October 6, 2019 @ 9:49 pm By JD Alois  |  

HSBC is planning to cut a whopping 10,000 jobs. HSBC currently employs approximately 238,000 individuals. The new job reductions are in addition to a previously announced 4700 headcount cut. In a report by the FT from earlier today, it was claimed that interim CEO Noel… Read More

October 6, 2019 @ 1:52 pm By JD Alois  |  

The Commodity Futures Trading Commission (CFTC) held the 4th meeting of the Technology Advisory Committee (TAC) this past week, sponsored by CFTC Commissioner Brian Quintez. Several of the topics included hot areas of Fintech such as the utilization of distributed ledger technology (DLT/ Blockchain) in… Read More

October 5, 2019 @ 6:38 pm By JD Alois  |  

Lenmo, an alternative lender that is a marketplace for investors to fund loans all on an App, is raising up to $3 million on SeedInvest. Lenmo is a small-dollar lender that will provide credit when banks say no as it will accept subprime borrowers –… Read More

October 4, 2019 @ 2:14 pm By JD Alois  |  

CreditSpring, an interesting twist on consumer credit, is crowdfunding on Seedrs now and has now topped its initial £1.5 million goal. CreditSpring is a membership loan platform. You join for a fee and then get access to credit during the year, when you need it…. Read More

October 4, 2019 @ 1:52 pm By JD Alois  |  

Republic launched its Note token earlier this year. In July, Republic shared that over 3 million of the digital assets have been distributed since it was revealed. This week, Republic revealed more “rewards” affiliated with Note as well as more ways to earn the token…. Read More

October 4, 2019 @ 12:56 pm By JD Alois  |  

SupraFin has signed a strategic agreement with TribulusTech which includes an equity investment and a deal to partner on software development. SupraFin is a Wealthech platform for digital assets. SupraFin was founded by Liliana Reasor who spent 20+ years as an executive at JP Morgan,… Read More

October 4, 2019 @ 11:47 am By JD Alois  |  

Slice Labs, an “on-demand Insurtech, has partnered with Duuo, another on-demand insurance brand to provide” Event and Rent-My-Stuff insurance offerings.” Duuo is part of the Co-operators Group Limited, a Canadian co-operative with more than $41.7 billion in assets under administration. Duuo is using the “Slice… Read More

October 4, 2019 @ 10:31 am By JD Alois  |  

The Commodity Futures Trading Commission (CFTC) will host Fintech Forward 2019: Exploring the Unwritten Future. This will be the CFTC’s second annual Fintech conference where regulators and the public may interact and engage in the hot topics of innovations in financial services. Fintech Forward will… Read More

October 3, 2019 @ 9:42 pm By JD Alois  |  

Tim Cook, CEO of Apple, told French business newspaper Les Echos that Apple (NASDAQ:AAPL) has no interest in creating a cryptocurrency similar to Facebook. Cook blessed the front page of Les Echos October 4th print version with the headline “Apple est le premier contribuable mondial.”… Read More

October 3, 2019 @ 12:48 pm By JD Alois  |  

Backed by big-name investors like Max Levchin and Peter Thiel, Brex is another Fintech that qualifies as a stealth bank as it is providing banking services but is not really a bank.  This week, Brex announced, “Brex Cash”  a business bank account feature that is… Read More

October 3, 2019 @ 12:09 pm By JD Alois  |  

One by one, the big online brokers have fallen into line to eliminate commission on US stocks, ETFs and options trading. Yesterday, after TD Ameritrade and Charles Schwab announced zero commission, E*Trade (NASDAQ: ETFC) did the same. Today, shares in E*Trade have changed little as… Read More

October 3, 2019 @ 10:14 am By JD Alois  |  

Reflecting the same name as a speech delivered by current Bank of England Governor Mark Carney, the BoE has scheduled a Fintech Webinar on New Economy, New Finance, New Bank. The webinar will take place next Wednesday, October 9th. According to the registration page, the… Read More

October 3, 2019 @ 9:07 am By JD Alois  |  

Leading European marketplace lending platform October has joined with 5 Confidi entities belonging to Federconfidi and Rete Fidi Italia and with the European Investment Fund (EIF), to launch a €30 million fund to back Italian SMEs. Confidi are cooperative, non-profit guarantee consortia that facilitate access… Read More

October 2, 2019 @ 11:57 pm By JD Alois  |  

This week, the Saudi Capital Market Authority (CMA) approved multiple “Financial Technology Experimental Permits.” The regulator granted the permits to: Buthoor Solidarity, Afaq and Emkan Alarabiya. Each company received permission to create an equity crowdfunding platform. The permission was given by Royal Decree No. (M/30)… Read More

October 2, 2019 @ 7:00 pm By JD Alois  |  

The Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS) have revealed the 40 finalists have been shortlisted for the Fintech Awards to be presented at this year’s Singapore FinTech Festival x Singapore Week of Innovation and Technology (SFF x SWITCH)…. Read More

October 2, 2019 @ 5:34 pm By JD Alois  |  

It has been a big week for enforcement actions at the Securities and Exchange Commission (SEC). Beyond the routine fraud cases, the SEC Division of Enforcement has announced settlements with several high profile initial coin offerings (ICO). Today, the Plexcoin ICO landed squarely in the… Read More

October 2, 2019 @ 3:31 pm By JD Alois  |  

The Alberta Securities Commission (ASC) has adopted a “Blanket Order” for Startup Crowdfunding Registration and Prospectus Exemptions. The new rule is described as removing “unnecessary barriers to financing, and better facilitate access to capital for start-ups and other small businesses.” The ASC states that both… Read More

October 2, 2019 @ 2:38 pm By JD Alois  |  

Earlier this week it was announced by the Securities and Exchange Commission (SEC) that it had settled with Block.one, creator of EOS, regarding allegations of issuing unregistered securities during an initial coin offering (ICO) that raised a record-breaking $4 billion. The fine assessed by the… Read More

October 2, 2019 @ 2:17 pm By JD Alois  |  

The Commodity Futures Trading Commission (CFTC) Technology Advisory Committee (TAC) will hold a meeting tomorrow (Thursday), October 3 to discuss a series of topics that impact digital assets. CFTC Commissioner Brian Quintenz is the sponsor of TAC. During the very first panel, TAC will discuss… Read More

October 2, 2019 @ 10:27 am By JD Alois  |  

It has been widely reported that the founding members of the Libra Association, Facebook’s stablecoin initiative, have scheduled a meeting to take place in Geneva, Switzerland on October 14th. As the crypto advocates gather, one has to wonder what is on the agenda. First reported… Read More