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SoFi To Buy Galileo Financial Technologies In $1.2B Deal

PYMNTS

In a deal valued at over a $1 billion, SoFi said it has inked a definitive deal to buy Galileo Financial Technologies. Galileo CEO Clay Wilkes said in the announcement, “SoFi has built a very strong diversified financial services company focusing on a full suite of financial services. I think it’s very powerful.”.

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OCC’s New Office of Financial Technology Portends Increased Supervisory Activity

CFPB Monitor

The OCC’s announcement that it will establish an Office of Financial Technology to “bolster the agency’s expertise and ability to adapt to a rapidly changing banking landscape” should come as no surprise to those who have been following recent pronouncements of Acting Comptroller Michael J.

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US Finance Crimes Org Calls For Private Sector Innovation

PYMNTS

The Financial Crimes Enforcement Network ( FinCEN ) is launching an initiative called the FinCEN Innovation Hours Program, as a call to private sector companies that have developed tech to fight money laundering and terrorist financing, the organization said in a release. FinCEN expects to hold events in the Washington, D.C.

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Equifax Buys Commercial Credit Data Company Ansonia

PYMNTS

Equifax , the Atlanta-based financial technology company, has purchased Ansonia Credit Data , a commercial credit data firm. Equifax said the addition of Ansonia’s data will complement its commercial databases of SMB loans, leases and credit lines including the Equifax Commercial Financial Network (CFN) and PayNet database.

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StanChart Deepens China Focus With Innovation Lab Launch

PYMNTS

bank Standard Chartered is expanding its network of innovation labs with the launch of an eXellerator lab in Shanghai, reports said this week. The latest lab will aim to promote collaboration between the bank’s employees, corporate clients and FinTech partners to develop new financial services for businesses.

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Digital mortgage application company Blend raises $130m to expand bank partnerships

Bank Innovation

As banks continue to partner with financial technology companies, digital mortgage application company Blend is hoping a major fundraising round will help create new partnerships.

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Corporate Payments Firm AccessPay Secures US Backing

PYMNTS

based corporate payments and treasury technology company AccessPay , reports in The Telegraph said on Sunday (Jan. million for the company, marking one of the biggest investment rounds for a FinTech company in Northern England. Corporate payments have not seen the same level of innovation as consumer payments.

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