May 9, 2024 @ 8:01 am By Omar Faridi  |  

Varo Bank, a federally chartered digital bank, has shared research about the impact of inflation on cash-sensitive consumers in a new Wealth Watch Insights report. The data shows the strain inflation has caused for this demographic, “with 89% of respondents reporting that they now rely… Read More

May 8, 2024 @ 5:19 pm By JD Alois  |  

Robinhood (NASDAQ:HOOD) is reporting “record” revenues of $618 million, up 40% year-over-year, and GAAP Diluted EPS of $0.18 for Q1 of 2024. The modern spin on a brokerage that incorporates crypto said net deposits stood at $11.2 billion with “positive transfers from every major incumbent brokerage… Read More

May 8, 2024 @ 5:06 pm By JD Alois  |  

Identity firm Token Security has raised $7 million while announcing it has emerged from stealth mode. The seed round was led by TLV Partners and SNR, along with multiple angel investors, including Shlomo Kramer, who is described as a founding father of cybersecurity in Israel…. Read More

May 8, 2024 @ 4:50 pm By Omar Faridi  |  

Hong Kong Monetary Authority (HKMA) welcomes the pilot launch of the Shenzhen-Hong Kong cross-boundary data validation platform The Shenzhen and Hong Kong authorities announced (6 May) the pilot launch of the Shenzhen-Hong Kong cross-boundary data validation platform. The platform utilizes blockchain technology and data coding… Read More

May 8, 2024 @ 4:48 pm By Omar Faridi  |  

Yes Bank, a private sector bank in India, and EBANX, a global fintech company specialized in payment solutions for emerging markets, announced a strategic partnership for payment processing in India, for the global digital economy. This collaboration represents a significant milestone in the digital payments… Read More

May 8, 2024 @ 3:58 pm By Omar Faridi  |  

At PayPal (NASDAQ: PYPL), they claim to be focused on a goal to empower consumers and merchants worldwide to engage in the global economy, all while doing good in the world. The PayPal 2023 Global Impact Report details how their progress on their corporate sustainability… Read More

May 8, 2024 @ 3:57 pm By Omar Faridi  |  

Research from RedCompass Labs, a firm focused on payments modernization, has revealed that US banks are failing to meet demand for instant payments. The report, “Time to leave legacy behind? Instant payments in the US”,  “surveyed 300 senior payment professionals in US banks to get… Read More

May 8, 2024 @ 2:41 pm By Omar Faridi  |  

SoFi (NASDAQ: SOFI) will be supporting Zelle which is being rolled out after requests from clients. Zelle is a bank-owned instant payments and transfer service that is broadly available in the banking world. SoFi states that Zelle is one of the most requested features for… Read More

May 8, 2024 @ 12:11 pm By Omar Faridi  |  

Volante Technologies, the global enabler of payments as a service, announced its achievement of Fedwire Funds Service certification for the ISO 20022 messaging capabilities of its wire payment processing solutions. This certification provides Volante customers “a streamlined fourteen-week pathway to ISO 20022 compliance for their… Read More

May 8, 2024 @ 11:21 am By JD Alois  |  

The Securities and Exchange Commission (SEC), Investor Advisory Committee (IAC), has scheduled a meeting for June 6th. Topics include artificial intelligence (AI) and the ongoing discussion of investment advice. Regarding investment advice, the Committee worries that younger investors are receiving guidance from “non-traditional ways,” including… Read More

May 8, 2024 @ 11:06 am By Omar Faridi  |  

Rent prices have surged in recent years, and wages have not kept pace, according to an update from real estate tech firm Zillow (Nasdaq: Z and ZG). While last year was a bright spot — wages grew faster than rents nationally and in almost half… Read More

May 8, 2024 @ 11:04 am By JD Alois  |  

Nonprofit Fintech Sandbox has received a grant of $150,000 from Global Atlantic Financial Group. Fintech Sandbox provides early-stage Fintech startups around the world with free access to datasets and infrastructure through its Data Access Residency. Global Atlantic said their support for Fintech Sandbox is because… Read More

May 8, 2024 @ 10:24 am By JD Alois  |  

Singapore and the United Kingdom have enhanced their existing relationship in regard to Fintech development and utilization. The UK is the top western Fintech hub and Singapore represents the most robust Fintech center in Asia. The initiative was led by HM Treasury and the Monetary… Read More

May 8, 2024 @ 10:05 am By JD Alois  |  

Tether, the issuer of the top stablecoin USDT, says it has committed more money to Georgia-based Fintech CityPay.io. Tether did not provide further details on the investment, only noting that it was an “additional investment.” CityPay is said to be active across 600 locations in… Read More

May 8, 2024 @ 9:47 am By JD Alois  |  

Panax, a cash management platform powered by AI [artificial intelligence] and Open Banking, has raised $10 million in Series A funding. To date, Panax has raised $15 million. Panax targets mid-market and large firms with complex treasury demands. The service enables the management of numerous… Read More

May 8, 2024 @ 9:28 am By Omar Faridi  |  

Corlytics, a regulatory intelligence and policy compliance tech provider, has acquired a digital Regtech platform from Deloitte UK. The marriage of the two platforms is described as transformational, “completing the cycle of regulatory assessment and implementation.” The announcement closely “follows Verdane’s majority stake investment last… Read More

May 8, 2024 @ 9:25 am By Omar Faridi  |  

Emirates NBD, a banking group in the MENA (and Türkiye) region, has announced Chainalysis as a key council member of the Digital Asset Lab. Chainalysis, the blockchain data platform, will “join professional services firm PwC, digital asset transfer and direct custody technology platform Fireblocks, and… Read More

May 8, 2024 @ 9:18 am By Omar Faridi  |  

Allica Bank – the digital challenger bank built especially for established SMEs – has announced the launch of a new partnerships team, specifically focused on growing its relationships with accountancy firms across the UK. Allica, the business bank, sees accountants as “a vital connection to… Read More

May 8, 2024 @ 9:16 am By Omar Faridi  |  

The Consumer Financial Protection Bureau (CFPB) took action against Chime Financial for allegedly “failing to give consumers timely refunds when their accounts were closed.” Thousands of consumers waited for weeks or even months “for balance refunds after closing their accounts – a failure that inflicted… Read More

May 8, 2024 @ 9:11 am By Omar Faridi  |  

A year after the start Bitpanda first enabled trading for Raiffeisenlandesbank NÖ-Wien, they are pleased to announce that their partnership will now be rolled out “across the North and East of Austria to an additional 55 Raiffeisen banks in Lower Austria and Burgenland.” The core… Read More