May 27, 2024 @ 9:59 pm By Omar Faridi  |  

Tata Consultancy Services (TCS) (NSE: TCS), a global enabler of IT services, consulting, and business solutions, has signed a deal to modernize the core banking technology of Burgan Bank, a commercial bank in Kuwait. The bank will deploy TCS BaNCSTM to “consolidate multiple standalone legacy… Read More

May 27, 2024 @ 9:58 pm By Omar Faridi  |  

As fraudsters seek new ways to exploit technology, Mastercard (NYSE: MA) is using generative AI to double the speed at which it can detect potentially compromised cards, further protecting cardholders and securing the ecosystem. Fraudsters steal millions of payment card numbers “through spyware, malware, and… Read More

May 27, 2024 @ 9:57 pm By Omar Faridi  |  

SilverRock Bank recently announced the granting of its banking authorization with restrictions by the Prudential Regulation Authority after the completion of a £50m investment round. SilverRock’s business model and overall strategy is mainly said to be built to partner with non-bank and other lenders to… Read More

May 27, 2024 @ 5:16 pm By Omar Faridi  |  

UK digital bank Starling might reach a valuation of nearly £10 billion within the coming years as it introduces its banking software internationally for competitive fees. This, according to one of its key investors. Investment trust Chrysalis, which is reportedly Starling’s second-largest investor, told the… Read More

May 27, 2024 @ 2:18 pm By Omar Faridi  |  

Contactless payments acceptance technology makes it easier for Canadian businesses to get started and create new ways to sell. Square has recently launched Tap to Pay on iPhone in Canada, allowing Square sellers to be among the first businesses in the country to try the… Read More

May 26, 2024 @ 10:45 pm By Omar Faridi  |  

Wealth platform Lightyear is announcing the launch of its high interest Vaults. These will reportedly be paying UK savers 5.19% AER – which is said to be “the highest rate currently available out of all flexible interest-earning products with no strings attached in the UK.”… Read More

May 26, 2024 @ 8:47 pm By Michael Wong  |  

Colendi, a digital banking startup based in Turkey, has successfully raised $65 million in a Series B funding round, marking a significant milestone for the country’s fintech sector as it enters 2024 with strong momentum. This funding round has propelled Colendi’s valuation to an impressive… Read More

May 26, 2024 @ 8:15 pm By Omar Faridi  |  

Alto, an alternative asset platform that enables individuals to invest in alternative assets using both retirement and non-retirement funds, has launched Alto Marketplace, a new part of the Alto platform dedicated “to curating private alternative investment opportunities for eligible investors.” The offerings on Alto Marketplace… Read More

May 26, 2024 @ 7:43 pm By Michael Wong  |  

Aeon Bank (M) Bhd officially launched its digital bank on Sunday, marking a historic milestone as Malaysia’s first Islamic digital bank. The launch aims to provide comprehensive, shariah-compliant digital banking solutions to all Malaysians. At the press conference held during the public launch ceremony, Chief… Read More

May 26, 2024 @ 7:18 pm By Omar Faridi  |  

Younger Australians in their mid-to-late-twenties have pulled back on spending more than any other age group, while those over 65 continue to spend above the rate of inflation, according to the latest CommBank iQ Cost of Living Insights Report. Those aged 25-29 have reduced “spending… Read More

May 26, 2024 @ 5:27 pm By Tony Zerucha  |  

This week, Marqeta welcomed the recent Consumer Financial Protection Bureau (CFPB) rule on BNPL providers. In a statement, Marqeta said it appreciates the agency’s efforts to promote consistent consumer protection standards, including for BNPL. “As BNPL providers reach greater levels of mainstream adoption, industry standardization… Read More

May 26, 2024 @ 5:07 pm By Omar Faridi  |  

Neo Financial announced that the Neo Secured Credit card, along with all Neo credit card products, will now report to Equifax Canada, in addition to its existing reporting to TransUnion, giving Canadians a full credit profile for broader lender acceptance. The Neo Secured Credit card… Read More

May 26, 2024 @ 5:03 pm By Omar Faridi  |  

Embedded finance firm Weavr has revealed in new research that the overwhelming majority of business-to-business SaaS product managers plan to adopt and utilize embedded finance as part of their near-term roadmap. The new research, entitled ‘The next step for B2B SaaS’, captured the following key… Read More

May 26, 2024 @ 4:16 pm By Omar Faridi  |  

Zillow (NASDAQ: Z and ZG) is releasing its open-source Fair Housing Classifier, which establishes guardrails to promote responsible and unbiased behavior in real estate conversations powered by large language model (LLM) technology. The Fair Housing Classifier acts as “a protective measure, to encourage more equitable… Read More

May 26, 2024 @ 3:54 pm By Omar Faridi  |  

ClearBank recently explained how it is supporting WealthKernel to enhance the scalability of its service and underpin its clients’ ability to streamline the investment process. Founded in 2015, WealthKernel is a provider of investment infrastructure for companies looking to offer investment services, whether as stand-alone… Read More

May 26, 2024 @ 3:21 pm By Omar Faridi  |  

DriveWealth, a financial technology platform providing Brokerage-as-a-Service, announced  the hiring of two new executives: Kyla Murphy, as Chief Product Officer and Lauren Veisz as Head of Operations. In their respective roles, Murphy and Veisz will “help to further expand DriveWealth’s footprint in global markets, develop… Read More

May 26, 2024 @ 2:51 pm By Omar Faridi  |  

Every economic cycle has its “currency war,” according to an update from iBanFirst. In the 1920s, France, Germany, and Belgium “devalued their currencies to return to the gold standard, which had been abandoned during World War I.” In the 1930s, major global economies “resorted to… Read More

May 26, 2024 @ 2:42 pm By Michael Wong  |  

Approximately 60% of U.S. cryptocurrency investors admit they do not understand blockchain technology, according to a recent survey conducted by language-learning company Preply. The survey, which included responses from 1,001 people living in the U.S., examined participants’ knowledge, interest, and experience with cryptocurrency. The findings… Read More

May 25, 2024 @ 3:16 pm By Omar Faridi  |  

As generative AI continues to transform industries, Billtrust, a B2B order-to-cash and digital payments market leader, released a new report uncovering perspectives from U.S. CFOs on the adoption and impact of this disruptive technology. Billtrust‘s “Generative AI & The Office of the CFO” report surveyed… Read More

May 25, 2024 @ 2:58 pm By Omar Faridi  |  

AvidXchange (Nasdaq: AVDX), a provider of accounts payable (AP) automation software and payment solutions for middle market businesses and their suppliers, announced a strategic partnership with MIP Fund Accounting by Community Brands (MIP) in combination with a new invoice-to-pay application programming interface (API) integration. This… Read More