Fintech infrastructure is still hot.
As earnings season wraps up, we heard from nCino yesterday as they reported on their fiscal first quarter, which ended on April 30.
The company reported revenue of $128 million in Q1, up 13% from the same quarter last year.
Demand for its single-platform cloud banking solutions and AI offerings remains strong. The company also highlighted its agreement with M&T Bank, which leverages its explainable AI platform for continuous credit monitoring.
nCino is expecting to turn a profit this year on revenues of around $540 million.
Featured
> NCino Reports Demand for Cloud Banking, AI Drives Record Sales
NCino reported Wednesday (May 29) that demand for its single-platform cloud banking solution and AI features drove record gross sales in the most recent quarter.
From Fintech Nexus
> Nubank’s Credit Loan Strategy: How It Works
By David Feliba
Nubank executives talk credit strategy in Latam. The fintech has a portfolio of $20 billion comprised of personal and credit card loans.
> Breaking Down a Broken Healthcare Payments System
By Brian Marsella
With increasingly unaffordable healthcare costs, higher deductible health plans, and confusing medical billing statements, Americans are simply turning away from healthcare. This article will discuss how healthcare affordability and care avoidance are closely linked and how both affect patients, employers, and providers. In addition, it will explain why even patients with insurance are in desperate need of a new financial payment model that addresses the burden of healthcare costs.
Podcast
Joel Sequeira, Director of Product at IDology, on using AI in identity verification
There is no area of fintech moving faster than identity verification today. With new attack vectors coming online every day…
Editorial Cartoon
Webinar
Innovations for Smarter and Quicker Lending Decisions
Jun 6, 12pm EDT
The borrower of 2024 is more demanding than ever before. They want instant loan approvals and a frictionless checkout process….
Also Making News
- Global: PayPal’s stablecoin gains allies to help position it for payments
Payment firm BVNK is betting that PYUSD’s potential to connect to PayPal’s network of millions of consumers and businesses will make it more than another investment currency.
- USA: Former teen model co-created app Frich to help Gen Z be more realistic about finances
As a teen model, Katrin Kaurov became financially independent at a young age. Aleksandra Medina, whom she met at NYU Abu Dhabi, also learned to manage money early on.
- USA: Fintech Copper burned by Synapse collapse
The teen-focused fintech had to shut down its bank deposit accounts and debit cards mid-month — an earlier wind-down than expected due to turmoil experienced by its middleware provider, Synapse.
- USA: Fintech startup Forward grabs $16M to take on Stripe, lead future of integrated payments
It’s a lofty goal to take on legacy payments infrastructure, however, Forward’s model has an advantage by shifting the economics back to SaaS companies.
- Europe: First alternative to Apple Wallet is ready to launch in EU
The UK firm Curve claims it will be the first complete Apple Wallet alternative once Apple fully complies with the EU’s requirement to allow rivals use of its iPhone NFC technology.
- USA: Embedded finance startup Infinant Acquires Figure Pay’s Card Processing Technology
Infinant, a banking technology provider enabling banks to launch alternative growth channels, announced today that it has completed a definitive agreement to purchase Figure Pay’s Card Processing Technology, built by Figure Technologies.
- Europe: FintechOS raises $60 million
FintechOS, a European startup promising a low-code approach to helping financial institutions quickly and painlessly go digital, has picked up $60 million in a Series B+ funding round extension.
- USA: How financial firms are stepping up with new tools, experiences, and guidance to serve SMBs
Financial service providers continuously balance their desire to meet the expectations of their SMB customers with their abilities to realistically serve them. Financial firms serving SMBs are addressing these challenges through a diverse array of new products and services.
To sponsor our newsletters and reach 180,000 fintech enthusiasts with your message, contact us here.