General News

June 23, 2024 @ 8:12 pm By Omar Faridi  |  

Citi Global Perspectives and Solutions has released a report AI & Finance: Bot, Bank & Beyond. The report analyzes the role that artificial intelligence (AI) might play in “changing the way both consumers and corporates bank.” From the likely use of autonomous agents executing client… Read More

June 23, 2024 @ 4:54 pm By Omar Faridi  |  

PitchBook has provided their 2024 US Venture Capital Outlook as part of a comprehensive  Midyear Update. Expectations for the turnaround in the VC market entering 2024 were not especially high, the research-focused firm noted in a recent update. PitchBook pointed out that the headwinds that… Read More

June 22, 2024 @ 9:44 pm By Michael Wong  |  

Indonesia’s government is stepping up its efforts to curb online gambling through a newly formed task force announced by Coordinating Minister for Political, Legal, and Security Affairs, Hadi Tjahjanto. The task force aims to sever access to international online gambling platforms and closely monitor associated… Read More

June 22, 2024 @ 8:21 pm By Tony Zerucha  |  

Apiture, a provider of digital banking solutions, this week released key findings from a survey of more than 2,000 U.S. consumers conducted with market research and analytics company The Harris Poll. The study finds that although 80% of Gen Z and 75% of millennials have… Read More

June 22, 2024 @ 6:23 pm By Omar Faridi  |  

Discretionary spending hit as household cost pressures continue to mount according to the latest findings from KPMG UK‘s Consumer Pulse survey. As noted in the update, four in ten consumers say they’ve “cut back on non-essential spending, reducing their monthly discretionary budget by £77 on… Read More

June 22, 2024 @ 5:36 pm By Tony Zerucha  |  

Most U.S. businesses are seeing an increase in fraud, and key decision-makers see the need for vigilance. Those are among the findings of Veriff’s U.S. Fraud Industry Pulse Survey for 2024. Almost 87% of companies saw an increase in online fraud in 2023, while 78%… Read More

June 22, 2024 @ 5:35 pm By Omar Faridi  |  

DriveWealth, a financial technology platform providing Brokerage-as-a-Service,  announced the promotions of three members of the company’s senior leadership team, effective immediately. Jason Pizzorusso will serve as President; Marcus Anthony has been named Chief Financial Officer; and Emily Ellis has been promoted to Chief People Officer…. Read More

June 22, 2024 @ 2:17 pm By Tony Zerucha  |  

dLocal, a cross-border payment platform specializing in high-growth markets, this week announced its partnership with Eneba, a marketplace with more than 10 million registered users and 80,000 products for gamers. The partnership between dLocal and Eneba aims to create a vector of accessible gaming for… Read More

June 22, 2024 @ 10:27 am By Omar Faridi  |  

High-net-worth individuals believe U.S. stocks offer the best opportunities for growing assets, but that conviction is less held by younger investors finds the 2024 Bank of America (NYSE: BAC) Private Bank Study of Wealthy Americans. Millennials and Gen Z are increasingly looking “beyond the traditional… Read More

June 22, 2024 @ 10:13 am By Michael Wong  |  

Fintech Nexus, a prominent name in the Fintech community formerly known as LendIt, has announced it will be closing down and filing for bankruptcy. Last year, Fintech Nexus exited large scale events – a sector of the Fintech industry the organization had largely dominated in… Read More

June 22, 2024 @ 8:50 am By Omar Faridi  |  

Federal Trade Commission data reveals that government impersonation scammers are targeting consumers for payments in cash, with the amount of cash reported lost to these scams nearly doubling from 2022 to 2023. The FTC data shows that consumers reported “losing $76 million when paying cash… Read More

June 21, 2024 @ 5:55 pm By Omar Faridi  |  

The Autorité des Marchés Financiers (AMF) and the Autorité de Contrôle Prudentiel et de Résolution (ACPR) in France have published the 4th edition of their joint report on the monitoring and assessment of the climate commitments made by Paris financial centre participants. This report is… Read More

June 21, 2024 @ 9:30 am By Omar Faridi  |  

Investments into the e-commerce enablement ecosystem contracted in Q1, producing $1.7 billion across 83 deals, marking decreases of 52.2% and 26.5%, respectively, relative to Q4 seasonal increases. This, according to a report from PitchBook. PitchBook further noted that Q1 2024 approached parity “with Q3 2023,… Read More

June 21, 2024 @ 7:12 am By Omar Faridi  |  

The UK is experiencing a massive increase in mobile fraud. Consumers, businesses, and government agencies are alarmed and pondering their next steps as they prepare to deal with several emerging trends that have surfaced in 2024. This, according to an update from Prove. Influenced by… Read More

June 20, 2024 @ 10:25 am By Omar Faridi  |  

Bluevine is reportedly laying off around 12% of its Israel-based workforce. Bluevine says it is on a mission to enable “a better financial future for small business owners through innovative banking solutions designed just for them.” By combining technology and security with their team’s expertise… Read More

June 19, 2024 @ 4:34 pm By Omar Faridi  |  

wefox investors have reportedly proposed €25 million capital injection to potentially stop the Ardonagh deal. London-listed Chrysalis Investments is said to be among the shareholders expected to provide €25 million into what was once one of Europe’s largest Insurtech firms, Sky News reported. Two of… Read More

June 18, 2024 @ 11:08 pm By Omar Faridi  |  

The ACPR and AMF Joint Unit for Insurance, Banking and Retail Investment has released its 2023 Annual Report. Over the last two years, rising interest rates and inflation have “changed retail investors’ expectations of financial products, leading the authorities to adapt their supervision of commercial… Read More

June 18, 2024 @ 8:56 am By Omar Faridi  |  

More parts of the UK economy grew in May than at any time in the last 15 months, according to the latest Lloyds Bank UK Sector Tracker. While the overall rate of output growth across the economy “slowed marginally in May (53.0 vs. 54.1 in… Read More

June 17, 2024 @ 10:26 am By Omar Faridi  |  

Laura Bayley, Head Clearing Services, SIX, has been appointed as new SWIFT Board Member, the world’s provider of secure financial messaging services. SWIFT’s Board composition is designed to “ensure SWIFT‘s global relevance, support its international reach and uphold its strict neutrality.” Laura Bayley is Head… Read More

June 16, 2024 @ 10:22 pm By Omar Faridi  |  

N26 recently announced the appointment of Peter Kleinschmidt to the Supervisory Board of N26 AG following its 2024 Annual General Meeting. Peter, an avid investor in startups with a focus “on new and emerging technology, brings decades of experience in the financial services, banking and… Read More