FinTech news in open finance category

Ayoconnect’s new funding will be used for leadership hiring, and on its Ayoconnect’s product and technology, including new solutions for payments, data and banking and new APIs for account opening and card issuing.

Inside Plaid’s plans to build a new, global finance network Other participants include Trihill Capital and returning investors Better Tomorrow Ventures and Rally Cap Ventures, along with individual investors like Creative Juice co-founder and CEO and Plaid’s former head of business development and strategy Sima Gandhi; Bond Financial Technologies co-founder Yan Wu; Brian Ma, founder of Divvy Homes; Iterative co-founder and managing partner Ooi Hsu Ken; Pine Labs CEO Amrish Rau; and Aspire co-founder and CEO Andrea Baronchelli. Brick’s APIs include Brick Data, Brick Verification and Brick Payments, which can enable an end-to-end process for online loans, including verifying user identity, underwriting and making sure that funds are disbursed into the right bank account. This amount includes Brick previously undisclosed seed funding, which journalist reported in May 2021, but the majority of it is fresh capital, said co-founder and CEO Gavin Tan. Brick currently operates primarily in Indonesia, but is planning to expand into Singapore and the Philippines before eventually covering all markets in Southeast Asia.

For example, these included four new payments products — Direct, for account-to-account bank transfers; Disburse for remittances directly from accounts; Pay, a no-code solution for micro-businesses to collect payments; and for enterprise customers, IPG, a platform created for large financial institutions to collect payments on behalf of merchants.