The Weekly Wrap: all you need to know by Friday COB | April 12th

By Puja Sharma

The Weekly Wrap is published every Friday and recaps the week’s main stories and deals, as well as upcoming events and announcements. For Prime subscribers only.

The Big Story

Sopra Banking Software (SBS), the global FinTech company, has announced the launch of its cloud-based Instant Payments solution. The new technology enables banks and financial institutions to power secure instant payments for consumers anytime, anywhere.

The Sopra Banking Platform (SBP) Instant Payments solution expands the company’s existing digital payments services, which currently power more than 11 billion transactions for 250+ finance clients including Société Générale, Transactis and Banque Nagelmackers across 50 countries.

SBP Instant Payments’ API-based software enables banks and financial institutions to integrate instant payment functionality into their existing systems quickly. The solution’s cloud-native architecture provides around-the-clock availability to power instant payments in real-time, at up to 1,500 transactions per second.

Deals of the week

• Mimo raises £15.5m to launch its global B2B Payments platform
• Gilion secures €10m equity to expand Growth & Funding Platform
• Hokodo raises €100m debt facility to boost B2B payment solutions
• Experian set to acquire illion in Australia and New Zealand
• US-based Centrobill integrates UPI for the Indian market
• United Bank selects Jack Henry to modernise technology stack & drive growth
• Airwallex rolls out Borderless Visa Cards in Canada
• Oracle launches AI-Powered anti-money laundering service for Banks
• Electronica Finance secures $48m in Series-B funding led by LeapFrog
• Gieom partners with Stoics to expand compliance service in Europe
• Parafin secures $125m warehouse facility from Silicon Valley Bank & Trinity Capital

Be on the lookout for

Experience the heartbeat of the global FinTech ecosystem at Money20/20 Europe in Amsterdam from June 4th to 6th, 2024. Launched by industry insiders in 2012, Money20/20 is where some of the most innovative and fast-moving ideas and companies gather to find their footing and secure funding. From J.P. Morgan, Stripe, and Airwallex to HSBC, Deutsche Bank, and Checkout.com, Money20/20 is the premier destination where the world of finance converges to do business.