June 22, 2024 @ 11:37 am By Tony Zerucha  |  

Vixio, a provider of regulatory intelligence solutions, has published its 2024 Open Banking Outlook report, a unique dive into the growing issue of open banking. This report delves into the current and future open banking landscape and offers valuable insights on how businesses can leverage… Read More

June 22, 2024 @ 10:27 am By Omar Faridi  |  

High-net-worth individuals believe U.S. stocks offer the best opportunities for growing assets, but that conviction is less held by younger investors finds the 2024 Bank of America (NYSE: BAC) Private Bank Study of Wealthy Americans. Millennials and Gen Z are increasingly looking “beyond the traditional… Read More

June 22, 2024 @ 10:26 am By Michael Wong  |  

Turkish Fintech startups have achieved a record investment of $166 million in the first five months of 2024, showcasing significant growth within the sector. This information was detailed in the “Türkiye Fintech Snapshot for May 2024,” published by the Presidency’s Finance Office, which tracks the development… Read More

June 22, 2024 @ 10:21 am By Omar Faridi  |  

BitGo is pleased to announce support for W, which is the native ERC-20 governance token for Wormhole. BitGo explains that clients can now “custody W in Hot, Custodial, and Self-Managed Cold wallets.” As noted in a blog post from BitGo, Wormhole is an interoperability platform… Read More

June 22, 2024 @ 10:13 am By Michael Wong  |  

Fintech Nexus, a prominent name in the Fintech community formerly known as LendIt, has announced it will be closing down and filing for bankruptcy. Last year, Fintech Nexus exited large scale events – a sector of the Fintech industry the organization had largely dominated in… Read More

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

Federal Trade Commission data reveals that government impersonation scammers are targeting consumers for payments in cash, with the amount of cash reported lost to these scams nearly doubling from 2022 to 2023. The FTC data shows that consumers reported “losing $76 million when paying cash… Read More

June 21, 2024 @ 6:09 pm By Omar Faridi  |  

Sumsub has reportedly entered a long-term partnership with Finastra, jointly enabling banking clients to adopt Sumsub’s compliance and anti-fraud solutions. Sumsub has teamed up with Finastra, a global provider of financial software applications and marketplaces, in order to “support financial institutions worldwide with their compliance… Read More

June 21, 2024 @ 6:08 pm By Omar Faridi  |  

For small businesses, navigating the set-up of payment acceptance can be confusing and expensive, often requiring significant upfront costs to set up a website, checkout, and POS terminal. This, according to an update from researchers at Juniper Research. However, merchants can now do all these… Read More

June 21, 2024 @ 6:06 pm By Omar Faridi  |  

Laser Digital has reportedly received Financial Services Permission from ADGM’s Financial Services Regulatory Authority to provide services in both traditional and digital assets. Laser Digital (AD) Limited, is pleased to announce that the Financial Services Regulatory Authority of Abu Dhabi has “approved the issuance of… Read More

June 21, 2024 @ 6:05 pm By Omar Faridi  |  

Numerated has announced a strategic investment from Citi (NYSE:C). Citi will also engage Numerated to “provide its financial spreading solution for the bank’s enterprise lending operations.” Numerated is a modular commercial lending platform “delivering efficient experiences to any or all parts of the credit process.”… Read More

June 21, 2024 @ 5:55 pm By Omar Faridi  |  

The Autorité des Marchés Financiers (AMF) and the Autorité de Contrôle Prudentiel et de Résolution (ACPR) in France have published the 4th edition of their joint report on the monitoring and assessment of the climate commitments made by Paris financial centre participants. This report is… Read More

June 21, 2024 @ 2:34 pm By Omar Faridi  |  

Verifi notes in a blog post that Visa post-purchase dispute volumes went up more than 7% in 2023 alone. As mentioned in the update from Verifi, the combination of “lost sales, dispute fees, operational costs, relating to disputes, can cause merchants to lose unnecessary revenue.”… Read More

June 21, 2024 @ 1:28 pm By Omar Faridi  |  

PayPal Ventures is leading Gynger‘s $20 million Series A round. Gynger, the embedded financing platform for technology purchases, also announced the close of “up to $100 million debt facility to fuel its growth.” Gynger, the embedded financing platform for technology purchases, had its investment round… Read More

June 21, 2024 @ 1:01 pm By Omar Faridi  |  

The wCBDC pilot on SIX Digital Exchange will continue over the next two years. The Swiss National Bank (SNB) announced the continuation of the Helvetia Pilot focusing on tokenized securities settlement on SIX Digital Exchange (SDX) in Swiss franc digital central bank money for financial… Read More

June 21, 2024 @ 12:37 pm By Omar Faridi  |  

In May, Chime announced the news of its latest product innovation: MyPay. Consumers across the country are done waiting for payday, Chime notes while claiming that within 48 hours of sharing the news of MyPay and early access to the product “for eligible members, more… Read More

June 21, 2024 @ 12:32 pm By Omar Faridi  |  

OpenWealth, the CaixaBank subsidiary dedicated to providing independent wealth advisory services for large clients, surpassed €7.3 billion in assets under supervision at the end of April 2024, reportedly making it “not only the largest wealth advisory firm for Ultra High Net Worth clients, but also… Read More

June 21, 2024 @ 12:26 pm By Omar Faridi  |  

Consumers are spending twice as much when they use their credit cards for interest-free installments compared to traditional Buy Now, Pay Later (BNPL) plans, according to new first-party research shared by Splitit (ASX:SPT). The report, Merchants’ Evolving Perspective On the Value of Card-Linked Pay Later… Read More

June 21, 2024 @ 12:25 pm By Michael Wong  |  

The Securities and Exchange Commission of Ghana (SEC) and the United Nations Capital Development Fund (UNCDF) unveiled comprehensive guidelines for equity and investment-based crowdfunding. This landmark initiative, crafted in partnership with key stakeholders and with substantial technical support from Lelapa African FinTech Advisory, represents a… Read More

June 21, 2024 @ 9:30 am By Omar Faridi  |  

Investments into the e-commerce enablement ecosystem contracted in Q1, producing $1.7 billion across 83 deals, marking decreases of 52.2% and 26.5%, respectively, relative to Q4 seasonal increases. This, according to a report from PitchBook. PitchBook further noted that Q1 2024 approached parity “with Q3 2023,… Read More

June 21, 2024 @ 8:19 am By Omar Faridi  |  

Trulioo, an identity platform with proven global coverage for person and business verification, today announced a strategic partnership with Capital.com, a retail trading platform, to support its global expansion with streamlined, convenient onboarding. Capital.com, whose client trading volumes “exceeded $1 trillion in 2023, is one… Read More