Global

April 18, 2020 @ 2:29 pm By Omar Faridi  |  

The International Chamber of Commerce (ICC), which is considered the world’s largest and “most representative” business organization, has requested governments and reserve banks across the globe to nullify any rules or laws that prevent the use of paperless trading. The ICC said that authorities must… Read More

April 18, 2020 @ 1:38 pm By Omar Faridi  |  

Trade Republic, a mobile-based investing app, has secured €62 million (appr. $67 million) in capital through a Series B funding round led by Accel and the Founders Fund. The money raised will be used to expand the company’s line of products and services. The funds… Read More

April 18, 2020 @ 11:38 am By Omar Faridi  |  

Google is reportedly planning to compete with Apple by introducing its own branded payments card. According to TechCrunch, the Silicon Valley-based multinational corporation is in the process of creating both virtual and physical debit cards. These new payment cards will be co-branded with financial services… Read More

April 18, 2020 @ 11:28 am By Omar Faridi  |  

Smart money app Snoop is launching its services, which aim to assist consumers with better managing their finances during the Coronavirus (COVID-19) crisis. Established by Jayne-Anne Gadhia, a former executive at digital bank Virgin Money, the Snoop Fintech app leverages Open Banking standards and technology,… Read More

April 17, 2020 @ 3:43 pm By JD Alois  |  

SME Marketplace lending platform Funding Circle (LSE:FCH) has been approved by the British Busines Bank as a lender under the  Coronavirus Business Interruption Loan Scheme (CBILS). The online lender becomes one of a handful of Fintechs in the UK facilitating the program. Funding Circle said… Read More

April 17, 2020 @ 1:21 pm By Samantha Hurst  |  

Canadian regtech company iComply Investor Services announced on Friday it has joined forces with Microsoft to offer its intelligent KYC and AML services through over 64,000 Microsoft solutions providers worldwide. The collaboration reportedly enables financial services providers to fast track their digital transition and enable a… Read More

April 17, 2020 @ 10:13 am By JD Alois  |  

The Monetary Authority of Singapore (MAS) is telling customers of financial institutions to stop going to brick and mortar locations during the COVID-19 pandemic. MAS is urging consumers to use digital, email, and telephone channels as far as possible. Of course, MAS is telling the… Read More

April 17, 2020 @ 9:05 am By JD Alois  |  

This is interesting because it is indicative of the economic impact of the COVID-19 pandemic. The UK Competition and Markets Authority (CMA) has provisionally approved Amazon’s (NASDAQ:AMZN) investment in Deliveroo. Before the Coronavirus, the investment was not a given as the CMA was “concerned that… Read More

April 17, 2020 @ 8:40 am By Omar Faridi  |  

US Fintech firm Robinhood is reportedly getting ready to finalize its investment round worth an estimated $200-$250 million. Following the successful completion of this round, the Menlo Park-based brokerage firm would be valued at roughly $8 billion, according to recent reports. Sources familiar with the… Read More

April 17, 2020 @ 7:59 am By JD Alois  |  

Hannah Nixon, the former CEO of the UK Payment Systems Regulator, has been hired by Curve as an Advisor to the Executive, according to a note from the Fintech. Nixon is expected to help guide Curve’s regulatory strategy as the company grows. Curve is a… Read More

April 17, 2020 @ 7:50 am By Omar Faridi  |  

Banco Santander S.A. (Santander Group) (BME:SAN), the world’s 16th-largest banking institution and financial services company based in Madrid, has officially introduced PagoFX, its international payments application for UK customers. Last month, Santander had revealed that it was in the final stages of developing its cross-border… Read More

April 16, 2020 @ 10:42 pm By Omar Faridi  |  

Cryptocurrencies and their underlying blockchain technology are often criticized for not having enough practical use cases. There are still relatively few merchants or retailers who will accept virtual currencies as payment, because of the challenges associated with off-ramping into fiat currencies, which are more practical… Read More

April 16, 2020 @ 4:47 pm By JD Alois  |  

Benchmarking Study Tallies $304.5 Billion in Alternative Finance Transaction Volumes During 2018 The Cambridge Centre for Alternative Finance (CCAF), part of the University of Cambridge Judge Business School, has published the single most comprehensive report on the evolution of alternative finance. The benchmarking report provides… Read More

April 16, 2020 @ 4:23 pm By Samantha Hurst  |  

Payments platform Stripe announced on Thursday the extension of its Series G funding round. The company reported it is raising an additional $600 million from investors, which includes Andreessen Horowitz, General Catalyst, GV, and Sequoia. Founded in 2010, Stripe describes itself as a technology company… Read More

April 16, 2020 @ 11:01 am By JD Alois  |  

The Swiss Financial Market Supervisory Authority (FINMA) has distributed a statement on Libra’s application for a “payment system license.” Initiated by Facebook, Libra is a digital currency attempting to facilitate payments globally outside of the traditional payments rails. The Libra Association is headquartered in Geneva,… Read More

April 16, 2020 @ 10:34 am By JD Alois  |  

The Libra Association, Facebook’s push to create a global non-sovereign digital currency, is applying for a Payment System License from the Financial Markets Supervisory Authority (FINMA) in Switzerland. In addition to applying for the FINMA license and updating the white paper, the Libra Foundation reports… Read More

April 16, 2020 @ 9:50 am By JD Alois  |  

Digital currency, like Bitcoin, CBDCs or stablecoins, will get a boost from the COVID-19 pandemic, according to a survey by the Economist Intelligence Unit (EIU). The report, conducted during January and February, was sponsored by crypto.com. The EIU consulted with Eva Julin, deputy head general… Read More

April 16, 2020 @ 9:16 am By JD Alois  |  

Varengold Bank (VdK), a marketplace bank that is focused on Fintech, has joined the Association of German Credit Platforms. The credit institute based in Hamburg focuses on the business of financing online lending marketplaces and thus aligns with the Varengold. This is the first inclusion… Read More

April 16, 2020 @ 8:59 am By JD Alois  |  

Peer to peer lending platform Robo.cash has distributed the results of a survey of European P2P investors inquiring about their financial results in 2019. Robo.cash reports that over half (52.8%) of the participants said that the alternative lending brought them the highest returns during 2019…. Read More

April 16, 2020 @ 8:48 am By Omar Faridi  |  

OpenPayd, an established API-based banking-as-a-service (BaaS) provider, has upgraded its payments functionality and capabilities by enabling direct access to the SEPA (Single Euro Payments Area) payment scheme. The integration will allow OpenPayd’s business clients, which mainly includes online or digital marketplaces, merchant acquirers and other… Read More