Tagged: digital finance

Security.org Report Analyzes Credit Card Fraud

Even though credit card fraud is increasing in the United States, a report from security.org said it is still poorly understood. As more people use cards and spend digitally, it opens the door for fraudulent activity; in 2023, an estimated 52 million Americans suffered credit… Read More

Bank of Uganda Sets ID Verification for Large Digital Transactions

The Bank of Uganda (BoU) has mandated ID verification for all digital transactions exceeding one million Uganda shillings ($260), according to local reports. Announced on April 19, 2024, through its official X account, this directive requires users to present a government-issued ID for transactions at… Read More

Betterment Announces Addition of New Mutual Funds to Custom Portfolio Construction Options

Betterment, the largest independent digital financial advisor, announced that Betterment for Advisors, its RIA custody division, is adding thousands of mutual funds to its custom portfolio construction menu for the first time. This launch coincides with the 100th anniversary of the mutual fund and provides… Read More

Digital Finance for All Initiative Introduced by Visa and GSMA Mobile for Development Foundation

Visa (NYSE: V), a global payments technology company, and the GSMA Mobile for Development Foundation (GSMA Foundation) announced the launch of the Digital Finance for All (DFA) Initiative, “furthering Visa’s decades-long efforts to increase access to the global economy for everyone, everywhere.” This five-year initiative… Read More

Singapore, China Enhance Digital Finance Cooperation

The Monetary Authority of Singapore (MAS) has announced a series of new initiatives in digital finance and capital markets, aimed at strengthening financial cooperation with China. These initiatives were unveiled at the 19th Joint Council for Bilateral Cooperation (JCBC) in Tianjin, co-chaired by Singapore Deputy… Read More

Fintechs Adyen and Plaid to Enable Pay-by-Bank Services in North America

Adyen (AMS: ADYEN), the global financial technology platform of choice for leading businesses, is pleased to announce its Pay-by-Bank services in North America will launch in early 2024 in partnership with Plaid, the digital finance innovator that makes it easy, safe and reliable for people… Read More

Multi-Currency Digital Platform YouTrip Raises $50m to Further Expand in SE Asia

YouTrip, a multi-currency digital payments platform in Southeast Asia, has successfully secured $50 million in its latest Series B fundraising round, according to an announcement. This round was led by Lightspeed, a global venture capital firm and a new investor in YouTrip, propelling the company’s… Read More

Fintech: Digital Finance Platform Funding Societies Secures $27m in Debt

Funding Societies, also known as Modalku, Southeast Asia’s largest unified SME digital finance platform, has successfully secured $27 million in debt funding, led by private credit financier AlteriQ Global. Multi-family office Aument Capital Partners (ACP) and sustainability-focused fund Orange Bloom also contributed to this funding… Read More

Latin America: Fintech Dock Launches Responsible Credit Solutions to Enable Financial Inclusion

Dock, an innovator in payments and digital finance infrastructure across Latin America, announced the launch of Responsible Credit Solutions on its proprietary Dock One platform. These solutions enable businesses “to offer an array of flexible, customizable credit and loan products to their customers in a… Read More

Digital Finance Innovator IntellectEU Becomes AWS Services Delivery Partner for Swift Connectivity

IntellectEU, an innovator in digital finance and emerging technologies, is now an Amazon Web Services (AWS) services delivery partner. IntellectEU will “support migration of Swift infrastructure to AWS cloud and provide integration and deployment of API channels, along with ISO 20022 advisory services.” Sigrid Wiley,… Read More

Digital Finance Firm Nu México Announces Launch of Cuenta Nu in Mexican Market

Nu México, a digital finance company, announces the launch of Cuenta Nu to the entire Mexican market, starting May 4, 2023. Cuenta Nu reportedly “offers its clients 24/7 liquidity and one of the most competitive yield rates on the market, 9% per year, without the… Read More

Southeast Asia’s Digital Finance Platform Akulaku Announces $200M Investment from MUFG

Akulaku, a banking and digital finance platform in Southeast Asia, announced a $200 million investment from Japanese bank Mitsubishi UFJ Financial Group (MUFG). The investment round “provides additional support for Akulaku’s projected growth as it advances towards its mission of providing banking services across Southeast… Read More

Mohammad Raafi Hossain: CEO at Digital Asset Firm Fasset Explains Why They’re Focused on Southeast Asia

  We recently connected Mohammad Raafi Hossain, CEO & Co-Founder at Fasset, an international digital asset gateway. Fasset Technologies Limited recently partnered with Mastercard to expand financial services in Indonesia and create opportunities for underserved consumers The announcement follows Fasset’s $22 million Series A from… Read More

SocietyOne Introduces Transaction, Savings Accts Powered by Westpac

In its “first” major corporate milestone following its acquisition by MONEYME Ltd (ASX:MME), digital finance platform SocietyOne has launched transaction and savings accounts “powered by Westpac’s Banking-as-a-Service (BaaS).” SocietyOne is Westpac’s second partner “to launch products through its BaaS platform with two new additions to… Read More

Digital Ecosystem Stere Welcomes $2M Seed Funding Infusion

Stere, a digital ecosystem catering to managing general agents and insurance companies, this week announced the closure of its seed funding round. The $2 million round is led by Fin VC, with participation from Plug and Play Ventures, Sandalphon Capital and Hartford Investment Management Company…. Read More

Nigeria Updates Mobile Money Operator Guidelines

Nigerian banking regulators have released new guidelines governing the services offered by the country’s mobile money operators (MMO). It is the first update in six years and is meant to address the sweeping changes seen since 2015. Ibrahim Moshood, an associate with Centurion Law Group,… Read More

SEBA Bank Adds Aave, Chainlink Support

SEBA Bank, a FINMA-licensed Swiss Bank, this week added support for Aave (AAVE) and Chainlink (LINK) tokens. The two coins’ combined market cap is north of $12 billion.  With this integration, institutions can now actively manage these DeFi tokens across SEBA Bank’s full suite service offering,… Read More

Traditional Financial Services Competing With Digital Upstarts for Mass Affluent: GlobalData

Traditional financial managers for the mass affluent better keep up with the times or they’ll risk losing those commissions, research from GlobalData suggests. Digital finance has developed a range of solutions for people from all wealth categories, including those at the top. Those services offer… Read More

Microbusiness Financial Challenges Outlined in Wave Study

Microbusiness owners are hurt by the delay in receiving payments, results of a survey by small business money management solution Wave suggest. The company surveyed more than 1,000 owners of companies with fewer than 10 employees. One in four respondents have waited more than a… Read More

Digital Insurance Company Spot Raises $17.5M

Digital insurance startup Spot has raised $17.5 million in funding, including $15 million in equity and $2.5 million in debt. The round was led by GreatPoint Ventures, with participation from Montage Ventures, Mutual of Omaha, MS&AD, and Silverton Partners. Mike McCormick, principal at GreatPoint Ventures,… Read More

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