Tagged: financial services

December 10, 2020 @ 8:33 pm By Omar Faridi  |  

Gaelle Olivier, CEO at Societe Generale (EPA:GLE) for Asia Pacific, a French multinational investment bank and financial services company with around €1.3 trillion in assets, argues that traditional banks should not think of Fintechs as direct competition. Olivier, whose comments came during a CNBC interview,… Read More

December 9, 2020 @ 10:30 pm By Omar Faridi  |  

Mexico-based digital bank albo has secured $45 million in capital through an investment round in order to expand its operations into lending and insurance services. Several investors took part in albo’s latest round, including Valar Ventures, Greyhound Capital, Mountain Nazca and Flourish Ventures. The digital… Read More

December 9, 2020 @ 7:36 am By Omar Faridi  |  

The global shift by individuals and organizations towards working from home during the COVID-19 pandemic has led to a significant increase in the overall costs related to cybercrime – which is on track to surpass $1 trillion this year for the very first time ever…. Read More

December 8, 2020 @ 9:31 pm By Omar Faridi  |  

Ralph Hamers, CEO at UBS Group AG (SWX: UBSG), a Swiss multinational investment bank and financial services company based in Switzerland with around $1 trillion in assets, has noted that innovation and collaboration haven’t really been the norm for many traditional financial institutions. Hamers, whose… Read More

December 5, 2020 @ 8:38 pm By Omar Faridi  |  

Reuben Lai, Senior Managing Director at Grab Financial Group, has said that he’s really excited and honored to confirm that Grab’s consortium with Singtel has acquired the digital full bank license from the Monetary Authority of Singapore (MAS). As reported recently, the MAS revealed the… Read More

December 5, 2020 @ 7:52 pm By Omar Faridi  |  

The COVID-19 pandemic has led to businesses or companies adopting artificial intelligence (AI) based solutions. Firms operating in nearly every sector have integrated AI and automation software according to a new survey of professionals working in the financial services sector. Nearly 66% or two-thirds of… Read More

December 4, 2020 @ 7:51 am By Omar Faridi  |  

We recently connected with Scott Freeman, Co-Founder and Partner at JST Capital, a New York-based financial services firm currently focused on the digital asset market. The partners of JST have spent more than twenty years working in the traditional financial services sector. They’ve now entered… Read More

December 3, 2020 @ 10:32 pm By Omar Faridi  |  

JPMorgan (NYSE:JPM), the largest US bank, is reportedly planning to acquire Fintech firm 55ip in order to assist financial advisors with setting up tax-efficient investment portfolios. JPMorgan Chase’s management noted that the bank’s asset management unit has decided to buy Fintech company 55ip so that… Read More

December 2, 2020 @ 9:31 am By Samantha Hurst  |  

Step, a U.S.-based financial services company built for teens and families, announced on Wednesday it secured $50 million through its Series B round, which was led by Coatue, with participation from returning investors Stripe, Crosslink Capital, Collaborative Fund, and Will Smith’s Dreamers VC. To-date, Step… Read More

November 29, 2020 @ 11:20 pm By Omar Faridi  |  

Vietnam’s Fintech startup ecosystem has grown significantly between 2017 and 2020, according to a new report. There were 44 Fintech-related startups in the country in 2017 and now there are at least 123 financial technology firms, Fintech News Singapore confirmed. The number of Fintechs operating… Read More

November 29, 2020 @ 4:12 pm By Omar Faridi  |  

Paxful, a leading peer-to-peer cryptocurrency marketplace, recently published the results of a survey performed with assistance from OnePoll on “the state of the financial climate” in the UK. As noted in a blog post by Paxful, sentiments include recent notions about the country’s traditional banking… Read More

November 28, 2020 @ 2:45 pm By Omar Faridi  |  

Bitcoin (BTC), the flagship cryptocurrency, is considered a legitimate store of value (SoV) by many investors, as it allows them to hedge against “expansionist monetary policies,” according to a blog post by Ledger Vault, a digital asset security solution for financial institutions, powered by Ledger… Read More

November 28, 2020 @ 12:51 pm By Omar Faridi  |  

Brian Armstrong, Co-founder and CEO at Coinbase, the leading US-based digital asset exchange, notes that this past week, the company heard rumors that the U.S. Treasury and Secretary Mnuchin had been planning to “rush out” some new regulations for self-hosted cryptocurrency wallets  – which would… Read More

November 27, 2020 @ 4:58 pm By Omar Faridi  |  

Copenhagen-based Danske Bank (CPH: DANSKE), a major retail bank with more than 5 million retail customers, recently laid off 257 workers and finalized voluntary redundancy terms with another 261 employees as part of the banking service provider’s 2-year strategic overhaul of operations. The recently announced… Read More

November 24, 2020 @ 7:48 am By Omar Faridi  |  

Capgemini has released a new report titled, Payments – Top Trends 2021: Drivers, Opportunities, and Risks Shaping Financial Services. While highlighting key Fintech trends in the payments sector, the extensive report noted that Payments-as-a-Service has gained significant “traction” among small- and mid-tier institutions. It added… Read More

November 11, 2020 @ 11:14 pm By Omar Faridi  |  

Anchorage, a company that aims to help institutional clients with adopting digital assets, has announced that it has passed another significant milestone on its journey as the leading crypto-asset platform for institutional investors. Jennifer Lee, Head of Compliance at Anchorage, confirmed that the company has… Read More

November 10, 2020 @ 10:11 pm By Omar Faridi  |  

UAE-based BankOnUS, a major financial services aggregator, has introduced an AI-powered app that aims to offer reliable and cost-effective financial solutions. The app allows users to access several different financial products and services from one wallet or interface. As mentioned on BankOnUs’ official website, the… Read More

November 10, 2020 @ 7:02 am By Omar Faridi  |  

UK Chancellor Rishi Sunak updated the House (on November 9, 2020) regarding ongoing plans for the country’s financial services industry, which is one of the “most productive and innovative sectors.” Sunak believes that financial services will be essential to the UK’s economic recovery from the… Read More

November 9, 2020 @ 10:17 pm By Omar Faridi  |  

Australia-based Fintech firm Finspo, which offers an aggregated view of the cost of banking services used by consumers, has reportedly decided to branch out into the mortgage broking business. Finspo’s management has confirmed that they’ll introduce a mortgage broking capability as part of the company’s… Read More

November 4, 2020 @ 10:17 pm By Omar Faridi  |  

New Zealand’s Financial Markets Authority (FMA) has hired two specialists who are focused on helping the regulator with managing and overseeing Fintech and environmental, social and corporate governance (ESG) projects. Binu Paul, a Fintech entrepreneur, will be serving as Specialist Lead, Fintech. He’ll be reporting… Read More