Tagged: digital technology

Fraudulent Activities via Online Platforms have Increased Significantly as More Transactions are Now Conducted via the Internet

The COVID-19 outbreak has forced individuals and businesses to adopt new working practices and move their operations online. This has led to a considerable increase in fraudulent activities being carried out via digital platforms, because many more transactions are now conducted online or via the… Read More

Fintech Consumers of 2030 could be More “Data-Aware” and “Discerning” in What Information They Share, KPMG Report Predicts

Big Four auditing firm KPMG in Australia has released a report, titled, The 30 Voices, which aims to cover “every facet” of financial services and beyond. It features insights related to developments from incumbents to banking challengers, Big Tech firms to investors, legislators to academics…. Read More

Advanced Facial Biometrics Now Being Used by Singapore’s DBS Bank to Perform Data Authentication and Verification

Singapore-based DBS Bank Ltd (SGX:D05), a multinational banking and financial services corporation with over $330 billion in assets, is reportedly using facial biometrics for handling online corporate account opening processes for small businesses. This should help the bank with speeding up information authentication and verification…. Read More

Sunayna Tuteja, the Former TD Ameritrade Head of Digital Assets, Hired by US Fed as Chief Innovation Officer

Sunayna Tuteja, the former Managing Director, Head of Digital Assets & DLT (Blockchain, Crypto) at TD Ameritrade, has now been hired by the US Federal Reserve System as its Chief Innovation Officer. Tuteja has been a vocal supporter of Bitcoin. She claims to have gotten… Read More

Nina Stoyanova from Bulgarian National Bank Says Digital Technologies have Improved the Financial Services and Payments Sector

Nina Stoyanova, Deputy Governor and Head of the Banking Department of the Bulgarian National Bank, has noted that digital technologies have significantly changed the financial services provision business, and the payment sector is “the leader in this trend.” Stoyanova notes that the overall speed of… Read More

TransferWise Co-Founder Taavet Hinrikus Is Launching New Startup Focused on Combating COVID-19 Pandemic

After disrupting the world of finance, particularly how cross-border transactions are settled, TransferWise Co-founder Taavet Hinrikus says he wants to develop solutions to combat the COVID-19 pandemic. Hinrikus confirmed that he’s launching a new startup called Certific, which will be focused on improving the overall… Read More

Personal Finance Survey Reveals that 67% of Individuals Trust Robots More than Humans to Manage their Investments

We’ve been trusting robots to manage money more than we “trust” ourselves, according to a recent study from Oracle and personal finance specialist Farnoosh Torabi. The global survey of over 9,000 individuals across 14 different countries revealed that the COVID-19 pandemic has “increased finance-related stress… Read More

Digital Commerce: Majority of Online Shoppers in the UK Use Smartphones to Settle Transactions, Juniper Research Reveals

The team at Juniper Research, an analyst house focused on digital technology market research and related Fintech trends, technology data, market sizing, and consulting, notes that e-commerce and financial services have become a key part of many consumers’ lives in a post-COVID world. The Juniper… Read More

New Digital Commerce Platform Introduced by Major Malaysian Banking Group HLB to Meet Growing Demand for Online Services

Hong Leong Bank Berhad (MYX:5819), a major public listed banking group in Malaysia, has revealed that it’s launching a digital commerce platform that will offer an official store on Shopee Mall. This should allow HLB’s clients to sign up for various banking products and services… Read More

Fintech Firm Blend Explains how Relationship Banking can be “Reframed” for an “Increasingly Digital” Environment following COVID Outbreak

San Francisco-based Blend, which claims to offer market-leading digital lending technology that makes the process of acquiring a loan simpler, faster, and safer, recently shared key insights on “reframing relationship banking for an increasingly digital world.” Fintech firm Blend, which recently acquired $300 million in… Read More

Fintech Adoption in Pakistan and Digital Transformation Supported by Local Fintechs Could Improve Tax Collection: PM Imran Khan

The team at Islamabad-based Fintech firm SadaPay has been introducing innovative and appealing financial products and services that are focusing on younger consumers in Pakistan. SadaPay is offering black, sleek premium spending cards which may be comparable to some of the cards offered by European… Read More

Ripple’s RippleNet Cloud Product Reportedly Offers Highest Standard in Safety, Security, Privacy, Is Now SOC 2 Certified

Fintech firm Ripple notes that in May 2020, McKinsey had identified that consumer and enterprise digital adoption had “matured five years, in a matter of eight weeks.” For financial institutions, digital technologies — such as Cloud-enabled models — provide the flexibility and scalability needed to… Read More

New Money Market Mutual Fund Is Being Offered via Indonesia’s OVO Mobile App through Partnership with Local Firms

Indonesian digital wallet provider OVO has teamed up with Manulife Aset Manajemen Indonesia (MAMI) and its partner Bareksa in order to introduce an instant redemption mutual fund. OVO stated that the new offering is the first of its kind in the Southeast Asian country. The… Read More

Switzerland based Wealth Management Fintech WealthArc Acquires $4M in Capital to Expand Overseas Operations

Switzerland-based wealth management Fintech WealthArc is reportedly planning to strengthen and expand its overseas business after acquiring over $4 million in capital. WealthArc’s Cloud-enabled platform is being used by wealth management services to access investment data that is automatically gathered and curated by AI algorithms…. Read More

Wealth Management and Fintech Veteran Bob Miller from PCR Says Digitalization Is “A Real Thing” Driving the Industry Forward

Robin Melnick, Director, Alliances & Partnerships at Addepar, a leading provider of technology for the wealth management industry, recently connected with Bob Miller, CEO of PCR, a private client wealth aggregator assisting wealthy families, their advisors, and wealth tech companies develop “winning” digital transformation strategies…. Read More

Fintech Firms are Disrupting Corporate Banking in Major Ways According to Cross-Border Payment Platform Currencycloud

The team at Currencycloud, a cross-border payment platform, notes that there are several different ways that Fintech companies are “disrupting” corporate banking. Currencycloud explains that in today’s interconnected society, we “expect the world to be at our fingertips.” Apps allow us to easily conduct business… Read More

Digital Transformation: Germany’s Commerzbank to Invest €1.7B into Digitizing Banking Operations, will Close Down Many Physical Branches, Lay Off Staff

Germany-based lending company Commerzbank has announced that it will be cutting around 10,000 jobs and will permanently shut down 340 branches by 2024. The company confirmed that it plans to focus more on its digital transformation strategy so that it can lower operational costs and… Read More

AI enhanced Trade Finance Network Tradeteq Secures $9.4 Million via Series A Round from US Tech Investors

Tradeteq, a company that offers an AI-enhanced collaborative network for trade finance investors and originators to connect, interact, and transact, has finalized its $9.4 million Series A investment round from a group of US-based tech investors. Tradeteq has now raised over $16 million since it… Read More

Visa Research Shows Card Not Present or CNP Transactions and Consumer Spending Increased 30% from 2017 to 2020

Los Angeles based Verifi, a company that claims it has been leading the dispute management and payment protection sector for sellers and issuers since 2005, notes that when their platform was first launched, the term “Fintech” was “just gaining traction.” Matt Katz, CEO at Verifi,… Read More

70% of Hedge Fund Managers are Now Hosting At Least Part of their IT and Fintech Platforms in the Cloud: Survey

Enfusion, an established provider of global investment management software and fund services that’s focused on “automating and simplifying full front-to-back office functionality with one vendor,” notes that as funds continue to grow, many patch together tech solutions, adding new functionality or capabilities as they become… Read More

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