General News

June 13, 2020 @ 7:05 pm By JD Alois  |  

  dv01 has recently published another report tracking the impact of COVID-19 on the online lending marketplace. dv01 is a top data aggregator tracking the online lending industry. dv01 connects directly with the largest online lenders in the consumer world to, normalizing loan data, providing… Read More

June 13, 2020 @ 10:39 am By Omar Faridi  |  

The US Federal Bureau of Investigations (FBI) has warned that there could be an increase in financial crime due to the rise of digital banking. The warning is a reminder from the FBI that mobile banking providers and financial institutions must protect their clients from… Read More

June 12, 2020 @ 2:24 pm By Samantha Hurst  |  

  Thyngs, a UK-based mobile technology platform, announced on Friday it has launched its touch-free technology solution to help make integration and transaction experiences safer for retail and hospitality customers. This technology was created during the COVID-19 pandemic and lockdowns. “The latest iteration of the… Read More

June 12, 2020 @ 12:27 pm By Samantha Hurst  |  

Online lending platform Lendio announced on Friday it will partner with financial institutions across the U.S. to power the forgiveness application process for Paycheck Protection Program (PPP) loans.  As previously reported, the PPP is part of the $2 trillion CARES Act signed on March 27,… Read More

June 12, 2020 @ 10:04 am By Samantha Hurst  |  

Mastercard announced on Thursday it has joined forces with Octet Europe to launch of a new trade solution across the European Economic Area (EEA). According to Mastercard, the Mastercard Trade Solution powered by Octet Europe with a goal to help small and medium-sized enterprises (SMEs) grow… Read More

June 12, 2020 @ 8:12 am By Samantha Hurst  |  

UK banking group Barclays announced earlier this week the launch of its new “Back to Business” toolkit specifically for UK small businesses. The toolkit is to help businesses get back on their feet following the rise of the COVID-19 pandemic. It is also the latest… Read More

June 12, 2020 @ 1:14 am By JD Alois  |  

OurCrowd, a global leader in online capital formation for early-stage ventures, has scheduled the OurCrowd Pandemic Innovation Conference on June 22nd. The virtual event will cover the latest tech solutions pertaining to the Coronavirus including vaccinations, treatments, prevention, and more. The virtual event will also… Read More

June 11, 2020 @ 4:46 pm By JD Alois  |  

FINRA’s Office of Financial Innovation has posted a report on Artificial Intelligence (AI) and the securities industry. Financial services firms are incorporating AI into a growing number of services. FINRA is seeking to engage with this sector of Fintech to better understand the impact on… Read More

June 11, 2020 @ 1:51 pm By Samantha Hurst  |  

Payment processing platform Klarna has teamed up with deposits marketplace Raisin to launch a cooperation in Germany. Raisin reported that by partnering with the Berlin-based fintech Klarna is further expanding into the German savings market. “In a first for Klarna, and available exclusively to Raisin’s customers… Read More

June 10, 2020 @ 1:52 pm By Samantha Hurst  |  

Airwallex, an Australia-based fintech company, recently announced it has launched a new payment acceptance service in Australia, Hong Kong, and Singapore with WeChat Pay. The company reported that the service is allowing merchants to add WeChat Pay as an additional payment option on the e-commerce… Read More

June 10, 2020 @ 1:41 pm By Samantha Hurst  |  

NS8, a U.S.-based online fraud detection and prevention for small-and-medium-sized businesses (SMEs), announced on Wednesday it secured $123 million through its Series A funding round, led by Lightspeed Venture Partners with additional backing from AXA Venture Partners. Founded in 2016, NS8 stated it safeguards online businesses… Read More

June 10, 2020 @ 11:35 am By Samantha Hurst  |  

Global payments provider Verrency announced on Wednesday the launch of its new product feature “Pay Later.” According to Verrency, the feature enables bank customers to instantly move any regular purchase transaction to a longer-term installment payment plan. “Consumers can select to pay in multiple installments… Read More

June 10, 2020 @ 6:59 am By Omar Faridi  |  

Switzerland will be introducing QR-bill payments by the end of this month. They will reportedly have a digitally readable code that will hold all payment data. QR-bill payments will be offered along with seven other existing paper-based payment slips that are used to process transactions…. Read More

June 9, 2020 @ 4:02 pm By Samantha Hurst  |  

Cross River, a bank that delivers advanced financial and compliance products/services to the fintech industry, announced on Tuesday it has approved more than $4.7 billion in loans to small businesses across the U.S. through both rounds of the Small Business Administration’s (SBA) Paycheck Protection Program… Read More

June 9, 2020 @ 12:10 pm By Samantha Hurst  |  

Paysafe Group, a global payments provider, announced on Monday the U.S. launch of its Skrill Money Transfer service. According to Paysafe, existing and new Skrill customers in the U.S. may now use the solution to transfer money for free to friends and family in Mexico,… Read More

June 9, 2020 @ 8:35 am By JD Alois  |  

HM Treasury is out with its weekly update on COVID-19 lending schemes designed to support businesses impacted by the pandemic. According to the update, over 830,000 UK businesses have provided £34.9 billion through the three major government-backed lending programs. £3.6 billion has been granted to… Read More

June 8, 2020 @ 9:30 pm By Omar Faridi  |  

Financial service providers and regulators are increasingly focusing on enabling and supporting instant payments, according to Juniper Research. The researchers note that the EU’s Single Euro Payments Area (SEPA) has “brought down settlement times significantly,” with the SEPA Instant Credit Transfer Scheme helping to reduce… Read More

June 8, 2020 @ 1:42 pm By Samantha Hurst  |  

Celsius Network, a cryptocurrency lending and borrowing platform, recently announced it surpassed $1 billion in cryptocurrency deposits since its launch in 2018. This announcement comes just after Celsius announced it now has more than 110,000 active users using its platform.  As previously reported, Celsius claims… Read More

June 8, 2020 @ 11:08 am By Samantha Hurst  |  

 Alan Lau, CEO of Tencent’s insurance platform WeSure, recently announced that research has revealed the COVID-19 pandemic unexpectedly raised the sense of urgency in insurance purchase in China. Lau notably referred to the latest research Tencent WeSure conducted in partnership with Shanghai-based Fudan University, which showed a string… Read More

June 8, 2020 @ 11:00 am By JD Alois  |  

Per Capita Incomes to Shrink in All Regions as COVID-19 Health Crisis Crushes Economic Output The World Bank has issued a statement that the massive shock of the COVID-19 crisis and affiliated lockdown have plunged the global economy into a severe contraction. The World Bank… Read More