General News

November 13, 2020 @ 6:26 pm By JD Alois  |  

The North American Securities Administrators Association (NASAA) distributed a comment letter today outlining its opposition to the proposal by the Securities and Exchange Commission’s move to clarify the role of Finders. A Finder is an individual that finds investors for smaller firms. A lack of… Read More

November 13, 2020 @ 5:27 pm By Omar Faridi  |  

Portugal-based VC firm Faber has revealed that it has closed a €20.5 million round for Faber Tech II, which is a fund that will primarily focus on supporting early-stage initiatives. Faber plans to commit €30 million to the fund that will offer assistance to startups… Read More

November 13, 2020 @ 2:39 pm By Omar Faridi  |  

UK-headquartered low code application developer Dextcloud has reportedly received an investment from Citi. The amount invested by Citi has not been disclosed, however, it’s notably the second such deal finalized by the US-based bank in the past two months. Dextcloud offers firms a low code… Read More

November 13, 2020 @ 12:50 pm By Omar Faridi  |  

India’s Tata Consultancy Services (TCS) has reportedly made a strategic agreement with Prudential Financial Inc (PFI). According to the terms of the deal, TCS will be acquiring PFI’s subsidiary, Pramerica Systems Ireland Ltd.’s selected assets. The staff members at Pramerica will continue working in their… Read More

November 13, 2020 @ 10:42 am By Omar Faridi  |  

Charles Schwab (NYSE:SCHW) has reportedly created a patent-pending algorithm that aims to enhance the customer experience while making investing more accessible to everyone. The new algorithm has been developed by a team of data scientists that work within Schwab’s Digital Services division, which is focused… Read More

November 13, 2020 @ 8:18 am By Samantha Hurst  |  

    Rapyd, a global B2B Fintech as a Service provider, announced on Thursday it has launched Rapyd Protect, which is a fraud solution designed to protect businesses and consumers against fraud across countries and payment methods. According to Rapyd, Rapyd Protect is a fraud… Read More

November 12, 2020 @ 1:36 pm By JD Alois  |  

The Federal Deposit Insurance Corporation (FDIC) is looking to boost its Fintech bench by hiring three individuals to help with legal issues regarding Fintech. According to a post on USAJOBS, responsibilities include: Analyzing and advising on the interpretation of statutes, common law, regulations, and legal… Read More

November 12, 2020 @ 1:13 pm By Omar Faridi  |  

Mike Tuchen will be replacing Onfido co-founder Husayn Kassai as the company’s new CEO. Kassai will now be serving as an advisor. As previously reported, Onfido is a global ID verification provider. The company’s products are used for verifying “real identities in a remote world.”… Read More

November 12, 2020 @ 11:45 am By JD Alois  |  

Camino Financial, a Fintech platform providing affordable credit and financial products for US Latino businesses, recently published a report on Latino-owned Businesses (LOBs) covering Q3 as well as insight into the impact of COVID-19 on these businesses. The US Latino Small Business Survey offers insights… Read More

November 12, 2020 @ 9:53 am By Omar Faridi  |  

iwoca, a European alternative lender for small businesses, is reportedly planning to lend more than £200 million to small businesses before the Coronavirus Business Interruption Loan Scheme (CBILS) applications close in January 2021. iwoca recently surpassed £100 million in CBILS lending. The platform now plans… Read More

November 11, 2020 @ 8:19 pm By Omar Faridi  |  

Ajay Bhalla, President, Cyber and Intelligence Solutions, Mastercard (NYSE:MC), has confirmed that the payments giant has joined the Lumedic Exchange in order to lay the foundation for a “trusted, more secure, and patient-centric way” for interacting with healthcare providers. Bhalia noted: “Mastercard has come together with… Read More

November 11, 2020 @ 2:09 pm By Samantha Hurst  |  

Online lending platform Lendio announced on Tuesday it has joined Mastercard Start Path’s global network of fintech innovators. According to its description, the engagement program is dedicated to fintech innovators that are building the future of commerce. Mastercard states: “Start Path is our global startup… Read More

November 11, 2020 @ 10:50 am By Samantha Hurst  |  

Refinitiv, a provider of financial markets data and infrastructure that has served more than 40,000 institutions in over 190 countries, announced on Tuesday it has launched a new AI-powered due diligence report, known as Snapshot, to help businesses stay on top of the risks associated… Read More

November 11, 2020 @ 10:14 am By Samantha Hurst  |  

OKEx, a top 20 crypto exchange, recently announced an update regarding the suspension of digital asset withdrawals on its platform. The exchange revealed that the suspension occurred on October 16th and it has been working diligently to resolve all matters related to the suspension. OKEx… Read More

November 11, 2020 @ 9:20 am By JD Alois  |  

SME lender White Oak says it has hit a loan book of £250,000,000 for the first time in its history. White Oak says this is a significant milestone for the Loans & Leases business with the lender distributing over £120 million of loans to SMEs… Read More

November 10, 2020 @ 10:37 pm By Omar Faridi  |  

The Bank of Montreal (TSE: BMO), a Canadian multinational investment bank and financial services firm, has reportedly introduced an AI-enhanced feature for its personal financial management (PFM) platform that helps clients with identifying potential cash shortfalls. According to a release, BMO’s CashTrack Insight feature uses… Read More

November 10, 2020 @ 7:17 pm By Omar Faridi  |  

The Bank of India (BoI), a major commercial bank with headquarters in Bandra Kurla Complex, Mumbai, has decided to postpone its plans to launch additional physical branches because the institution’s customers now prefer to use its digital banking platform. The BoI is also looking into… Read More

November 10, 2020 @ 11:26 am By JD Alois  |  

The British Business Bank has distributed a note indicating that from today, participating lenders in the Bounce Back Loan Scheme (BBLS) are able to offer smaller businesses across the UK a ‘top-up’ to their existing loan if they originally borrowed less than the maximum amount… Read More

November 10, 2020 @ 11:19 am By Omar Faridi  |  

Singapore based Razer recently revealed that it’s expecting to generate sizable profits for this current financial year after reporting around $40.3 million in adjusted losses for the year ending on December 31, 2019. The gaming and lifestyle focused firm stated that it managed to record… Read More

November 10, 2020 @ 7:25 am By Omar Faridi  |  

The reserve bank in Norway has confirmed that it’s not in a rush to issue a digital Krone, even though a recent research study indicates that cash usage in the country is now down to only 4% of all financial transactions. Declining cash usage is… Read More