Capital markets

With 1.3 billion people who are mostly unbanked in an economy where 85% to 95% of all transactions are still conducted in cash, few other markets have such an opportunity to modernize payments.

Constellation Digital Partners, LLC, has raised $26 million in the last 10 months.

Independent Bank Group said the firms had become shareholders after it bought Carlile Bancshares last year.

Legacy financial firms like the big credit bureau are seeking out financial technology to diversify themselves, bring new products to market faster and meet the needs of global customers.

China’s Ant Financial, which already has a large stake in India’s Paytm and operates its own Alipay wallet in China, is taking a 45% stake in Pakistan’s Telenor Microfinance Bank (TMB).

To detect and combat transaction laundering — the practice of hiding illegal activity behind a business that appears legitimate — American Express' investment group took a minority equity stake in EverCompliant.

Backbone Hosting Solutions Inc., a cryptocurrency mining company, said it plans to invest C$250 million ($193 million) in computing centers in Sherbrooke, Canada.

The venture capital firm Anthemis seeded 21 fintech startups in its first discretionary fund, which raised $106 million. It favors management teams made up of people from all walks of life who have fresh ideas about shaking up banking and insurance.

RecargaPay, an eight-year-old mobile payments platform targeting unbanked and underbanked consumers in Brazil, has secured $22 million in funding to reach more users and merchants.

Customer support may seem like it's innovating through the use of artificial intelligence and chatbots, but all of that is built on a foundation that's stuck in the stone age.