James Fry, SVP at Worldpay, Explains Why FedNow 1-Year Anniversary Is Key Milestone for Payments Ecosystem

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July 20, 2024, will mark exactly one year since the Federal Reserve announced the launch of the notable FedNow Service, which has allowed customers at participating financial institutions to make payments that can be sent and received at any time, immediately available to use. The… Read More

 

 




DECTA, Cashflows Execs React to CHAPS Payment Systems Outages Impact

Executives from two Fintech companies believe this week’s system outages could hurt SMEs the most and highlight the need for additional resiliency in an increasingly connected world. The past seven days began with an outage at CHAPS. While it was temporary, it significantly affected European… Read More

AI-Powered Tax Firm April Adds Google Vet Raj Doshi as COO

april, an AI-powered tax-filing product built to be embedded with financial services providers, this week appointed Raj R. Doshi as its president and chief operating officer. Doshi brings more than 20 years of experience with organizations including Google, TaxAct and Avantax. Doshi’s focus will be… Read More

Fintech Ecosystem Report: Blockbuster Deals to Stripe and AlphaSense Buoy a Flat Quarter for Fintechs

Blockbuster deals to Stripe and AlphaSense buoy an otherwise flat quarter for the Fintech sector, according to an extensive update from CBInsights. On the surface, Q2’24 was a return “to growth for fintech, with funding increasing 19% quarter-over-quarter (QoQ) to $8.9B,” the CBInsights report revealed…. Read More

Clear Street Is Reportedly Set to Acquire Fox River Algorithmic Trading Division from Instinet

Clear Street, a cloud-native financial technology firm on a mission to modernize the brokerage ecosystem, has entered into a definitive agreement to acquire Instinet’s Fox River algorithmic trading business. Fox River provides a comprehensive “suite of algorithmic execution solutions in US and Canadian equities.” These… Read More

Global Fintech FIS Introduces Digital Lending Solution for SMBs

FIS (NYSE: FIS), a global firm focused on financial technology, announced the launch of its new SMB Digital Lending solution. Created in partnership with Lendio, the nation’s small business financial solutions technology platform, the solution aims to “reduce the barriers to funding for small and… Read More

9Spokes Launches Cashflow Forecasting Product, Designed for Integration within Financial Platforms

9Spokes, a global data platform, announced the launch of its new Cashflow forecasting product, a tool designed for integration within the digital platforms of financial organizations. This offering provides small and medium-sized businesses (SMBs) with “automated, predictive cashflow management and forecasting capabilities.” A recent study… Read More

Central Banks of UAE, Indonesia Partner for Cross-Border Payment Systems

The Central Bank of the UAE (CBUAE) and Bank Indonesia (BI) have signed a Memorandum of Understanding (MoU) to enhance bilateral cooperation in payment systems. This agreement was formalized during a visit to the UAE by Indonesian President Joko Widodo. The MoU, signed by Khaled… Read More

Matera, a Banking Software Provider, Announces $100M Investment from Warburg Pincus

Matera, a banking software provider, announced a $100 million investment from Warburg Pincus, a global growth investor. The investment will be used to fund the company’s “expansion into the North American market and further expand product development.” Founded in Brazil, Matera is a technology “provider… Read More

Payment Systems Outages a Modernization SOS: Silverflow Co-Founder

The co-founder of a cloud platform for global card processing insists that recent payment systems outages are the price the world pays for widely used yet outdated infrastructure. Robert Kraal is the CBDO of Silverflow, which offers a cloud-native solution with a single API for… Read More

Episode Six Debuts PaaS Solution on AWS Marketplace

Episode Six, a payment processing provider and digital ledger infrastructure, has announced that its cloud-based solution, offering payments-as-a-service, is now available on the Amazon Web Services (AWS) Marketplace. The company operates across 14 AWS availability zones, including regions such as the United States, Europe, Singapore, Australia,… Read More




Raise, Parity Technologies to Provide Polkadot Mobile App Payment Rails

Raise, a payments provider in the global gift card industry, announced a partnership with Parity Technologies this week to provide the payment rails for the upcoming Polkadot mobile application. Previewed during last week’s Polkadot Decoded conference, Raise’s white-label payments and gift card infrastructure API will allow users to make… Read More

Ghana: Traditional Banking Still Favored by 47% Despite Digital Shift: PwC Report

Amid the accelerating shift towards digital banking, nearly half of banking customers in Ghana still favor traditional banking methods, according to the 2024 PwC Ghana Banking Survey Report. The survey reveals that 47% of respondents prefer to conduct their banking transactions through conventional means, highlighting… Read More

Parcl, Propy Union Could See $50B of Property Tokenized by 2025

Propy, a real estate tokenization platform, and Parcl, a DeFi protocol built on real estate data, have announced a new strategic partnership. It will enhance the analytics of all on-chain real estate minted on PropyKeys using Parcl’s data integrations. Parcl and Propy revealed that more than $10 billion worth of… Read More

AuthenticID Report Documents 73% Rise in Fraudulent Transactions; AI Main Culprit

Fraudulent transactions in the first half of 2024 were up more than 73% year over year, and suspected fraudulent transactions increased by more than 84%, according to the 2024 Mid-Year Identity Fraud Review, released this week by AuthenticID, a provider of identity verification and fraud… Read More

Inversis Acquisition to Drive Euroclear European Expansion

Euroclear has acquired a 49% stake in Inversis, a global investment technology solutions provider and outsourced financial services. By the end of 2027, Euroclear will become the full owner of Inversis. The transaction is subject to customary closing conditions and regulatory approvals. Founded in 2001 and… Read More

Fintech Wamo Announces New Funding to Assist Small Businesses with Enhancing Operations

Yanki Onen, CEO and founder at wamo, is pleased to share a significant update, which is not only positive news for them, but also significant for their customer base. Yanki Onen revealed that wamo has “secured a $5 million growth-focused investment, and officially obtained their… Read More

Chainlink Digital Assets Sandbox Designed to Help Financial Institution Digitization

Chainlink believes its new Chainlink Digital Assets Sandbox (DAS) will accelerate digital asset innovation within financial institutions. The company said Chainlink DAS is designed for financial institutions that want to quickly innovate and experience the potential of generating new revenue opportunities, increasing efficiencies and improving… Read More

Central Bank Approves One Bank, Egypt’s First Native Digital Bank

Misr Digital Innovation, the investment arm of Banque Misr, has received approval from the Central Bank of Egypt to launch One Bank, the country’s first native digital bank. This marks a significant milestone in Egypt’s banking sector, as it embraces the latest technological advancements in… Read More

AmInvestment Bank Streamlines Securities Finance Services with Broadridge to Enhance Client Value

To transform and expand their prime brokerage business lines and as part of its broader efforts to add and enhance value for its clientele, AmInvestment Bank, a company in the Ambank Group and one of the largest banking groups in Malaysia, has deployed global Fintech… Read More

Stratyfy, a Fintech Optimizing Credit Risk Decisions, Teams Up with Prism Data

Stratyfy, a Fintech confronting bias in AI and optimizing credit risk decisions with transparent machine learning solutions, announced its partnership with Prism Data, a cash flow underwriting and data analytics platform. Prism Data enabled modern cash flow underwriting “that uses digital deposit account data to… Read More

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