May 7, 2024 @ 9:26 am By Bryan P. Bylica, Philip Kassel and Danny H. Harris  |  

The Small Business Investment Company (SBIC) Program enables private equity fund managers to access government leverage at rates typically lower than traditional lending sources. The SBIC Program aims to grow small businesses by facilitating access to growth capital for lower middle-market companies. The U.S. Small… Read More

May 7, 2024 @ 8:51 am By Omar Faridi  |  

Crowded, a digital platform dedicated to providing nonprofits and membership organizations modern, tech-enabled financial services that meet their unique needs, announced a new collaboration with Visa, the digital payments provider, to implement Visa Direct. Powered by Cross River, a technology infrastructure provider “that offers embedded… Read More

May 7, 2024 @ 8:49 am By Omar Faridi  |  

Robinhood Markets, Inc. (NASDAQ:HOOD) announced that it had received a Wells Notice from the US Securities and Exchange Commission (SEC) staff. As reported on May 6, 2024, Robinhood Crypto (RHC) received a Wells Noticer “indicating [staff] will recommend that the Commission file an enforcement action.”… Read More

May 7, 2024 @ 8:44 am By Omar Faridi  |  

Visa Inc. (NYSE: V) and JP Morgan Payments announced a strategic collaboration that aims to enhance merchant experiences, empower cardholders, and drive innovation for J.P. Morgan Payments’ customers by introducing faster domestic payments in the US through the Visa Direct network. With Visa Direct’s extensive… Read More

May 7, 2024 @ 8:42 am By Omar Faridi  |  

Mach Recruitment, a Leeds based specialist recruitment business has agreed a £45m invoice finance facility with Metro Bank. As a specialist recruitment business working in the ecommerce and food sectors, Mach Recruitment will use the financing “to support its acquisition ambitions and continued desire to… Read More

May 7, 2024 @ 8:40 am By Omar Faridi  |  

Revolut has launched Revolut X, which is described as a standalone / independent cryptocurrency trading platform that’s offered to the Fintech firm’s UK retail clients. Revolut launched in the United Kingdom, providing fund transfers back in 2015 and started enabling users to purchase, hold and… Read More

May 6, 2024 @ 11:29 pm By Omar Faridi  |  

tradias GmbH, which claims to be one of Europe’s leading trading firms specializing in cryptocurrency trading and digital asset services, announced an integration with Talos, the  provider of institutional trading technology for digital assets, that would deliver the liquidity provision services of tradias “to institutional… Read More

May 6, 2024 @ 10:30 pm By Omar Faridi  |  

Socure, the provider of artificial intelligence for digital identity verification, sanction screening, and fraud prevention, released its inaugural Document and Biometric Identity Fraud Report, detailing the rampant use of fake government-issued IDs and the techniques used to fool legacy document verification systems. According to the… Read More

May 6, 2024 @ 9:55 pm By JD Alois  |  

Zūm Rails and Fiserv have partnered on a service that aims to enable US businesses with everything they need to offer direct bank-like services, without relying on a bank or other third-party providers. Zūm Rails describes itself as a Fintech that is leveraging open banking… Read More

May 6, 2024 @ 9:43 pm By Tony Zerucha  |  

nCino, a provider of cloud banking for the global financial services industry, announced this week that Libro Credit Union, one of the largest credit unions in the Canadian province of Ontario, has selected nCino’s Cloud Banking Platform. Libro serves more than 117,000 owners via 34… Read More

May 6, 2024 @ 9:27 pm By Omar Faridi  |  

The UAE card payments market is forecast to grow at a compound annual growth rate (CAGR) of 10.6% between 2024 and 2028 to reach AED764.1 billion ($208.2 billion) in 2028, according to GlobalData, a data and analytics company. GlobalData’s Payment Cards Analytics reveals “that card… Read More

May 6, 2024 @ 8:57 pm By Michael Wong  |  

The Bangko Sentral ng Pilipinas (BSP), the central bank of the Philippines, has issued new regulations mandating that banks and other financial institutions report significant incidents related to money laundering, terrorism financing, and proliferation financing within 24 hours. The directive, outlined in a circular signed… Read More

May 6, 2024 @ 7:11 pm By Omar Faridi  |  

Poor investment governance could cost asset owners, and in turn their customers, significant sums – in the case of a super fund member as much as $500,000 over their working lives, a new report by KPMG Australia and Frontier Advisors finds. A survey of institutional… Read More

May 6, 2024 @ 6:32 pm By Omar Faridi  |  

Copper, which claims to be one of the industry’s leading digital asset custodians, today announced the integration of The Open Network (TON), a decentralized and self-governing blockchain network, into its infrastructure. Access to Tether’s newly launched USDT-TON has now “been fully integrated directly into Copper’s… Read More

May 6, 2024 @ 2:52 pm By Omar Faridi  |  

Sumsub has announced that it will be integrating with CODE, a Travel Rule compliance solution. Both companies will collaborate to facilitate secure and immediate data sharing among Virtual Asset Service Providers (VASPs), “aligning with Travel Rule compliance requirements for virtual asset transactions.” In addition to… Read More

May 6, 2024 @ 2:42 pm By Omar Faridi  |  

The team at Mitosis has reportedly secured a total of $7M in funding, which is considered by them to be a testament to the “trust” and “belief” of industry’s investors and strategic partners, including the lead investors Amber Group and Foresight Ventures. With this strong… Read More

May 6, 2024 @ 2:24 pm By JD Alois  |  

After discussing the activity of the Regulation Crowdfunding (Reg CF) market, the Securities and Exchange Commission (SEC), Small Business Capital Formation Advisory Committee (SBCFAC), has decided to recommend raising the threshold for reviewed financials from $124,000 to $350,000. Currently, reviewed financials cost around $5000 to… Read More

May 6, 2024 @ 12:15 pm By JD Alois  |  

Grupo Bancolombia has launched “Wenia Ltd.” a new entity enabling crypto trading. According to a corporate statement, Wenia will provide digital asset services exclusively for Colombian residents through its platform. Clients will be able to trade various digital assets, including Wenia’s own COPW, a stablecoin… Read More

May 6, 2024 @ 11:50 am By JD Alois  |  

KeyBank (NYSE: KEY) is adding another Fintech service with the launch of KeyVAM, which is described as a “virtual account management solution for treasury management clients who have complex demand deposit account (DDA) structures.” This new cash management service is powered by Qolo, a card… Read More

May 6, 2024 @ 11:21 am By Omar Faridi  |  

Crypto.com announced it has surpassed the 100 million global user mark – the latest significant milestone for the company founded in 2016 and the industry leader in regulatory compliance, security and privacy. This milestone was reached in the immediate wake of Crypto.com’s latest Fortune Favors… Read More