September 14, 2024 @ 4:56 pm By Tony Zerucha  |  

This week, London-based investment firm Outward VC announced the first closing, at £51 million, of its Fund II. The fund received a £30 million investment from the British Business Bank, which is deploying capital through its Enterprise Capital Funds program. Several private investors also participated…. Read More

September 14, 2024 @ 4:48 pm By Tony Zerucha  |  

This week, SoFi (NASDAQ:SOFI) subsidiary Galileo Financial Technologies unveiled Galileo Instant Verification Engine (GIVE) and Transaction Risk GScore, its two newest fraud-fighting tools. As digital transactions surge and cyber threats evolve, these tools offer fintechs, financial institutions and businesses advanced real-time fraud detection and risk… Read More

September 14, 2024 @ 5:25 am By Tony Zerucha  |  

Polly, a provider of mortgage capital markets technology, this week announced $25 million in new growth equity capital. The raise was led by 8VC, with participation from existing investors including Menlo Ventures, Meritech, Khosla Ventures, and Fifth Wall. The funds are earmarked for research, development,… Read More

September 8, 2024 @ 6:56 pm By Tony Zerucha  |  

Results of a recent J.D. Power survey suggest consumers are growing more comfortable with artificial intelligence in financial services, but the concept isn’t over the hump just yet. J.D. Power surveyed more than 2,000 financial services customers in the United States about their utilization and… Read More

September 8, 2024 @ 6:37 pm By Tony Zerucha  |  

SMB lending fraud has increased by a double-digit percentage year over year, with most lenders expecting fraud levels to increase in the coming months. This is one finding in the LexisNexis Risk Solutions Small and Midsize Business Lending Fraud Study. More than 80% of respondents… Read More

September 8, 2024 @ 7:00 am By Tony Zerucha  |  

More than 170 experts selected 41 international startups for the 11-week Kickstart Innovation program in Switzerland. The cohort gains access to decision-makers and stakeholders, and can now test and scale their business models and close deals. The finalists come from nine countries, with a strong… Read More

September 7, 2024 @ 11:39 am By Tony Zerucha  |  

New research from data enrichment and payment services platform Tink suggests that consumers in the United Kingdom who use digital financial management tools are better off. They average an additional £37.08 better off per month, or £4451 better off per year, compared to pre-adoption. Today, as… Read More

September 7, 2024 @ 10:53 am By Tony Zerucha  |  

Digital security firm security.org recently released its top 17 scams for 2024, and P2P payment apps top the list. The full text can be viewed here. Security.org surveyed nearly 1,100 American adults about their recent experiences with cybercriminals and the latest online schemes. They found… Read More

September 7, 2024 @ 10:50 am By Tony Zerucha  |  

Flutterwave, an African payments technology company, recently announced that its online merchants in Nigeria can now accept American Express payments. American Express Card Members – with consumer, business, or corporate cards – can make payments directly to e-commerce businesses using Flutterwave in Nigeria. This service… Read More

September 7, 2024 @ 8:30 am By Tony Zerucha  |  

DriveWealth, a financial technology platform providing Brokerage-as-a-Service, has hired Venu Palaparthi as its chief operating officer. Palaparthi will oversee DriveWealth’s risk and compliance functions, and contribute to the company’s ongoing international expansion. He begins on Sept. 16, reporting to CEO Michael Blaugrund. “We have thoughtfully… Read More

September 7, 2024 @ 6:31 am By Tony Zerucha  |  

Chargeback technology platform Chargebacks911 recently announced the appointment of payments industry entrepreneur Oliver Rajic to the board of directors. In his new role, Rajic will serve as a key advisor to Chargebacks911 and its CEO, Monica Eaton. This includes assisting the company with its expansion… Read More

September 7, 2024 @ 3:59 am By Tony Zerucha  |  

Flutterwave, an African leading payments technology company, has appointed Mitesh Popat as CFO. Popat brings 20 years of global financial services experience across North America, Europe, the Middle East, and Africa, which Flutterwave said will be instrumental in driving its next phase of growth and… Read More

August 25, 2024 @ 6:00 pm By Tony Zerucha  |  

While the Consumer Financial Protection Bureau’s (CFPB) recent interpretive rule on earned wage access (EWA) products has generated plenty of interest, Jason Lee believes history will view it as a small, but inevitable step towards its logical conclusion – zero-fee products. Lee is the founder… Read More

August 21, 2024 @ 10:16 am By Tony Zerucha  |  

Last week, Abrigo, a provider of financial crime prevention and risk management solutions for U.S. financial institutions, today announced survey results revealing how Americans feel about financial fraud, their fears about AI’s impact on fraud, and some enduring misconceptions. The vast majority of Americans (90%) are… Read More

August 20, 2024 @ 10:41 pm By Tony Zerucha  |  

SentBe is preparing to launch its individual small-scale overseas remittance service globally. The move follows the launch of SentBiz KRW Collection for businesses needing Korean Won collection and multi-currency settlements within the Korean market. Targeting those who need to send money outside of their country,… Read More

August 20, 2024 @ 4:42 am By Tony Zerucha  |  

The United States Federal Reserve must go big with a supersized 50-basis-point interest rate cut in September to get ahead of a looming economic storm, advises deVere Group founder and CEO Nigel Green. The warning comes as consumer prices in the US inched up modestly… Read More

August 19, 2024 @ 7:16 am By Tony Zerucha  |  

This past week, Chaos Labs, an on-chain risk management provider, announced a $55 million Series A funding round led by Haun Ventures. The funding round attracted F-Prime Capital, Slow Ventures and Spartan Capital. They join Lightspeed Venture Partners, Galaxy Ventures, Wintermute Ventures, PayPal Ventures, General… Read More

August 18, 2024 @ 6:11 pm By Tony Zerucha  |  

Small business owners are, on average, 42% overconfident in their money management, according to a new survey of more than 750 SMBs by online banking and money management platform Relay and independent research company RKI. This overconfidence score reflects a significant gap between the perception… Read More

August 18, 2024 @ 4:52 pm By Tony Zerucha  |  

This week, Q2 Holdings, a provider of digital transformation solutions for financial services, announced the release of a new Harris Poll consumer report, The Personal Bank: Delivering personalized experiences across generations. The report reveals that consumers across generations have similar perspectives, behaviors, and preferences about banking…. Read More

August 18, 2024 @ 7:11 am By Tony Zerucha  |  

Fears of a bursting AI bubble are overblown, deVere Group founder and CEO Nigel Green believes. Speculation grew following last week’s market turbulence, but Green feels that is premature. “Fear mongers are pointing to the sharp declines in the stock prices of leading AI companies… Read More