August 1, 2024 @ 9:01 am By Omar Faridi  |  

Lemonade, Inc. (NYSE: LMND) has released its second quarter 2024 financial results. Lemonade notes in its Letter to Shareholders that it remains focused on offering renters, homeowners, car, pet, and life insurance. Powered by artificial intelligence and social impact, Lemonade’s full stack insurance carriers in… Read More

July 31, 2024 @ 10:42 pm By Omar Faridi  |  

Ripple, the enabler of enterprise blockchain and crypto solutions, and Fenasbac, the National Federation of Associations of Central Bank Servers, announced a partnership to advance fintech innovation in Brazil through the Next accelerator program. Their combined effort will “support the development of scalable financial services… Read More

July 31, 2024 @ 10:41 pm By Omar Faridi  |  

AppBrilliance, an enabler of real-time payment solutions with its Money API platform, is leveraging a recent rule change by The Clearing House to expand use-cases for Real Time Payments (RTP) to closed-loop digital wallets in the US. Companies like Starbucks, CVS, Dunkin, Chick-fil-A and many… Read More

July 31, 2024 @ 10:40 pm By Omar Faridi  |  

Finix, the full-stack payment processor enabling businesses to accept and send payments,  launched Recurring Billing, a new solution available on the Finix dashboard that enables customers to easily set up and manage recurring payments using no-code tools. Recurring billing can be difficult for businesses “to… Read More

July 31, 2024 @ 6:46 pm By Omar Faridi  |  

Tonik, the Philippines’ digital-only neobank, recently announced that it has achieved steady growth in its consolidated loan portfolio and revenue in the first half of 2024. In 2023, Tonik claims that it “became the first non-captive digital bank in the Philippines to achieve a major… Read More

July 31, 2024 @ 2:43 pm By JD Alois  |  

The US Federal Reserve has held rates steady, holding off on rate cuts that many anticipate this coming fall. While Fed Chairman Jerome Powell said they had made much progress on their goal of inflation of 2% and full employment, the Federal Open Market Committee… Read More

July 31, 2024 @ 1:58 pm By JD Alois  |  

Fintech Bud Financial has selected Lithuania as its European hub. According to Invest Lithuania, the financial data intelligence platform is expanding its presence in the country after the Bank of Lithuania granted Bud Financial an AIS [Account Information Service] Provider license. Bud will now be… Read More

July 31, 2024 @ 1:20 pm By JD Alois  |  

Sticpay, a digital wallet and payments provider, says it has added Visa and Mastercard debit/credit card processing to its platform. Sticpay reports over 5000 merchants. Sticpay is licensed by the UK Financial Conduct Authority and reports over one million users and 5,000 corporate clients across… Read More

July 31, 2024 @ 1:06 pm By JD Alois  |  

Recently, the SEC Small Business Capital Formation Advisory Committee (SBCFAC) issued a recommendation to the Commission to adjust the threshold when issuers using the Reg CF securities exemption are required to provide reviewed financials. The formal letter told the Commission the hurdle should be moved… Read More

July 31, 2024 @ 12:48 pm By Omar Faridi  |  

Airwallex, a global payments and financial platform for modern businesses, announced a partnership with Float, one of Canada’s B2B fintechs, to enable fast and cost-effective bill payments for both domestic and overseas transactions. Float’s Bill Pay product, powered by Airwallex, introduces payouts – “including bank… Read More

July 31, 2024 @ 12:48 pm By JD Alois  |  

Stablecoin issuer Tether is reporting a $5.2 billion profit for the first six months of 2024. The news was shared as part of the firm’s Q2 attestation of holdings. Q2 generated $1.3 billion in profits after a strong Q1. Tether reports that it mainly holds… Read More

July 31, 2024 @ 11:43 am By JD Alois  |  

The American Fintech Council (AFC) keeps adding new Fintechs to its roster of members. Today, MoneyLion (NASDAQ:ML) has joined the group that seeks to advocate on behalf of the burgeoning Fintech sector. Phil Goldfeder, Chief Executive Officer of AFC, said MoneyLion empowers millions to take control… Read More

July 31, 2024 @ 11:17 am By Omar Faridi  |  

Netcapital Inc. (Nasdaq: NCPL, NCPLW), an online investment platform, has announced that the company’s board of directors “approved a reverse stock split of the company’s common stock, par value $0.001 per share, at a ratio of 1-for-70.” Netcapital is a micro-cap with a valuation of… Read More

July 31, 2024 @ 10:53 am By JD Alois  |  

CoinShares (OTC:CNSRF) says it will use TS Imagine’s “TS One” service for trading and risk management for its Relative Value equities hedge fund. TS Imagine is a cross asset trading firm for institutions. CoinShares is an investment company specializing in digital assets with offices in… Read More

July 31, 2024 @ 10:45 am By Omar Faridi  |  

SoFi Technologies (NASDAQ: SOFI) is reporting net revenue of $599 million and net income of $17 million for Q2 2024, marking the third consecutive quarter of GAAP profitability. Despite these fairly solid results, SoFi’s share price has barely budged in the past day. The Fintech… Read More

July 31, 2024 @ 10:31 am By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed charges against the founder of BitClout, alleging securities fraud. Nader Al-Naji (aka Diamondhands) is said to have raised over $257 million in a scheme for the sale of unregistered securities – the token BTCLT. Simultaneously, criminal charges… Read More

July 31, 2024 @ 9:21 am By Omar Faridi  |  

ThetaRay, an AI-powered financial crime detection firm, has announced the acquisition of European screening company, Screena. The acquisition is being described as demonstrating ThetaRay’s continuous investment “in proprietary technology and reaffirms its mission of enabling banks, fintechs, and regulators to detect financial crime with state-of-the-art… Read More

July 31, 2024 @ 9:19 am By Omar Faridi  |  

Regtech firm Sumsub revealed that they have achieved multiple certifications for conforming with standards set by the European Telecommunications Standards Institute (ETSI). This milestone reflects Sumsub’s commitment “to meeting the stringent European technical standards for identity proofing and trust services.” Sumsub has been recognized “as… Read More

July 31, 2024 @ 9:14 am By Omar Faridi  |  

First AI Pulse Survey shared by EY reveals that the number of senior leaders investing $10 million or more is set to nearly double, but many are failing to also invest in necessary infrastructure, jeopardizing AI’s impact. After more than a year of hype around… Read More

July 31, 2024 @ 9:12 am By Omar Faridi  |  

Lloyds Bank’s latest Business Barometer found that overall business confidence rose significantly in July to equal the highest level in confidence shown by businesses for eight years. Business confidence in the UK increased by 9 points “to 50% this month, reversing the drop in June… Read More