May 8, 2024 @ 11:21 am By JD Alois  |  

The Securities and Exchange Commission (SEC), Investor Advisory Committee (IAC), has scheduled a meeting for June 6th. Topics include artificial intelligence (AI) and the ongoing discussion of investment advice. Regarding investment advice, the Committee worries that younger investors are receiving guidance from “non-traditional ways,” including… Read More

May 8, 2024 @ 11:04 am By JD Alois  |  

Nonprofit Fintech Sandbox has received a grant of $150,000 from Global Atlantic Financial Group. Fintech Sandbox provides early-stage Fintech startups around the world with free access to datasets and infrastructure through its Data Access Residency. Global Atlantic said their support for Fintech Sandbox is because… Read More

May 8, 2024 @ 10:24 am By JD Alois  |  

Singapore and the United Kingdom have enhanced their existing relationship in regard to Fintech development and utilization. The UK is the top western Fintech hub and Singapore represents the most robust Fintech center in Asia. The initiative was led by HM Treasury and the Monetary… Read More

May 8, 2024 @ 10:05 am By JD Alois  |  

Tether, the issuer of the top stablecoin USDT, says it has committed more money to Georgia-based Fintech CityPay.io. Tether did not provide further details on the investment, only noting that it was an “additional investment.” CityPay is said to be active across 600 locations in… Read More

May 8, 2024 @ 9:47 am By JD Alois  |  

Panax, a cash management platform powered by AI [artificial intelligence] and Open Banking, has raised $10 million in Series A funding. To date, Panax has raised $15 million. Panax targets mid-market and large firms with complex treasury demands. The service enables the management of numerous… Read More

May 7, 2024 @ 7:46 pm By JD Alois  |  

Fintech Banked and National Australia Bank (NAB) are partnering on a payments solution. The collaboration follows NAB’s VC arm’s participation in Banked’s Series A funding round, which saw NAB contribute $15 million to the firm. The partnership will enable Australian merchants to integrate account-to-account (A2A)… Read More

May 7, 2024 @ 7:07 pm By JD Alois  |  

Following the release of an independent review of activity at the Federal Deposit Insurance Corporation (FDIC) which sites misconduct and a toxic workplace, Congressman Patrick McHenry is calling on FDIC Chairman Martin Gruenberg to resign. McHenry is the Chairman of the House Financial Services Committee,… Read More

May 7, 2024 @ 3:27 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed charges against Curt Kramer and his wholly-owned businesses Power Up Lending Ltd., Geneva Roth Remark Holdings, Inc., and 1800 Diagonal Lending, LLC (formerly known as Sixth Street Lending LLC), for operating as unregistered securities dealers. According to… Read More

May 7, 2024 @ 12:35 pm By JD Alois  |  

Coinbase co-founder and CEO Brian Armstrong welcomed Robinhood (NASDAQ:HOOD) to the Wells Notice club. This past week, it was reported that Robinhood has received a Wells Notice from the Securities and Exchange Commission (SEC). A Wells Notice indicates that SEC staff is recommending an enforcement action by… Read More

May 7, 2024 @ 12:18 pm By JD Alois  |  

Wiz is reporting a $1 billion funding round that delivers a $12 billion valuation for the firm. In total, Wiz reports that it has raised $1.9 billion in funding. According to the company, the funding was led by big-name investors, including Andreessen Horowitz, Lightspeed Venture… Read More

May 7, 2024 @ 11:35 am By JD Alois  |  

Payments and transfers Fintech Mangopay has announced a new VP of Risk Product, Ariel Shoham. He is expected to lead the vision, strategy and roadmap for Identity and Fraud Protection at Mangopay. For decades, Shoham has been engaged in AML/KYC, Regtech, and anti-fraud efforts. He… Read More

May 7, 2024 @ 11:23 am By JD Alois  |  

British Business Investments says it has committed to £50 million in a private credit co-investment along with DunPort Capital Management. The funds will help create the co-investment vehicle, Alder Corporate Credit DAC. The funds will be used to support smaller firms in the UK with… Read More

May 6, 2024 @ 9:55 pm By JD Alois  |  

Zūm Rails and Fiserv have partnered on a service that aims to enable US businesses with everything they need to offer direct bank-like services, without relying on a bank or other third-party providers. Zūm Rails describes itself as a Fintech that is leveraging open banking… Read More

May 6, 2024 @ 2:24 pm By JD Alois  |  

After discussing the activity of the Regulation Crowdfunding (Reg CF) market, the Securities and Exchange Commission (SEC), Small Business Capital Formation Advisory Committee (SBCFAC), has decided to recommend raising the threshold for reviewed financials from $124,000 to $350,000. Currently, reviewed financials cost around $5000 to… Read More

May 6, 2024 @ 12:15 pm By JD Alois  |  

Grupo Bancolombia has launched “Wenia Ltd.” a new entity enabling crypto trading. According to a corporate statement, Wenia will provide digital asset services exclusively for Colombian residents through its platform. Clients will be able to trade various digital assets, including Wenia’s own COPW, a stablecoin… Read More

May 6, 2024 @ 11:50 am By JD Alois  |  

KeyBank (NYSE: KEY) is adding another Fintech service with the launch of KeyVAM, which is described as a “virtual account management solution for treasury management clients who have complex demand deposit account (DDA) structures.” This new cash management service is powered by Qolo, a card… Read More

May 6, 2024 @ 11:17 am By JD Alois  |  

A legal consultancy has published a report on the regulatory environment for Fintechs in the MENA region. While digital finance is the future of all financial services, the emergence and regulation of various services have differed worldwide.  KARM Legal Consultants has crafted a “Fintech Legal… Read More

May 6, 2024 @ 10:44 am By JD Alois  |  

The Securities and Exchange Commission (SEC) and Small Business Capital Formation Advisory Committee (SBCFAC) have finally issued their recommendation regarding the definition of Accredited Investors. This definition impacts the Reg D marketplace, an ecosystem that enabled around $3 trillion in funding in 2023. Just about… Read More

May 6, 2024 @ 9:52 am By JD Alois  |  

Previously known as Tech Coast Angels, NuFund is reporting its 100th investment. Angel groups tend to support startups in their infancy, shouldering great risk while backing promising young firms. While many of their investments will go belly up, Angel groups are a vital variable to… Read More

May 6, 2024 @ 9:14 am By JD Alois  |  

Robinhood (NASDAQ:HOOD), a new spin on a digital brokerage, has posted an 8-K indicating they are in receipt of a Wells Notice indicating an investigation by the Securities and Exchange Commission (SEC) may lead to a lawsuit by the Commission. According to the filing, Robinhood… Read More