September 8, 2023 @ 10:33 am By JD Alois  |  

In a speech delivered at the Annual Fintech Conference in Philadelphia, US Federal Reserve Vice Chair for Supervision Michael S. Barr spoke about the Fed’s role in supporting innovation. Barr noted that not that long ago, cash in trucks was the preferred method of moving… Read More

September 8, 2023 @ 10:04 am By JD Alois  |  

The US Commodity Futures Trading Commission (CFTC) announced charges targeting three DeFi, or decentralized finance, operations yesterday. These included Deridex, ZeroX, and Opyn. The CFTC alleges the offering of illegal derivatives trading. The CFTC charged Deridex and Opyn with failing to register as a swap… Read More

September 8, 2023 @ 9:42 am By Omar Faridi  |  

Executing on its global approach to building an end-to-end financial technology platform, Adyen’s UK banking authorization secures ongoing service levels for UK businesses. Adyen (ADYEN:AMS), the global financial technology platform of “choice” for businesses, announced that its UK branch has been “granted authorization as a… Read More

September 8, 2023 @ 8:46 am By Omar Faridi  |  

A market report shared with CI reveals that UK hiring activity has slowed down, with London set to lose another name. As noted in the update: FTSE 100 opens marginally higher, reports show UK hiring activity slowed in August Competition probe wipes hundreds of millions… Read More

September 8, 2023 @ 8:43 am By Omar Faridi  |  

Digital bank Zopa has raised £75 million ($95m) in Tier 2 capital in order “to further accelerate its growth, supporting its vision to become Britain’s best bank.” The funding will ” fuel Zopa’s continuous growth and expansion.” It brings the total capital raised by Zopa… Read More

September 8, 2023 @ 8:41 am By JD Alois  |  

The Securities and Exchange Commission has settled charges against Linus Financial, Inc. for failing to register the offers and sales of its retail crypto lending product, the Linus Interest Accounts. The SEC decided against having Linus pay penalties as the company took “prompt remedial actions”… Read More

September 8, 2023 @ 7:55 am By Tony Zerucha  |  

Koverly, a globally-focused fintech that integrates business-to-business buy now, pay later (BNPL) solutions into a digital payment platform, this week announced the addition of Ben Haddon as its vice president of credit and revenue. Haddon is expected to scale the company’s lending capacity to $70… Read More

September 8, 2023 @ 6:28 am By Tony Zerucha  |  

Global compliance technology solutions and services provider Sovos this week announced the addition of two technology industry veterans to its executive leadership team. Alice Katwan joins as president of revenue, and Eva Krauss returns as chief transformation officer. Both are new roles. In a statement,… Read More

September 8, 2023 @ 4:50 am By Tony Zerucha  |  

The American Fintech Council, an industry association representing fintech companies and banks, this week announced that EarnIn has become its newest member. EarnIn will join a growing group of diverse industry-leading earned wage access  companies. “EarnIn will add an important voice to a growing chorus… Read More

September 7, 2023 @ 10:55 pm By Omar Faridi  |  

Mastercard (NYSE: MA) and Fintech Saudi have announced the signing of a memorandum of understanding during Seamless Saudi Arabia 2023 “to advance the growth and development of the Saudi Arabia fintech industry.” The announcement marks another step “towards powering an inclusive digital economy and advancing… Read More

September 7, 2023 @ 10:25 pm By Omar Faridi  |  

Finastra announced that LaserPro, its loan document preparation system used by more than 2,500 financial institutions, is now available in the cloud. This strategic launch of LaserPro in the cloud streamlines loan document compliance management capabilities “for financial institutions with a Software as a Service… Read More

September 7, 2023 @ 10:19 pm By Omar Faridi  |  

Nu Mexico announces the launch of its new product: personal loans. Like all Nu products, the launch will follow “a phased rollout process, starting in the coming days with a group of employees who will begin testing the product, to then expand the offering to… Read More

September 7, 2023 @ 10:18 pm By Omar Faridi  |  

Commonwealth Bank of Australia (CBA) announced its venture-scaling arm, x15ventures, has entered an agreement “to acquire cloud-based invoice lending platform Waddle, accelerating the bank’s ambition to provide leading working capital solutions for Australian businesses.” CBA has an existing partnership with Waddle “through its Stream Working… Read More

September 7, 2023 @ 10:16 pm By Omar Faridi  |  

The Fundrise Innovation Fund has invested $2 million into Jetty, a financial services platform for the rental real estate industry. Rental housing represents roughly 12% of US GDP, “making it the largest addressable market by several measures.” Yet, it has historically “been overlooked in spite… Read More

September 7, 2023 @ 8:30 pm By Omar Faridi  |  

evolutionQ, a quantum-cybersecurity company, is pleased to announce a contract to contribute to a Bank of Canada research project involving quantum-safe cybersecurity technologies for greenfield digital currencies. This work highlights the commitment of evolutionQ “to understanding the risk posed by quantum computers to emerging financial… Read More

September 7, 2023 @ 4:26 pm By JD Alois  |  

The House Financial Services Committee has announced a hearing on the digital dollar or Central Bank Digital Currency (CBDC), held by the Subcommittee on Digital Assets, Financial Technology (Fintech), and Inclusion. Scheduled to take place on Thursday, September 14 at 2PM ET, the hearing is… Read More

September 7, 2023 @ 3:48 pm By JD Alois  |  

Multiple reports have indicated that Ryan Salame, a former FTX executive, has pleaded guilty today in Federal Court for his activities surrounding the failure of FTX, which saw billions of dollars lost. Salame was at one point the co-CEO of the FTX subsidiary that operated… Read More

September 7, 2023 @ 3:28 pm By JD Alois  |  

At a speech delivered to the pro-market Cato Institute, CFTC Commissioner Caroline Pham has called for a Regulatory Sandbox. The UK Financial Conduct Authority (FCA) pioneered the Sandbox concept. The approach was to allow innovative Fintech firms to test products and services under the watchful… Read More

September 7, 2023 @ 3:11 pm By Omar Faridi  |  

In the inaugural Small Business Financial Confidence Report, it was revealed that 54% of small business owners surveyed stated they “felt very confident in their ability to make sound growth decisions.” The latest data polled and shared by American Express (NYSE: AXP) two months later… Read More

September 7, 2023 @ 12:07 pm By JD Alois  |  

Real estate investment platform Groundfloor says it has surpassed $500 million in loan repayments. This includes both principal and interest paid. Groundfloor says that it is currently home to over 230,000 registered investors. Currently, Groundfloor reports that it has nearly $300 million in Assets Under… Read More