General News

July 26, 2023 @ 9:21 pm By JD Alois  |  

As was expected, the US Federal Reserve increased benchmark rates by 25 basis points today. Markets had long anticipated the move, which pushed rates to the highest they have been in over 22 years. In the Federal Open Market Committee statement, the bank said that… Read More

July 26, 2023 @ 1:17 pm By Omar Faridi  |  

Fintech unicorn Tipalti recently announced an additional $150M in growth financing, bringing the company’s total equity and debt raise to more than $700M. Led by JP Morgan Chase Bank and Hercules Capital, this incremental growth financing will enable Tipalti to further invest in product innovation… Read More

July 26, 2023 @ 7:53 am By Omar Faridi  |  

Thales (Euronext Paris: HO) announces that it has reached an agreement with Thoma Bravo, a major software investment firm, for the acquisition of 100% of Imperva, a US-based data and application cybersecurity company, for an enterprise value of $3.6 billion1. With this acquisition, Thales is… Read More

July 26, 2023 @ 7:43 am By Omar Faridi  |  

Digital bank N26 announced the appointment of Carina Kozole as Chief Risk Officer and Managing Director of N26 AG. She will begin in her new role later this year, and will “assume responsibility for risk management at the digital bank.” Carina reportedly brings “with her… Read More

July 26, 2023 @ 6:46 am By Omar Faridi  |  

For the first time, DriveWealth says it is expanding the range of tradeable asset classes on its platform: their partners can now “build options trading experiences all within their investing APIs.” Equity options have “grown in popularity with retail investors over the past decade, largely… Read More

July 25, 2023 @ 6:38 pm By Omar Faridi  |  

Chime is pleased to announce that Madhu Muthukumar has joined the company as our first Chief Product Officer (CPO). This appointment furthers Chime’s commitment “to creating the next wave of innovative products and services critical to their members’ needs and their long-term success as we… Read More

July 25, 2023 @ 5:32 pm By JD Alois  |  

The Federal Bureau of Investigation (FBI) says that in 2022, investment scams were the costliest type of fraud in the US. The FBI states in its Internet Crime Report 2022 (IC3) that fraud complaints jumped from $1.45 billion in 2021 to $3.31 billion in 2022…. Read More

July 25, 2023 @ 1:23 pm By JD Alois  |  

The UK Financial Conduct Authority (FCA) has issued a statement on the recent bust-up over Coutts canceling a high-profile account due to its internal “values.”  Coutts, which is owned by NatWest, shut down the account of former UKIP leader and noted Brexit supporter Nigel Farage… Read More

July 25, 2023 @ 10:28 am By JD Alois  |  

Global private equity and venture capital deals with a valuation of one billion dollars are more are experiencing their slowest-ever year since 2019, according to S&P Global Market Intelligence. For the year until July 13th, there have been 33 deals at $99.47 billion. During Q2,… Read More

July 24, 2023 @ 11:25 pm By Omar Faridi  |  

Providing easy access to essential ESG reporting standards enables auditors “to provide assurance over ESG reporting.” Wolters Kluwer Corporate Performance & ESG (CP & ESG) (EURONEXT: WKL) has “added ESG standards, tailored to support Internal Audit workflow and practices, to its cloud-based TeamMate+ global audit… Read More

July 24, 2023 @ 4:36 pm By Omar Faridi  |  

Transaction volumes across US supply chains grew at their fastest pace in more than two years as domestic trade activity showed renewed signs of resilience following a recent slump, according to an update from TradeShift. Data from Tradeshift’s Q2 Index of Global Trade Health shows… Read More

July 24, 2023 @ 12:23 pm By JD Alois  |  

The Prudential Regulation Authority (PRA), part of the Bank of England, has assessed a “record fine” on Credit Suisse due to its exposure to Archegos Capital Management. Archegos collapsed spectacularly in 2022 leaving losses of billions of dollars. The failure has led to both criminal… Read More

July 24, 2023 @ 10:42 am By JD Alois  |  

The UK Financial Conduct Authority (FCA) published final guidance on the new Consumer Duty initiative last year. Firms are expected to implement the requirements by the end of this month. Consumer Duty sets a “standard of care” for financial services firms in retail markets aiming… Read More

July 24, 2023 @ 8:37 am By Omar Faridi  |  

Mediobanca Group, Italy’s largest investment bank, has signed a partnership with Founders Factory, the London-based global company builder and early-stage investor, to launch a new fintech venture studio and accelerator. This joint venture, underpinned by an overall €12 million investment from Mediobanca, will facilitate innovation… Read More

July 23, 2023 @ 6:37 am By Omar Faridi  |  

Institutional Shareholder Services Inc. (ISS), a provider of corporate governance and sustainable investment solutions to financial market participants, launched ISS Exchange, a streamlined, mobile-friendly voting solution, “to augment its Global Proxy Distribution (GPD) offering.” ISS Exchange is the latest in ISS’ suite of outsourced solutions… Read More

July 22, 2023 @ 6:47 pm By Omar Faridi  |  

Rapyd, the global Fintech-as-a-Service provider, today announced the appointment of Dr. Shlomit Wagman, former Director-General of the Israel Money Laundering and Terror Financing Prohibition Authority (IMPA), Head of the Israeli Delegation to the FATF, Chair of the FATF operational working group, and a Harvard-affiliated scholar,… Read More

July 22, 2023 @ 5:50 pm By Omar Faridi  |  

Snapsheet, which claims to be an industry leader specializing in claims management technology, today announced a strategic investment from State Farm Ventures. Through its innovative platform, Snapsheet streamlines and “expedites the claims process, providing insurers and policyholders with a seamless, user-friendly experience.” Snapsheet offers “a… Read More

July 21, 2023 @ 9:33 pm By Omar Faridi  |  

Channel Capital Advisors LLP has hired Nate Hartley as its new Head of Origination for the Americas. Established in 2007, Channel is an FCA-regulated alternative investment fund manager (AIFM). It is a recognized funding partner of choice in “the working capital and fintech lending sector,… Read More

July 20, 2023 @ 5:37 pm By JD Alois  |  

Puerto Rico is unique in the fact it is part of the United States yet residence do not pay any federal taxes. It is part of the concept of taxation without representation and Puerto Rico does not have any voting members in Congress. This fact,… Read More

July 19, 2023 @ 9:31 am By Omar Faridi  |  

Bowmark Capital, the mid-market private equity firm, has invested significantly in Lendscape, a technology provider to the global secured commercial finance market. The company’s software and technology “underpin the secured lending offerings of over 120 banks and financial institutions worldwide.” Its platform supports the management… Read More