November 19, 2019 @ 3:00 pm By Omar Faridi  |  

The Bank of Nova Scotia (Scotiabank), the third-largest bank in Canada in terms of market capitalization and deposits, is introducing a new program that will give the institution’s senior workers an opportunity to understand the ethical principles and guidelines involved in using artificial intelligence (AI)-based… Read More

November 19, 2019 @ 9:39 am By Omar Faridi  |  

Elavon, a credit card payment processing service and subsidiary of US Bancorp (NYSE: USB), has reportedly committed to acquiring Sage Pay, an established payments processing business based in the UK and Ireland. Sage Pay operates as a division of The Sage Group plc (SGE), a… Read More

November 19, 2019 @ 7:22 am By Omar Faridi  |  

Zürich-based Swiss Infrastructure and Exchange (SIX) Group AG, the operator of Switzerland’s stock exchange, recently revealed that it has made an all-cash offer for Bolsas y Mercados Espanoles, a Spanish stock exchange operator. The deal would reportedly establish the third-largest financial market infrastructure group in… Read More

November 19, 2019 @ 7:18 am By Omar Faridi  |  

Funding Xchange (FXE), a company that helps people and organizations find suitable business loans and funding options from its marketplace of more than 45 established lenders, has raised £8 million (appr. $10.4 million) through an investment round. FXE’s decisioning platform is used by UK-based Monzo, a… Read More

November 18, 2019 @ 5:59 pm By Omar Faridi  |  

Peer-to-peer (P2P) bitcoin exchange LocalBitcoins has registered with the Finnish Financial Supervisory Authority, FIN-FSA, the financial regulatory authority of the Finnish government. Earlier this month, Crowdfund Insider reported that five different virtual asset service providers (VASPs) had been approved and LocalBitcoins was in the mix… Read More

November 18, 2019 @ 2:34 pm By Omar Faridi  |  

In order to encourage the development of innovative solutions while supporting financial inclusion, banks and world governments are expected to increasingly adopt Fintech-based solutions next year. This, according to a recent report from Ecosystm, a “disruptive” technology research and advisory service. The report, titled “Ecosystm… Read More

November 18, 2019 @ 11:30 am By Omar Faridi  |  

South Africa’s financial regulator, the Financial Sector Conduct Authority (FSCA), has issued a warning against Karatbars International GmbH, a German company that has been promoting a digital currency, called KaratGold Coin, which is allegedly backed by gold. According to FSCA’s release: “Karatbars International GmbH is… Read More

November 18, 2019 @ 9:34 am By Omar Faridi  |  

Switzerland-based Nestlé, a food and drink processing conglomerate, has teamed up with Carrefour, a French multinational retailer, in order to “apply blockchain technology to infant nutrition for the first time.” According to a recent press release: “After being the first to apply blockchain technology to… Read More

November 18, 2019 @ 8:38 am By Omar Faridi  |  

According to a new report, US-based venture capital firms have been increasingly investing in London-headquartered companies this year. New data shows that UK-based Fintech firms continue to attract a large number of investors. US investors have reportedly contributed around in $4.4 billion (appr. £3.4 billion)… Read More

November 18, 2019 @ 7:30 am By Omar Faridi  |  

The number of Bitcoin ATMs installed globally has now hit a new milestone by exceeding 6,000 machines. According to CoinATMRadar, which tracks the number of Bitcoin ATMs worldwide, there are currently 6,003 cryptocurrency ATM machines installed globally. The majority, or more than 65%, of these… Read More

November 18, 2019 @ 7:23 am By Omar Faridi  |  

HSBC has been focusing on improving its digital banking platform in order to attract more tech-savvy clients, as the giant financial institution continues to face competition from Fintech firms and new payment services companies. There are reportedly eight new virtual banks that are expected to… Read More

November 17, 2019 @ 11:33 pm By Omar Faridi  |  

Cashless or digital payments have become increasingly popular, however, cash still remains a widely-used payment method in most nations, especially in rural communities and jurisdictions with a large unbanked population. Following many years of steady growth, the total number of cash withdrawals made via ATMs… Read More

November 17, 2019 @ 9:00 pm By Omar Faridi  |  

We recently caught up with Dr. Lesley Czuma, director of sales development and media relations at Insolar, a Swiss enterprise blockchain development firm that counts Microsoft, Oracle and AT Kearney amongst its business partners and clients. Czuma, who earned her Ph.D. in political science and… Read More

November 17, 2019 @ 2:50 pm By Omar Faridi  |  

Cashaa, a cryptocurrency-friendly banking service provider, recently revealed that it’s introducing US dollar bank accounts for companies dealing in digital currencies. The new accounts are being offered through a partnership with Metropolitan Commercial Bank. Beginning on November 25, 2019, crypto-asset dealers and other high-risk business… Read More

November 17, 2019 @ 2:42 pm By Omar Faridi  |  

Switzerland-based Avaloq, a company that offers a standardized Business Process as a Service (BPaaS) or Software as a Service (SaaS) model to financial institutions and wealth management platforms, revealed recently that it has finalized its acquisition of Derivative Partners, which was first announced in July… Read More

November 16, 2019 @ 12:44 pm By Omar Faridi  |  

A Nestle grocery store based in Spain has introduced a facial recognition payment system designed by CaixaBank and the institution’s Payment Innovation Hub alliance. Samsung, Global Payments, Visa, and Arval are members of the alliance. Nestle’s Face to Pay Market application can be downloaded from… Read More

November 16, 2019 @ 11:14 am By Omar Faridi  |  

Payment software firm Bill.com is planning to raise $100 million through an initial public offering (IPO), according to a recent filing with the US Securities and Exchange Commission (SEC). Established in 2006 by PayCycle co-founder René Lacerte, Bill.com provides cloud-based business payments and offers a… Read More

November 16, 2019 @ 9:09 am By Omar Faridi  |  

Brian Kerr, co-founder and CEO at San Francisco-based Kava Labs, a venture-backed firm working on improving payments systems by leveraging blockchain technology, recently shared his views and insights with Crowdfund Insider. Kerr, a business administration and marketing graduate from San Francisco State University,  explained how… Read More

November 16, 2019 @ 8:48 am By Omar Faridi  |  

The US government will reportedly be enforcing a rule which requires companies dealing in cryptocurrencies, including digital asset wallet providers and exchanges, to share details about their clients. This, according to Kenneth Blanco, director of the Financial Crimes Enforcement Network (FinCEN). The “travel rule” for… Read More

November 16, 2019 @ 8:34 am By Omar Faridi  |  

Pakistan’s leading energy company, Byco Petroleum Pakistan Ltd, has teamed up with Bank Alfalah, one of the nation’s largest financial institutions, in order to introduce digital payments across Byco’s nationwide network of retail locations. Bank Alfalah has supported the OneQR concept. The bank will now… Read More