January 4, 2023 @ 6:55 pm By Omar Faridi  |  

After years of growth, the US Insurtech market faces “a sharp decline in valuations,” according to an update from McKinsey & Company. McKinsey & Company notes that for nearly a decade, Insurtechs have “experienced rapid growth and skyrocketing valuations.” But in 2022, investors’ optimism has… Read More

January 4, 2023 @ 4:13 pm By Omar Faridi  |  

Backbase, which claims to be the global “leader” in Engagement Banking, announced the appointment of Mark Appel as Chief Marketing Officer. Appel will “lead Backbase’s marketing organization, bringing over 30 years of experience with technology and growth companies such as Apple, Twinfield (acquired by Wolters… Read More

January 4, 2023 @ 3:55 pm By Omar Faridi  |  

AltoIRA notes that December is a “hectic” time of year. Between buying the right gifts, making holiday party appearances, and visiting with family, you’d be forgiven if your “top concern” isn’t maximizing your IRA contributions. According to AltoIRA, end-of-year IRA contributions are “something you should… Read More

January 4, 2023 @ 3:33 pm By JD Alois  |  

Digital assets saw inflows totaling $433 million during 2022 – the lowest amount since 2018 went inflows topped $233 million. In 2021, inflows totaled $9.1 billion, significantly higher. This is according to a report distributed by Coinshares (Nasdaq Stockholm: CS)(OTCQX: CNSRF). According to the firm,… Read More

January 4, 2023 @ 3:21 pm By Omar Faridi  |  

Investment platform Robo.cash reports that loans worth €18M “were purchased” during December 2022. The team at Robocash also mentioned that 669 new customers started investing via their platform in December 2022. Investors reportedly “received €781,000 in interest.” Robo.cash also confirmed that they have “updated the… Read More

January 4, 2023 @ 3:00 pm By JD Alois  |  

Coinbase (NASDAQ:COIN) will pay $50 million to the New York Department of Financial Services (NYDFS) to settle a “compliance investigation.” Coinbase has been licensed by the regulator to conduct a virtual currency business and money-transmitting business in the State of New York since 2017. DFS… Read More

January 4, 2023 @ 2:35 pm By Omar Faridi  |  

The team at Next Insurance is pleased to announce Employment Practices Liability Insurance (EPLI) is now “available with general liability in 28 states plus Washington, DC.” This expansion continues NEXT’s mission “to help entrepreneurs thrive by providing additional protection for business owners against lawsuits involving… Read More

January 4, 2023 @ 11:45 am By Omar Faridi  |  

In 2022, PeerBerry investors “funded EUR 537.5 million in loans.” In total, during the entire period of PeerBerry’s activity (within 5 years of the platform’s operation), PeerBerry’s investors “funded EUR 1.5 billion in loans.” According to the monthly volume of funded loans, PeerBerry claims it… Read More

January 4, 2023 @ 10:27 am By JD Alois  |  

During 2022, Reg CF, the smallest crowdfunding securities exemption, took a bit of a hit as the number of investors declined, and the total amount of investments dropped by 12.8% from $578.8 million in 2021. This is according to a report by Crowdfund Capital Advisors… Read More

January 4, 2023 @ 8:44 am By Omar Faridi  |  

Paycell, Türkiye’s next-generation digital payment platform, announced a strategic partnership with Nium, the platform for global money movement, to offer international money transfers from account to account using Nium’s leading business payments infrastructure. The partnership “makes life easier for Paycell users to perform fast, safe,… Read More

January 4, 2023 @ 8:42 am By Omar Faridi  |  

2022 has been a year “like no other—marked by market volatility for both crypto and traditional markets,” according to an update from Anchorage Digital. Anchorage Digital claims that it was “built for exactly this moment.” And within this volatility, they have “continued to grow and… Read More

January 4, 2023 @ 8:39 am By Omar Faridi  |  

Solaris, which claims to be Europe’s “leading” embedded finance platform, announced changes to its management board. This move is linked to Solaris‘ new target operating model “following a corporate strategy update and the recently communicated CEO succession.” Carsten Höltkemeyer, who took office as CEO designate… Read More

January 3, 2023 @ 11:32 pm By Omar Faridi  |  

GoCardless, which claims to be a global leader in direct bank payment solutions, has  announced it is “officially live in the market with PayTo, an instant account-to-account payment method that has been designed to replace Australia’s traditional Direct Debit network in approximately three to five… Read More

January 3, 2023 @ 10:31 pm By Omar Faridi  |  

PayPal Holdings, Inc. (NASDAQ: PYPL) announced it has granted equity awards on December 15, 2022, under its 2022 Inducement Equity Incentive Plan to new employees who joined PayPal. The grants were previously “approved by the Compensation Committee of the Board of Directors of PayPal Holdings, Inc.”… Read More

January 3, 2023 @ 10:29 pm By JD Alois  |  

Earlier today, the Office of the Comptroller of the Currency (OCC), Federal Deposit Insurance Corporation (FDIC), and the Board of Governors of the US Federal Reserve made the interesting move to jointly issue a statement cautioning banks about working with crypto firms. The joint statement… Read More

January 3, 2023 @ 9:56 pm By Omar Faridi  |  

Caixa Geral de Depósitos (CGD), the Portuguese state-owned banking corporation, and the largest bank in Portugal, has chosen “to implement regulatory reporting software from Wolters Kluwer Finance, Risk & Regulatory Reporting (FRR).” OneSumX for Regulatory Reporting “combines bank data into a single source of data… Read More

January 3, 2023 @ 9:01 pm By Omar Faridi  |  

The Securities and Exchange Commission (SEC) in the Philippines revealed that it will be making a full shift towards all-digital payments by February 1, 2023. The general public residing in the Southeast Asian country will be using the eSPAYSEC that was introduced in March 2022,… Read More

January 3, 2023 @ 9:00 pm By Omar Faridi  |  

Binance has partnered with Kazakhstan’s government organizations in charge of financial technology, education, digital development, and innovation “with the goal of delivering blockchain education to 40,000 people by 2026.” To plan and execute this large-scale initiative, Binance joined forces with the Research Lab’s Blockchain Center,… Read More

January 3, 2023 @ 5:21 pm By JD Alois  |  

Three federal bank regulators, including the Office of the Comptroller of the Currency (OCC), US Federal Reserve Bank, and Federal Deposit Insurance Corporation (FDIC), have joined to caution the public on “crypto asset” risks to banking firms. The statement follows a year of turmoil in… Read More

January 3, 2023 @ 4:57 pm By Omar Faridi  |  

Bank of America (NYSE: BAC) announced it has committed $13 million in funding to more than 100 Chicago-area nonprofit organizations working “to drive economic opportunity for individuals and families in underserved Chicagoland communities.” In 2022, Bank of America partnered with nonprofits that are “addressing key… Read More