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Savana raises a fresh round of capital to digitize banks’ services

TechCrunch

Malvern, Pennsylvania–based Savana, a company building financial software products for legacy banks, today announced that it raised $45 million. CEO Michael Sanchez told TechCrunch that the proceeds will be put toward general growth and supporting Savana’s go-to-market and product development projects. Image Credits: Savana.

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Alloy, Synctera and Unit discuss the future of embedded finance at TC Disrupt

TechCrunch

Banking-as-a-service (BaaS), embedded finance and open banking are among the hottest topics in fintech today. Make opening a bank account, storing money, receiving a payment card and lending money as easy as opening a social network account. The promise?

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The new CIO mandate: Selling AI to employees

CIO

Still, a report surfaced earlier this month that global banks and investment firms are examining the possibility of replacing entry-level financial analyst positions with AI. Our responsibility as CIOs is certainly to fund and empower work to develop and implement AI tools safely in our workplace.”

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Farther, a wealth tech firm, banks $15M Series A as valuation hits $50M

TechCrunch

The wealth technology company was co-founded in 2019 by Taylor Matthews and Brad Genser, who say Farther is “a new kind of financial institution” catering to high-net-worth professionals building generational wealth but want the freedom of both an automated system and a professional.

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Octane banks $2M for flexible billing software

TechCrunch

In Khanolkar’s case, he ran a cloud consulting business and saw how fast companies like Datadog and Snowflake were coming to market and dealing with Amazon Web Services. Software billing startup Octane announced Tuesday that it raised $2 million on a post-money valuation of $10 million to advance its pay-as-you-go billing software.

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Zeal banks $13M to offer employers a ‘build your own’ payroll product infrastructure

TechCrunch

Embedded fintech company Zeal secured $13 million in Series A funding to continue developing its platform for building individualized payroll products. The Bay Area company’s origin was as Puzzl, a payment processing startup for the gig economy, founded in 2018 by Shenoy and CTO Pranab Krishnan.

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Top 9 challenges IT leaders will face in 2023

CIO

The need to grow smartly Gil Westrich’s company, ClearML, is benefiting from increased adoption of artificial intelligence and machine learning (ML) technology. But the CTO and co-founder says that scaling to meet that demand presents its own challenges, which require self-reflection. How do we grow our business responsibly?”