General News

May 6, 2020 @ 8:34 am By JD Alois  |  

The newest COVID-19 support package created by the UK government appears to be a big hit with UK businesses. According to a post by HM Treasury, over 69,000 loans valued at more than £2 billion have been approved in just 24 hours. Bounce Back Loans… Read More

May 6, 2020 @ 7:13 am By Omar Faridi  |  

  Switzerland-based firm Alpian has secured CHF 12.2 million (appr. $12.54 million) through a Series A investment round. The funds raised will be used to establish a digital-first private bank, which will cater to the nation’s affluent market. As noted in a company release: “Independent… Read More

May 5, 2020 @ 12:44 pm By Samantha Hurst  |  

Getsafe, a Germany-based insurtech startup, is reportedly delaying expansion into other European markets due to the COVID-19 pandemic. This news comes just a few months after Getsafe announced its expansion into the UK. As previously reported, Getsafe claims it is looking to reinvent insurtech and is… Read More

May 5, 2020 @ 11:18 am By Samantha Hurst  |  

SpotOn Transact, Inc (SpotOn), a software and payments company, announced on Tuesday it has formed a new partnership with fintech unicorn SoFi to provide financial products to small businesses during the COVID-19 pandemic. According to SpotOn, the collaboration will help small businesses by bypassing the… Read More

May 5, 2020 @ 9:44 am By Samantha Hurst  |  

Proxymity, a digital investor communications platform that was developed within Citi’s Institutional Clients Group, announced on Tuesday it has raised $20.5 million in a strategic round of investment, with participation from BNY Mellon, Citi, Clearstream, Computershare, Deutsche Bank, HSBC, J.P. Morgan, and State Street. The… Read More

May 5, 2020 @ 7:56 am By Omar Faridi  |  

  Touch-free shopping and contactless payments are being increasingly adopted by consumers across the globe, in order to prevent the further spread of the deadly Coronavirus. Many consumers have been trying to avoid ATMs that require users to manually enter their PINs, according to a… Read More

May 5, 2020 @ 7:13 am By Omar Faridi  |  

The Banco Bilbao Vizcaya Argentaria (BBVA), a Spanish multinational financial services company based in Madrid and Bilbao, Spain with around €700 billion in total assets, has teamed up with a local research center, called the IMDEA Software Institution. The BBVA noted in a release that it… Read More

May 4, 2020 @ 7:30 pm By Omar Faridi  |  

  Governments throughout the world have been asking people to stay at home, as the world struggles to cope with the highly contagious Coronavirus. Countries across the globe have enforced nationwide lockdowns in order to prevent the further spread of COVID-19. Many people are now… Read More

May 4, 2020 @ 7:04 pm By Omar Faridi  |  

  SS&C, a multinational provider of investment and financial services and software for the financial services and healthcare sectors, will be acquiring Innovest Systems, a wealth management technology (Wealthtech) firm, for $120 million in cash and stock. New York-headquartered Innovest Systems offers cloud-powered technology for… Read More

May 4, 2020 @ 4:50 pm By Samantha Hurst  |  

Small business funding platform Biz2Credit announced on Monday its funding affiliate was approved as a lender for the SBA Paycheck Protection Program (PPP) established under the recently-enacted CARES Act. Biz2Credit reported that this makes it one of the few fintechs that has been approved by… Read More

May 4, 2020 @ 3:05 pm By Samantha Hurst  |  

U.S. fintech Robinhood announced on Monday it secured $280 million through its Series F funding round, which was led by Sequoia Capital with participation from existing and new investors, including NEA, Ribbit Capital, 9Yards Capital, and Unusual Ventures. Founded in 2013, Robinhood stated it is… Read More

May 4, 2020 @ 12:20 pm By Samantha Hurst  |  

Safaricom, a Kenya-based telecom company and operator of M-Pesa, announced last week it has formed a new partnership with Visa (NYSE: V) to enable the development of products that will support digital payments for M-PESA customers. M-Pesa is a mobile banking service that allows users… Read More

May 4, 2020 @ 10:02 am By Omar Faridi  |  

As major financial institutions explore different strategies to cope with the COVID-19 crisis, a survey of UK financial services employees reveals that 66% think their company must do more to help them work productively from their homes. Large banks are currently trying to adapt to… Read More

May 4, 2020 @ 7:35 am By Omar Faridi  |  

Mobile and online banking users have increased significantly due to the COVID-19 pandemic. This, as banks across the globe have taken measures to limit or restrict in-person visits to physical branches, in order to prevent the further spread of the Coronavirus. A recent J.D. Power… Read More

May 3, 2020 @ 7:30 pm By JD Alois  |  

Bounce Back Loans: Bower Up to £50,000 For the first 12 months of the loan the interest is paid by the UK government, then 2.5% interest per year afterward Repayments are deferred for 12 months Following the Chancellor of the Exchequer’s announcement on 27 April,… Read More

May 3, 2020 @ 2:51 pm By Omar Faridi  |  

Finablr (LON:FIN), a global platform for payments and foreign exchange solutions that was planning to secure $200 million (last year) in order to prepare to list on the London Stock Exchange, has reportedly uncovered a “hidden” debt pile of £1.3 billion ($1.625 billion). Finablr’s company… Read More

May 3, 2020 @ 11:29 am By Omar Faridi  |  

ISignthis (ASX:ISX), a Melbourne-based provider of remote AML/CFT KYC-enhanced due diligence identity proofing, has reportedly lost its initial legal battle with the Australian Securities Exchange (ASX) over the suspension of its company shares. The suspension was announced following an order from the federal court which… Read More

May 3, 2020 @ 8:40 am By Omar Faridi  |  

The Coronavirus (COVID-19) outbreak has dramatically affected cash transactions in the United Kingdom, as ATM withdrawals dropped by 60% during the lockdown period. Approximately 75% of UK residents confirmed that they’re not handling physical currency notes nearly as much as they were before the ongoing… Read More

May 1, 2020 @ 10:36 pm By Samantha Hurst  |  

Blockchain security company CipherTrace announced this week the launch of its new feature, Armada. According to CipherTrace, Armada was created to support banks and financial institutions in achieving AML compliance by providing critical visibility into risky cryptocurrency blind spots so know your customer (KYC) processes… Read More

May 1, 2020 @ 8:17 pm By Samantha Hurst  |  

Wise, a U.S.-based fintech, announced this week it secured $5.7 million through its latest seed funding round, which was led by Base10 Partners’ Principal, Rexhi Dollaku, with participation from Abstract Ventures, Backend Capital, The Fund, Two Culture Capital, and notable angels such as Michael Vaughan,… Read More