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SoFi To Buy Galileo Financial Technologies In $1.2B Deal

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In a deal valued at over a $1 billion, SoFi said it has inked a definitive deal to buy Galileo Financial Technologies. The online personal finance firm will pay total purchase consideration of $1.2 billion composed of shares and cash, according to an announcement.

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Citi Teams With Cachematrix To Revamp Online Investing Experience

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Citi is leveraging a newly formed strategic partnership with Cachematrix to create an online investment gateway for money market funds (MMF), Citi announced in a press release on Tuesday (Oct. Cachematrix is excited to power Citi’s Online Investments portal with our best-in-class financial technology.

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SoftBank Reportedly Tapping Into Online Used Car Trend

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Among the ongoing trends in retail is the funding for online used car platforms, and the ongoing rise of eCommerce and digital payments in Latin America. Consumers who want to sell their cars via that platform reportedly seek an online price estimate. “If The latest news from SoftBank confirms the growth of used cars online.

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Senate Federal CEO On Protecting Member Trust During Digital Overhauls

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Credit unions (CUs), as much as other financial entities, are seeing a boom in competition as banking moves to online and mobile channels. Customers today expect to be able to access financial services instantly, which can put pressure on CUs that need to stretch restricted technology budgets into innovative new features.

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Today In Payments Around The World: Mynt Looks For Additional Funding; WeTrade Transfer From OTC Could Bring In $121 Million

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In today’s top payments news around the world, Mynt is reportedly seeking more funding following a $175 million round, while WeTrade Group is seeking to raise roughly $121 million in its transfer from the OTC board to Nasdaq. Ant-Backed Mynt Seeks More Funding On Heels Of $175 Million Round. Mynt, for its part, runs the GCash digital wallet.

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Varo Achieves Milestone As First Consumer FinTech To Get National Charter

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Colin Walsh got lots of laughs five years ago when he talked of his intention to launch a financial technology (FinTech) startup. the San Francisco-based online bank, had the last laugh. Varo is the first consumer FinTech to receive a new national bank charter from the U.S. Varo Bank N.A.

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Inside The FIS Innovation Process With EVP Bruce Lowthers

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The basis of innovation is not the desire to create something new or even the inspiration to do so. Innovation occurs where there is a problem and a person with the tools to solve it. Anyone can have a good idea,” Lowthers said; innovation is about what you do with it. It’s very deliberate.