General News

July 16, 2021 @ 7:51 pm By Omar Faridi  |  

Aptys Solutions, an established provider of Cloud-powered, end-to-end, virtual payment services to more than 4,500 financial institutions (including quicker payments, mobile P2P, wire, ACH, and inclearing), reveals that Alloya Corporate Federal Credit Union, a major corporate credit union serving 1,400+ credit unions, has converted to… Read More

July 16, 2021 @ 7:17 pm By JD Alois  |  

  France, not always at the top of mind when it comes to innovative tech firms, is gaining traction when it comes to VC funding of innovative young firms. According to research by Avolta Partners, a boutique investment bank, there are now 17 unicorns in… Read More

July 16, 2021 @ 2:49 pm By Omar Faridi  |  

Hong Kong’s digital technology park Cyberport confirms that it has invested HKD 14.87 million (appr. $1.92 million) into the operations of four of the startups in its network. The companies include Lynk, Rice Robotics, Dash Living and Hex Trust. These investments have been made during… Read More

July 16, 2021 @ 11:31 am By JD Alois  |  

Asset management apps or investment apps, like Robinhood or Coinbase, are rising in popularity according to a research report. Apps the enable crypto trading, more traditional stock investments, FOREX and more are seeing increased utilization states Sensor Tower. These types of apps grew 198% during… Read More

July 16, 2021 @ 11:19 am By Omar Faridi  |  

The Depository Trust & Clearing Corporation (DTCC), the market infrastructure for the global financial services sector, reveals that it’s teaming up with Ebix, Inc. (NASDAQ: EBIX), an established international supplier of on-demand software and digital commerce services, in order to provide an automated annuity compliance… Read More

July 15, 2021 @ 7:50 pm By Omar Faridi  |  

The Reserve Bank of India (RBI) revealed on Wednesday (July 14, 2021) that it has decided to indefinitely ban Mastercard Inc (NYSE: MA) from providing any new debit or credit cards to local clients for allegedly violating data storage guidelines. This move appears to be… Read More

July 15, 2021 @ 3:03 pm By Tony Zerucha  |  

As consumers begin to emerge from their pandemic cocoons, they better closely manage their spending to avoid falling into a credit crunch, Canadian fintech Borrowell said. The company said the potential surge in “revenge spending” could hurt consumer credit scores if they become overly reliant… Read More

July 15, 2021 @ 10:42 am By JD Alois  |  

The Dutch Alternative Credit Instrument (DACI) is poised to provide access to capital for SMEs in the Netherlands. According to a post by the European Investment Fund (EIF), DACI is being launched by the Dutch National Promotional Bank Invest-NL and the Ministry of Economic Affairs… Read More

July 15, 2021 @ 7:56 am By Omar Faridi  |  

Nethone, which has raised $6.7 million in capital, notes that its passive behavioral biometrics enables online or digital businesses to prevent more than 95% of account takeovers (ATO) – which are cyber threats or attacks that have been spreading across the globe at an alarming… Read More

July 14, 2021 @ 5:02 pm By Tony Zerucha  |  

Failed payments cost the global economy $118.5 billion in fees, labor, and lost business in 2020, a study from Accuity shows. That breaks down to $41.1 billion in EMEA, $33.7 billion in the Americas and $43.7 billion in Asia-Pacific (APAC). The average bank spent $360,000 on failed payments while the average corporate firm… Read More

July 14, 2021 @ 9:59 am By JD Alois  |  

The Cambridge Centre for Alternative Finance (CCAF) has launched its next survey on the Fintech industry. According to CCAF, the research entity has kicked off the Global COVID-19 #Fintech Market and Industry Resilience Study. More recently, CCAF published its Global Alternative Finance Benchmarking Report outlining… Read More

July 14, 2021 @ 8:04 am By Omar Faridi  |  

Norway’s software firm Commercial Banking Applications (CBA) reveals that it has released the latest annual version of its IBAS GBF – Global Banking Factory software to all clients. Notably,  the release has come more than three months ahead of schedule, which should allow for more… Read More

July 14, 2021 @ 1:42 am By Omar Faridi  |  

James Butterfill, Investment Strategist at London-based CoinShares, a digital asset manager focused on expanding access to the cryptocurrency ecosystem while serving as a “trusted partner” for its clients, notes in a blog post published on Monday (July 12) that for the week ending July 12,… Read More

July 13, 2021 @ 10:26 pm By Tony Zerucha  |  

The COVID-19 pandemic helped drive further growth in India’s e-commerce sector, new research from GlobalData shows. According to the firm’s E-Commerce Analytics, e-commerce payments in the country grew by 12.2 percent in 2020 and should reach $61.5 billion this year. Between now and 2025 sales… Read More

July 13, 2021 @ 10:21 pm By Tony Zerucha  |  

Brexit has done little to shift UK consumer spending back home, the latest two chapters of emerchantpay’s New World, One Market Report shows. The study, which surveyed more than 2,000 British consumers, analyzes consumer behavior as some societies begin their emergence from the pandemic. When… Read More

July 13, 2021 @ 2:30 pm By Omar Faridi  |  

The team at the Bitcoin Mercantile Exchange (BitMEX), a major cryptocurrency derivatives exchange whose senior management including its ex- CEO Arthur Hayes are facing criminal charges including large-scale money laundering, notes that they are pleased to announce that their Open Source Developer Grant program will… Read More

July 13, 2021 @ 8:16 am By JD Alois  |  

Goldman Sachs (NYSE:GS) has posted Q2 earnings that have topped expectations. Goldman CEO and Chairman David M. Solomon issued the following statement: “Our second-quarter performance and record revenues for the first half of the year demonstrate the strength of our client franchise and our continued… Read More

July 12, 2021 @ 11:22 pm By Omar Faridi  |  

The European Securities and Markets Authority (ESMA), the European Union’s securities markets regulator, has reportedly fined DTCC Derivatives Repository Plc (DDRL) a total of €408,000 for seven infringements of the European Market Infrastructure Regulation (EMIR). The violations are related to (or involve) data confidentiality, data… Read More

July 12, 2021 @ 9:35 pm By Omar Faridi  |  

Australia’s first neobank Volt has reportedly acquired neo-lending platform Australian Mortgage, enabling it to provide “fully-verified” approval times of less than 15 minutes on its new digital mortgage product. As mentioned in a release shared with CI: “This is a material improvement compared to many… Read More

July 12, 2021 @ 1:21 pm By Omar Faridi  |  

BNP Paribas Securities Services’ ESG marketplace, Manaos, has confirmed the onboarding of new partners – Util and V.E, which is part of Moody’s ESG Solutions – in order to enhance its sustainability data and analytics product offering. Manaos, which is described as an open-servicing platform… Read More