July 22, 2024 @ 12:20 pm By Omar Faridi  |  

Approval phishing is an increasingly popular tactic used by criminals to steal funds through different scamming techniques such as fake crypto apps and romance scams (also known as pig butchering), according to an update from Chainalysis. With the approval phishing technique, the scammer tricks the… Read More

July 22, 2024 @ 11:53 am By Omar Faridi  |  

The Federal Reserve Board this past Friday reportedly took action to address consumer compliance breakdowns by Green Dot, fining the firm $44 million “for numerous unfair and deceptive practices and a deficient consumer compliance risk management program.” Green Dot Corporation (NYSE: GDOT) is said to… Read More

July 22, 2024 @ 10:51 am By JD Alois  |  

NPC Labs says it has raised $18 million in Seed funding led by Pantera Capital – a VC that is very active in the blockchain sector. To date, NPC Labs reports having raised $21 million which includes pre-seed dollars. Other investors in the round include… Read More

July 22, 2024 @ 10:40 am By JD Alois  |  

Armed Forces Brewing Company, a private firm looking to raise up to $5 million in a Reg A+ securities offering, is promoting the offering on its beer. The company has leveraged the securities exemption in the past to raise growth capital from its community. In… Read More

July 22, 2024 @ 9:19 am By Omar Faridi  |  

The Consumer Financial Protection Bureau (CFPB) recently took action to make sure that consumers can dispute charges and obtain refunds on BNPL products and services, making BNPL lenders follow similar rules as credit card companies. So, what does this mean for banks and Fintechs? As… Read More

July 22, 2024 @ 8:59 am By Omar Faridi  |  

Matías Andrade and Tanay Ved have recently shared key takeaways from a Coin Metrics report which noted that Mt. Gox creditors are finally receiving repayments, “with approximately $9 billion worth of Bitcoin set for distribution in July.” As mentioned in the Coin Metrics report, the… Read More

July 22, 2024 @ 8:57 am By Omar Faridi  |  

After nearly breaching all-time highs in 2024 Q1, the total crypto market cap returned some of those gains in Q2, “dropping -14.4%, closing at $2.43 trillion in June,” the team at CoinGecko noted. 2024 Q2 brought Bitcoin’s long-anticipated fourth halving, which “went off without a… Read More

July 22, 2024 @ 8:54 am By Omar Faridi  |  

Bondsmith, which says it is empowering clients to unlock the full potential of cash with innovative financial solutions via trusted partnerships,  announced that they have joined forces with abrdn in order to launch a fully integrated cash savings solution, providing their clients with even greater… Read More

July 22, 2024 @ 8:53 am By Omar Faridi  |  

Midlands Engine Investment Fund II has announced its first major equity deal. Aircraft robotics firm True Position Robotics has raised £1 million to support business expansion. The British Business Bank has announced the first deal from the Midlands Engine Investment Fund II “with a £1… Read More

July 22, 2024 @ 8:50 am By Omar Faridi  |  

Investment platform Bondora is reporting a key milestone. Bondora reveals that 1 billion Euros have been invested via their platform. This latest achievement has marked a significant point in Bondora’s journey since 2008, and it was made possible by their customers. In order to mark… Read More

July 22, 2024 @ 5:03 am By Omar Faridi  |  

MNT-Halan, an Egyptian FinTech firm and the nation’s first unicorn, has reportedly finalized a new investment round, acquiring a total of $157.5 million. This new funding round included contributions of $40 million from the International Finance Corporation (IFC), while the other funds were provided by… Read More

July 21, 2024 @ 11:38 pm By Tony Zerucha  |  

Executives from two Fintech companies believe this week’s system outages could hurt SMEs the most and highlight the need for additional resiliency in an increasingly connected world. The past seven days began with an outage at CHAPS. While it was temporary, it significantly affected European… Read More

July 21, 2024 @ 10:02 pm By Tony Zerucha  |  

april, an AI-powered tax-filing product built to be embedded with financial services providers, this week appointed Raj R. Doshi as its president and chief operating officer. Doshi brings more than 20 years of experience with organizations including Google, TaxAct and Avantax. Doshi’s focus will be… Read More

July 21, 2024 @ 8:20 pm By Omar Faridi  |  

Blockbuster deals to Stripe and AlphaSense buoy an otherwise flat quarter for the Fintech sector, according to an extensive update from CBInsights. On the surface, Q2’24 was a return “to growth for fintech, with funding increasing 19% quarter-over-quarter (QoQ) to $8.9B,” the CBInsights report revealed…. Read More

July 21, 2024 @ 8:04 pm By Omar Faridi  |  

Clear Street, a cloud-native financial technology firm on a mission to modernize the brokerage ecosystem, has entered into a definitive agreement to acquire Instinet’s Fox River algorithmic trading business. Fox River provides a comprehensive “suite of algorithmic execution solutions in US and Canadian equities.” These… Read More

July 21, 2024 @ 7:07 pm By Omar Faridi  |  

FIS (NYSE: FIS), a global firm focused on financial technology, announced the launch of its new SMB Digital Lending solution. Created in partnership with Lendio, the nation’s small business financial solutions technology platform, the solution aims to “reduce the barriers to funding for small and… Read More

July 21, 2024 @ 7:06 pm By Omar Faridi  |  

9Spokes, a global data platform, announced the launch of its new Cashflow forecasting product, a tool designed for integration within the digital platforms of financial organizations. This offering provides small and medium-sized businesses (SMBs) with “automated, predictive cashflow management and forecasting capabilities.” A recent study… Read More

July 21, 2024 @ 6:56 pm By Michael Wong  |  

The Central Bank of the UAE (CBUAE) and Bank Indonesia (BI) have signed a Memorandum of Understanding (MoU) to enhance bilateral cooperation in payment systems. This agreement was formalized during a visit to the UAE by Indonesian President Joko Widodo. The MoU, signed by Khaled… Read More

July 21, 2024 @ 6:54 pm By Omar Faridi  |  

Matera, a banking software provider, announced a $100 million investment from Warburg Pincus, a global growth investor. The investment will be used to fund the company’s “expansion into the North American market and further expand product development.” Founded in Brazil, Matera is a technology “provider… Read More

July 21, 2024 @ 6:49 pm By Tony Zerucha  |  

The co-founder of a cloud platform for global card processing insists that recent payment systems outages are the price the world pays for widely used yet outdated infrastructure. Robert Kraal is the CBDO of Silverflow, which offers a cloud-native solution with a single API for… Read More