Today in the Connected Economy: Revolut Offers Loans in US

Today in the connected economy, Revolut joins forces with Cross River Bank to build out its business in the United States. Plus, global identify verification firm Veriff works with Alloy to fight identity fraud, and U.K. real estate startups Fronted and Canopy form a partnership that lets tenants transfer deposits from one property to another.

Revolut Partners With Cross River Bank to Offer Financial Services in US

Cross River Bank, a technology infrastructure provider that offers embedded financial solutions, has joined forces with Revolut to build and scale Revolut’s business in the U.S. The partnership will open U.S.-based consumer loans for Revolut customers, add access to financial services for customers in the country and let Revolut offer more business verticals such as credit.

Veriff Partners With Alloy to Fight Identity Fraud

Veriff has teamed up with Alloy, an identity decisioning platform, to enhance Veriff’s know your customer (KYC) offerings. The partnership will help banks and FinTechs battle fraud and stay compliant while providing additional identity verification capabilities and KYC solutions that can be used during client onboarding in more than 190 countries. Customers can access Veriff’s identity verification technology through Alloy’s platform, helping FinTechs and banks quickly verify identities during client onboarding.

London Real Estate Startups Canopy and Fronted Partner to Launch Lifetime Deposit

London-based real estate startups Fronted and Canopy have formed a partnership that lets tenants transfer their deposit from one property to another, providing a solution to one of the biggest challenges facing leaseholders. Prior to the collaboration, renters were required to provide a new deposit before they could get a refund of their previous one. Fronted’s lifetime deposit allows renters to transfer their deposit from one landlord to the next. At the same time, the estate agent or landlord is not required to adjust their workflows, making the process much more seamless.

GoDaddy Brings Klarna’s BNPL Option to the Domain Aftermarket

Internet domain registrar GoDaddy and Swedish buy now, pay later (BNPL) company Klarna are working together to make purchases from the domain aftermarket more accessible. Entrepreneurs can use the aftermarket to buy domain names, including high-value ones, either with registered bids or a negotiated price. Under the terms of the deal, Klarna customers can use BNPL to pay the cost of the domain name in installments.

Laiye Acquires Mindsay to Augment Shift to Intelligent Automation

Chinese artificial intelligence (AI) firm Laiye has acquired Mindsay, a European chatbot and voicebot platform, for an undisclosed amount. The purchase of Mindsay and its conversational AI furthers Laiye’s goal of becoming a global provider of next-generation intelligent automation software. In addition, Laiye aims to open a research and development hub in Paris.