December 7, 2022 @ 6:35 pm By JD Alois  |  

Congressman Patrick McHenry has been selected as the incoming Chair of the House Financial Services Committee. The House Republican Steering Committee made the move in advance of the 118th Congress, which commences in January when the Republicans take over leadership of the House. McHenry’s selection… Read More

December 7, 2022 @ 6:21 pm By Omar Faridi  |  

Operative Intelligence, which claims to be the first purpose-built Demand-Insights-as-a-Service platform, raised $3.5 million in a seed funding round “to significantly expand its team and scale its customer intelligence product capabilities for the world’s leading enterprise companies.” The investment round was “led by Bonfire Ventures… Read More

December 7, 2022 @ 4:51 pm By JD Alois  |  

In a very difficult economic environment, Robinhood (NASDAQ:HOOD) has published select data points highlighting platform operations. According to the trading platform: Net Cumulative Funded Accounts (NCFA) at the end of November were 23.0 million, up approximately 40 thousand from October 2022. Monthly Active Users (MAU)… Read More

December 7, 2022 @ 4:44 pm By JD Alois  |  

The Depository Trust & Clearing Corporation (DTCC) has published its annual Systemic Risk Barometer Survey. The results should come as no surprise. According to DTCC: 68% of survey respondents cited Geopolitical Risks & Trade Tensions as a top threat, up from 49% last year 61%… Read More

December 7, 2022 @ 4:08 pm By JD Alois  |  

Airwallex has partnered with open banking platform Plaid. The agreement will see Airwallex offer an integrated solution for Automated Clearing House (ACH) payments. Airwallex said this will enable a more seamless and cost-efficient way to authorize debits from bank accounts into Airwallex accounts.  Users will… Read More

December 7, 2022 @ 4:01 pm By JD Alois  |  

Fitch Ratings has posted a comment on the Fintech market, taking a neutral stance on innovative financial services firms for 2023. Fitch predicted continued revenue growth for North American and European Fintechs in 2023, but at a slower pace than in recent years. As one… Read More

December 7, 2022 @ 3:47 pm By JD Alois  |  

Coinbase (NASDAQ:COIN), the only publicly traded crypto exchange, is not having a very good year. In fact, Coinbase CEO Brian Armstrong recently commented in an interview that revenue in fiscal year 2022 is expected to be half of what the exchange delivered in 2021. The… Read More

December 7, 2022 @ 3:33 pm By Omar Faridi  |  

TIFIN, the wealth AI platform known for its engaging experiences to enable better outcomes, has launched a new platform, TIFIN AMP, that “addresses distribution frictions in the asset management industry.” This new platform “combines marketing, data science and sales enablement capabilities to drive more intelligent… Read More

December 7, 2022 @ 11:34 am By JD Alois  |  

Digital bank Zopa has distributed a note that they are “bucking the trend” and raising entry-level pay by around 20% as other firms are letting people go. Starting pay for entry-level positions now commences at £27,000 – an amount that Zopa states is 25% a… Read More

December 7, 2022 @ 11:06 am By JD Alois  |  

This past Mondy, Silvergate (NYSE:SI) CEO Alan Lane took the extraordinary measure of posting a public letter defending his bank’s handling of the accounts of now bankrupt FTX and affiliated hedge fund Alameda Research. Silvergate is a regulated bank that has been a leader in working… Read More

December 7, 2022 @ 10:43 am By JD Alois  |  

Popular digital bank Starling Bank has announced new virtual cards along with features that can be incorporated into the tech. Starling Bank said that virtual cards are now available for Personal Current Account customers and updated its Spending Insights. The features add to the bank’s… Read More

December 7, 2022 @ 9:37 am By JD Alois  |  

As part of the ongoing objective of a Capital Markets Union, the European Union has announced new proposals aimed at making it easier for firms to list securities across the EU. According to a statement by the EU: Today’s proposed measures will: Make our clearing… Read More

December 7, 2022 @ 9:18 am By JD Alois  |  

Avant has raised $250 million of corporate debt and redeemable preferred equity from Ares Management Alternative Credit funds, according to a release. Avant is an online lender that targets alternative assets like specialty finance, leasing, structured products and more. Matt Bochenek, CEO of Avant, said… Read More

December 7, 2022 @ 9:08 am By JD Alois  |  

ADDX has announced another digital security available for investors on its digital asset exchange. The most recent security is a venture debt offering by Innoven Capital – a JV between Seviora (a Temasek subsidiary) and UOB. The $50 million fund combines a fixed return as… Read More

December 7, 2022 @ 8:48 am By Omar Faridi  |  

Crypto exchange Gate.io, which claims to be one of the world’s “leading” trading platforms, says that it aims to position itself “as a key driver of the crypto industry during the bear market.” As companies restrategize to adapt to changing market conditions, Gate.io is spearheading… Read More

December 7, 2022 @ 8:46 am By Omar Faridi  |  

As a licensed platform, Debitum must regularly “conduct internal and external audits.” The latest external audit was performed by Grant Thornton International in October 2022. The subject of this audit was “to inspect how well are managed investors funds and to examine platforms’ procedures and… Read More

December 7, 2022 @ 8:09 am By Omar Faridi  |  

Sometimes, innovation comes “out of frustration.” That was “certainly” the case for kennek, the vertical software solution for lenders. As Thibault Lancksweert, kennek Founder and Co-CEO notes: “Our motivation for starting kennek stemmed from our own frustrations as lenders. We found that, despite the many… Read More

December 7, 2022 @ 8:07 am By Omar Faridi  |  

Nubank, which claims to be one of the world’s largest digital financial services platforms, announced an equity capitalization of $330 million, which will be “invested to finance the expansion of the company’s portfolio, increase penetration across market segments and strengthen its operations and long term… Read More

December 6, 2022 @ 11:47 pm By Omar Faridi  |  

Adyen (ADYEN:AMS), which claims to be the global financial technology platform of choice for leading businesses, announces “the launch of four accelerator programs following the success of EMEA accelerator winner, Pivot.” Alongside the relaunch of the Amsterdam based EMEA program, the new accelerators will reportedly… Read More

December 6, 2022 @ 11:15 pm By Omar Faridi  |  

Global fintech platform Airwallex is pleased to announce that Kai Wu has been jointly appointed “as the company’s Chief Revenue Officer (CRO) and Asia-Pacific General Manager (APAC GM).” Kai has “held a number of senior positions at Airwallex for close to five years, including as… Read More