Global

July 19, 2024 @ 4:29 pm By Omar Faridi  |  

Velocity Global, which claims to be the world’s expert on work, announced that it has successfully opened new entities in El Salvador and Georgia, “allowing customers easy and compliant access to talent in these economies.” The new entities will open opportunities for organizations and local… Read More

July 19, 2024 @ 12:50 pm By JD Alois  |  

Yesterday, it was reported that CHAPS, or the Clearing House Automated Payment System, the system that enables real-time gross settlement payments in the United Kingdom, had gone offline, impacting some “high-value” payments and transfers. The Bank of Engaland did not reveal the cause of the outage,… Read More

July 19, 2024 @ 12:40 pm By Omar Faridi  |  

The Laboratório de Inovações Financeiras e Tecnológicas (LIFT), a joint initiative of Banco Central do Brasil (BCB) and Federação Nacional de Associações dos Servidores do Banco Central, announces the resumption of activities following a hiatus in 2023. Since its inception bac in 2018, the laboratory… Read More

July 19, 2024 @ 12:18 pm By Omar Faridi  |  

In an era plagued with AI-powered impersonation and sophisticated deep fakes, accurately verifying digital identity is more critical than ever. This, according to an update shared by Prove. However, as we enter this AI era, businesses are at risk of adopting a cure that’s equally… Read More

July 19, 2024 @ 12:10 pm By Omar Faridi  |  

The Bank of England has announced the appointment of members of the Enforcement Decision Making Committee. Following an external recruitment process and consultation, the Bank of England (Bank) has appointed three new members “to its Enforcement Decision Making Committee (EDMC) taking the total to nine.”… Read More

July 19, 2024 @ 6:16 am By Omar Faridi  |  

Mid-market private equity investment activity in the UK declined by 11% in the first half of 2024, as challenging macroeconomic conditions persisted, according to KPMG UK’s latest mid-market Private Equity analysis. The firm’s most recent M&A research study revealed “that 321 mid-market transactions were completed… Read More

July 18, 2024 @ 4:02 pm By JD Alois  |  

Online investment platform OurCrowd has invested in CytoReason as part of an $80 million funding round. OurCrowd joined a group of big names in supporting the firm as NVIDIA, Pfizer, and Thermo Fisher all participated in the funding round. Bank Hapoalim was said to have… Read More

July 18, 2024 @ 2:36 pm By Omar Faridi  |  

In another step towards contributing to the development of the ETF market in Brazil, Nu Asset Management (Nubank’s investment fund manager) announces two new solutions: the Nu Ibov Smart Low Volatility B3 (LVOL11) and the Nu Ibov Smart High Beta B3 (HIGH11). The two ETFs… Read More

July 18, 2024 @ 11:22 am By JD Alois  |  

The Bank of England is reporting issues with CHAPS or Clearing House Automated Payment System, the platform that enables real-time gross settlement payments in the United Kingdom. The Bank stated that the issues impacted some “high-value and time-sensitive payments, including some house purchases.” The Bank… Read More

July 18, 2024 @ 10:26 am By Omar Faridi  |  

State Street (NYSE: STT) is currently examining various options for settling payments on blockchain, according to a report from Bloomberg. State Street, which is focused on the financial services and banking sector, is assessing if it should introduce its own stablecoin, issuing its own deposit… Read More

July 18, 2024 @ 9:54 am By Omar Faridi  |  

Bondora reveals that June was a “record-breaking” month for loan originations, thanks to steady growth in Finland and the Netherlands. Overall, Bondora Group’s loan originations has reportedly “totaled €24,567,566 – the highest origination amount ever.” In June, Bondora pointed out that 1,507 more people “created… Read More

July 18, 2024 @ 9:52 am By Omar Faridi  |  

July 20, 2024, will mark exactly one year since the Federal Reserve announced the launch of the notable FedNow Service, which has allowed customers at participating financial institutions to make payments that can be sent and received at any time, immediately available to use. The… Read More

July 18, 2024 @ 9:14 am By Omar Faridi  |  

Digital identity is not the easiest concept to define, according to an update from Juniper Research. That’s because it overlaps with other, similar, areas. Juniper Research noted that the crossover “with areas such as security, privacy and data management can be significant, and in some… Read More

July 18, 2024 @ 9:06 am By Omar Faridi  |  

Smart Pension, one of the UK’s workplace pension providers, announces that it has signed a commercial agreement with STM Group, to take on members of the Options Workplace Pension Trust (OWPT) to the Smart Pension Master Trust through a bulk transfer. The transfer, subject to… Read More

July 17, 2024 @ 6:06 pm By Omar Faridi  |  

‍Akur8, the insurance pricing solution powered by “transparent” machine learning, is pleased to announce its partnership with Millennial Specialty Insurance, LLC (MSI), which is said to be one of the largest non-carrier-affiliated managing general agencies in the United States. MSI has selected Akur8’s Risk and… Read More

July 17, 2024 @ 4:09 pm By Omar Faridi  |  

Law firm Mishcon de Reya LLP recently shared key insights impacting the Fintech and broader financial services sector. Based in London, Mishcon de Reya services an international community of clients and “provides advice in situations where the constraints of geography often do not apply.” The… Read More

July 17, 2024 @ 12:39 pm By Omar Faridi  |  

Sumsub is pleased to introduce the ‘2024 Fraudlympics,’ ahead of the upcoming competition in Paris this summer. As part of an awareness campaign, Sumsub unveils new internal data revealing that Nigeria is the country with the highest spike in fraud rates, “across a range of… Read More

July 17, 2024 @ 9:26 am By JD Alois  |  

Paris-based Mangopay has announced a global partnership with ManoMano. Mangopay is a European Fintech success story that enables digital payments and specializes in supporting marketplaces. ManoMano is another French Fintech that targets the DIY, home improvement, and gardening sectors. ManoMano currently operates in six markets, including France, Belgium, Spain,… Read More

July 17, 2024 @ 8:43 am By Omar Faridi  |  

OakNorth – the digital bank “for entrepreneurs by entrepreneurs,” has provided a £45.7m loan to investment firms, Veld Capital and Maya Capital, to support the development of a major new hotel at 160 Blackfriars Road. Founded in 2009, Veld Capital is a private investment firm… Read More

July 17, 2024 @ 8:21 am By Omar Faridi  |  

UK Finance has recently cautioned consumers about the prevalence of holiday scams as criminals try to trick people this summer. UK Finance notes that as summer approaches and we look for opportunities to take a break away in the sun, UK Finance’s Take Five to… Read More