General News

September 20, 2023 @ 8:38 am By Michael Wong  |  

In a significant move towards bolstering the global fight against climate change, HSBC announced today its commitment to allocate $1bn in financing to early-stage climate tech startups worldwide. This ambitious initiative aims to accelerate the development of innovative solutions in various domains, including electric vehicle… Read More

September 19, 2023 @ 10:38 am By Nick Morgan  |  

The world of investment banking has witnessed significant transformations over the decades, particularly concerning small-cap IPOs and access to capital. In this Capital Ideas interview with Vince Molinari, the CEO of Fintech.TV and an experienced figure in investment banking, ICAN’s Dara Albright and Nick Morgan… Read More

September 19, 2023 @ 8:36 am By JD Alois  |  

The UK Financial Conduct Authority (FCA) has released its initial report on potential discrimination at UK banks. The report follows the saga of Nigel Farage, a vocal political personality and former UKIP leader, who had his account shuttered at Coutts after management decided his values… Read More

September 19, 2023 @ 8:15 am By Omar Faridi  |  

Gatehouse Bank, the Shariah-compliant challenger bank, has released new research demonstrating that the UK’s money mindset is shifting towards saving. The research looked at UK adults’ attitudes towards money, “assessing the key factors that influence them, why they look to save or spend their money… Read More

September 18, 2023 @ 11:19 pm By Omar Faridi  |  

In Q2 2023, UK private equity (PE) deal value “increased 13.2% quarter-over-quarter (QoQ) while the estimated deal count increased for the fourth straight quarter, signalling the start of a potential recovery in UK dealmaking,” according to an update from Pitchbook. Pitchbook noted that “in light… Read More

September 18, 2023 @ 10:11 pm By Omar Faridi  |  

Despite a challenging economic environment, 101 new businesses were created every hour across the UK in the first half of 2023, according to research by iwoca, one of Europe’s small business lenders. Analysis of Companies House data reveals “that over 436,000 businesses were registered in… Read More

September 18, 2023 @ 8:45 am By Omar Faridi  |  

The scams deluge that flourished during the COVID-19 pandemic and proliferates yet today has heightened the public’s fraud anxiety. Rampant fraud is also “reshaping individuals’ expectations about organizations’ obligations to protect them – and the compromises they are willing to make to enhance security” –… Read More

September 18, 2023 @ 8:22 am By Tony Zerucha  |  

FV Bank, the U.S. licensed global digital bank that offers a vertically integrated suite of traditional and digital asset banking and custody services, this week appointed Jennifer Yaris Rodríguez as its senior trust officer. The move is effective immediately. As senior trust officer, Rodriguez will… Read More

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