Weekly News Highlights – January 20 2022

Stay up to date with the latest news from fintech! This week, we bring you updates and developments on partnerships, lending, banking, crypto, NFT and more. Enjoy reading!

Indian FinTech LegalPay Creates Healthcare Fund for Retail Investors (PYMNTS)
FinTech startup LegalPay has rolled out an interim finance healthcare-focused fund for retail investors. The fund will be available to those willing to invest a minimum of Rs 10,000 (approximately $134) for every opportunity, in asset-backed legal and debt financing asset classes. The report notes that interim finance is a super short-term financing, which allows for an insolvent company to remain operational even while undergoing the Corporate Insolvency Resolution Process. Read more.

ESG Risk Firm Window Acquires Fintech Drift (PYMNTS)
Window, a company providing environmental, social and governance (ESG) data and risk assessment tools, has acquired Fintech Drift, a publisher that offers insights into how technology affects financial markets. Window announced the deal in a news release Tuesday (Jan. 18), saying it allows the company to “provide bleeding-edge content on how the acceleration of machine learning, the adoption of financial technology and the transition to stakeholder capitalism are reshaping the public markets and alternative assets landscapes.” Read more.

Mastercard Users Can Soon Buy NFTs From Coinbase’s Marketplace (Fintech News)
Mastercard announced a partnership with cryptocurrency exchange Coinbase to let people use their Mastercard cards to make purchases on the latter’s upcoming non-fungible token (NFT) marketplace. This partnership comes on the heels of the company’s recent “Coinbase NFT” launch, a peer-to-peer marketplace for the minting, purchasing, showcasing, and discovering NFTs in October 2021. The duo will be classifying NFTs as “digital goods” in order to make it easier for a broader group of consumers to purchase them, according to a blog post by Coinbase. Read more.

Agility Bank, Numerated Partner on ‘Bank of the Future’ (PYMNTS)
Women-led commercial community bank “Agility Bank (in organization)” is calling on FinTech startup Numerated to help it offer streamlined, digital lending experiences to clients using its full suite of business banking products, according to a press release. Agility Bank is being established under a special Minority Depository Institution charter of the Office of the Comptroller of the Currency (OCC), the release stated. The institution is focused on helping small- to medium-sized businesses (SMBs), primarily those owned by women or minorities, with an all-digital approach. Read more.

US fintech nCino tapped by Cambridge & Counties Bank for lending infrastructure upgrade (Fintech Futures)
UK lender Cambridge & Counties Bank has selected US fintech nCino as the firm looks to upgrade its back-office lending infrastructure. nCino area vice president for UK and Ireland Jonathan Annis says the company’s end-to-end cloud-based platform will “enhance employee, broker and customer experiences” at Cambridge & Counties Bank. nCino adds that commercial brokers and the bank’s customers will benefit from an “increased level of automation and data analytics”, supporting the bank’s established personal service model. Read more.

Freight tech provider shifl shifts into fintech market (The Load Start)
Logitech provider shifl (Yiddish for ship) unveiled its latest offering today when it launched shifl capital, a free instant freight payment system. It derives from the US-based company’s banking experience and was developed to incorporate shifl’s supply chain visibility functionality. This means a shipper, BCO or freight forwarder using the system can see when the box passes particular stages of its supply train journey which require payments to be made. The user can then use deposited funds to make instant payments. Read more.

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