Tagged: report

June 5, 2022 @ 6:47 pm By Omar Faridi  |  

On May 23, 2022, the Consumer Financial Protection Bureau (CFPB), in partnership with the New York Attorney General, filed a proposed judgment “against a debt collection enterprise with a history of deception and harassment to pay $4 million and be permanently banned from the debt… Read More

June 5, 2022 @ 4:54 pm By Omar Faridi  |  

The team at Alloy, which specializes in identity verification APIs that make KYC/AML “effective and simple,” has looked into how DeFi has evolved into a “major” sector of crypto without running KYC or AML checks on users. The Alloy team members have looked at “Permissioned… Read More

June 5, 2022 @ 3:07 pm By Omar Faridi  |  

Bored Ape Yacht Club (BAYC) has reportedly been compromised for the third time this year, with a hacker able “to steal and sell NFTs, making away with 142 ETH, equivalent to over $250,000.” The hacker conducted a phishing attack, “whereby they shared a fake phishing… Read More

May 30, 2022 @ 7:12 pm By Omar Faridi  |  

Data from Mastercard’s (NYSE: MA) 2022 Borderless Payments Report has revealed “two in five (44%) global small and medium sized businesses (SMEs) fear they will never achieve the same revenue levels as before the pandemic, although online business and international sales offer a real lifeline.”… Read More

March 9, 2022 @ 7:13 am By Omar Faridi  |  

Blend Network recently released its first annual Predictions in Development Finance report. Set out in this report is an analysis of “the challenges and obstacles, but also the opportunities within the market,” the team at Blend Network noted in a blog psst. The development finance… Read More

December 2, 2021 @ 7:58 am By Omar Faridi  |  

Payments are faster and easier than ever before, the Chainalysis team writes in a blog post. As taps and texts continue to overtake cash and checks, they’re “increasingly digital, too,” the Chainalysis team adds while noting that thanks to the blockchain or distributed ledger tech… Read More

October 18, 2021 @ 7:34 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has issued its anticipated report on market structure, including the emergence of Meme stocks – like GameStop. Some observers said there was little new in the report as it towed the line of SEC Chairman Gary Gensler’s recent proclamations…. Read More

August 21, 2021 @ 7:51 pm By Omar Faridi  |  

The team at Astra Protocol, which aims to equip the decentralized finance (DeFi) space with a complete legal layer and unlock the future growth of the industry, notes that operating within DeFi comes with “unpredictability” as well as key opportunities. Some of the main benefits… Read More

August 9, 2021 @ 8:36 pm By Omar Faridi  |  

Carole House, Director of Cybersecurity with the White House National Security Council, recently discussed online security issues at the FinCrime Virtual Week. Blockchain security firm CipherTrace notes in a recent update that headlines such as the Colonial Pipeline Ransomware attack indicate that cybercrime is “on… Read More

August 9, 2021 @ 11:26 am By Omar Faridi  |  

In April of last year, China had started testing out the the virtual yuan, becoming one of the first world governments to issue a Central Bank Digital Currency (CBDC). CBDCs like the virtual renminbi are government-issued, blockchain or distributed ledger tech (DLT)-enabled versions of a… Read More

July 25, 2021 @ 2:04 pm By Omar Faridi  |  

Compliant crypto firms realize or know what it takes to keep their platforms safe: They have to carry out KYC checks on clients, monitor transactions for counterparty risk, and submit suspicious activity reports or SARs when they see suspicious activity, Chainalysis notes in a blog… Read More

April 4, 2021 @ 3:18 pm By Omar Faridi  |  

The team at Banking Circle, a leading financial infrastructure developer, notes that as the first quarter of 2021 comes to an end, anti-money laundering or AML measures have been “a key focus in the industry.” The company writes in a blog post that following the… Read More

January 31, 2021 @ 8:38 pm By Omar Faridi  |  

A survey performed by UK-based TransferWise, a leading online money transfer service, has provided insights on how the Coronavirus crisis has impacted consumer behavior, particularly how remittance payments are handled by individuals residing in Malaysia. The survey revealed that approximately 50% of people in Malaysia… Read More

January 30, 2021 @ 8:07 pm By Omar Faridi  |  

Banking Circle, a financial infrastructure developer, notes that only a month into the new year, and partnerships are already beginning to emerge as “a strong theme underpinning the future of the industry.” Banking Circle also confirmed that they’ve teamed up with global provider of local… Read More

January 30, 2021 @ 3:02 pm By Omar Faridi  |  

Divvy, a modern payment and expense management platform for businesses, which notably secured $165 million through its Series D funding round, making it one of only 14 Fintechs this month to raise a mega-round ($100M+ or more) in January 2021, notes that during the last… Read More

January 20, 2021 @ 12:44 am By Omar Faridi  |  

Buy Now, Pay Later (BNPL) services are being widely-adopted in Southeast Asia. BNPL service providers allow consumers to pay for products via flexible instalment plans. Major Fintechs offering BNPL options in the Southeast Asian region include Grab, GoJek, Razer, Oriente, among others. BNPL lets people… 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 5, 2020 @ 4:11 pm By Omar Faridi  |  

Blockchain analysis firm Chainalysis notes that global darknet markets have long “fascinated” the general public, beginning with the infamous Silk Road, which represented around 20% of all Bitcoin (BTC) related activity during its “heyday” back in 2013. But since that time, these illicit activities account… 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

October 20, 2020 @ 10:10 pm By Omar Faridi  |  

The Wealthtech and cryptocurrency-focused Fintech sectors recently attracted substantial investments through several investment rounds. During the past week, there were around 28 funding rounds in the Fintech space. Companies working in several key areas managed to secure funding including those focused on cryptocurrency, Wealthtech, payment,… Read More