General News

December 14, 2023 @ 6:11 am By Omar Faridi  |  

Climate finance was central to discussions at COP28 in Dubai and funding to reach net-zero and restore biodiversity is still falling short, according to an update shared by the World Economic Forum (WEF). New research published by WEF highlights priorities “for action and shows how… Read More

December 13, 2023 @ 10:10 pm By Omar Faridi  |  

In the ever-changing landscape of economic uncertainties, the third quarter of 2023 brought both challenges and glimpses of recovery in household finances. UK Finance‘s Household Finance Review, published recently, delves into “the key trends and indicators that shaped consumer behavior during this period.” Q3 witnessed… Read More

December 13, 2023 @ 1:20 pm By JD Alois  |  

Rising interest rates, banking trauma, government spending, and geopolitical strife have caused private money to hit the pause button when it comes to investing. CI has reported repeatedly that private equity and venture capital have cratered in the last year. And it makes sense. Why… Read More

December 13, 2023 @ 9:41 am By Omar Faridi  |  

Growth of the UK economy in November was reportedly centered on London, according to the latest NatWest Regional PMI survey. Inflationary pressures were also strongest in the capital, “with firms there recording the steepest rises in both input costs and average prices charged for goods… Read More

December 12, 2023 @ 11:33 pm By Omar Faridi  |  

The top-5 identity fraud types in 2023 are: AI-powered fraud, money muling networks, fake IDs, account takeovers and forced verification. This, according to an update from Sumsub. Sumsub recently released its third annual Identity Fraud Report of the year. The report provides a comprehensive analysis… Read More

December 12, 2023 @ 5:38 pm By Omar Faridi  |  

Policymakers need a “fuller view” of consequences of illicit flows, including tallies of the fiscal, monetary, financial, and structural costs, according to an update from the IMF. The fight against financial crime isn’t lost, but the world “needs to do more to limit the economic… Read More

December 12, 2023 @ 5:02 pm By Omar Faridi  |  

Mortgage rates falling from a 23-year high have brought some early “holiday cheer for home shoppers and sellers,” according to a recent US market update. The latest Zillow (NASDAQ: Z and ZG) market report shows monthly costs “for a new mortgage are falling, inventory is… Read More

December 12, 2023 @ 12:42 pm By Omar Faridi  |  

Thousands of people hunting for tickets, cars, pets, and much more were tricked into handing money over to fraudsters this year, “with purchase scams rising by more than two fifths (42%), compared to last year,” according to an update from Lloyds Banking Group. Last month,… Read More

December 12, 2023 @ 8:22 am By Omar Faridi  |  

The British Business Bank, the UK’s economic development bank, has appointed Ian Connatty as its first Deputy Chief Investment Officer. This is in addition to his role “as Managing Director, Direct and Co-investment, British Patient Capital, a commercial subsidiary of the Bank.” The Deputy Chief… Read More

December 12, 2023 @ 8:17 am By Omar Faridi  |  

The latest Royal Bank of Scotland Report on Jobs survey pointed to a renewed rise in hiring activity across Scotland in November. As mentioned in a blog post, mild expansions were signaled for “both permanent placements and temp billings amid reports of successful recruitment campaigns… Read More

December 12, 2023 @ 8:07 am By Omar Faridi  |  

The European Central Bank (ECB) has shared its latest Consumer Expectations Survey results. As noted in an update posted by the ECB, when compared with September 2023: median consumer inflation expectations for the next 12 months and for three years ahead remained unchanged; expectations for… Read More

December 11, 2023 @ 9:43 pm By Michael Wong  |  

Mumbai-based Non-Banking Financial Company (NBFC), Ashv Finance, part of the Aavishkaar Group, has announced raising $10 million in fresh funding from Encourage Capital. This round of funding marks a pivotal step for the company in expanding its services across India. Intellecap served as the exclusive… Read More

December 11, 2023 @ 9:29 pm By JD Alois  |  

Elizabeth Gorz, a former Legislative Aide in the Michigan State Senate, Senior Policy Advisor to former Michigan Governor Rick Snyder (from 2011 to 2019), has been selected as the American Fintech Council as Head of Legislative Affairs and Chief Strategy Officer. Gorz was most recently… Read More

December 11, 2023 @ 1:54 pm By JD Alois  |  

A choppy venture capital and private equity market continues during November, according to S&P Global Market Intelligence. The number of deals globally numbered 848 in November, down from October when 992 deals were reported.  Last year’s November saw 1,192 deals completed. In a slightly positive… Read More

December 11, 2023 @ 10:27 am By Tony Zerucha  |  

Marqeta executives predict that artificial intelligence (AI), the evolution of credit cards, and the increasing demand for customer choice will be important trends in 2024. CEO Simon Khalaf said the boring old credit card should get a facelift next year. While proving extremely popular, with… Read More

December 11, 2023 @ 8:47 am By Tony Zerucha  |  

Veriff, a global identity verification (IDV) provider, this week released Veriff Identity Fraud Report 2024. This analysis of global customer data suggests that overall fraud incidents are up 20% compared to last year’s findings. The authors believe this overall increase is a result of the rise in impersonation fraud and the availability of more… Read More

December 10, 2023 @ 6:28 pm By Omar Faridi  |  

Sagard, a global multi-strategy alternative asset management firm with over US$15B in assets under management, signed a definitive agreement to acquire a strategic stake in Performance Equity Management (PEM), a private equity firm “with over $8.9B in assets under management and two decades of demonstrated… Read More

December 10, 2023 @ 6:25 pm By Omar Faridi  |  

Oxane Partners, a technology-driven solutions provider to private markets, announced that it has achieved global information security accreditations by successfully completing Systems and Organizations Control (SOC) audits and the International Organization for Standardization (ISO) 27001 certifications. These accreditations underscore Oxane’s commitment “to maintaining the highest… Read More

December 8, 2023 @ 6:37 pm By Omar Faridi  |  

Pacaso, the technology-enabled real estate marketplace that helps people buy, co-own, and sell a luxury second home, releases its third annual Top Second Home Markets Report, identifying “the leading luxury second home markets for 2023 and introducing the top markets to watch in 2024.” The… Read More

December 8, 2023 @ 1:19 pm By Omar Faridi  |  

CME Group, which claims to be one of the world’s leading derivatives marketplaces, reported its November 2023 market statistics, “reaching an average daily volume (ADV) of 28.3 million contracts during the month, an increase of 21% over 2022 and the company’s highest-ever November ADV on… Read More