Global

March 25, 2022 @ 9:47 am By JD Alois  |  

  The UK Competition and Markets Authority (CMA) has issued a statement outlining its recommendations regarding the pursuit of Open Banking. The statement follows a consultation that was initiated in the spring of 2021. The CMA said its recommendations will guide a future entity that… Read More

March 25, 2022 @ 9:00 am By Omar Faridi  |  

The team at Chetwood Financial has confirmed the acquisition of core banking provider Yobota in order to extend their Banking-as-a-Service (BaaS) capabilities. Established alongside them back in 2016 and developed as a separate business entity, Yobota is a London-headquartered tech firm that has built “a… Read More

March 25, 2022 @ 8:58 am By Tony Zerucha  |  

The United Kingdom’s Financial Conduct Authority (FCA) this week again warned consumers about some of the risks it sees associated with cryptocurrencies. While acknowledging benefits cryptoassets bring, such as the abilities to reduce costs and increase efficiencies, the FCA said they also present risks to… Read More

March 24, 2022 @ 8:35 pm By Omar Faridi  |  

  Surecomp, which claims to be a market leader in international trade finance solutions for banking institutions and corporations, has confirmed that Societe Generale has now gone live with the latest version of its IMEX solution for back-office trade finance processing automation across four nations… Read More

March 24, 2022 @ 6:30 pm By Omar Faridi  |  

ANZ has introduced a virtual banking service, ANZ Plus. Smart, “secure” and built on an updated banking platform, ANZ Plus is specifically designed to give Australia-based consumers a lot more visibility and control of their funds. The first release from ANZ Plus is described as… Read More

March 24, 2022 @ 4:17 pm By Omar Faridi  |  

Global Processing Services (GPS), an international payment tech platform, has announced a strategic partnership with Mastercard (NYSE: MA). This latest announcement “expands on the two firms’ longstanding relationship stretching back over a decade.” GPS and Mastercard have “worked in partnership to launch and scale hundreds… Read More

March 24, 2022 @ 4:01 pm By JD Alois  |  

PayPal Ventures has invested in Cymbio, a marketplace and dropship automation platform, months after the company completed a $20 million Series B round. PayPal Ventures is, of course, the venture arm of payments platform PayPal (NASDAQ:PYPL). Cymbio is a platform that aims to enable brands… Read More

March 24, 2022 @ 3:26 pm By Tony Zerucha  |  

LexisNexis Risk Solutions this week released the results of its latest Cybercrime Report, an analysis of transaction data from the LexisNexis Digital Identity Network in the second half of 2021. The report shows a significant shift to mobile fraud over the last four years, with… Read More

March 24, 2022 @ 1:07 pm By Omar Faridi  |  

UBS (SWX: UBSG) has announced the launch of its Virtual Worker Framework, which is described as a new approach to “flexible” working that will offer US workers in eligible roles with the opportunity “to work 100% remotely.” UBS will begin “a phased implementation of the… Read More

March 24, 2022 @ 12:34 pm By Omar Faridi  |  

Meta (NASDAQ:FB) has launched a partnership with NatWest, the United Kingdom’s largest business bank, in order to provide financial readiness training and other support “to female business owners.” This is available to all women entrepreneurs as part of Meta‘s #SheMeansBusiness program, which “provides digital skills… Read More

March 24, 2022 @ 12:22 pm By JD Alois  |  

The Bank of Mum and Dad United or BOMADU is the newest entry into the neobank sector of Fintech in the UK.According to a release, BOMADU is targeting first-time buyers overcome the home deposit challenge. BOMADU is currently raising seed funding on Seedrs, its first… Read More

March 24, 2022 @ 12:13 pm By JD Alois  |  

UK-based GoCardless, a direct bank payment solution, has announced a fraud prevention tool – Verified Mandates. The new feature is said to combine the Account Information Services (AIS) capabilities of open banking with direct debit to stop fraud before it happens. GoCardless describes its services… Read More

March 24, 2022 @ 12:02 pm By JD Alois  |  

VNX, launched in Liechtenstein in 2022 and registered with the Financial Market Authority (FMA) registered platform for investment in tokenized precious metals, claims title as Europe’s first regulated platform for assets like gold. The first product from VNX is VNX Gold, leveraging Ethereum, representing an… Read More

March 24, 2022 @ 9:14 am By JD Alois  |  

Financement Participatif France (FPF), the French crowdfunding association, has announced the appointment of a new President. According to FPF, Damien Guermonprez has been selected as the new President of the organization. He is currently Executive Chairman of Lemonway. Mathilde Iclanzan has been appointed as Vice President… Read More

March 24, 2022 @ 8:59 am By JD Alois  |  

Raisin, a European digital bank and savings Fintech, has distributed a report on the European savings market claiming deposit inflows have “fallen off a cliff” after record increases. The analysis provided by Raisin indicates that the savers from the eurozone are saving money at a… Read More

March 24, 2022 @ 8:33 am By Omar Faridi  |  

Croatian lender Robo.cash notes that as a result of the FRS rate increase, they are now raising interest rates “on all types of loans.” As noted in the update from Robocash, the new rates “will range from 10% to 13%.” The updated detailed breakdown by… Read More

March 24, 2022 @ 8:26 am By Omar Faridi  |  

According to research commissioned by Payments Bank, Banking Circle, big bank de-risking is “significantly hampering the efforts of many financial institutions to deliver services that empower financial inclusion.” The primary cause appears to be “the risk-averse strategies adopted in response to the financial crisis of… Read More

March 24, 2022 @ 12:56 am By Omar Faridi  |  

Currencycloud, the Fintech firm that is focused on simplifying business in a multi-currency world, has introduced Weekend FX, offering customers with the ability to provide competitive FX rates 24/7, “even after the markets close on a Friday evening.” As noted by Currencycloud: “Gone are the… Read More

March 23, 2022 @ 10:54 pm By Omar Faridi  |  

Finaro, the cross-border payment provider and licensed bank supporting international commerce via simple payments, has announced an expansion of its management team to take advantage of the fast digital commerce growth in three of the fastest-growing e-commerce regions of Europe. Ruben Frimand Nielsen is reportedly… Read More

March 23, 2022 @ 6:09 pm By JD Alois  |  

Investment crowdfunding platform Birchal has surpassed $100 million in financing (as of March 17, 2022), according to an email from the company. As the largest crowdfunding provider in Australia, Birchal is the first to top this amount. As of March 2022, Birchal claims to be… Read More