Global

October 19, 2020 @ 2:03 pm By Samantha Hurst  |  

SME funding provider Accelerated Payments  (AP) announced on Monday it secured a €20 million senior debt line from leading asset manager Channel Capital Advisors to expand AP’s receivables financing capability. Founded in 2017, AP provides finance to businesses with an immediate need for working capital… Read More

October 19, 2020 @ 12:43 pm By JD Alois  |  

Funding Xchange, a marketplace for UK lenders, has published its Q4 Monitor Report on SME lending and, according to its research, there are signs of a “tentative” recovery in the UK. As one may anticipate, SME lending tanked as COVID consumed the world. In fact,… Read More

October 19, 2020 @ 10:24 am By JD Alois  |  

This past week, the ambitious Filecoin project finally went live. Filecoin seeks to become the world’s largest decentralized storage network. Several years ago, Filecoin raised capital via CoinList in a token offering that raised over $200 million. CoinList was one of several listing marketplaces and… Read More

October 19, 2020 @ 9:55 am By JD Alois  |  

Jerome Powell, Chairman of the Board of Governors of the US Federal Reserve, participated in a virtual panel today hosted by the International Monetary Fund (IMF) on the topic of Central Bank Digital Currency (CBDCs). Powell said the Fed is committed to considering a CBDC… Read More

October 19, 2020 @ 9:00 am By Omar Faridi  |  

Paul Grewal, Chief Legal Officer at Coinbase, says that trust is built through “transparency and honesty.” Grewal, the former VP and Deputy General Counsel at Facebook, writes in a blog post that as Coinbase continues its journey toward becoming the “most trusted” venue for traders… Read More

October 19, 2020 @ 8:28 am By JD Alois  |  

Curve Credit has selected Thought Machine’s Vault product to power its online lending service, according to a note from the company. Curve is an aspiring digital bank that enables its users to consolidate cards and accounts into a single app and smart card. Curve offers a… Read More

October 19, 2020 @ 8:02 am By Omar Faridi  |  

The COVID-19 crisis has led to major changes in how financial services professionals prefer to do their jobs in the future. Around 50% of workers in the financial sector say they would like to keep working from the comfort of their home for at least… Read More

October 18, 2020 @ 10:51 pm By Omar Faridi  |  

ING Bank, which is part of the ING Group (AMS: INGA), a Dutch multinational banking and financial services corporation headquartered in Amsterdam, has confirmed that it will continue supporting startups focused on Fintech solutions. ING and the United Nations Children’s Fund (UNICEF) will be working… Read More

October 18, 2020 @ 10:10 pm By Samantha Hurst  |  

  FinTech Australia announced on Monday it has made several new board appointments and has elected Paypa Plane founder and CEO Simone Joyce as Chair.  The three new appointments include:  Marie Mortimer, managing director of Loans.com.au and  director of FinTech QLD.  Nathan Walsh, Co-founder and… Read More

October 18, 2020 @ 9:55 pm By Omar Faridi  |  

Ava Labs, an organization focused on building Avalanche so that the platform can empower people to create “an open, simple, and democratic internet of finance,” notes that Avalanche has integrated with Magic to bring passwordless authentication to the blockchain based platform. The Ava Labs team… Read More

October 18, 2020 @ 6:07 pm By Omar Faridi  |  

Israel based Regtech firm Shield was recently chosen to join the IBM Cloud for Financial Services ecosystem. Many financial institutions have been migrating or deploying new applications on Cloud-powered platforms that streamline routine banking and related business processes. We recently caught up with Eran Noam,… Read More

October 18, 2020 @ 5:05 pm By Omar Faridi  |  

David Jimenez Maireles, Customer Experience Officer at TNEX, a Vietnam based digital bank, claims that despite the skeptics, banks have been “no laggard when it comes to cloud adoption.” Banks have been migrating incrementally, and today “the average bank has 58% of its workloads in… Read More

October 18, 2020 @ 5:03 pm By Omar Faridi  |  

Many decentralized finance (DeFi) assets have experienced a strong bounce or recovery as Ethereum (ETH) fundamentals appear to look “stronger than ever,” according to a report from OKCoin. The report pointed out that DeFi tokens have been following Bitcoin (BTC) and Ethereum’s (ETH) price movements…. Read More

October 18, 2020 @ 4:50 pm By Omar Faridi  |  

Marc Sebag, the Chief Risk Officer at October, a top European online lender, had answered important questions last year (in June 2019) about defaults and the continuous improvements that the platform makes to its scoring model. The October team acknowledges that the COVID-19 outbreak has… Read More

October 18, 2020 @ 3:35 pm By Omar Faridi  |  

An investor has reportedly been attempting to get her funds out of one of the UK’s largest peer to peer (P2P) lending platforms, RateSetter, since August 2020. According to a report from the Guardian, the investor (Michelle Johnson) was told by RateSetter’s management that her… Read More

October 17, 2020 @ 6:30 pm By Omar Faridi  |  

Latin American (LatAm) economies are growing rapidly and the region presents “a unique set of circumstances that is unlike any other region in the world,” according to a report from Atlantico, titled “Latin American Digital Transformation 2020.” The report notes that this uniqueness has helped… Read More

October 17, 2020 @ 6:21 pm By Omar Faridi  |  

The first phase of Bifrost, which is IRISnet’s decentralized finance (DeFi) and interchain testnet, is scheduled to go live on October 19, 2020. As noted by IRISnet (which aims to serve as an interchain service hub for next-generation distributed applications), their irishub solution is based… Read More

October 17, 2020 @ 5:00 pm By Xu Gao  |  

Insurtech Platform Nanyan Information Technology Secures 250-million-yuan Series C Round of Financing On October 14th, Chinese Insurtech platform Nanyan Information Technology (hereinafter referred to as “Nanyan”) announced that it had secured 250 million yuan in a Series C round of financing. The investment was led… Read More

October 17, 2020 @ 3:53 pm By Omar Faridi  |  

The recently proposed merger between Yandex, a major Russia-based tech firm, and banking challenger Tinkoff will not be finalized because the bank’s founder Oleg Tinkov has walked away from the deal. Tinkoff’s management confirmed that all negotiations between the two parties have now been “terminated,… Read More

October 17, 2020 @ 12:25 pm By Omar Faridi  |  

The global digital banking platform market size is expected to reach $10.87 billion by 2027, which means that it’s expanding at about a 13.6% CAGR (compounded annual growth rate), according to estimates from Allied Market Research (AMR). A release that summarizes that findings of the… Read More