Yobota and Suade Secure New Fintech Deals

Separate developments for a cloud-native core banking platform and a regtech.

London-based fintech companies Yobota and Suade Labs have picked up two separate deals.

Yobota has built a cloud-native core banking platform for Tranch, a buy now pay later startup.

Suade, a risk and regulatory technology provider, has announced its partnership with Darlington Building Society, to manage its end-to-end regulatory reporting process.

Yobota Gets a Yes

Yobota, which was acquired by digital bank Chetwood Financial in March, says it provides architecture and API-first capabilities to Tranch.

Philip Kelvin, Co-Founder and CEO, Tranch, explains: “We’re delighted to work with Yobota, the flexible modularity of the platform gives us the freedom and support to build exactly the products we need, with a fraction of the usual development work.”

Tranch allows businesses to choose how they spread out expenses and a way to pay for contracts worth £10,000 to £250,000, while ensuring that they are paid upfront.

The announcement follows news that Tranch raised £3.5 million ($4.25 million) in pre-seed equity and debt funding to expand its B2B offering.

Yobota exists as a separate brand and offers Banking as a Service (BaaS) capabilities. Other UK providers in this sphere include Thought Machine, Starling Bank and Bankable. Chetwood’s ultimate goal with its recent acquisition seems to be “the delivery of a full end-to-end BaaS offering”.

The Art of Per-Suade-ion

Suade uses its financial regulatory open-source data standard (FIRE) in combination with a data-driven platform.

The regtech says it combines data standardisation with natural language processing and machine learning to automate report generation and regulatory maintenance.

According to Suade, Darlington has been focused on digital transformation projects across the society. The team’s key technical criteria for regulatory reporting included having an interoperable cloud structure.

Christopher White, CFO at Darlington Building Society, notes: “Our aim is to build a trusted and scalable regulatory reporting ecosystem that runs securely on the cloud. Suade’s ecosystem caters for all current and future regulatory requirements aligning with our objective of fostering transparency, automation, and efficiency throughout our entire process. We are delighted to have joined Suade’s community group.”

  • Check out some recent fintech deals for Thought Machine, WealthKernel and TrueLayer here
Antony Peyton
Antony Peyton
Antony Peyton is the Editor of eWeek UK. He has 18 years' journalism and writing experience. His career has taken him to China, Japan and the UK - covering tech, fintech and business. Follow on Twitter @TonyFintech.
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