General News

February 4, 2020 @ 3:13 pm By Omar Faridi  |  

Dallas-based Texas Capital Bank has officially introduced Bask Bank, an online savings account that earns American Airlines AAdvantage miles, instead of accumulating interest. As mentioned on Bask’s website, the bank is a member of the Federal Deposit Insurance Corporation (FDIC), which means customers’ total deposits… Read More

February 4, 2020 @ 11:02 am By JD Alois  |  

The Cambridge Centre for Alternative Finance (CCAF), at the University of Cambridge Judge Business School, has published a new report on artificial intelligence (AI) and the future of financial services. CCAF is the leading research entity covering the global ecosystem of Fintech from online capital… Read More

February 4, 2020 @ 7:39 am By JD Alois  |  

Asset management firm Mindful Wealth has re-domiciled in Singapore to benefit from the new “Variable Capital Companies” (VCC) framework. Mindful Wealth currently claims over $600 million in assets under management (AUM). The company originally started in Switzerland providing wealth management and other corporate services. Mindful… Read More

February 3, 2020 @ 11:03 pm By Omar Faridi  |  

Bandpay, a newly developed payment technology (paytech) platform which aims to guarantee that music artists get paid for their work, is expected to go live in March of this year on the App Store and Google Play for US-based musicians. Company founder DeCarlos Garrison stated:… Read More

February 3, 2020 @ 11:00 pm By Omar Faridi  |  

Ajay Banga, CEO at payments giant Mastercard, recently talked about why his company decided to leave the controversial Facebook-led Libra global payments and stablecoin project. Banga claims his firm doesn’t quite understand Libra’s business model. He told the Financial Times: “When you don’t understand how… Read More

February 3, 2020 @ 4:26 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) publishes a monthly list of “alternative trading systems” or ATSs. An ATS is a marketplace that may trade securities similar to a regulated exchange. To receive approval to operate an ATS, a platform must also become a FINRA regulated… Read More

February 3, 2020 @ 10:21 am By Omar Faridi  |  

CIBC’s mobile banking app recently turned 10 years old, notably marking a decade since the institution became the first large Canadian financial institution to provide an innovative mobile banking app to customers. In a February 2 press release, CIBC reflected on the key milestones the… Read More

February 3, 2020 @ 8:21 am By Omar Faridi  |  

Jumio, an established provider of artificial intelligence (AI)-enhanced end-to-end identity verification and authentication services, has teamed up with CIMB Bank Philippines’ all-digital bank to offer a convenient and user-friendly digital onboarding solution to Filipinos. Having completed its first full year of business operations, CIMB Bank… Read More

February 1, 2020 @ 9:18 am By Omar Faridi  |  

Veteran digital asset investor Arianna Simpson, who has been into crypto “before it was cool,” will reportedly be joining giant venture capital firm Andreessen Horowitz as a deal partner. Simpson, the founder and managing director at crypto-asset hedge fund Autonomous Partners, confirmed the news on… Read More

January 31, 2020 @ 4:55 pm By Omar Faridi  |  

Malaysian Technology Development Corporation (MTDC) and the World Logistics Council Limited (WLC) have reportedly committed to a Memorandum of Understanding (MoU), in order to launch the Multi-Dimensional Digital Economy Application System (MDDEAS) in Malaysia. The system will be introduced with the help of local tech… Read More

January 29, 2020 @ 10:20 am By JD Alois  |  

Goldman Sachs Group (NYSE: GS) presented the firm’s vision for the future today in an Investor Meeting that charted the roadmap for the bank over the next few years. Goldman said the investor day reflects their ongoing commitment to providing the market with a “clear… Read More

January 29, 2020 @ 9:21 am By JD Alois  |  

The Securities and Exchange Commission (SEC) Small Business Capital Formation Advisory Committee has published its agenda for the forthcoming meeting taking place on February 4th. According to the SEC, the committee will explore funding gaps that impede growth opportunities for entrepreneurs and job creators. The… Read More

January 29, 2020 @ 8:06 am By Samantha Hurst  |  

Royal Bank of Scotland recently announced its new £1 billion in funding through NatWest to support female entrepreneurs in the UK to scale and grow. The banking group revealed it is setting a target to support and inspire 500K people to consider starting a business,… Read More

January 29, 2020 @ 6:56 am By Omar Faridi  |  

India-based Infibeam Avenues Limited, an established online payment solutions and enterprise software solutions developer, recently recorded the highest ever digital payment processing volume of approximately INR 159 billion (appr. $2.23 billion) during a period of significant slowdown in the nation’s economy and also amidst tough… Read More

January 29, 2020 @ 4:00 am By Omar Faridi  |  

Philip Hammond, former Member of Parliament and Chancellor of the Exchequer, has reportedly joined SoftBank-backed Fintech firm OakNorth as the company continues to focus on its international expansion efforts. Hammond will be serving as a member of OakNorth’s advisory board, beginning on January 27. He… Read More

January 29, 2020 @ 2:36 am By Omar Faridi  |  

Zelle, a peer-to-peer (P2P) payment platform, reportedly handled $187 billion worth of payments via 743 million transactions last year. This, according to the latest figures published by network operator Early Warning Services. Zelle’s year-over-year payment values have increased by approximately 57%, meanwhile, transaction volume surged… Read More

January 29, 2020 @ 2:23 am By Omar Faridi  |  

New York-based tech giant IBM has reportedly acquired a patent for the implementation of a “self-aware token,” which will be developed specifically to record events of offline transactions. According to a document submitted to the US Patent and Trademark Office, the self-aware token will be… Read More

January 29, 2020 @ 2:18 am By Omar Faridi  |  

Urgent action is required in order to address a serious skills and talent shortage in the United Kingdom’s financial services sector, an independent review commissioned by HM Revenue has revealed. The review has issued a warning to industry participants stating that the UK’s financial sector… Read More

January 26, 2020 @ 3:29 am By Omar Faridi  |  

The Bank of England (BoE) is reportedly looking for a cloud build partner, which will be a part of its One Bank Service Transformation strategy. The UK’s reserve bank notes that it is planning to work with “an experienced partner to assist in design, construction… Read More

January 25, 2020 @ 12:36 pm By Omar Faridi  |  

Jack Henry & Associates, Inc. has confirmed that its division ProfitStars’s suite was used by Habib American Bank (HAB Bank) to develop its Commercial Lending Center Suite. The suite will improve the institution’s commercial lending business, enhance operational efficiencies and help offer a better experience… Read More