General News

May 11, 2024 @ 8:48 am By Omar Faridi  |  

April’s KPMG and REC, UK Report on Jobs survey, compiled by S&P Global, signaled a further decline in permanent placements made by UK recruitment consultants. There were reports of a heightened caution “amongst clients, with firms reportedly holding back on recruitment.” However, the overall fall… Read More

May 10, 2024 @ 2:36 pm By Omar Faridi  |  

Fiserv, Inc. (NYSE: FI), a global provider of payments and financial technology, announced that WaFd Bank has selected CashFlow Central from Fiserv to enhance its robust small business banking offerings. WaFd Bank small business customers will be “able to access a full range of capabilities… Read More

May 10, 2024 @ 9:44 am By Omar Faridi  |  

Gen Z consumers are tapping into credit at higher levels than their Millennial counterparts did in the early stages of adulthood (ages 22-24). TransUnion (NYSE: TRU) released these findings at the company’s 2024 Financial Services Summit. The new TransUnion study, Solving for Z, “explored credit… Read More

May 9, 2024 @ 9:10 pm By Omar Faridi  |  

Symphony – the markets infrastructure and technology platform – is expanding its global footprint by establishing a commercial office in the Middle East. The new office will be located in Abu Dhabi Global Market (ADGM), the international financial center of the UAE’s capital, “underlining Symphony’s… Read More

May 9, 2024 @ 10:38 am By Omar Faridi  |  

The Payment Systems Regulator (PSR) is proposing to direct banks and other payment firms participating in CHAPS to reimburse their customers who have been victims of authorised push payment (APP) scams. The PSR’s direction will underpin the Bank of England’s new CHAPS reimbursement rules. In… Read More

May 9, 2024 @ 8:08 am By Omar Faridi  |  

Affirm (NASDAQ: AFRM), a Fintech focused on BNPL services, delivered another set of solid results/earnings in their third fiscal quarter. Affirm is reporting $6.3 billion in gross merchandise volume (GMV). The Fintech firm is reporting $576 million in revenue, $231 million in revenue less transaction… Read More

May 9, 2024 @ 8:01 am By Omar Faridi  |  

Varo Bank, a federally chartered digital bank, has shared research about the impact of inflation on cash-sensitive consumers in a new Wealth Watch Insights report. The data shows the strain inflation has caused for this demographic, “with 89% of respondents reporting that they now rely… Read More

May 8, 2024 @ 3:57 pm By Omar Faridi  |  

Research from RedCompass Labs, a firm focused on payments modernization, has revealed that US banks are failing to meet demand for instant payments. The report, “Time to leave legacy behind? Instant payments in the US”,  “surveyed 300 senior payment professionals in US banks to get… Read More

May 8, 2024 @ 11:06 am By Omar Faridi  |  

Rent prices have surged in recent years, and wages have not kept pace, according to an update from real estate tech firm Zillow (Nasdaq: Z and ZG). While last year was a bright spot — wages grew faster than rents nationally and in almost half… Read More

May 7, 2024 @ 11:23 am By JD Alois  |  

British Business Investments says it has committed to £50 million in a private credit co-investment along with DunPort Capital Management. The funds will help create the co-investment vehicle, Alder Corporate Credit DAC. The funds will be used to support smaller firms in the UK with… Read More

May 6, 2024 @ 7:11 pm By Omar Faridi  |  

Poor investment governance could cost asset owners, and in turn their customers, significant sums – in the case of a super fund member as much as $500,000 over their working lives, a new report by KPMG Australia and Frontier Advisors finds. A survey of institutional… Read More

May 6, 2024 @ 10:59 am By Omar Faridi  |  

The majority (85%) of consumers know what they need to do to be more energy efficient and the same proportion (84%) believe they are making efforts to achieve this, according to EcoSaver research commissioned by Bank of Ireland with Red C. While the vast majority… Read More

May 6, 2024 @ 9:52 am By JD Alois  |  

Previously known as Tech Coast Angels, NuFund is reporting its 100th investment. Angel groups tend to support startups in their infancy, shouldering great risk while backing promising young firms. While many of their investments will go belly up, Angel groups are a vital variable to… Read More

May 5, 2024 @ 6:03 pm By Omar Faridi  |  

Billtrust, a B2B order-to-cash and digital payments firm, has announced that Brian Daniell has joined the company as Chief Customer Officer. Committed to customer education and enablement, Brian will “oversee global customer operations and strategy and report to CEO Sunil Rajasekar.” He joins Billtrust at… Read More

May 5, 2024 @ 5:49 pm By Omar Faridi  |  

Retail investors have been active in the stock market. In fact, there’s been a sharp increase in retail ETF activity in Q1 2024, according to the Autorité des Marchés Financiers (AMF). Each quarter, the Autorité des Marchés Financiers (AMF) in France “provides an overview of… Read More

May 4, 2024 @ 1:59 pm By Omar Faridi  |  

CME Group, the derivatives marketplace, reported its April 2024 market statistics set a new average daily volume (ADV) record of 26.5 million contracts for the month, up 33% from April 2023, with double-digit growth across all asset classes. Additionally, interest rate, equity index, foreign exchange… Read More

May 4, 2024 @ 11:57 am By Tony Zerucha  |  

Feedzai, a provider of anti-fraud and financial crime software, this week appointed David Larson as its new chief financial officer. Founded in 2011, Feedzai’s RiskOps platform protects approximately one billion people, analyzing more than $6 trillion in payments at 3,000 transactions per second to prevent… Read More

May 4, 2024 @ 9:33 am By Omar Faridi  |  

A majority of small and mid-sized business owners expect their revenues to increase this year, and their worries over a recession have declined substantially, according to the 2024 Bank of America Business Owner Report, conducted in partnership with Bank of America Institute (NYSE: BAC). While… Read More

May 3, 2024 @ 7:02 pm By Omar Faridi  |  

A delegation comprising executives from 11 Azerbaijani banks, under the leadership of the Governor of the Central Bank of Azerbaijan, embarked on a mission to the United States. Organized by the U.S.-Azerbaijan Chamber of Commerce (USACC), a Washington, D.C.-based trade association, in partnership with Azerbaijan… Read More

May 3, 2024 @ 12:44 pm By Tony Zerucha  |  

DailyPay, a leading provider of earned wage access, this week announced that Brett Pitts has joined its board of directors. Pitts, an accomplished leader in the banking and payments industries, brings decades of experience to DailyPay from prominent financial institutions and financial services companies where he drove… Read More