December 11, 2024 @ 2:51 pm By Omar Faridi  |  

By the end of 2024, Bank of America (NYSE: BAC) corporate clients will have made over $1 Trillion in payment approvals on the bank’s CashPro App, the mobile app that firms use to manage treasury operations. This will represent a more than 25% year-over-year increase… Read More

December 11, 2024 @ 1:39 pm By Omar Faridi  |  

Consensys shared the findings of its opinion survey on crypto and web3, conducted online by online research data and analytics technology group YouGov. As a follow-up to the report from 2023, Consensys expanded the scope of the survey, reaching over 18,000 individuals aged 18-65. With… Read More

December 11, 2024 @ 1:38 pm By Omar Faridi  |  

Chainlink, which claims to be the standard for onchain finance, and Coinbase (NASDAQ:COIN) announced  that Coinbase’s Project Diamond—a digital asset platform for institutions—is adopting the Chainlink standard as infrastructure for powering the lifecycle management of tokenized assets. Peregrine, PSG Digital’s regulated business in the ADGM,… Read More

December 11, 2024 @ 11:11 am By Omar Faridi  |  

Socure, the provider of artificial intelligence for digital identity verification, sanction screening, and fraud prevention announced milestone achievements for its First-Party Fraud Consortium. The consortium seeks to unify firms in order to tackle the multi-industry issue of First-Party Fraud by “pooling data and insights which… Read More

December 11, 2024 @ 11:09 am By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed charges against three Nigerian nationals for scamming investors out of $2.9 million. According to the SEC, the trio impersonated legitimate investment advisors and conning around 28 investors. At the same time, the United States Attorney’s Office for… Read More

December 11, 2024 @ 10:38 am By JD Alois  |  

The Cambridge Centre for Alternative Finance (CCAF) has published a report on central bank digital currencies (CBDCs), more specifically, wholesale central bank Digital Currencies (wCBDCs), which may limit these digital assets to institutional use. While CBDCs continue to be debated and some jurisdictions are actively experimenting… Read More

December 11, 2024 @ 9:52 am By JD Alois  |  

Blink Payment says it is targeting late payments for construction contractors by partnering with Business Pilot. The company points to data that indicates that 74% of construction contractors are affected by late payments. The Fintech said it is integrating with the fitting industry enterprise resource… Read More

December 11, 2024 @ 8:23 am By JD Alois  |  

Expectations are high that the Trump Administration will support financial innovation and entrepreneurship. Many Fintechs are elated with his election, as it contrasts to the difficult environment during the Biden Administration. The Financial Technology Association (FTA) has published a “Fintech Policy Roadmap” that the administration… Read More

December 11, 2024 @ 8:12 am By Omar Faridi  |  

Wayne Pommen, Affirm’s (NASDAQ: AFRM) Chief Revenue Officer, noted that the holiday shopping season is here and for retailers, it’s “make-or-break time.” Pommen also mentioned in a blog post by Affirm that despite recent inflation and economic uncertainty, retail spending is expected to “stay strong.”… Read More

December 11, 2024 @ 7:37 am By Tony Zerucha  |  

A representative from digital identity platform SPACE ID believes the ECB’s [European Central Bank] work on the digital euro leaves plenty to be desired, especially regarding privacy. Alice Shikova made the comments following the release of the ECB’s second progress report. “The ECB’s second progress… Read More

December 11, 2024 @ 7:34 am By Omar Faridi  |  

Utila, the crypto operations platform and enterprise-grade MPC wallet provider, announced a partnership with Twinstake, an “institutional-grade,” non-custodial staking provider to offer TON staking solutions for institutions. This collab empowers institutional investors to participate in TON staking and generate yields on their digital assets. The… Read More

December 10, 2024 @ 10:19 pm By Tony Zerucha  |  

Hackers targeting hackers, vulnerable data centers, and AI-supported employee theft are among Experian’s predictions for the trends that will shape 2025. They are included in Experian’s twelfth annual Data Breach Industry Forecast. Today, cyber hacking and its results are not confined to grown-ups. According to the… Read More

December 10, 2024 @ 10:15 pm By Omar Faridi  |  

Lunar, the Nordic challenger bank, is taking a step to redefine payments for enterprises by over time transitioning its Banking Services division into a new standalone entity within Lunar Group: Moonrise. This move underscores Lunar’s commitment to scaling its operations and unlocking the immense potential… Read More

December 10, 2024 @ 10:14 pm By Omar Faridi  |  

Crypto.com has announced a further acceleration of its plan to offer traditional financial services products with the acquisition of Orion Principals Limited, which is reportedly regulated by the Abu Dhabi Global Market (ADGM). Orion is an Abu Dhabi-based brokerage firm and is reportedly licensed by… Read More

December 10, 2024 @ 10:12 pm By Omar Faridi  |  

Cross River CEO Gilles Gade has applauded David Sacks’ nomination, calling it a win for Fintech, crypto, and AI regulation. Gilles Gade, Founder and CEO at Cross River Bank, noted that David Sacks’ nomination as ‘AI & Crypto Czar’ could be a pivotal moment for… Read More

December 10, 2024 @ 10:11 pm By Omar Faridi  |  

As consumers took advantage of Black Friday and Cyber Monday deals, analysis from TransUnion (NYSE: TRU) found that 4.6% of attempted ecommerce transactions globally were suspected to be Digital Fraud from this Thanksgiving to Cyber Monday. Based on insights from TransUnion’s intelligence network, TransUnion found… Read More

December 10, 2024 @ 10:10 pm By Omar Faridi  |  

Five in 10 advisors surveyed now reportedly allocate more than 10% of client portfolios to alternative investments, with nine in 10 or 90% planning to boost allocations over next two years, according to an update shared by CAIS. Nine in 10 financial advisors surveyed (92%)… Read More

December 10, 2024 @ 10:08 pm By Omar Faridi  |  

Apollo (NYSE: APO) and Santander announced that Apollo-managed funds and affiliates have agreed to invest in an approximately $370 million portfolio of infrastructure credit. The transaction was led by Apterra, an affiliate of Apollo founded in 2023 that specializes in “financing solutions for infrastructure projects.”… Read More

December 10, 2024 @ 10:07 pm By Omar Faridi  |  

Earlier this year, Payments Canada reportedly conducted a public consultation on proposed changes to Rule H6, which provides the framework for processing bill payment remittances via the Automated Clearing Settlement System (ACSS). The proposed changes aim to improve operational efficiency, the ability to embrace technological… Read More