Tagged: financial services

August 18, 2023 @ 12:08 pm By Omar Faridi  |  

The Dallas Stars and American Airlines Center have contracted DailyPay, in order “to provide the essential financial wellness benefit of on-demand pay to arena and team employees.” DailyPay will also be designated as the official ‘On-Demand Pay Partner’ for the Dallas Stars and American Airlines… Read More

August 18, 2023 @ 12:01 pm By Omar Faridi  |  

Artificial Intelligence has considerably impacted the financial services industry in recent years, especially since the advent of OpenAI in late 2022. According to the Economist Intelligence Unit, 54% of financial services organizations with over 5000 employees “have implemented AI systems.” Most recently, the now-familiar customer-facing… Read More

August 18, 2023 @ 11:33 am By Omar Faridi  |  

Amidst the rapid change brought about by digital transformation and artificial intelligence (AI) in the financial services landscape, Eltropy’s CFI customers are adding AI Chat to their member/customer service offering, “providing them with round-the-clock service, optimizing agent efficiency to focus on more complex issues, and… Read More

August 17, 2023 @ 3:22 pm By Omar Faridi  |  

Veteran-led Citizens Bank of Edmond publicly launched Roger, the only digital-first bank tailored to service members, “under the leadership of President and CEO Jill Castilla.” Established in 1901 with $375 million in assets, Citizens Bank of Edmond is renowned “for its community-focused banking and lending… Read More

August 17, 2023 @ 12:55 pm By Omar Faridi  |  

Corserv, a company that empowers banks and fintechs with payment programs, has partnered with Ohio-based Peoples Bank in order “to implement a credit card program to serve their commercial, small business, nonprofit, local municipalities, and consumer customers.” Peoples Bank is “a $8.8 billion full-service relationship… Read More

August 17, 2023 @ 8:41 am By Omar Faridi  |  

Brex, which claims to be the first fully unified global spend platform, today launched group events — an expansion of Brex travel that “enables businesses to create and manage large scale, group corporate events for employees.” With this launch, Brex says it is “the first… Read More

August 17, 2023 @ 8:28 am By Omar Faridi  |  

Klar, S.A. de C.V., the Mexico City-based digital financial services platform, announced that it has secured a $100 million credit facility from Victory Park Capital (VPC), a global alternative investment firm specializing in private credit. The financial support from VPC will aim to “propel Klar… Read More

August 16, 2023 @ 8:39 am By Omar Faridi  |  

Eleving Group has announced unaudited results for the first half of 2023. The company has provided the following operational and financial information: Eleving Group reveals that it “recorded €90.6M in revenues in Q2 2023. Lease and subscription-based products contributed to €25.2M of the revenue, up… Read More

August 16, 2023 @ 8:30 am By Omar Faridi  |  

  We recently caught up with the former CEO of Midas Finance, who built a $300 million crypto-fund that has gone bankrupt with the CeFi market collapse and who claims he has taken all his lessons with him to revive growth back into DeFi with… Read More

August 15, 2023 @ 10:51 pm By Omar Faridi  |  

From today, TSB is taking applications for fintechs to participate in its third annual TSB Innovation Labs Program – “as the bank and Fintech Scotland encourage a new round of fintech collaboration.” Under the program, winning Fintechs will officially partner “with TSB to offer innovative… Read More

August 15, 2023 @ 8:48 pm By Omar Faridi  |  

In the countdown to the opening of the Asian Games, Ant Group is expanding multiple cross-border digital payment options for international travelers as the Official Prestige Partner of Asia’s largest sports event in 2023. As a native of Hangzhou, the host city of the Games… Read More

August 15, 2023 @ 5:56 pm By Omar Faridi  |  

Coinbase (NASDAQ:COIN) has announced its official entry into the Canadian market, “backed by the integration of Interac payment rails, with banking and payment partners, enabling seamless fund transfers, and the introduction of Coinbase One – a 30-day trial offering zero trading fees, enhanced staking rewards,… Read More

August 15, 2023 @ 10:02 am By Omar Faridi  |  

Credit scoring is a statistical method employed by lenders to predict the probability an existing and/or prospective borrower or counterparty “will default on loans/credit products, or incur additional charges for repayment, also known as measuring creditworthiness,” the team at Juniper Research explains. Juniper Research also… Read More

August 15, 2023 @ 6:45 am By Omar Faridi  |  

Inter&Co, Inc (Inter), (NASDAQ: INTR), the Super App which provides financial and digital commerce services to more than 28 million customers, recently reported financial results for its second quarter ended June 30, 2023. João Vitor Menin, CEO of Inter&Co said: “This quarter marks an inflection… Read More

August 14, 2023 @ 11:44 pm By Omar Faridi  |  

Following a review of fund managers’ value assessments, the UK Financial Conduct Authority (FCA) has found “that while many firms have better practices in place, some still require improvement.” In 2017, the FCA published its Asset Management Market Study, which “found evidence of weak demand-side… Read More

August 14, 2023 @ 8:49 pm By Omar Faridi  |  

The Saudi Central Bank (SAMA) licensed “Loan” to provide consumer microfinance solutions through financial technology. With Loan, there are now six authorized companies “offering consumer microfinance solutions in Saudi Arabia.” This decision reflects SAMA‘s endeavor “to support the finance sector, increase efficiency of financial transactions,… Read More

August 14, 2023 @ 8:43 pm By Omar Faridi  |  

Maybank and Credit Guarantee Corporation Berhad (CGC) announced the launch of the first-of-its-kind direct Application Programming Interface (API) platform for the SME Digital Financing. This integration effects faster CGC guarantee approval process “through real-time approvals, empowering the small and medium enterprises (SMEs) with instant access… Read More

August 14, 2023 @ 8:41 pm By Omar Faridi  |  

ID Finance Spain S.A.U. released its audited financial results for the first half of 2023. The company has provided the following operational and financial information: ID Finance Spain reported “a net income of €4.4M, following an 8% increase in its net portfolio, which hit a… Read More

August 14, 2023 @ 1:50 pm By Omar Faridi  |  

At the mid-point of 2023, Gen Z consumers (born between 1995 and 2005) increasingly find themselves with new access to credit products. The newly released Q2 2023 Quarterly Credit Industry Insights Report (CIIR) from TransUnion (NYSE: TRU) shows “that relative to the consumer population as… Read More

August 13, 2023 @ 11:37 pm By Omar Faridi  |  

Tanay Ved, Lucas Nuzzi & the Coin Metrics team have examined the various features and risks associated with DeFi lending in an extensive report. The researchers at Coin Metrics noted that “over the years, the digital asset ecosystem has spawned diverse use-cases.” Among them, decentralized… Read More