice; MarketInvoice offers business loans and invoice finance through their platform and already has a variety of investors participating on the platform; Banco BNI Europa previously invested £28 million in 2016 and another £45 million in 2017; Varengold previously committed £45 million in September of 2017; MarketInvoice recently crossed the £2 billion mark. Source
Portugal based BNI Europa has formed a partnership with German software firm NDGIT to expand their open banking offering across...
French bank BNP Paribas, along with Daon, has developed a new biometric login for their wealth management clients using their mobile device; the new service is called myBioPass and it allows users to login using a selfie; transactions are then authorized by fingerprint or voice recognition; the service is currently active for Luxembourg clients using iOS mobile devices; myBioPass will be added to desktops and Android devices later this year. Source
BNP Paribas Asset Management was able to complete a fund distribution test using blockchain technology; the test used BNP Paribas Securities Services’ blockchain programme, Fund Link and FundsDLT; as AltFi reports the test was able to show Fund Link connecting to other blockchains and the transaction completed each part of the fund trade process, from order delivery to trade processing; this continues a trend from BNP Paribas Asset Management as they have also launched a specialist fund for fintech investment and began updating their legacy technology. Source.
The french bank is launching a new fund that will invest in fintech startups; the fund will be managed by BNP Paribas’ Capital Partners and will also allocate to venture capital funds in areas such as ai, blockchain, cyber security and blockchain; Jacques d’Estais, BNP Paribas group deputy COO and head of international financial services stated, “At BNP Paribas, we’re firmly convinced that Open Innovation is a powerful driver for the transformation that will help to build the bank of tomorrow and enable us to continue to provide our clients with high value-added products and services.” Source
Tink just closed a €90 million funding round; now Tink is working with BNP Paribas on account aggregation, payment initiation...
BNP Paribas, France's largest bank, is doubling down on their investment in technology; the bank plans to invest 3 billion euros ($3.2 billion) over the next three years; the bank stated they want to "build the bank of the future by continuing to grow the businesses and implementing an ambitious program of digital transformation, new customer experience and cost savings"; the investment will be directed towards tech labs, company incubators and internal app development. Source