Banking tech market updates: Oracle, Revolut and more

Monthly updates on the standout tech developments in banking

by | July 21, 2021 | bobsguide

On July 14, financial services software firm Oracle announced it is partnering with fintech provider Everest. The partnership will seek to bring blockchain technology to banks around the world, with the two firms planning to officially merge into one product by Q4 2021.

The challenger bank Revolut, on July 15, announced that it has raised £587m in its latest funding round. The deal, led by SoftBank’s Vision Fund 2 and Tiger Global Management, values the firm at £23.9bn, making it the UK’s most valuable private tech company ever.

On July 20, US-based financial services and digital payments firm Square launched its new banking product for small businesses, Square Banking. The new product sees the company expand beyond its original debit card offering, combining a checking and savings accounts, and loans to create an all-in-one platform for SME finance solutions.

On July 21, leading specialised payments platform Paysafe announced a strategic partnership with Bankable, a global provider of banking-as-a-service solutions. The two firms will collaborate to launch a range of integrated, omnichannel banking services.

Finally, on July 21, UK fintech start-up Yapily announced that it completed a £37m Series B funding round led by Sapphire Ventures. Yapily aims to create a single, unified open banking API service for a range of European markets, allowing developers to leverage the interface to interact with third-party bank accounts.

If you’re in banking tech and have a recent update the market should know about, email [email protected]

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