July 2, 2024 @ 9:05 am By Omar Faridi  |  

Lemonade (NYSE: LMND), the digital insurance company powered by AI and social impact, announced that its reinsurance program is being renewed. It was reportedly led by the same tier-one carriers “as the expiring treaty and was oversubscribed on all dimensions.” The core of the program… Read More

July 2, 2024 @ 9:04 am By Omar Faridi  |  

Investment platform Robo.cash reporting steady activity for the month of June. In a blog post, Robocash release the latest figures for the online investing platform. For the month of June 2024, Robocash reports over €20 million invested, more than 240 new investors joining the platform,… Read More

July 2, 2024 @ 9:03 am By Omar Faridi  |  

On 1 July 2024, Clearstream introduced a direct link to South Korea with the Korea Securities Depository (KSD). This innovative link is expected to provide clients “with seamless market access to settle and safe keep Korean government bonds, including Korean Treasury Bonds (KTBs) and Monetary… Read More

July 2, 2024 @ 8:59 am By Omar Faridi  |  

Robinhood (NASDAQ: HOOD) has revealed the acquisition of Pluto Capital Inc., described as an artificial intelligence (AI) powered investment research platform that delivers “highly-customized” investment strategies based on customer needs and financial goals. With this strategic acquisition, investors may anticipate “a new era of intelligent, data-driven… Read More

July 2, 2024 @ 8:52 am By Omar Faridi  |  

Revolut has released its Annual Report for the year ending 31 December 2023. Nik Storonsky, CEO of Revolut, said: “This year, we took our biggest steps yet on our mission to deliver the best product and the best customer experience at great value to customers,… Read More

July 2, 2024 @ 7:46 am By Omar Faridi  |  

The Securities and Exchange Commission (SEC) charged Silvergate Capital Corporation, its former CEO Alan Lane, and former Chief Risk Officer (CRO) Kathleen Fraher with allegedly “misleading investors about the strength of the Bank Secrecy Act/Anti-Money Laundering (BSA/AML) compliance program and the monitoring of crypto customers,… Read More

July 2, 2024 @ 5:43 am By Tony Zerucha  |  

Last week, mortgage Fintech Lower announced Craig Montgomery as its new chief strategy officer. Montgomery is charged with helping Lower achieve its goal of becoming a top-five national lender. A 27-year industry veteran, Montgomery took part in driving organizational growth from under $2 billion to over $50 billion in annual production… Read More

July 1, 2024 @ 5:47 pm By JD Alois  |  

After an extended period of tepid activity in the private securities markets, private tech firms in Israel experienced an increase in funding during Q2 2024. According to the IVC—Leumitech report, private funding hit $2.9 billion for 110 funding rounds during the second quarter. If you… Read More

July 1, 2024 @ 4:40 pm By JD Alois  |  

In a sign of trust, the US Marshals Service (USMS), which happens to be part of the US Department of Justice, has selected Coinbase (NASDAQ:COIN) to help it manage its digital assets, which come from seizures and forfeitures. While one part of the federal government… Read More

July 1, 2024 @ 4:24 pm By Omar Faridi  |  

Although interest rates and inflation have started to trend downward, many bank customers in Canada are still feeling the economic squeeze and the majority of them express interest in receiving financial advice from their bank, according to the J.D. Power 2024 Canada Retail Banking Advice… Read More

July 1, 2024 @ 4:23 pm By Omar Faridi  |  

To comfortably afford a typical U.S. home, a home buyer making the median income needs to put down nearly $127,750, or 35.4%, a Zillow (Nasdaq: Z and ZG) analysis of the real estate market shows. Five years ago, when mortgage rates were “hovering just above… Read More

July 1, 2024 @ 12:06 pm By Omar Faridi  |  

The team at CBInsights has shared key industry insights in an update, entitled Enterprise AI Roadmap: How the AI development platform landscape has transformed, changing how buyers assess ROI, use cases. The researchers reportedly mined CB Insights data and spoke “with 50+ buyers of AI… Read More

July 1, 2024 @ 10:28 am By JD Alois  |  

Fintech has long been a hot sector of online capital formation and Currensea raising money on Seedrs is emblematic of a popular firm able to raise money quickly in a crowdfunded securities offering. According to multiple reports, Currensea has cruised past its £1 million funding… Read More

July 1, 2024 @ 9:48 am By Omar Faridi  |  

As the financial services world becomes increasingly digitized and consumer demands evolve, fraudsters and their methods are becoming more sophisticated, according to an update from Provenir. Provenir, a global firm focused on AI-powered risk decisioning software, is helping organizations fight back “by detecting these emerging… Read More

July 1, 2024 @ 9:46 am By Omar Faridi  |  

The Malta Financial Services Authority (MFSA) released its Annual Report, highlighting the stability and resilience of the Maltese financial services industry in 2023. Malta’s financial services sector is reportedly “a major player in the country’s economic success.” Between 2022 and 2023, the financial services sector… Read More

July 1, 2024 @ 9:12 am By Omar Faridi  |  

The latest Lloyds Bank Business Barometer has found that overall business confidence fell by 9 points to 41% in June. Despite falling from last month’s highs, this latest confidence reading “is consistent with levels seen during Q1 2024, before the sharp rise in May.” The… Read More

July 1, 2024 @ 9:09 am By Omar Faridi  |  

The Autorité des Marchés Financiers (AMF) has released a summary of its SPOT inspections of financial management delegation arrangements at asset management companies. During short, thematic inspections, the AMF looked “at the delegation arrangements of five asset management companies.” Delegation of financial management is “a… Read More

July 1, 2024 @ 9:08 am By Omar Faridi  |  

Mats Eklund has been announced as the new Head of Information Technology and Digitalization Department at Riksbank. The Executive Board of the Riksbank has reportedly appointed Mats Eklund new Head of the Information Technology and Digitalization Department. Mats comes most recently from “a position as… Read More

June 30, 2024 @ 10:28 pm By Omar Faridi  |  

Real-World Asset Tokenization: A Game Changer for Global Trade, a new paper released by Standard Chartered and Synpulse, predicts that demand for overall tokenized assets could reach USD 30.1 trillion by 2034, and that trade finance assets “could become one of the top three tokenized… Read More

June 30, 2024 @ 9:26 pm By Omar Faridi  |  

multifi are a lending service for SMEs, empowering innovative businesses to reach the next level of growth and cover emergencies. However, to offer the solution that SMEs were crying out for, they “needed to offer loans that were fast and easily accessible.” For that, they… Read More