July 23, 2023 @ 10:19 pm By JD Alois  |  

Nova Money is another artificial intelligence (AI) firm that has entered the financial services sector. The company is offering a service that leverages AI to forecast an individual’s future financial situation to help people make better decisions. The company also plans to raise capital online… Read More

July 23, 2023 @ 6:19 pm By JD Alois  |  

Israeli cyber defense firm Perception Point recently uncovered a plot that scammed over $55 million from Mexican individuals. Perception Point is also an OurCrowd portfolio company that has raised capital four times on the platform starting in 2019 with the last funding round finished in… Read More

July 22, 2023 @ 4:42 pm By JD Alois  |  

One of the largest securities crowdfunding platforms in the US continues to move the ball down the field in a self-crowdfunding round. It was reported in May that StartEngine had raised $14 million. Today that amount is well over $16 million. Almost 9000 investors have… Read More

July 21, 2023 @ 6:25 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed charges against the issuer of DWE and BPC alleging the issuance of unregistered securities.  The SEC claims that  Alexander Elbanna and his affiliated entities have committed fraud. According to the SEC, between February 2018 and April 2021,… Read More

July 21, 2023 @ 4:23 pm By JD Alois  |  

Apple (NASDAQ:AAPL), one of the largest Fintechs in the world, is gaining traction with its new Buy Now Pay Later (BNPL) product. Released this past March but announced months prior, Apple says that Apple Pay Later wants to support its users financial health. The credit… Read More

July 21, 2023 @ 11:43 am By JD Alois  |  

US Fintech funding increased by 42% during the first half of 2023 when compared to the last half of 2022, according to a report. Fintech funding hit $12.8 billion from January to February 2023 but still down by 33% when compared to the same period… Read More

July 21, 2023 @ 11:29 am By JD Alois  |  

The Digital World Acquisition Corporation (NASDAQ:DWAC), a special purpose acquisition company (SPAC) has been charged with material misrepresentations by the Securities and Exchange Commission (SEC). DWAC has agreed to a cease-and-desist order and to pay an $18 million penalty in the event it closes a… Read More

July 21, 2023 @ 10:21 am By JD Alois  |  

The Subcommittee on Digital Assets, Financial Technology and Inclusion, part of the House Financial Services Committee, and the Subcommittee on Commodity Markets, Digital Assets, and Rural Development, part of the House Agriculture Committee, have revealed the Financial Innovation and Technology for the 21st Century Act… Read More

July 20, 2023 @ 5:37 pm By JD Alois  |  

Puerto Rico is unique in the fact it is part of the United States yet residence do not pay any federal taxes. It is part of the concept of taxation without representation and Puerto Rico does not have any voting members in Congress. This fact,… Read More

July 20, 2023 @ 1:44 pm By JD Alois  |  

Nigel Farage, a political leader in the UK who was a staunch supporter of Brexit, recently had his account canceled by Coutts, part of Natwest – ostensibly because his balance went below their minimum threshold. Following the loss of his account, Farage lambasted the bank… Read More

July 20, 2023 @ 11:41 am By JD Alois  |  

FedNow went live today. FedNow is a payments and transfers service provided by the US Federal Reserve. Approved financial institutions may use the service to enable immediate payments and transfers. Currently, there are 35 approved institutions out of around 9000 banks and credit unions in… Read More

July 20, 2023 @ 11:27 am By JD Alois  |  

FedNow, an instantaneous payments and transfer service brought to you by the US Federal Reserve, is now live. FedNow is available 24/7/365 for approved institutions. According to a statement by the Fed, 35 banks and credit unions, along with the U.S. Department of the Treasury’s… Read More

July 20, 2023 @ 11:09 am By JD Alois  |  

Rnwl, an Insurtech that claims to be building the insurance platform of the future, has closed its most recent funding round on Seedrs. Initially targeting a raise of £150,000, Rnwl closed at almost double that amount raising £295,754 from 394 individual investors. Rnwl raised equity… Read More

July 19, 2023 @ 3:15 pm By JD Alois  |  

In September 2022, Nasdaq announced a new Nasdaq Digital Assets division that would provide a custody solution, subject to regulatory approval. According to reports, Nasdaq has decided to abandon its push into crypto custody to focus on other initiatives – like its move into Regtech… Read More

July 19, 2023 @ 2:44 pm By JD Alois  |  

European tokenization platform Tokeny has announced that it has partnered with Dfns to offer an “all in one tokenization platform.” Dfns is a cybersecurity firm enabling crypto wallet infrastructure, offering a wallet as a service product. Dfns offers an API-first key management solution (KMS) to provide… Read More

July 19, 2023 @ 11:31 am By JD Alois  |  

New legislation has been submitted by Senator Jack Reed, co-sponsored by Senators Mark Warner,  Mike Rounds, and  Mitt Romney. The Crypto Council for Innovation has slammed the legislation as “arbitrary and ill-defined.” The bill (S.2355) is described as “a bill to clarify the applicability of… Read More

July 19, 2023 @ 10:26 am By JD Alois  |  

TP24, a Fintech that offers SMEs revolving loans from £250,000 to £5,000,000, reports that it has raised £345 million in debt funding from Barclays Bank and M&G Investments. TP24 says that £240 million of the funding will be used for lending to SMEs in the… Read More

July 19, 2023 @ 9:29 am By JD Alois  |  

Temenos (SIX: TEMN), a banking as a service provider, has been certified for FedNow, according to a statement from the company. FedNow is a new transfer service providing instant movement of funds, provided by the US Federal Reserve. The FedNow Service will be available to… Read More

July 19, 2023 @ 9:09 am By JD Alois  |  

European digital bank bunq has now topped 9 million users, holding €4.5 billion in user deposits. Bunq reported that it grew its user base from 5.4 million to over 9 million in a bit longer than one year. In the last four months, Bunq has… Read More

July 19, 2023 @ 9:00 am By JD Alois  |  

Christian Faes, co-founder and former CEO of publicly traded Fintech LendInvest, has launched a new venture. Faes has announced F2 Finance, a Fintech entering the “Fix and Flip” marketplace in the US. The company is sizing up a market at $68 billion, starting with several… Read More