General News

September 1, 2020 @ 2:47 pm By Samantha Hurst  |  

UK based digital bank Monzo announced on Tuesday two new fees for its customers. The fintech startup reported that starting October 31st, it will introduce fees for taking out cash and getting replacement cards. “We’re introducing a 3% fee if you withdraw more than £250… Read More

September 1, 2020 @ 1:32 pm By Omar Faridi  |  

The retail banking sector has been hit with numerous scams during the past few years. Cybercriminals are now also beginning to increasingly go after much larger corporate accounts by launching sophisticated malware and phishing attacks, according to Beate Zwijnenberg, chief information security officer at ING… Read More

September 1, 2020 @ 12:42 pm By Samantha Hurst  |  

Cosmose AI, a China-based offline shopping platform, announced on Tuesday it secured €12.5 million through its Series A funding round, which was led by Tiga Investments with participation from OTB Ventures and TDJ Pitango. Founded in 2014, Cosmose AI claims it “harnesses anonymous mobile user… Read More

September 1, 2020 @ 12:05 pm By Samantha Hurst  |  

Chip, a UK-based automatic savings app, announced on Monday it has registered a summer of record growth, as the UK’s savers’ priorities shifted towards financial security and saving in light of the coronavirus pandemic and its impact on the economy. As previously reported, Chip is… Read More

September 1, 2020 @ 10:26 am By Omar Faridi  |  

Five senior management professionals working at Binance-owned CoinMarketCap, the largest cryptocurrency market data site, have left the company. Carylyne Chan, who has been serving as interim CEO at CoinMarketCap, has also resigned. Binance’s management confirmed that they’ll be replacing the former staff members with their… Read More

September 1, 2020 @ 9:34 am By Samantha Hurst  |  

dLocal, a fintech that specializes in cross-border payments for emerging markets, announced on Tuesday it is has teamed up with Spotify to enable the music platform’s new payment methods for customers in Latin America for Spotify Premium through the use of its payments platform. dLocal… Read More

September 1, 2020 @ 9:13 am By Omar Faridi  |  

Ethereum Classic (ETC), which only has about 3% of the total hashpower (computing resources securing blockchain networks) that’s currently being used to secure the much larger and arguably more secure Ethereum (ETH) network, recently experienced another serious 51% attack. These types of attacks can occur… Read More

August 31, 2020 @ 3:15 pm By Samantha Hurst  |  

Cryptocurrency platform Coinbase announced on Monday it has welcomed Marc Andreessen, the Co-Founder and Operating Partner of Andreessen Horowitz, and Gokul Rajaram, Executive at DoorDash to its board of directors. Along with Andreessen and Rajaram joining the Board, Coinbase revealed two Board contributors will be… Read More

August 31, 2020 @ 3:03 pm By Samantha Hurst  |  

China Construction Bank (CCB), one of the nation’s largest financial institutions, has reportedly disabled its digital yuan wallet, which was available inside the banking group’s mobile app, after the service’s soft launch drew wide attention. According to Coindesk, It is unclear when the banking group… Read More

August 31, 2020 @ 2:06 pm By Samantha Hurst  |  

Canadian fintech Mogo Inc. (TSX:MOGO) (NASDAQ:MOGO) announced on Monday it is planning to launch a mobile peer-to-peer (P2P) payment solution, which will enable users to quickly and easily make and share payments with friends and family through Mogo’s mobile app. According to Mogo, the payment… Read More

August 31, 2020 @ 12:35 pm By Samantha Hurst  |  

  Chase announced on Monday the launch of its new Freedom Flex credit card, which was developed in partnership with Mastercard, along with a new cashback offering for Freedom Unlimited, According to Chase, Freedom Flex cardmembers will have access to Mastercard’s World Elite Benefits and… Read More

August 31, 2020 @ 11:28 am By Samantha Hurst  |  

  PayPal Holdings, Inc. (NASDAQ: PYPL) announced on Monday the launch of its new interest-free buy now pay later installment solution, Pay in 4. According to PayPal, Pay in 4 enables merchants and partners to get paid upfront while enabling customers to pay for purchases… Read More

August 31, 2020 @ 10:01 am By Samantha Hurst  |  

UK-based challenger bank Tide recently announced it is continuing to pause Tide Bounce Back Loans until the UK government offers direct funding. The update came less than two months after Tide revealed its plans to paused its bounce back loan lending and closed its waiting… Read More

August 30, 2020 @ 10:58 pm By Samantha Hurst  |  

  U.S. insurtech startup Hippo Insurance recently announced it launched in the state of Delaware. Founded in 2015, Hippo describes itself as a home insurance company that’s changing the way people safeguard their most important asset. “We’ve reimagined the traditional homeowners insurance policy, removed things that… Read More

August 30, 2020 @ 4:08 pm By Omar Faridi  |  

Fuse Capital, a company established by experienced VCs and business owners based in Rio de Janeiro, Brazil, recently revealed that it’s raising its first overseas fund for investors looking for long-term, but high-risk investment opportunities. Launched in November 2019, Fuse Capital aims to assist Brazilian… Read More

August 28, 2020 @ 10:39 pm By Samantha Hurst  |  

Mastercard announced on Friday it has launched frictionless retail technology solutions in order to enable touchless economy. The financial giant reported it has partnered with Circle K, Delaware North, Dunkin’ Donuts, and White Castle to “reimagine” the consumer “shopping journey.” “As merchants navigating the impacts… Read More

August 28, 2020 @ 5:40 pm By Omar Faridi  |  

Peer to peer (P2P) lending platforms in the UK received significantly fewer complaints during Q1 2020, according to the Financial Ombudsman. As explained on its official website, the Financial Ombudsman Service (FSO) is “a free and easy to use service that [aims to] settle complaints… Read More

August 28, 2020 @ 3:08 pm By JD Alois  |  

The New Zealand Stock Exchange (NZX) has been under attack for several days now as a DDOS attack (distributed denial of service) crippled trading on the exchange. NZHerald claimed that Russian cybercrooks were behind the attack. On August 26, the NZX issued the following statement:… Read More

August 28, 2020 @ 1:47 pm By Samantha Hurst  |  

NerdWallet, a U.S.-based website and app that provides financial guidance to more than 160 million consumers every year, announced on Thursday it is set to acquire UK-based website, Know Your Money. NerdWallet claims that through the acquisition, it and Know Your Money will provide “the… Read More

August 28, 2020 @ 12:15 pm By Ram Alagianambi and Arun Sikka  |  

How might hyper-personalization improve your products? Behavioral economics is the field of study which acknowledges that people are irrational beings; as explained by economist Richard Thaler in his book, Misbehaving, humans don’t behave the same way as theoretical decision-makers he calls ‘Econs’, who always make… Read More