May 23, 2024 @ 8:56 am By JD Alois  |  

Paris-based payments Fintech Mangopay has hired Jonathan Greenland as Sales Director, Strategic Accounts UK&I. Greenland previously was an executive at Airwallex. Mangpay says the move is designed to boost its presence in the UK. Prior to Airwallex, Greenland worked at GoCardless, another UK Fintech. In… Read More

May 23, 2024 @ 8:48 am By JD Alois  |  

The UK Financial Conduct Authority (FCA) has fined HSBC £6,280,100 for the poor treatment of its customers. According to the FCA, HSBC failed to properly consider people’s circumstances when they had missed payments. This transgression took place between June 2017 and October 2018. The FCA… Read More

May 23, 2024 @ 8:40 am By Omar Faridi  |  

After years at the forefront of projects and research based on artificial intelligence (AI), BBVA takes a “decisive step” in the use of generative AI in its main markets. On the one hand, it has prioritized “around 100 projects that will be developed with different… Read More

May 23, 2024 @ 8:32 am By Omar Faridi  |  

Robinhood (NASDAQ:HOOD) is making a major shift in how we offer margin investing to better serve our customers on their financial journey. Robinhood notes in a blog post that it is pleased to launch what they claim to be “the lowest margin rates among  brokerages,… Read More

May 23, 2024 @ 8:26 am By Omar Faridi  |  

Fraud remains a major problem as over £1 billion is stolen by criminals in 2023, according to an update from UK Finance. UK Finance recently released its 2024 annual fraud report, “detailing the amount its members reported as stolen through payment fraud and scams in… Read More

May 23, 2024 @ 8:18 am By Omar Faridi  |  

Alchemy Pay, the fiat-crypto payment solution provider, is set to launch its latest venture, the Web3 Digital Bank. This new initiative will offer global Web3 businesses “a compliant, easy, and reliable means to open and operate multi-fiat accounts, streamline cash flows within a single account,… Read More

May 23, 2024 @ 8:17 am By Omar Faridi  |  

Zopa Bank has reportedly entered the UK’s £23 billion renewable energy market, making its suite of fully regulated BNPL and retail finance products available to Octopus Energy customers across the UK. The deal will see Zopa finance the purchase and “installation of Octopus solar panels… Read More

May 23, 2024 @ 6:22 am By Omar Faridi  |  

Kaspersky has released its new sustainability report for H2 2022 and 2023, revealing the key results of the company’s most recent sustainable development initiatives and projects. The report encompasses five strategic areas “identified as the company’s ESG priorities: safer cyberworld, future tech, safer planet, people… Read More

May 22, 2024 @ 7:09 pm By JD Alois  |  

After an impassioned debate by multiple Democrats criticizing the legislation, the Financial Innovation and Technology for the 21st Century Act (FIT21), HR 4763, has been approved by the US House of Representatives. The final vote showed solid support as 208 Republicans were joined by 71… Read More

May 22, 2024 @ 6:18 pm By Omar Faridi  |  

CME Group, which claims to be the leading derivatives marketplace, announced that it will continue its expansion into the fixed income markets by launching repo on corporate bonds and mortgage-backed securities (MBS) on BrokerTec Quote, its dealer-to-client (D2C) request-for-quote (RFQ) trading platform. U.S. corporate bonds… Read More

May 22, 2024 @ 4:32 pm By JD Alois  |  

The Financial Innovation and Technology for the 21st Century Act (FIT21) incorporates a Digital Asset Exemption that enables issuers to raise up to $75 million. The current language allows participation by both Accredited and Non-Accreditd Investors. For individuals who are not Accredited, there are limitations,… Read More

May 22, 2024 @ 3:56 pm By JD Alois  |  

H, founded in late 2023, by Stanford University researcher Charles Kantor as CEO, and DeepMind alumni Karl Tuyls (Chief Research and Operations Officer), Laurent Sifre (Chief Technological Officer), Daan Wierstra (joining soon as Chief Scientist), and Julien Perolat (Chief Multi-Agent Officer), has raised $220 million… Read More

May 22, 2024 @ 3:35 pm By JD Alois  |  

House Financial Services Committee Chairman Patrick McHenry, along with Digital Assets, Financial Technology and Inclusion Subcommittee Chairman French Hill, and Oversight and Investigations Subcommittee Chairman Bill Huizenga, have joined to ask the Securities and Exchange Commission to provide information on Prometheum’s move to provide custody… Read More

May 22, 2024 @ 12:48 pm By JD Alois  |  

SEC Chairman Gary Gensler has posted commentary on the Financial Innovation and Technology for the 21st Century (FIT21) Act. First introduced in 2023, the legislation has recently re-emerged, moving forward in the House and a looming floor vote. The legislation aims to clarify the digital… Read More

May 22, 2024 @ 12:30 pm By Omar Faridi  |  

As consumers seek easier and safer shopping experiences, Mastercard (NYSE: MA) and Salesforce (NYSE: CRM) announced a new integration to enhance trust across the ecosystem, helping customers speed up the resolution of transaction disputes, and reduce costs associated with resolving them. Disputes and chargebacks, where… Read More

May 22, 2024 @ 12:28 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has penalized the Intercontinental Exchange (NYSE:ICE), the operator of the New York Stock Exchange, for failing to notify the SEC promptly of a cyber intrusion. ICE has agreed to pay a $10 million penalty to settle the allegations without… Read More

May 22, 2024 @ 10:54 am By Omar Faridi  |  

Aeropay, a provider of Pay-By-Bank solutions for businesses, today announced $20 million in Series B financing. Los Angeles-based fintech venture capital firm Group 11 led the round “with participation from Chicago Ventures and Continental Investment Partners.” The investment round comes at a time when Aeropay… Read More

May 22, 2024 @ 10:49 am By Omar Faridi  |  

SIX Digital Exchange (SDX) announces that digital asset issuances facilitated on its platform will surpass 1 billion Swiss Francs (CHF) with the settlement of the CHF 200mn bond by the World Bank priced on 15 May. This achievement marks a key advancement in “the realm… Read More

May 22, 2024 @ 10:45 am By JD Alois  |  

This past week, the California state legislature approved an Artificial Intelligence (AI) bill, SB 1047 that is being described as undermining innovation and hampering the development of the new technology. Joe Lonsdale, founder of Palantir (NYSE:PLTR) – a firm engaged in AI development, slammed the… Read More

May 22, 2024 @ 9:24 am By JD Alois  |  

Today, the UK Payment Systems Regulator (PSR) has decided that cards do not face effective competition. The PSR states that it has “provisionally” determined there is not enough competition in the supply of scheme and processing services to acquirers. Additionally, pricing is complicated, having risen… Read More