General News

September 18, 2023 @ 7:34 am By Omar Faridi  |  

Boston Consulting Group (BCG), a management consulting firm, announced a new partnership with Doconomy, a provider in climate technology, aimed at supporting financial institutions in the development of their sustainability agendas. Doconomy has developed “an ecosystem of financial tools to enable users to make environmentally… Read More

September 18, 2023 @ 7:22 am By Omar Faridi  |  

RAM Holdings Berhad, the holding company of the largest credit rating agency in Malaysia and Southeast Asia, has entered into a partnership with MVGX Tech and Carbon Rating Malaysia Sdn Bhd (CRM) to strengthen RAM’s ESG rating capabilities. MVGX is a carbon Software-as-a-Service (SaaS) company and… Read More

September 17, 2023 @ 7:35 pm By Tony Zerucha  |  

The IBM Institute for Business Value, in collaboration with the Banking Industry Architecture Network and Red Hat, this week released findings from a new global study that reveals significant gaps between the stated priorities of surveyed banking executives and the customers they serve. The research… Read More

September 17, 2023 @ 7:32 pm By Tony Zerucha  |  

One out of every six Americans is financially vulnerable, the highest percentage since before the pandemic. That is one finding in the Financial Health Pulse 2023 U.S. Trends Report, released this week by the Financial Health Network. Financially vulnerable consumers typically struggle to meet expenses,… Read More

September 17, 2023 @ 5:15 pm By Michael Wong  |  

The Hong Kong Monetary Authority (HKMA), the city’s central bank, has released its Q2/2023 payment card statistics, revealing that the total number of credit cards in circulation in Hong Kong reached 19.71 million by the end of the second quarter. This indicates a marginal growth… Read More

September 17, 2023 @ 3:11 pm By Michael Wong  |  

Nanofiber Quantum Technologies Inc. (NanoQT) announced a successful $8.5 million fundraising round, anchored by  global venture capital firms. The round was backed by US’s Phoenix Venture Partners (PvP) and Japan’s JAFCO Group Co Ltd, SPARX Group Co Ltd, Keio Innovation Initiative, Inc. (KII), and Waseda… Read More

September 17, 2023 @ 2:46 pm By Michael Wong  |  

In a landmark move to fortify commercial ties between Hong Kong and Saudi Arabia, the Saudi Arabia-China Entrepreneurs Association (SCEA) signed a Memorandum of Understanding (MoU) with the Hong Kong Trade Development Council (HKTDC). The MoU was inked during the eighth Belt and Road Summit…. Read More

September 17, 2023 @ 11:11 am By Tony Zerucha  |  

SolasAI, a provider of market-proven algorithmic fairness AI software, this week announced enhancements to the SolasAI Bias Explainability & Mitigation Library to produce fairness results faster and more efficiently while enabling companies to safely and quickly innovate with artificial intelligence. The update reduces fairness results… Read More

September 17, 2023 @ 10:39 am By Omar Faridi  |  

Nagraj Kashyap, Priya Saiprasad, and Samir Kumar announced the launch of Touring Capital, a venture capital firm focused on investing in the next generation of early-growth stage, AI-powered SaaS startups around the world. Touring Capital’s founding partners previously “led M12, Microsoft’s Venture Fund, and Qualcomm… Read More

September 17, 2023 @ 10:07 am By Omar Faridi  |  

CME Group, the derivatives marketplace, and The Depository Trust & Clearing Corporation (DTCC), the post-trade market infrastructure for the global financial services industry, announced their enhanced cross-margining arrangement has received Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) approvals. The arrangement will… Read More

September 16, 2023 @ 5:12 pm By Tony Zerucha  |  

While the Great Resignation might have subsided, the Crowe Bank Compensation and Benefits Survey shows that banks continue to struggle to retain younger talent. According to the 2023 edition, nearly 65% of respondents noted it’s been somewhat or very challenging to remain competitive among the… Read More

September 16, 2023 @ 5:04 pm By Tony Zerucha  |  

Data from TransUnion shows that rising interest rates have pooped the credit union account origination party. The newly released Q3 Credit Union Market Perspectives Report can be viewed here. Interestingly, borrowers continue to take advantage of existing credit lines as balances across most credit products… Read More

September 16, 2023 @ 4:51 pm By Omar Faridi  |  

Riskified (NYSE:RSKD), a firm focused on ecommerce fraud and risk intelligence, published “Policy Abuse and Its Impact on Merchants: Global Benchmarks 2023,” revealing how consumer misuse of refunds, returns, and promotional programs, “alongside resellers, is forcing retailers and other merchants to strike a difficult balance… Read More

September 16, 2023 @ 4:48 pm By Michael Wong  |  

The International Finance Corporation (IFC), a member of the World Bank Group, is allocating a $10 million loan to Uzbekistan’s Ipak Yuli Bank in a bid to bolster the bank’s lending initiatives directed at small and medium enterprises (SMEs), especially those owned by women. The… Read More

September 16, 2023 @ 9:30 am By Omar Faridi  |  

The US Treasury’s proposed ‘broker’ rules expand surveillance “well beyond a ‘third party doctrine’ that’s already stretched thin,” according to the team at Coin Center, a crypto policy think tank. Peter Van Valkenburgh, Director of Research at CoinCenter, Board Member at the Zcash Foundation, notes… Read More

September 15, 2023 @ 6:18 pm By Omar Faridi  |  

CertifID, a wire fraud protection company, today announced $20M in new funding. CertifID’s Series B raise was led by Arthur Ventures, which also invested in CertifID’s $12.5M Series A in May 2022. CertifID’s Series B investment round comes on “the heels of strong adoption of… Read More

September 15, 2023 @ 2:11 pm By Tony Zerucha  |  

SMB fintech Nav this week launched Nav Prime, along with a credit-building card for small businesses. They believe it’s the latest tool to help small businesses improve their financial health. Nav helps small businesses transparently understand all of their financing options and know what they… Read More

September 15, 2023 @ 11:12 am By Tony Zerucha  |  

Nearly half of borrowers are experiencing considerable stress following the conclusion of the federal student loan forbearance. More than one in four are concerned that resuming payments will force them to take on more debt to make ends meet, according to a new survey by… Read More

September 15, 2023 @ 9:33 am By Omar Faridi  |  

Forge Global has shared the latest Private Market Update with CI. The report, prepared by global private securities marketplace, Forge Global (NYSE: FRGE), includes key insights based on the most current developments. The Forge Private Market Index, which tracks the most liquid private companies on… Read More

September 14, 2023 @ 8:47 am By JD Alois  |  

N26, a leading European digital bank, has appointed a new General Manager for Italy and Southern Europe. According to a statement from the bank, Claudio Bedino will lead the charge in “one of the most important banks” for the Fintech. Bedino will step into the… Read More