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

Top Story

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

 

 




Senator JD Vance is an Investor in Bitcoin

Senator JD Vance is an investor in crypto, specifically Bitcoin. This week, Vance was announced as former President Donald Trump’s running mate, so he could potentially become the Vice President of the US if Trump wins the election. According to a report in Barrons, Vance… Read More

Bank of England Reports Issues with CHAPS, Impacting “High Value” Payments [U]

The Bank of England is reporting issues with CHAPS or Clearing House Automated Payment System, the platform that enables real-time gross settlement payments in the United Kingdom. The Bank stated that the issues impacted some “high-value and time-sensitive payments, including some house purchases.” The Bank… Read More

State Street Is Reportedly Exploring Feasibility of Blockchain-enabled Solutions

State Street (NYSE: STT) is currently examining various options for settling payments on blockchain, according to a report from Bloomberg. State Street, which is focused on the financial services and banking sector, is assessing if it should introduce its own stablecoin, issuing its own deposit… Read More

Bondora Reports Record-Breaking Month for Loan Originations Due to Steady Growth in Finland and the Netherlands

Bondora reveals that June was a “record-breaking” month for loan originations, thanks to steady growth in Finland and the Netherlands. Overall, Bondora Group’s loan originations has reportedly “totaled €24,567,566 – the highest origination amount ever.” In June, Bondora pointed out that 1,507 more people “created… Read More

Digital Identity Systems Are Increasingly Becoming Part of Multi-Component Ecosystems As Economy Becomes More Digitalized – Report

Digital identity is not the easiest concept to define, according to an update from Juniper Research. That’s because it overlaps with other, similar, areas. Juniper Research noted that the crossover “with areas such as security, privacy and data management can be significant, and in some… Read More

Arca Labs and Securitize Unlock Liquidity for Investors, Report Key Milestone for Tokenized Funds

Arca Labs, the innovation division of one of the leading digital assets investment managers, Arca, and Securitize, a key player focused on tokenizing real-world assets (RWA), have “unlocked liquidity for investors and achieved a significant milestone for registered, tokenized funds.” Arca received SEC exemptive relief… Read More

UK’s Smart Pension Agrees to Deal with STM Group PLC

Smart Pension, one of the UK’s workplace pension providers, announces that it has signed a commercial agreement with STM Group, to take on members of the Options Workplace Pension Trust (OWPT) to the Smart Pension Master Trust through a bulk transfer. The transfer, subject to… Read More

Fintech OneCard Enhances Credit Card Repayments with Razorpay

OneCard, a Fintech company in India, is forging a new path in the Indian credit card market and tapping into the fast-growing segment of tech-savvy individuals who value both design and financial control. As noted in a blog post by Razorpay, OneCard reportedly “manage over… Read More

Insurtech Platform Akur8 Selected by MSI to Boost Pricing Capabilities

‍Akur8, the insurance pricing solution powered by “transparent” machine learning, is pleased to announce its partnership with Millennial Specialty Insurance, LLC (MSI), which is said to be one of the largest non-carrier-affiliated managing general agencies in the United States. MSI has selected Akur8’s Risk and… Read More

Financial Services Industry Is on Verge of Major Regulatory Transformation with Digital Operational Resilience Act (DORA)

Law firm Mishcon de Reya LLP recently shared key insights impacting the Fintech and broader financial services sector. Based in London, Mishcon de Reya services an international community of clients and “provides advice in situations where the constraints of geography often do not apply.” The… Read More




Hong Kong: Results of Consultation on Stablecoins Revealed, ZA Bank Prepares to Support Stablecoin Issuers

A consultation on the regulation of stablecoins in Hong Kong was announced in December of 2023. Stablecoins typically refer to digital assets referencing fiat currency and may be viewed as updated payment rails. Today, the Hong Kong Monetary Authority (HKMA) has revealed the results of… Read More

Regtech Sumsub Global Fraud Report: Sophisticated Fraudulent Activities Like Deepfakes Are Increasing

Sumsub is pleased to introduce the ‘2024 Fraudlympics,’ ahead of the upcoming competition in Paris this summer. As part of an awareness campaign, Sumsub unveils new internal data revealing that Nigeria is the country with the highest spike in fraud rates, “across a range of… Read More

Failed Crypto Exchange FTX and CFTC Reportedly Agree to $12.7B Settlement After Extensve Negotiations

Bankrupt virtual currency exchange FTX and the US Commodity Futures Trading Commission (CFTC) have reportedly agreed to a $12.7 billion settlement. The said agreement between FTX and the CFTC is currently awaiting approval from a Delaware Judge. The parties have been actively engaging in discussions… Read More

Mangopay Announces Global Partnership with ManoMano

Paris-based Mangopay has announced a global partnership with ManoMano. Mangopay is a European Fintech success story that enables digital payments and specializes in supporting marketplaces. ManoMano is another French Fintech that targets the DIY, home improvement, and gardening sectors. ManoMano currently operates in six markets, including France, Belgium, Spain,… Read More

Veld Capital and Maya Capital Complete £45.7M Loan from OakNorth to Fund Development of New Central London Property

OakNorth – the digital bank “for entrepreneurs by entrepreneurs,” has provided a £45.7m loan to investment firms, Veld Capital and Maya Capital, to support the development of a major new hotel at 160 Blackfriars Road. Founded in 2009, Veld Capital is a private investment firm… Read More

UK Finance Warns Consumers About Expected Rise in Holiday Scams

UK Finance has recently cautioned consumers about the prevalence of holiday scams as criminals try to trick people this summer. UK Finance notes that as summer approaches and we look for opportunities to take a break away in the sun, UK Finance’s Take Five to… Read More

Majority of UK Sectors Saw Increased Output in June – Research Report

Eight out of 14 UK sectors saw output grow in June, according to latest data from the Lloyds Bank UK Sector Tracker. While this was three fewer than in May (11), when the Tracker reported “a 15-month high when the economy moved back into growth… Read More

Majority of Gen Z in the UK Are Participating in Social Media Challenge to Boost Savings According – Report

Social media may be inspiring a new generation of savvy savers and fiscally responsible young adults, with 74% of Gen Z participating in social media-driven challenges to boost their overall savings, as revealed in the latest NatWest Savings Index. In comparison to other age groups,… Read More

European Supervisory Authorities Consult on Guidelines Under Markets in Crypto-Assets Regulation (MiCAR)

The three European Supervisory Authorities (EBA, EIOPA, and ESMA – the ESAs) published a consultation paper on Guidelines under Markets in Crypto-assets Regulation (MiCAR), establishing templates “for explanations and legal opinions regarding the classification of crypto-assets along with a standardized test to foster a common… Read More

Send this to a friend