General News

December 24, 2021 @ 8:48 am By Omar Faridi  |  

The UK’s Prudential Regulatory Authority (PRA) has imposed a financial penalty on Metro Bank plc “of £5,376,000 for failing to act with due skill, care and diligence in relation to the regulatory reporting of its capital position and for failings in its regulatory reporting governance,… Read More

December 23, 2021 @ 5:53 pm By JD Alois  |  

Talk to the hand. Marc Andreessen has blocked Jack Dorsey on Twitter, perhaps a first for Dorsey who shared the screenshot on the social network he founded.   I’m officially banned from web3 pic.twitter.com/RrEIAuqE6f — jack⚡️ (@jack) December 22, 2021 The virtual joust came about… Read More

December 23, 2021 @ 5:29 pm By Tony Zerucha  |  

Fraudsters are changing with the times, and Feedzai SVP of product management Andy Renshaw recently shared his thoughts on how they will behave in 2022. For starters, they’ll be more patient, Renshaw believes. Many online security measures are serving their purpose and eliminating the low-hanging… Read More

December 23, 2021 @ 8:11 am By Omar Faridi  |  

Nationwide clients had been left panicking after a recent Faster Payments outage at the building society only a few days before Christmas. After problems being reported on Tuesday (December 22, 2021), Nationwide confirmed that the “technical issue” had now been resolved and that “all delayed… Read More

December 22, 2021 @ 10:20 pm By Tony Zerucha  |  

2022 could see aggressive movement by some federal agencies, an experienced industry hand suggests. Joseph Lynyak III is a partner at the international law firm Dorsey & Whitney and one of the nation’s foremost experts in the country on the Consumer Financial Protection Bureau (CFPB),… Read More

December 22, 2021 @ 2:03 pm By Tony Zerucha  |  

Super apps, openness in customer data ownership, and Generation Hashtag will be key topics in fintech in 2022, according to GlobalData’s Tech, Media, & Telecom (TMT) Predictions 2022. GlobalData thematic analyst Amrit Dhami said while mobile commerce is leading to the development of super apps… Read More

December 21, 2021 @ 11:02 am By JD Alois  |  

Earlier this week, the Securities and Exchange Commission hit JPMorgan (NYSE:JPM) with a $125 million penalty. JP Morgan Securities, a subsidiary of JP Morgan, was fined for “widespread and longstanding failures by the firm and its employees to maintain and preserve written communications,” said the… Read More

December 20, 2021 @ 11:41 pm By Omar Faridi  |  

The European Central Bank (ECB) has published an action plan to address the recommendations of an independent review “mandated by the ECB’s Governing Council in November 2020, following the five major incidents that affected TARGET2 and TARGET2 Securities in 2020.” The update from the ECB… Read More

December 20, 2021 @ 10:23 pm By JD Alois  |  

Open Banking Europe (OBE) reports that it has extended its memorandum of understanding (MOU) with the European Telecommunications Standards Institute (ETSI) for three more years. OBE provides standardised solutions while working with stakeholders to facilitate a greater understanding of open banking and enable collaboration between… Read More

December 19, 2021 @ 10:58 pm By Omar Faridi  |  

The British Business Bank has announced an increase to business lender Simply’s ENABLE Funding facility. In total, the facility will reportedly offer £300 million of funding to SMEs across the United Kingdom. This is notably the largest facility under the British Business Bank’s ENABLE Funding… Read More

December 19, 2021 @ 9:50 pm By Omar Faridi  |  

Marieke Flament, the Chief Executive at NatWest’s virtual bank for businesses, is reportedly getting ready to leave her role after two and a half years. Flament will be joining Switzerland-headquartered blockchain foundation NEAR as the CEO, she confirmed in statements shared with Reuters. The non-profit… Read More

December 19, 2021 @ 2:30 pm By Omar Faridi  |  

Binance Labs, the venture capital and innovation incubation division of Binance, has reportedly invested in the League of Kingdoms (LoK), which claims to be the world’s first decentralized MMO NFT strategy game built on Ethereum (ETH). In LoK, players are able to build various kingdoms… Read More

December 15, 2021 @ 10:12 pm By Omar Faridi  |  

Mercado Libre, a tech company and one of the largest digital commerce firms in Latin America, confirms the acquisition of Redelcom, a Chilean firm that has been operating since 2010 as a payment services provider and in October 2019 started providing point-of-sale (POS) terminals with… Read More

December 15, 2021 @ 9:30 am By Omar Faridi  |  

The NBA’s Golden State Warriors and FTX US have announced a new and “first-of-its-kind” cryptocurrency partnership in professional sports. As the Warriors’ Official Cryptocurrency Platform and NFT Marketplace, the franchise will “drop NFTs on FTX.us, beginning in early 2022.” As mentioned in an update shared… Read More

December 14, 2021 @ 5:16 pm By Tony Zerucha  |  

European VC firm Sapphire Ventures will significantly expand its European investment activities over the coming year, the company said this week. As part of this expansion, which follows the opening of the firm’s first European office last year, Sapphire promoted Annalise Dragic, currently a principal,… Read More

December 14, 2021 @ 8:21 am By Omar Faridi  |  

Deel has announced the addition of USDC and Solana as withdrawal currencies via Coinbase (COIN: Nasdaq). Deel first teamed up with Coinbase in November 2020 to “enable users to withdraw their paychecks in cryptocurrency,” according to an update shared with Crowdfund Insider. Deel currently supports five… Read More

December 14, 2021 @ 12:55 am By Omar Faridi  |  

The Pret Foundation has teamed up with Contactless Giving Week this December in order to raise awareness and support cashless fundraising for their ongoing work towards breaking the cycle of homelessness. Earlier in 2021, more than 40 Pret shops had been fitted with GoodBox contactless… Read More

December 13, 2021 @ 10:12 am By Omar Faridi  |  

MX, the financial data platform that claims to be a leader in modern connectivity, has announced that First Foundation Bank (NASDAQ: FFWM) has now gone live on the MXmobile platform for mobile banking, “staying true to First Foundation Bank’s digital strategy of delivering modern, engaging… Read More

December 12, 2021 @ 7:17 pm By Omar Faridi  |  

Only a week after firing 900 workers via a Zoom conference call, Vishal Garg has decided that he’ll be “taking time off effective immediately” from his role as company CEO of digital mortgage platform, Better.com. In an email sent to employees, reviewed by Vice, the… Read More

December 12, 2021 @ 5:00 pm By JD Alois  |  

Laurel Road, a digital banking platform and a subsidiary of KeyBank, says that younger people are stressed about their finances, something that should come as no surprise as inflation goes through the roof and the federal government is on a spending spree. In a survey… Read More