Ikigai makes a comeback to FinTech Wire with the recently launched crowdfunding campaign, ALT/AVE helps banks go paperless with a new distributed ledger technology, and b-cube.ai starts the Initial Coin Offering. Here you’ll find the trending news from the industry!

FinTech news digest May 2021

Weekly FinTech news digest: 27 April—3 May 2021

Ikigai launches a crowdfunding campaign on Crowdcube

The startup plans to raise £1.2m to boost the development of the app

Ikigai, a digital banking and asset management app for affluent Millennials featured in FinTech Wire #21, started a UK crowdfunding campaign via the platform Crowdcube. After raising £2m in pre-seed investment from angel investors, the company plans to crowdfund another £1.2m in order to supercharge the growth of the team and the product roadmap. According to Ikigai, the decision to target young affluents comes from the fact that 56% of high-net-worth Millennials stated they can’t find an adequate wealth management solution. The startup has so far established partnerships with leading firms such as WealthKernel, Railsbank, and TruNarrative, as well as released an iOS version of the app to the public.

Read more about the spending habits of the Gen Z

ALT/AVE secures £535,000 funding to develop docStribute

The new distributed ledger solution will allow banks to share information in a secure and paperless way

Can banks ditch paper documents in communication with customers? The RegTech startup ALT/AVE is on a mission to make this possible. Having secured a £535,000 investment combined of £148,000 grant from Innovate UK and £387,000 from pre-seed funding round, the company will focus on developing its DLT-based solution docStribute. The tool is aimed at banks and other regulated organisations that have to comply with the FCA regulation when it comes to communication with customers. docStribute meets all the requirements and what is more, reduces paper usage in 95%, therefore driving down the costs and CO2 emissions.

Read more about security regulations in FinTech

b-cube.ai will use Sumsub’s KYC solution to secure its Initial Coin Offering

The investment will fuel the development of the trading bots marketplace

b-cube.ai, a provider of crypto trading bots, seeks to raise $3,075 million to further grow its platform. The investment will be carried out via an Initial Coin Offering. By selling the BCUBE tokens, the startup plans to attract global investors willing to contribute to the enhancement of the auto-pilot trading solution. The transactions are secured by the KYC and anti-money laundering solutions for crypto markets provided by the compliance suite Sumsub. The identity verification takes only up to 5 minutes and automates b-cube.ai’s regulatory compliance.

Read more about leading KYC solutions

AutoRek signed the infrastructure provider Omnio as a client

The solution will help Omnio automate reconciliation processes

As reported by FinTech Scotland, the Scottish regulatory and reporting platform provider AutoRek signed another digital banking startup as a client. Omnio, a financial services infrastructure provider, combines the features of a digital bank with solutions that support customer engagement and loyalty. The startup chose AutoRek’s core reconciliation tool to replace manually maintained Excel databases and automate internal as well as external reconciliations. Omnio’s team will also gain an efficient reporting and monitoring tools thanks to the variety of dashboards showing real-time data.

Read more about solutions that enhance customer experience in FinTech

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