Capital Investments

Interac ushers in in-app and browser payments with Apple Pay and Google Pay

Interac Corp. today announced that Interac Debit for In-App and In-Browser Payments with Apple Pay™ and Google Pay™ is now widely available. Canadians already use Interac Debit on Apple Pay or Google Pay for in-store purchases at hundreds of thousands of merchants across the country.

U.S. Fintech West Creek Secures $150 Million Credit Facility From Pollen Street Capital to Expand Point-of-Sale Financing

West Creek, a U.S.-based fintech company that provides point-of-sale financing, announced on Thursday it secured a $150 million credit facility from Pollen Street Capital, bringing the company's total credit facility capacity to $250 million. Founded in 2014, West Creek claims it focuses on using big data

U.S. Fintech West Creek Secures $150 Million Credit Facility From Pollen Street Capital to Expand Point-of-Sale Financing

West Creek, a U.S.-based fintech company that provides point-of-sale financing, announced on Thursday it secured a $150 million credit facility from Pollen Street Capital, bringing the company's total credit facility capacity to $250 million. Founded in 2014, West Creek claims it focuses on using big data

How long can banks lean on C&I?

Commercial lending provided a boost for some regional banks in the third quarter, but further rate cuts and a slowing economy could challenge future growth.

Smart Bricks meet Clicks & Voice – the Walmart Way - Daily Fintech

PHYGITAL E-commerce giant Amazon is a big player in many markets. From e-commerce, cloud, delivery, entertainment, payments, smart home devices, and physical stores. Retail giant Walmart, not included in the FANGs or the GAFAs, as it is a native of another tribe (physical retailers), can actually stand respectfully next to Amazon and other large non-financials …

Ripple, Coinbase Invest in Mexico’s Biggest Crypto Exchange Bitso

Ripple, Coinbase invested an undisclosed amount in the first Mexican crypto exchange to help it expand to Brazil and Argentina.

Two Ways to Quickly Elevate Your Financial Institution's Onboarding

Banks and credit unions often get bogged down by digital changes, but marketers can move faster in some areas, like onboarding communication.

There's no shortcut to innovation, FIS exec says

Community banks and credit unions are eager to innovate, but technology upgrades must be done first, says Bruce Lowthers, FIS banking solutions president.

Telegram Bombshell, Zuckerberg to Testify, Ripple Row: Hodler’s Digest, Oct 7–13

The SEC halts Telegram’s $1.7 billion token offering in a massive setback for TON, and Mark Zuckerberg is going to testify in front of Congress.

Fed eases rules on big regionals; Deutsche denies it has Trump tax returns

Large banks will have less onerous capital rules and stress test requirements; the president’s main lender said it has other returns, but not the president’s.

Three Existing Shareholders Add Capital to Bloomio in Advance of Series A

Swiss crowdfunding and tokenization platform Bloomio AG has received a CHF 800,000 capital injection from three existing shareholders according to a company release. The blockchain-based marketplace called that added capital a big step forward as the company plans for a forthcoming Series A funding round.

Fed finishes overhaul of post-crisis supervisory regime

The central bank finalized a host of regulatory-relief changes mostly benefiting midsize and regional banks that hew closely to proposals issued in April and last fall.

LendingClub Launches Digital Loan Transaction Platform 'LCX,' Provides Improved Liquidity & Same Day Settlement

LendingClub (NYSE: LC), the leading marketplace for loans in the US, has launched a 'first of its kind' online marketplace designed to connect institutional investors to loans called LCX. The new marketplace provides same-day settlement of fully funded loans. LendingClub said in a release that

SEC's Concept Release Comment Period Closes. So What Say You on Regulatory Harmonization & Access to Capital?

The Securities and Exchange Commission (SEC) officially closed comments on its concept release regarding regulatory harmonization of securities offerings exemptions on September 24, 2019. But as in past cases, comments have continued to trickle in and we would not be surprised if more follow. That

Financial institutions discover digital growth, security with private clouds

According to International Data Corp, banks are expected to spend more than $53 billion on cloud services by 2023. The cloud is a business asset no modern bank

WeWork problems highlight risks coworking poses for banks

The firm’s financial woes are mostly a result of overspending, but they have raised questions about how banks’ commercial real estate portfolios might fare if the coworking sector implodes.

Bitcoin Traders Turn Bearish on 'Anemic' Sub-$8000 Price Drop

The bitcoin price fell below $8,000 during a low volume weekend as traders foresee a steeper drop to lower support levels.

Fintech Dave hits $1bn valuation after two years

Dave has four million users on its financial management app.

Gulf Capital, a ‘de novo’ bank, to launch without legacy tech

Gulf Capital Bank, Houston's first new bank to launch since 2009, will open its doors by early next year. It confirmed on Monday that it received conditional

Does Amazon-Google-Microsoft hold on the cloud pose a risk to banking?

With financial institutions relying more and more on cloud computing services, Washington is increasingly focused on the concentration of industry data in the big three technology giants.

High anxiety over narrowing margins

Bankers are expected to field numerous questions on third-quarter earnings calls about the threat of shrinking loan yields, stubbornly high deposit prices and what they're going to do about them.

Challenger banks in India: who’s who and what’s their tech

A comprehensive list of Indian challenger banks and banking services, and the tech they are using.

Why Analyst Says Bitcoin Price Likely to Recover to $9,000 After 23% Pullback

The bitcoin price (BTC) fell by more than 23 percent against the U.S. dollar, triggering a fierce correction in the cryptocurrency market.

Animoca to Develop MotoGP Blockchain Game With Crypto Collectibles - CoinDesk

ASX-listed games maker Animoca Brands is to develop a MotoGP-branded race management game with digital collectibles.

Data Privacy Startup StrongSalt Raises $3 Million for Encrypted API Service - CoinDesk

StrongSalt aims to bring standardized encryption techniques to the blockchain and will showcase its API product later this year.

Start-up to democritise Mexican banking raises largest funding round in country’s history

The investment is $7.5 million in equity and $50 million in debt.

What's grounding so many de novos?

Regulators may be willing to grant new charters, but economic uncertainties, capital hurdles and inexperience have led the organizers of numerous bank startups to give up in the last few years.

CICC Ties Up With Tencent in $70 Million Fintech Venture - Caixin Global

CICC Ties Up With Tencent in $70 Million Fintech Venture

Could financial firms do more in response to data breaches?

Democratic lawmakers and consumer advocates say the remedies offered to consumers by firms like Capital One and Equifax are too difficult to access and not particularly helpful.

Goldman shows bright future for banks, if not for bankers

(Bloomberg Opinion) -- The continuing debate about the future of banking since the 2008 financial crisis has intensified recently on reports that banks are

Goldman shows bright future for banks, if not for bankers

(Bloomberg Opinion) -- The continuing debate about the future of banking since the 2008 financial crisis has intensified recently on reports that banks are

North Korea plans its own bitcoin

Russia, Venezuela and Iran have explored similar projects.

BancPlus to enter Alabama, Louisiana markets with latest acquisition

The company will gain 34 branches and $1.2 billion in assets when it buys State Capital in Mississippi.

Bitcoin Fails to Regain $10K as Market Dominance Hits 6-Week Low

Overall losses not as bad as expected for altcoins as Bitcoin price dives under $10,000 once again.

These iAngels Are Bringing New Heavyweights Into Bitcoin Investing - CoinDesk

The three women behind Israeli investment platform iAngels are promoting crypto adoption by connecting with traditional investors.

Digital Reasoning reveals $40m funding round and Standard Chartered partnership

Digital Reasoning uses AI to understand human communication

Banks have upper hand in tech but no room to be complacent

The largest financial institutions have a golden opportunity to capture more market share because of the under-40 crowd’s decided preference for digital banking, J.D. Power says. Yet so do nonbanks.

CoinMarketCap Announces Its First-Ever Large Scale Conference with an Exciting Speakers Line-Up - and It's Free to Attend » The Merkle Hash

NEW YORK, SEPTEMBER 12, 2019 – CoinMarketCap, the world’s most popular site for cryptocurrency information, has announced its first look at speakers and supporting media headlining its first-ever large scale conference, named The Capital, taking place in Singapore on November 12-13 this year. For this first conference, the dual themes that they have earmarked are “adoption” and “liquidity”, two of the most relevant topics for the company. To exemplify these themes, CoinMarketCap has invited a range of speakers who will expand the range of discussion into related industries, focusing on adoption. For example, Aliza Knox, MD of Cloudflare APAC, and

Senate Democrats call out Capital One over breach response

The lawmakers, including Sens. Sherrod Brown and Elizabeth Warren, sent the bank a letter focusing on customers' difficulty enrolling in credit monitoring and identity protection services.

FHFA's Calabria details next steps on GSE reform

The regulator for Fannie Mae and Freddie Mac suggested that a finalized capital framework for the two mortgage giants could be published by the end of the year.

Indian neobank Yelo raises seed round

The start-up is personalised to gig economy workers.

Accion Venture Lab closes $33 million to invest in inclusive fintech startups in emerging markets including MENA & Pakistan

Share21TweetShareWhatsAppEmail21 SharesAccion, a global nonprofit focused on financial inclusion announced last week that its seed-stage investment initiative Accion Venture Lab has closed $33 million in fresh capital; with $23 million of it coming for Accion Venture Lab’s new fund from third-party investors and an additional $10 million investment from Accion itself. Launched in 2012 with […]

Dapp.com Closes $1 Million Investment Round Led by Hashed - CoinDesk

Dapp.com provides data analytics for decentralized app products built on blockchains such as ethereum, EOS, tron, steem, and others.

Summer surge in bank M&A feels like distant memory

Falling stock prices and concerns about the health of the economy are depressing deal activity.

Accion Venture Lab adds $33m to new fintech fund

The lab's total capital under management is now $42 million.

Kabbage Acquires Radius, Adding Insights into Millions of SMEs to its Platform - Finovate

Small business financing company Kabbage has made a purchase that will help it get to know the world of SMEs all the better. In a deal announced today, Kabbage will acquire small business intelligence firm, and fellow Finovate alum, Radius, adding insights from more than 20 million U.S. small businesses to its platform. Terms of Read more...

Accion Venture Lab Announces New Fund For Inclusive Fintech Startups

Accion Venture Lab, a seed-stage investment initiative of global nonprofit Accion, announced on Wednesday the launch of its new fund, Quadruples Capital, that is for inclusive fintech startups.  The organization reported that it is adding $33 million to its initial capital pool, with the launch

Bitcoin Price Breaks $10,000, Supercharged by China's Soaring Forex Appetite – CCN Markets

Bitcoin gained momentum to continue a recent winning streak as the Chinese Yuan dropped to its weakest level in more than a decade.

RMI AlphaCode splashes cash on three fintechs

AlphaCode, Rand Merchant Investment Holdings (RMI)’s incubation, acceleration and investment vehicle has awarded R23 million supplier development loans to three fintech startups, Zande Africa, Bright On Capital and Livestock Wealth.

IPO-Bound Credit Sesame Raises $43M | PYMNTS.com

As household debt in the U.S. climbs, financial health startup Credit Sesame has raised $43 million ahead of its planned IPO.

Prosecutors: Accused Capital One Hacker Also Used Victims' Servers for Cryptomining

A Seattle woman and former Amazon Web Services employee accused of stealing personal data from credit card-issuer Capital One and 30 other companies also used victim's servers to mine cryptocurrency, prosecutors in the State of Washington allege. Paige Thompson is accused of accessing victims' servers

Prompt notification would ease pain of data breaches: Survey

At the same time, consumers hold banks to tougher disclosure standards than government agencies, health care organizations and retailers, according to Experian.

OKCoin & OK Group Appoints Hong Fang as New Chairman & COO

Global digital asset exchange OKCoin, along with OK Group, announced on Friday it has appointed Hong Fang as Chairman of OKCoin and Chief Operating Officer of OK Group. According to OKCoin, Fang is a former Goldman Sachs banker, as well as an early investor in

Capital One Hacker Used Stolen Computing Power to Mine Crypto - CoinDesk

Capital One hacker Paige Thompson had been using stolen computing power to mine cryptocurrencies, a federal grand jury indictment revealed.

SME Lende Credijusto Secures $42 Million Through Series B Funding Round Led By Point72 Ventures & Goldman Sachs

Credijusto, an SME lending platform that is based in Mexico, announced on Thursday it secured $42 million through its Series B funding round, which was led by Point72 Ventures and Goldman Sachs with participation from Thomvest Ventures, Wolfson Group, Third Lake Capital and Argo Ventures,

U.S. Alternative Asset Platform Alto Attracts $5.4 Million Through Seed Funding Round Led By Jefferson River Capital

Alto, a technology platform for investors to add alternative assets to IRAs, announced on Thursday it secured $5.4 million through its latest seed round, which was led by Jefferson River Capital and Moment Ventures. This investment round comes less than six months after Alto raised

SME Lende Credijusto Secures $42 Million Through Series B Funding Round Led By Point72 Ventures & Goldman Sachs

Credijusto, an SME lending platform that is based in Mexico, announced on Thursday it secured $42 million through its Series B funding round, which was led by Point72 Ventures and Goldman Sachs with participation from Thomvest Ventures, Wolfson Group, Third Lake Capital and Argo Ventures,

Fed defends its independence; CFPB prepares to hire

Politics not considered, a spokesman said in response to Dudley’s call for the Fed to stop enabling trade war; the agency lifts a two-year hiring freeze.

Exhausted Bitcoin Cash Bulls Could Spark Crushing Dump to $200 – CCN Markets

Bitcoin Cash may be a good pick for long-term investors due to its strengthening fundamentals. However, its prospects in the short-term are poor.

Complex Credit Card Offers Baffle Consumers and Hurt Satisfaction

The arms race in credit card benefits may be at a stalemate. Some issuers are already "de-escalating" features ... but not cash-back rewards.

Deutsche Bank says it has returns requested by subpoenas

Deutsche Bank confirmed that it has tax returns requested by U.S. lawmakers seeking financial information for President Donald Trump and his family. Whose returns are those? That's still a secret.

3 Top Fintech Stocks to Buy Right Now | The Motley Fool

The recent market turbulence has led to some attractive bargains in the financial sector

Wanwu Xinxuan Lands $20M; Experian buys FinTech | PYMNTS.com

China's Wanwu Xinxuan eCommerce platform receives $20 million in funding, while Experian acquires FinTech startup to boost open data offering

Wanwu Xinxuan Lands $20M; Experian buys FinTech | PYMNTS.com

China's Wanwu Xinxuan eCommerce platform receives $20 million in funding, while Experian acquires FinTech startup to boost open data offering

Hostinger Web Host Breach Exposed Customer Data | PYMNTS.com

Passwords were reset at web hosting company Hostinger after the company's API database was hacked with about 14 million customer usernames and email addresses.

Asia Digest: Experian arm buys Australian fintech; Wanwu Xinxuan raises $20m

Experian Australia & New Zealand has announced the acquisition of Australian fintech startup Look Who's Charging to bolster its open data offering.

Bitcoin Bull John McAfee Shills Zombie ICO: 'You've Been Warned'

Bitcoin bull and IRS fugitive John McAfee is shamelessly shilling a Chinese zombie ICO, and he doesn't want to hear any lip about it.

Cardholder confusion could force issuers to simplify rewards

A J.D. Power official says supplemental benefits — many centered on travel cards — need to be pared down. His comments followed the company’s release of survey data that showed these hard-to-understand benefits were a drag on customer satisfaction.

Lendable Partners With Credit Suisse to Launch Luxembourg Fund

Kenya-based Fintech platform Lendable has reportedly teamed up with Credit Suisse to launch a new Luxembourg Fund. According to AltFi, the fund will initially provide up to £225 million of financing into the UK consumer market. The launch of the fund comes just one month after

On the Second Anniversary of the DAO: The Token Universe’s Cat Food Moment

Recently we marked the second anniversary of the SEC’s issuance of an Investigative Report finding that the DAO Tokens were securities.   While this killed the hopes of those who had interpreted SEC silence to mean consent to the unregulated issuance of tokens, it still

Hitting This Key Area Will Trigger a Quick Bitcoin Price Boom

Since August 15, in five days, the bitcoin price has increased from $9,500 to $10,700 by well over 12 percent against the U.S. dollar.

Amazon Tech Experts-Backed Blockchain CRM Network Raises $3.5M

Cere Network, San Francisco-based blockchain CRM startup raised $3.5 million in a seed round participated by Binance Labs.

'There will be accidents ... in the cloud,' ECB warns

A senior official at the European Central Bank warned that banks embracing external data storage and other digital technology need to face the reality that those systems are inviting targets for hackers.

Would Blockchain Better Protect User Data Than FaceApp? Experts Answer

Experts in the cryptocurrency and blockchain industries take on concerns about users' privacy violations connected with the popular FaceApp mobile application.

Capital One Acquires Robo-Adviser United Income | PYMNTS.com

The retirement-focused United Income will now give automated advice as part of Capital One, which bought the firm to expand its robo-adviser offerings.

Capital One Acquires Robo-Adviser United Income | PYMNTS.com

The retirement-focused United Income will now give automated advice as part of Capital One, which bought the firm to expand its robo-adviser offerings.

Amazon Sent Customers Wrong Order Info | PYMNTS.com

Amazon customers are saying they have received email updates and invoices about orders that belong to other people.

Venture Capital vs Private Funding

If you're currently seeking to raise capital for your business, it's worth knowing the difference be...

Capital One bulks up in robo advice with United Income buyout

United, which helps retirement-age savers find the best ways to manage their wealth, is Capital One's answer to a flurry of similar deals made by rivals.

CIB Limited awarded banking licence

CIB Limited, part of the Capital International Group, an Isle of Man headquartered company has been awarded a provisional class 1(2) banking licence. The licence is the first class 1(2) to be issued on the Isle of Man under the Alternative Banking Regime.

Scaling for the next generation with APIs in the cloud

Today’s generation of consumers expect a digital-first experience from their providers. Whether they’re shopping online, streaming content or interacting with financial institutions, anything less than on-demand is no longer acceptable. However, when considering the US, retail banking is not yet fully digital, and customers must still visit a branch to fill out paperwork when opening an account.

Scaling for the next generation with APIs on the cloud

Today’s generation of consumers expect a digital-first experience from their providers. Whether they’re shopping online, streaming content or interacting with financial institutions, anything less than on-demand is no longer acceptable. However, when considering the US, retail banking is not yet fully digital, and customers must still visit a branch to fill out paperwork when opening an account.

Was Capital One unprepared? N.Y. AG subpoenas Sacklers’ banks

Employees saw the bank’s cybersecurity unit's shortcomings; the state seeking records related to hidden profits from the family's opioid business.

ECB discovers data breach in bank newsletter

It is the second time in five years.

Unfazed by Capital One breach, KeyBank begins migration to cloud

The bank is moving a large analytics program and a massive amount of data into Google's public cloud, which its tech chief says is more efficient, secure and better able to handle spikes in demand.

The Brief: Retail investing shakeout, cutting food waste, seeding inclusive fintech, blended financing for smallholders, beyond venture capital | ImpactAlpha

The latest global trends in impact investing and social impact in new financial markets, venture capital and impact investment funds. Join now!

Capital One hacker’s other targets; yield curve inversion slaps banks

The former Amazon employee got info from 30 other entities, prosecutors say; another bad day for bank stocks, with 3% losses typical.

HMRC cracks down on crypto investors

The tax authority has requested customer data from UK exchanges.

Why SellersFunding sees an opportunity with Amazon, eBay merchants

As e-commerce merchants' needs become more complex, the ecosystem of small-scale lenders continues to expand to meet demand. On Tuesday, U.S.-based e-commerce

PayPal backs global programme to help entrepreneurs tackling financial health

PayPal has joined forces with insurance giant MetLife and VC Village Capital to launch an initiative supporting more than 100 early-stage entrepreneurs around the world building tech-based financial health products and services.

Racial divide exposed in lending to the smallest of small businesses

Black and Hispanic owners of one-person businesses are more likely to be discouraged from applying for financing, and they’re less likely to receive financing when they do apply for it, than their white counterparts, according to a new report from the New York Fed.

Bitcoin's Price Looks Set for a Drop to $10K - CoinDesk

Bitcoin is looking south, having retraced more than 50 percent of the $3,000 rally seen in the 10 days to Aug. 6.

Scalable Capital attracts further €25m growth funding

Blackrock has increased its initial investment.

China's Fintech Revolution—The Ledger

China leads when it comes to financial tech, or fintech, and the central bank's plans to release a digital currency of its own put it further ahead still.

Turn to commercial banks for treasury management innovation

Commercial banks are taking up a starring role.

Crypto Code Commits Remain Near All-Time Highs, Despite Price Declines - CoinDesk

A new report from Electric Capital identifies which blockchains are attracting developer activity.

U.S. IPO Week Ahead: A Kansas Bank And A Chinese Fintech Wrap Up The Summer IPO Market

A Kansas bank and a Chinese fintech are scheduled for the week ahead, the last crop of offerings before the IPO market's annual August break. CrossFirst Banksha

Digital Yuan: Weapon in US Trade War or Attempt to Manipulate Bitcoin?

U.S.-China trade war escalates, China is stepping up national crypto development, anonymous PBoC source says crypto “brings both risks and opportunities.”

What to make of banks’ growing exposure to leveraged loans

Fresh data from the Fed, FDIC and Bank of England shows that, directly or indirectly, banks are taking on more leveraged loans. But whether this puts their loan and securities portfolios at risk remains open for debate.

BMO Chief Investment Strategist: Too Soon to Call Bitcoin a Safe Haven

An investment banking strategist for BMO says Bitcoin has shown a lot of volatility, and it is too soon to call it a safe haven.

Warren presses Capital One CEO for more details about breach

The Massachusetts senator asked Richard Fairbank in a letter why the bank didn’t detect the breach for nearly four months and how it plans to prevent future cyber intrusions.

OurCrowd Boosts Presence in Latin America with SYNC

OurCrowd, a digital investing platform, is expanding its presence in the Latin America market. According to a release, OurCrowd will host an invite-only event in Sao Paulo later this fall. Labeled 'OurCrowd Sync' the crowdfunding platform has joined up with Rodrigo Monteiro and the team

Lending Club Unveils Select Plus for Sophisticated Investors - Finovate

Months after LendingClub announced that it was closing its small business lending division, the online P2P credit marketplace is back in the fintech headlines with the launch of the Select Plus Platform. The solution enables sophisticated investors to participate in the financing of borrowers “who fall outside current criteria” of bank lenders. Select Plus provides Read more...

LendingClub Q2 Results, Revenue Rises, Loss Declines. Launches New 'Select Plus Platform' for Sophisticated Credit Investors

LendingClub (NYSE: LC), an online lending platform for both borrowers and investors, has posted second-quarter results. While still generating a loss, LendingClub said it was on track to be net income profitable (Adjusted) by Q3. The Fintech lender reports the following metrics: Record loan originations

LendingClub Q2 Results, Revenue Rises, Loss Declines. Launches New 'Select Plus Platform' for Sophisticated Credit Investors

LendingClub (NYSE: LC), an online lending platform for both borrowers and investors, has posted second-quarter results. While still generating a loss, LendingClub said it was on track to be net income profitable (Adjusted) by Q3. The Fintech lender reports the following metrics: Record loan originations

Crypto Derivatives Platform FTX Secures $8M In Seed Funding Round

FTX has secured $8 million in its seed round, with blockchain-focused venture capital fund Proof of Capital and blockchain firm Consensus Lab among major investors.

UK’s Tax Authority Requests User Data From Crypto Exchanges: Report

UK tax authority has reportedly asked digital currency exchanges to provide it with customers’ names and transactions data to locate tax evasion.

Federal Reserve reveals real-time payment system plans

FedNow will be available to all US-based banks by 2024.

Questions Being Raised About Viability Of The Cloud For FinServ | PYMNTS.com

The woman responsible for the Capital One hack reportedly pulled it off through a vulnerability in the cloud. Last week Capital One revealed that on July 19 it discovered that there was unauthorized access by an outside individual, adding that it immediately fixed the configuration vulnerability that was exploited and immediately notified federal law enforcement. […]

The Feds Are Coming For Amazon but Not for the Reason You Think

Amazon is now being examined by the Federal Reserve, which seeks to make certain that the company's cloud services are safe from hacking.

Capital One data breach inquiry launched by Republicans

The US House of Representatives Committee on Oversight and Reform has requested a briefing with Capital One over the data breach that left 106 million credit card holders and applicants in the US and Canada at risk of their personal information being stolen.

As payments giants combine, Square narrows focus

Mega-mergers in the payments sector appear to be leading Square to narrow its business focus and boost investment in its seller and Cash App ecosystems. Among

As payments giants combine, Square narrows focus

Mega-mergers in the payments sector appear to be leading Square to narrow its business focus and boost investment in its seller and Cash App ecosystems. Among

Capital One Data Breach Sparks GOP Probe | PYMNTS.com

House Committee on Oversight and Reform Republicans have started a probe into Capital One and Amazon over a massive data breach that affected millions, according to a report by the Financial Times.  The committee sent out two letters and asked for a “staff-level briefing” with both companies in the next two weeks regarding the breach. […]

UniCredit Says None Of Its Data Was Compromised In Capital One Breach | PYMNTS.com

UniCredit, in a memo to its staff on Thursday, said that an internal investigation showed no evidence that a recent data breach at Capital One involved any of its own data, according to a report by Reuters. Authorities investigating the case are trying to find out if the alleged hacker, Paige Thompson, hacked any other […]

Republican lawmakers target Amazon, Capital One over data breach

Three GOP members of Congress have sent letters to the companies requesting staff-level briefings on the breach in which an ex-employee of Amazon Web Services illegally accessed data of more than 100 million people who have or applied for Capital One credit cards.

Capital One hacker may've hit UniCredit; Equifax offer overwhelmed

The FBI is looking into whether Italy’s largest bank was also hacked; about 4.5 million people have already inquired about getting a cash settlement with the credit bureau.

InsurTech is growing up, and cyber crime is too - Daily Fintech

Image TLDR   Don’t look now but the self-declared insurance disruptive force called InsurTech is maturing.  There, I’ve said it. And cyber crime issues need to become mainstream discussions.  There, I’ve said that, too.   Here are some compelling InsurTech maturity indicators seen in the media this week: Publication of articles discussing more mainstream concerns for …

Infoblox, Other Companies Referenced In Capital One Hacker’s Communications  | PYMNTS.com

Krebs On Security is reporting that the alleged Capital One hacker may have also targeted and stolen data from other corporations. The website named Paige Thompson, nicknamed Erratic, as the alleged hacker and detailed how she would go on messaging service Slack in a group with other supposed hackers. Krebs on Security joined the group […]

Infoblox, Other Companies Referenced In Capital One Hacker’s Communications  | PYMNTS.com

Krebs On Security is reporting that the alleged Capital One hacker may have also targeted and stolen data from other corporations. The website named Paige Thompson, nicknamed Erratic, as the alleged hacker and detailed how she would go on messaging service Slack in a group with other supposed hackers. Krebs on Security joined the group […]

Fundstrat Co-Founder Tom Lee: US Fed Rate Cuts Are Helping Bitcoin

Fundstrat Global Advisors co-founder Tom Lee says federal rate cuts in the U.S. are beneficial to Bitcoin, which may retake $20,000 by the year’s end.

What the Next 4 Years of Ethereum Look Like - CoinDesk

Ethereum celebrated its fourth birthday yesterday. Here's what insiders had to say about the blockchain's next four.

Bambu raises $10m to grow global team

The robo-advisory start-up will use it to offer more products.

Capital One breach clouds the cloud; Libra's silver lining

The hack prompts renewed concerns about security of data held in the cloud; lawmakers acknowledge that Facebook’s proposed Libra cryptocurrency could have applications for law enforcement.

US Lawmakers Respond To Capital One Data Breach | PYMNTS.com

The Capital One data breach that affected millions and spawned an investigation by the New York attorney general as well as a class-action lawsuit, has a new set of detractors: U.S. lawmakers. The Hill is reporting that Sen. Ron Wyden of Oregon, who is the top Democrat on the Senate Committee on Finance, tweeted his displeasure […]

Capital One reveals huge data breach by hacker

More than 100 million customers’ details were compromised in the incident.

Capital One’s data breach was bad. It could’ve been worse

Though involving an eye-popping 106 million credit card applicants' information, Capital One's breach was also unusual in a number of ways, including that it was quickly caught through a responsible disclosure program run by the bank.

Former Amazon worker is accused in cloud hack of Capital One

Capital One Financial said data from about 100 million people in the U.S. was illegally accessed after prosecutors accused a Seattle woman identified by Amazon

Multicoin Leads $20 Million Round for Speed-Focused Solana Blockchain - CoinDesk

Claiming it can handle many more transactions per second than existing blockchains, Solana has raised capital to ramp up development.

Elevate Credit CEO Resigns as Q2 Revenue Misses, Guidance Cut

Elevate Credit (NYSE: ELVT) announced the exit of CEO Ken Rees today a Q2 earnings release missed on top-line numbers and the Fintech lowered guidance for Q3. Current COO Jason Harvison was selected to be interim CEO as the firm seeks a full-time replacement. Rees

US Investment Firm Launches a Hedge Fund With Holdings in Coinbase, Bakkt - CoinDesk

The NYCQ Fund is a tokenized venture fund with holdings in Coinbase, Bakkt, Nomics, and Tagomi.

Pa. AG, Bankrupt Fintech Firm Settle Payday Lending Suit - Law360

A financial technology firm that defended itself from lawsuits behind the sovereign immunity of Native American tribal affiliates has reached a multimillion-dollar settlement with the Pennsylvania Attorney General’s Office over allegedly illegal payday loans, the state announced Wednesday.

Pantera Capital CEO Believes Bitcoin Could Reach $356,000 in a Couple Years

Pantera Capital founder Dan Morehead says Bitcoin could likely reach $42,000 by the end of 2019 and even $356,000 by 2022 on the Unchained podcast.

Pa. AG And Bankrupt Fintech Firm Settle Payday Lending Suit - Law360

A financial technology firm that defended itself from lawsuits behind the sovereign immunity of Native American tribal affiliates has reached a multimillion-dollar settlement with the Pennsylvania Attorney General’s Office over allegedly illegal payday loans, the state announced Wednesday.

WesBanco finds toehold for further expansion in dynamic D.C. market

A company that operates mostly in rural markets is finally making a push into the thriving mid-Atlantic markets of Washington and Baltimore with its deal for Old Line Bancshares.

Scalable Capital to integrate Futurae’s authentication suite to bolster security

Europe’s largest robo-advisor Scalable Capital and authentication innovator Futurae have announced a partnership to integrate Futurae’s multi-factor authentication portfolio with Scalable Capital’s investment platform.

MoneyLion wrangles $160M to propel the future of fintech | PitchBook

Financial management platform provider MoneyLion has raised a $100 million Series C coupled with $60 million in previously unannounced funding.

MoneyLion roars with $160m funding

The company will have raised over $200 million in equity financing.

WATCH: Fintech startup Money View is targeting a new generation of loan seekers to scale its business

In a conversation with YourStory, Puneet Agarwal, Co-founder, MoneyView, talks about how to scale a business and why the fintech startup wants to focus on small-town customers who do not have access to formal credit.

Small bank sees big opportunity for middle-market lending in San Diego

Several megabanks dominate the market, but First Choice is seeking to expand there by catering to its ready supply of midsize businesses. It's not the only one.

LendingClub Continues Innovating with Levered Certificates backed by Marketplace Loans

LendingClub (NYSE: LC) has issued its 'next-generation certificates,' called 'Levered Certificates.' These certificates are backed by approximately $100 million of loans originated on the LendingClub platform. According to a release, LendingClub has structured the offerings to consist of two securities, one equity certificate, and one

A regional bank chief's case for the long view

Weighing in on interest rate and other uncertainties facing all banks, Citizens Financial CEO Bruce Van Saun emphasized investments in point of sale, digital banking and other initiatives meant to enhance revenue down the road.

Are Fintech Stocks Overpriced?

Fintech companies, the digital conduits that sit between banks, businesses, and consumers, continue to outpace traditional banking names.

Sluggish loan growth hurts profits at Capital One

The McLean, Va.-based credit card issuer reported expense growth that rose faster than net interest income during the second quarter.

Near raises $100m for new platform offering

The investment comes from PE firm, Greater Pacific Capital (GPC).

CSA, Canada's Securities Administrator, May Regulate Crypto Exchanges

In keeping with its Business Plan 2019-2022, the Canadian Securities Administrators (CSA) may, 'adapt the current regulatory framework to address the unique challenges brought by crypto-assets that fall under the CSA jurisdiction.' At present, 'There are currently no platforms facilitating...trading of crypto-assets that are regulated as

SumUp enhances payments for SMEs with €330m funding

Following the acquisitions of Debitoor and Shoplo.

Set Protocol Launches Ethereum Trading Strategy Bots - CoinDesk

The ETH 20 Day Moving Average Set acts as a "tokenized trading bot," said Felix Feng, Set Protocol CEO.

U.S. Farming Has A Banking Problem | PYMNTS.com

The latest jobs figures propel the lengthy period of corporate optimism in the U.S. today, with hiring stronger than expected in June. While concerns over a possible upcoming economic recession are beginning to seep into the corporate world, and while smaller businesses are struggling to find adequate talent to grow, overall, some economists welcomed the […]

How Banks and Credit Unions Piggyback Marketing on Amazon Prime Day

Ecommerce's quasi-holiday, now bigger than just Amazon, brings out offers of extra banking rewards. Smaller institutions like the tie-in.

5 Pivotal Retail Banking Technology Trends for 2020 and Beyond

Insights from experts on open banking, digital assistants, AI-driven personalization, 'always-on' banking, and employee skills.

OnDeck Canada Announces Small Business Partnership With Coast Capital Savings

OnDeck Canada announced last week it has formed a new partnership with Canadian credit union, Coast Capital Savings, to accelerate online lending to Coast Capital small business members. According to OnDeck Canada, Coast Capital Savings small business members may now apply for term loan financing

5 Household Brands Actually Innovating with Blockchain

While Facebook has stolen the show with news of Libra and its cadre of notable brand partners, the community also values the many other household brands that have pioneered with blockchain. Just a few short years ago, distributed-ledger technology was the domain of a small

SolarisBank names new CTO/CFO

solarisBank, the technology company with a banking licence, is adding internationally experienced banking and tech experts to its Management Board and leadership team by bringing in Thom Rasser as new CFO and Hima Mandali as new CTO.

Amazon, Deloitte, Fidelity Partner With IDEO CoLab on Blockchain Accelerator - CoinDesk

The new blockchain accelerator is aiming to boost 12 promising startups this year.

Trump says Deutsche Bank, now 'maligned,' wanted his business

President Trump defended troubled Deutsche Bank on Thursday and said the German financial institution wanted his business, which is now the subject of investigations by congressional Democrats.

MDOTM appoints advisory board

MDOTM, the fintech startup that develops AI-driven investment strategies for institutional investors (Banks, Family Offices, Wealth and Asset Management companies), launches its Advisory Board and announces its members: Federico Ghizzoni, Chairman Rothschild Italy and former CEO Unicredit; Alida Carcano, CEO Valeur Asset Management; Marino Valensise, Head of the Multi Asset Group and Chairman of the Strategic Policy Group at Barings; Fabio Troiani, Co-founder and CEO of Bip; Michele Padovani, Cherry Bay Capital Executive Director and Former Director of Innovation Strategy at EY.

Bitcoin ‘Single Best Hedge’ Against Traditional Financial System, Says VC

Chamath Palihapitiya, CEO of VC firm Social Capital, argues bitcoin is the single best hedge against the traditional financial system.

Inside Capital One's efforts to build a personality for digital assistant Eno | Bank Innovation | Bank Innovation

Capital One is determined to turn its digital assistant Eno into an affable, personal finance watchdog to build loyalty between the brand and its customers. Two

Securities and Exchange Commission Issues Statement on Custody of Digital Assets

The Securities and Exchange Commission (SEC), Division of Trading and Markets, has joined with the Financial Industry Regulatory Authority (FINRA) in issuing a statement regarding the custody of digital assets and broker-dealers. Custody of digital assets is a pressing concern for industry participants. Similar to

BaaS Provider Mbanq Announces Acquisition of Mobile Banking Platform AgilityFour

Mbanq, a U.S.-based digital core and Banking as a Service (BaaS) provider, announced on Monday it has acquired online and mobile banking platform AgilityFour from fintech investor Park Capital. According to Mbanq, AgilityFour provides technology that integrates next-generation web and mobile banking solutions into a

UK fintechs partner for card processing plan

Fintech finance specialist, Capital on Tap, has partnered with accounting software providers Receipt Bank to offer its customers the new Receipt Bank Card.

Funding Circle Completes Fourth Securitization of Funding

Online lending platform Funding Circle announced last week it completed its fourth securitization of funding. According to Funding Circle, the £232 million transaction is considered the largest ever securitization facilitated through its platform. 'The transaction was rated by two rating agencies, and its senior tranche was

Venture Capitalist Gushes Over Tesla, Says Elon Musk 'Walks on Water'

Elon Musk may not have many friends on Wall Street, but one Canadian-based venture capitalist is willing to go to bat for the Tesla CEO.

Nepali Startup Khalti Wins United Nations Fintech Innovation Fund

Khalti, a homegrown financial technology startup in Nepal, has won Fintech Innovation Fund from the United Nations. The fund was jointly launched by the United Nations Capital Development Fund (UNCDF)...

Core-banking crossroads, leaner Capital One, defending CECL: Top stories of the week

Questioning whether core-banking technology is nearing a 'big shake-up'; Capital One keeps closing branches, even as rivals open them; FASB chair defends CECL, saying 'the benefits justify the cost'; and more from this week's most-read stories.

Facebook Teams With India VCs For SMBs | PYMNTS.com

Facebook is collaborating with venture capitalists in India to support small businesses in the country, LiveMint reported on Wednesday (July 3). Facebook announced partnerships with an array of venture capital funds as part of its VC Brand Incubator initiative, which is reportedly the first in a series of programs the social media and technology conglomerate […]

Customers’ satisfaction with mobile apps is slipping, J.D. Power says

Huntington, Capital One and Citi are tops with consumers, but overall satisfaction scores have declined as users have been overwhelmed by the constant rollout of new features.

Kabbage Secures $200 Million Credit Facility - Finovate

To help support its rapid growth, online SME lender Kabbage has closed a $200 million revolving credit facility. The financing comes courtesy of an unnamed subsidiary of a life insurance firm, and was managed and administered by 20 Gates Management and Atalaya Capital Management. The funding adds to the $700 million securitization Kabbage announced earlier Read more...

Capital One keeps closing branches, even as rivals open them

Other banks say they need to add branches to attract more deposits, but Capital One is sticking to its strategy of aggressively closing them and gathering the bulk of new deposits online.

Capital One's commercial cards strategy zeros in on real-time capabilities | Bank Innovation | Bank Innovation

Capital One is contemplating how it can use data management technology, the cloud, APIs and artificial intelligence to meet the needs of middle-market

Funding Circle Partners With Aviva Finans AB to Pledge €50 Million Towards Funding Loans For German & Dutch Small Businesses

Online lending platform Funding Circle announced last week it has partnered with Aviva Finans AB to pledge €50 million towards funding loans for German and Dutch small businesses. According to Funding Circle, the investment agreement facilitates the initial €50 million in small business loans over

LendingClub Issues More Than $2 Billion in CLUB Certificates

Online marketplace lending platform LendingClub (NYSE: LC) announced on Monday it has issued over $2 Billion in CLUB Certificates since the program's launch less than a year and a half ago. LendingClub reported that it took a year for the lender to issue its first

Stress test results, BNY Mellon's digital play, bank reputations: Top stories of the week

Banks clear both rounds of stress tests (though two of them needed a do-over); BNY Mellon goes all-in on digital; bank industry struggles to stop slide in latest reputation survey; and more from this week's most-read stories.

Regions Bank appoints Amala Duggirala head, operations and tech

Regions Bank today announced executive leadership appointments that reflect the company’s commitment to developing high-performing executives and leveraging cross-functional expertise to strengthen its focus on continuous improvement in every area of the bank.

Banks clear CCAR stress test — though JPMorgan Chase, Capital One barely

In a year where most of the 18 institutions taking the second round of the Federal Reserve's stress tests showed improvements over last year, JPMorgan Chase and Capital One were both forced to resubmit their capital plans in order to meet the central bank's minimum thresholds.

Big funds look to bypass banks; JPM looks to invest in bank tech company

Several large asset managers plan to meet directly with corporate clients to make loans; 10x Future Technologies promises faster and cheaper banking services.

Capital One acquires BlueTarp in appeal to business clients | Bank Innovation | Bank Innovation

Banks have focused much of their innovation efforts on retail in recent years, with corporate banking services taking a backseat. As banks try to upgrade their

France: First Tokenized Real Estate Transaction Completed by Equisafe

Equisafe has completed the very first real estate transaction facilitated by blockchain in France, according to a report. Equisafe is described as a 'neo investment bank' for digital security issuance. Equisafe can provide a variety of services including security token issuance and a secondary market

Multicoin, Intel Capital Invest $3.5 Million in Startup Demystifying Blockchain Data - CoinDesk

Multicoin Capital and Intel Capital have led a $3.6 million seed round for blockchain API startup, dfuse.

AI imaging platform Ocrolus closes $24m funding round

The document analysis solution combines machine processes with human intelligence.

Open hits $50m funding for SME banking

The Indian fintech will use the funds to scale up the team.

Fintech MX gets $100 million in funding to expand operations

The fast-growing data company, which says its mission is to help banks be better consumer advocates, will use its cash infusion for hiring, software development and new partnerships.

India Neobank Platform Open Raises $30 Million Through Series B Funding Round Led By Tiger Global

Open, an India-based neobank platform, announced on Tuesday it secured $30 million through its Series B funding round, which was led by Tiger Global with participation from Tanglin Venture Partners Advisors and existing investors 3one4 Capital, Speedinvest,  BetterCapital AngelList Syndicate. Founded in 2016, Open claims to

Funding Circle Collaborates With Merseyside Pension Fund to Launch UK Economic Impact Fund For British Small Businesses

Online lending platform Funding Circle announced on Monday it has teamed up with Merseyside Pension Fund to launch UK Economic Impact Fund for British small businesses. According to the duo, the UK Economic Impact Fund will give institutional investors including pension funds, insurance companies and local

HSCM Bermuda, White Mountains latest to invest in auto-focused insurtech Noblr - Reinsurance News

HSCM Bermuda Management Company, an insurance-linked securities (ILS), reinsurance and transportation investment manager, has in collaboration with White

How ACH Business Payments Pave The Way For US Open Banking | PYMNTS.com

In B2B payments, corporates’ continued use of paper checks confounds FinTech firms working to give businesses more affordable, faster and more efficient payment options. Yet, for many business payers, the reason for using checks can be quite straightforward: It’s simply the way payments have always been made. However, new small businesses (SMBs) being launched by […]

F|T: The FinTech Times - Facebook's new cryptocurrency | BetaKit

Welcome to the FinTech Times, a weekly newsletter covering the biggest FinTech news from around the globe.

Capital One to acquire BlueTarp Financial

Capital One announced today the entry into a definitive agreement to acquire BlueTarp Financial, a leading business-to-business trade credit financing company headquartered in Portland, Maine.

Capital One Acquires Trade Credit Firm BlueTarp | PYMNTS.com

Capital One Financial Corporation announced Friday (June 21) that it has reached an agreement to acquire purchase-to-payment and credit management company BlueTarp. In a press release, Capital One pointed to augmented B2B finance capabilities as a result of the takeover, particularly for small and medium-sized businesses (SMBs). BlueTarp targets SMBs with accounts receivable management, cash […]

Banks sail through year's first round of stress tests

A new set of tougher scenarios did little to keep large banks from passing the most recent stress tests mandated by the Dodd-Frank Act.

LendingCrowd appoints chief risk and compliance officer

LendingCrowd, Scotland’s only fintech lending platform, has appointed Robbie McKenzie to the newly created post of General Counsel and Chief Risk & Compliance Officer.

Facebook faces blowback; Big changes expected at Deutsche Bank

Digital currency plans spark concerns from global financial regulators and U.S. legislators; departures continue as two top dealmakers seem ready to leave.

Bitcoin Price Trades Flat on Facebook Libra Blockchain Launch - CoinDesk

Bitcoin is struggling to gather upside traction following Facebook's official announcement of its Libra cryptocurrency project.

This bank is ditching fees amid the rise of cheap checking accounts from fintech upstarts

Customer penalties are a significant source of revenue for the financial industry: The ten biggest banks collected more than $11 billion in overdraft fees in 2017, according to the FDIC.

What the rise and fall of Basis Stablecoin tells us about the future of corporate Stablecoins such as Facebook GlobalCoin

TLDR The brief history of the Basis Stablecoin is that it was founded in Brooklyn in August 2017, announced a $133m round from top tier investors 8 months later in April 2018 and then shut their do…

| PYMNTS.com

NAB Ventures celebrates first exit as Wave Financial moves to H&R Block

Wave Financial Inc. (Wave), the accounting, invoicing and receipt-tracking software company is set to be acquired in an AU$583 million deal by accounting and tax-prep firm H&R Block.

Jack Dorsey's Square Crypto Is for Real, Revealing First New Hire

Square Crypto announced they have made their first new hire, Google alum Steve Lee who has been "working to improve bitcoin."

New tech, fee wars drive disruption in asset management

Fee pressure and improvements in data and analytics are among the leading issues the industry faces today, executives say.

H&R Block acquires Wave Financial for $398m

It follows Wave's recent acquisition of Every.

Commercial banks are joining the API revolution

Ultimately, the power of APIs is not in the technology but in the vision behind that technology.

First Tennessee, Capital Bank to be rebranded as First Horizon

The Memphis, Tenn., company said a common corporate identity for all its units made sense given a recent acquisition and its growth ambitions.

Sparrow Makes Trading Options Simple and Secure for Everyone

TweetFacebookLinkedInSINGAPORE, 10 June 2019 – Sparrow, the Singapore-based options trading platform has launched its revolutionary platform which empowers institutions and individuals to trade options that are settled by smart contract. Sparrow offers a simple and secure way for traders to control risk in the volatile digital asset market and monetize their assets. With its full-featured and highly-liquid options trading platform, Sparrow aims to bring professional trading tools to everyone. Users can trade customized European options with no counterparty risk and instantly convert over 25 trading pairs at zero cost with Sparrow’s ConvertNOW Facility. Kenneth Yeo, CEO of Sparrow said “We

Synapse receives $33m for back-end fintech

The San Francisco-based start-up expects integrations with Visa and MasterCard.

Synapse receives $33m for back-end fintech

The San Francisco-based start-up expects integrations with Visa and MasterCard.

DFG - DeFi Global: Deep Ploughing in Fintech, Leading Future DeFi-oriented Financial Development

BEIJING, CHINA / ACCESSWIRE / June 10, 2019 / Blockchain finance shows a positive improvement in the traditional finance pattern. Financial institutions are connected by data flows and capital flows. All acts in financial ecology are performed through capital flows and reflected in flow trajectories

Podcast 202: Giles Andrews, Fintech Pioneer - Lend Academy

Before there was such a thing as fintech, before peer to peer lending was invented, a group of young executives had the crazy idea to start an eBay for money in the UK. Originally named Rialto (a bridge linking two market squares in Venice) the company that would become Zopa needed to raise some money …

ConsenSys Capital Co-Founder Departs to Bring Wall Street Money to Ethereum - CoinDesk

Andrew Keys is moving to DARMA Capital, where he intends to help investors generate returns on their ethereum and bitcoin holdings.

JPMorgan revives forced arbitration for credit card holders

JPMorgan Chase, the biggest U.S. credit card issuer, is reviving a controversial policy that forces credit card customers to use arbitration instead of court to resolve payment disputes.

Marqeta and CashFlows form European partnership

Marqeta, the leading global modern card issuing platform, announced a new partnership today with CashFlows, a consolidated business payment services provider, to provide BIN sponsorship services for its rapidly growing roster of European fintech customers.

What Banks & Credit Unions Can Learn From Netflix About Digital Support

Bank brands can learn from e-commerce stars how to build digital customer support so it eases contact center loads and increases cross-sell.

Judges Question If Fintech IP Bundle Led To Monopoly - Law360

Federal Circuit judges on Monday pressed Capital One on its contention that a patent licensing company created an illegal monopoly by bundling thousands of financial technology patents, but also asked why the bank’s antitrust claim should not proceed.

Financial Technology Partners ("FT Partners") Expands Its Senior Team Adding Former JP Morgan Global Head Of Payments And Senior FinTech Banker Mohit Agnihotri As Managing Director

SAN FRANCISCO, June 3, 2019 /PRNewswire/ -- Financial Technology Partners ("FT Partners"), the only investment bank focused exclusively on FinTech, is pleased...

Digital Banker of the Year: U.S. Bank's Ankit Bhatt

The increased mobile engagement at U.S. Bank goes back to Ankit Bhatt letting customers tell him — and, many times, show him — what needs to improve.

Gate.io Launches 1st Startup Discount Offer with Lambda

Blockchain assets exchange platform, Gate.io has released 1st Startup Discount Offer, that aims to provide its VIP users with a discount in innovative and advanced projects. Users will have a higher purchase limit with more GT holdings. Gate.io Startup will launch its first project with Lambda (LAMB) on June 3, UTC 4:00 – 6:00. Lambda is a safe, reliable and infinitely extendable decentralized storage network, whilst using data integrity and security verification as well as the operation of market-oriented storage transactions on the Lambda Chain consensus network, and provides the infinitely extensible data storage capacity for the new generation of

Frenemies: 20 Top Funded FinTechs That Work With Banks

In this article, the MEDICI team presents a detailed list of 20 FinTech firms from all over the world that have found friends in the banking business. Read it only on MEDICI.

InsurTech firm REG closes £2.4m funding round

The additional capital will support the company’s growth trajectory.

Accounting automation tool raises $7.35m

Catering all expenses and bookkeeping needs, in “virtually all industries”.

A New Standard For The Issuance Of Private Securities Is Emerging Within The Capital Markets | The Fintech Times

On May 16th 2019 a community of the London-based investors, financial intermediaries and private companies gathered in Thomson Reuters

Zero closes $20m Series A to serve 200,000-strong waitlist

Offers a combination of debit and credit card.

Can the Market Deliver the Consolidated FinTech Tool Small Businesses Need?

You'd think it would have by now, but it may before long.

Can the Market Deliver the Consolidated FinTech Tool Small Businesses Need?

For most of us, payday is a relief. For the typical small business owner, it's a nail-biter. In her latest book, " Fintech, Small Business & the American Dream ," Karen G. Mills, senior fellow at Harvard Business School, shares one entrepreneur's payday struggles. In chapter eight, Mills profiles a brewery owner who isn't sure whether she can afford to pay both her team and her vendors. Until she strings together data from dozens of apps and accounts, she doesn't know whether her business will be in the black or red that month. If you think Mills might have cherry-picked her example, consider that 63  percent of small business owners surveyed by online lender Kabbage say they're regularly stressed about cash flow. The problem is so persistent that more than half of them had even gone multiple months without paying themselves. Entrepreneurship is financially risky, to be fair. But the brewery owner's struggles -- scattered services, insufficient data and a lackluster user experience -- are ones Mills argues the market can solve. Related:  10 Expert Tips on Managing Cash Flow as a New Business Three Providers, One Platform At present, three companies seem poised to fulfill Mills' vision for small business leaders. Although none yet offers a one-stop fintech tool, they've each got a good chance of...

How APIs are being used at Citi, BBVA and other leading banks

In the past few years, APIs have become a surprisingly hot topic, considered by many as a golden key to open banking and innovation.

Stock Market Faces Critical Test Amid China Tensions & Data Deluge

By CCN: The next week could be a bumpy one for the stock market, as domestic wildcards and red-hot trade war tensions threaten to smack the S&P 500 and Dow Jones Industrial Average lower. China Bogeyman

Get ready for fintech

Fintech is playing an increasingly important role in the field of finance and is seen by more and mo

Singapore’s iSTOX to Launch a Regulated Digitized Securities Platform in 2020

A capital markets platform in Singapore will be ready to fully launch regulated trading of digitized securities in early 2020.

Kraken Paid 250 Salaries to Staff in Bitcoin Last Month, Exchange Tells Critic

Addressing critics who claim crypto salaries aren’t viable, Kraken added: “By the way, the employee who took 100% bitcoin in 2012 retired in 2013.”

German Crowdfunding Platform aescuvest Raises €1 Million in Funding Round

aescuvest, a Germany based crowdfunding platform serving the healthcare market, has received a €1 million investment from a group of investors, according to a note from the firm. This is aescuvest's first external round of financing. Mutschler Ventures AG, which specializes in start-ups, the holding

Deutsche, UBS plan revival; Landlord charged with fraud

Christian Sewing ready to make "tough cutbacks" while UBS may need a new strategy; SEC says Robert C. Morgan misled banks with fake loan papers.

Delivering Value and Financial Access to More Americans

Deeply woven into the fabric of the United States is the prospect of upward economic mobility and th...

Judge rejects Trump effort to block Deutsche Bank, Capital One subpoenas

The House Financial Services and Intelligence panels had "legitimate legislative purpose" in requesting President Trump's financial records, the judge said. It is the second such ruling this week.

Hot Fintech Market Has Investors Eyeing Rebound in Depressed Square Stock

Don't expect the SQ stock price make big moves any time soon as the Street is starting to price Square stock with a more realistic view.

Conversational AI firm Clinc raises $52m

The Series B round brings the Ann Arbor, Michigan-based fintech’s total capital to $60 million.

This fintech says it can help financial advisers take on banks

Galileo Processing has created a digital banking product that seeks to provide wealth managers with the offering they generally lack: an in-house savings account that pays competitive rates.

This fintech says it can help financial advisers take on banks

Galileo Processing has created a digital banking product that seeks to provide wealth managers with the offering they generally lack: an in-house savings account that pays competitive rates.

Fintech Tips: How to invest using apps? - AltFi News

Fintechs offer saving and investing options ranging from digital piggy banks to trading in cryptocurrencies. Here is a guide for those new to fintech investing.

Mexico courts big banks; New York eyes taxi lenders

New president suggests less regulation and meets with bank leaders; state and city check for illegal lending activity.

First Internet to buy SBA platform from Colorado bank

First Internet will gain lenders and servicing staff, along with offices in Chicago and Indianapolis, from the deal.

Money transfer app Pangea looking to offer checking accounts

More firms are looking to jump into the challenger bank world.

Fintech Authority Chris Skinner Reveals Keys to Being True Digital Bank

Noted fintech influencer says traditional banking institutions have a strong future ... if they adapt. He shares lessons from digital leaders.

Ann Arbor-Based Fintech Startup Clinc Raises $52M, Aims For 2022 IPO

Research and development surrounding the use of artificial intelligence has skyrocketed in the past few years, with advancements from big companies like Amazon.com, Inc. (NASDAQ:...

Pricey San Francisco bank deal could motivate others to sell

The Bay Area is a booming market with a limited number of smaller banks. The high premium Presidio is receiving from Heritage Commerce might spark more M&A activity.

Azlo Partners with Kabbage on Small Business Loans to the Underserved | Bank Innovation | Bank Innovation

Business banking platform startup Azlo and digital lender Kabbage are teaming up to offer loans to small business customers, including those underserved by the

Fintech Authority Chris Skinner Reveals Keys to Being True Digital Bank

Noted fintech influencer says traditional banking institutions have a strong future ... if they adapt. He shares lessons from digital leaders.

Mumbai Thrives to Become the FinTech Hub

FinTech is an important marker of digital progress & Mumbai being one of India’s primary economic hubs with a total wealth of $820 billion has the maximum potential to flourish in the space.

Financial Institutions Utilize Diverse and Maturing Fintech Solutions

NEW YORK, May 17, 2019 /PRNewswire/ -- The evolution of technology has completely reshaped many industries around the world. Now, almost every industry has...

Blockchain's Role Will Be Critical After the Next Financial Crash - GoodDollar Lead Economist | The Fintech Times

A dozen years after the last major financial crisis, experts are predicting a global economic downturn will happen, as wealth inequality grows...

Azlo and Kabbage team on small business lending programme

Azlo, a U.S. online banking platform, and Kabbage, Inc., a cash-flow technology and small business lending platform, announce the launch of Mission Street Capital, a new program that provides small businesses banking with Azlo access to loans through Kabbage® up to $250,000.

Kabbage inks deal with online banking platform Azlo

Azlo will offer customers the ability to apply for a Kabbage loan through a new program called Mission Street Capital.

NadiFin showcases 2019 fintech cohort

After 100+ applications from around the globe, 11 post-seed and pre-series B stage Fintech companies have been selected and are ready to scale to new heights through the NadiFin Fintech Accelerator program, powered by MiddleGame Ventures and Farvest in partnership with the Luxembourg House of Financial Technology (LHoFT).

Coinbase Goes for Tether's Throat, Catapults USD Coin Into 85 Countries

By CCN: Given the widely publicized troubles faced by Tether (USDT), there is a massive opportunity for a competitor to wade into the stablecoin arena. It appears that Coinbase will be that adversary, as the

11 UK-Based Working Capital Financing FinTechs to Watch out For

UK-based working capital providers are on the rise. Today, we take a look at 11 exciting working capital financing FinTech players to watch out for from the UK. Read it only on MEDICI.

Malaysian regulator lays down business continuity rules

The Securities Commission Malaysia (SC) today issued Guiding Principles on Business Continuity for capital market entities, as part of its ongoing efforts to enhance the systemic resiliency of the capital market.

Ripple's Xpring, Outlier Ventures Back $4 Million Raise for Agoric - CoinDesk

Agoric, which is looking to build a smart contract-focused programming language, secured $4 million in backing from Ripple's Xpring, Zcash, and others.

Santander, LeasePlan Testing Nivaura's Blockchain-Based Floating Rate Bond - CoinDesk

Capital markets startup Nivaura has developed a floating rate bond using blockchain tech, and it's already being tested by Santander and LeasePlan.

Goldman near deal for wealth manager; Citi’s digital bet paying off

Purchase of United Capital Financial would extend the bank’s reach; the bank is raking in online deposits even as it pares back its branch network.

How the Venture Studio model, borrowed from Hollywood, may finance the Blockchain Economy, replacing the current Fund centric model that drives Silicon Valley.

TLDR Hollywood & Silicon Valley both have proven models for harnessing ideas & talent to big profits. As we move from rock stars to film stars to code stars, the model from down south in LA…

Bitcoin Just a Shady ‘Ponzi Scheme,’ Rants Goldbug Peter Schiff

By CCN: Market contrarian and popular gold bug Peter Schiff has once again come out with guns blazing against bitcoin and cryptocurrency. Peter Schiff: 'Ponzi Scheme' Bitcoin Is 'Fool's Gold' with 'No Value' In an interview with

John Mcafee Brands Banker-FUDed US Congressman Crypto Dracula

U.S. Congressman Brad Sherman’s call to ban cryptocurrencies has been labeled as ‘FUD’ by anti-virus software guru and crypto influencer John McAfee. The cryptocurrency maverick who is also vying for the U.S. presidency equated the

Binance-Backed Crypto Bank Appoints Deutsche Bank Executive as New CEO

Malta-based cryptocurrency bank Founders Bank hired former Deutsche Bank executive Kenan Altunis as its new CEO.

A commercial lending battle royal in Kansas City

The city, among the Midwest's most vibrant C&I markets, is luring community banks, as well as giants like PNC and JPMorgan Chase.

Group plans new bank in Houston

The coastal city quickly rebounded after being hit by Hurricane Harvey in August 2017.

BitGo Hires Wall Street High-Frequency Trader as Head of Financial Services

Blockchain security and cryptocurrency custody firm BitGo has appointed a Wall Street high-frequency trader as its head of financial services.

BitGo Hires Former Wall Street Forex Trading Exec - CoinDesk

Crypto custody provider BitGo has hired Nick Carmi, former head of forex trading at a number of Wall Street banks.

Capital on Tap integrates with Xero bank feeds

There have been a number of leading fintech integrations with Xero’s full-featured API for bank feeds which launched last year but Capital on Tap is the first credit provider!

House committees in talks with Trumps about bank subpoenas

Two congressional panels said they are in "good-faith negotiations" to allow President Trump to see copies of subpoenas directing Deutsche Bank and Capital One Financial to turn over his bank records.

Tandem Recognized as Best New Digital Bank

Challenger bank Tandem has been recognized by CFI.co (Capital Finance International) as the 'Best Neo Bank UK 2019.' According to Tandem, the CFI.co judges stated that “Tandem differentiates itself from other banks in the way its people always consider how well a new initiative will

Why Are Tesla Haters So Vicious? Elon Musk Looks For Answers

By CCN.com: Elon Musk has taken to Twitter to question the army of Tesla haters that bet against Tesla stock. In an exchange with Y-Combinator co-founder Paul Graham, Elon Musk acknowledged that his company is targeted

RPA firm UiPath closes $568m funding round

Company’s post-money valuation has grown from $110 million to $7 billion.

Diamond Standard Launches Blockchain-Powered Token Backed by Real Gems - CoinDesk

A new startup is looking to make diamonds as attractive to institutional investors as gold.

Bramson gets his moment; Where Deutsche-Commerzbank talks went wrong

Activist concedes he doesn't have the votes to join Barclays' board; How an "inevitable" deal fell through and where the banks go from here.

Digital Assets Data to enhance crypto data insights with $6m funding

The firm targets crypto hedge funds, family offices, asset management research firms

Trump Sues Banks to Block Dems Attempting to Wrangle His Tax Returns

By CCN: President Trump is taking a stand against Deutsche Bank and Capital One for participating in a frivolous plan once again being enacted by House Democrats. This time, liberals are looking to gain access to

House extends subpoena deadline for Deutsche Bank, Capital One

The banks were ordered to submit records related to President Trump's businesses, but lawmakers have agreed to give the companies until seven days after a judge rules on the Trump family's request to block the subpoena.

TD Bank’s calculated shift to the cloud

The North American banking giant is making a gradual yet concerted effort to migrate applications to Microsoft’s cloud, but there are still sensitive operations and pieces of data that it’s holding back on for now.

Wall Street's political largesse; Banks had a good April

Political contributions from Wall Street rose, but did they influence policy?; bank stocks post biggest monthly gain since President Trump was elected.

Obey Congress or Trump? Deutsche Bank, Capital One in no-win situation

Congress has broad subpoena powers to demand the president’s financial records, but no bank wants to disclose confidential information about a powerful client.

Inside Varo Money's three-year quest for a bank charter

Colin Walsh, Varo’s chief executive, says the disruptor has hired several former regulatory officials to help in what has admittedly been “a difficult process.”

Digital Assets Data raises $6m

Digital Assets Data, a financial technology and data company focused on the burgeoning crypto-asset industry, has launched with the support of a $6 million USD raise from leading investors, including Distributed Global, Digital Currency Group, Morgan Creek, Galaxy Digital, Jump Capital, CMT Digital, and Ritholtz Wealth Management CEO Joshua Brown, among others.

Capital One drives auto finance deal with CarGurus

CarGurus (Nasdaq: CARG), a leading global automotive marketplace, today announced a partnership with Capital One Auto Finance that will benefit both consumers and dealers.

HTC Plans to Launch Another Blockchain Phone This Year, Exec Says - CoinDesk

Electronics giant HTC is planning to launch a second-generation EXODUS blockchain phone by the end of 2019.

Goldman not yet talking 1MDB settlement; Standard Chartered plans buybacks

CEO Solomon says the bank has not yet begun discussions with DOJ about its role in the scandal; the $1 billion buyback would be its first in 20 years.

Seedrs and Crowd2Fund's Participation in DIT Fintech Bridge Program Indicates Global Crowdfunding Ambitions

Yesterday at the opening of UK Fintech Week, Secretary of State for International Trade and President of the Board of Trade Liam Fox announced the launch of the “DIT Fintech Bridge Pilot Program.” According to the Department for International Trade (DIT), the Bridge announced is

Trump sues to stop Deutsche Bank, Capital One from disclosing accounts

The suit seeks to block the banks from complying with congressional subpoenas targeting the president’s bank records, escalating his showdown with Democratic lawmakers investigating his finances.

C&I a bright spot in 'disappointing' quarter for lending

Even as consumer and CRE lending slowed in the first quarter, business lending — particularly to middle-market companies — surged. But some banks are already warning that the growth could taper off as competition from nonbanks heats up.

Local Media: HTC Plans to Launch 2nd Gen Blockchain Smartphone in 2019

HTC has revealed plans to launch a second-generation model of its blockchain-centric smartphone before the end of 2019.

Capital One to Be Fully on Public Cloud by End of 2020 | Bank Innovation | Bank Innovation

Capital One Financial plans to complete the exit from its data centers and to go fully into the public cloud by the end of 2020, Chairman and CEO Richard

Credit card charge-offs hit seven-year high

Thirty-day delinquency rates, a harbinger of future write-offs, also increased at all seven of the largest U.S. card issuers in the first quarter.

C&I, fee income boost Capital One's 1Q profit

The strong growth in commercial lending made up for more modest gains in credit card and auto lending, its two largest business lines.

Most steer clear of in-school loans. This fintech wants in

Earnest hopes offering a streamlined process can help it thrive in a risky niche.

Samsung Invests $2.9 Million in Crypto Hardware Startup Ledger - CoinDesk

Samsung has invested nearly $3 million in French crypto hardware wallet maker Ledger.

Small core providers see de novos as a ‘land grab’ opportunity

Alternative providers like courting new banks. De novos like the modern features many alternative providers offer upfront.

Fee income, deposit growth highlight Citizens' 1Q

The Providence, R.I., bank reported increases in most fee-based lines and loan categories, and it continued to add deposits through its new digital franchise, Citizens Access.

Capital Bank of Jordan selected Backbase for digital transformation

Implementation will be carried out by Backbase and one of its partners, Lisbon-based Bring Global.

New $50 Million Blockchain VC Fund Partners With HTC

Proof of Capital, a new blockchain VC fund backed by an HTC exec, is held in fiat currency, as opposed to token-based investments.

New $50 Million Venture Fund Eyes Global Blockchain Adoption - CoinDesk

A group of investors has launched a new blockchain-focused VC fund worth $50 million, aiming to bring the technology to the masses.

With stress tests, less is more

The Fed is stepping up transparency around its process for testing bank resiliency in a hypothetical crisis, but additional improvements are needed.

First Horizon, Pinnacle boost hiring in wake of BB&T-SunTrust deal

Executives at the Tennessee banks are using the biggest bank merger in a decade to aggressively recruit lenders and clients in Southeastern markets.

French Minister of Finance: Blockchain Is a Government Priority

France’s Minister of Economy and Finance, Bruno Le Maire, has stated that blockchain technology is a priority for his country’s government.

Harvard's Endowment Fund Invests in Blockstack Tokens, Supports Company as Part of Token Advisory Board

Harvard University, via their endowment fund, is backing Blockstack's security token offering. Digging into the Reg A+ Offering Circular filed with the SEC last week, Blockstack highlighted the relationship with Harvard Management Company: 'In connection with the sale to the QP Fund, we have formed

Extend raises $11m for virtual card issuance platform

Virtual corporate credit card issuance startup Extend has raised $11 million in a Series A funding round led by Point72 Ventures and FinTech Collective.

Blockstack Files With SEC to Raise $50 Million in Reg-A+ Crypto Token Sale - CoinDesk

Blockstack has filed with the U.S. SEC to to conduct a $50 million token offering under the Regulation A+ framework

Fed is a rubber stamp for bank mergers — it’s a problem

The central bank has failed to appropriately scrutinize deals in recent years, potentially putting the financial system at risk.

SME lender financial engineers should look to Africa for inspiration

Credit models can be the live or die, make or break moment for a start-up lender. Get one assumption wrong (or a number of them), and suddenly you have a serious arrears problem. One that can tip y…

Mortgage lender poised to begin digital bank experiment

Gateway Mortgage Group’s dream of being a national, diversified financial services player will hinge on its effort to turn a community bank into an online-only platform.

Mambu Opens Second North American Office to Focus on Digitizing U.S. Legacy Banking Technology

Mambu, a Berlin-based SaaS banking platform provider, announced on Tuesday it has opened a second North American office to focus on digitalizing U.S. legacy banking technology. According to Mambu, the office will strengthen its service capacity and grow its U.S. commercial teams, by allowing it

US Startup Raises $3.5 Mln From Pantera, Others to Launch Decentralized Exchange on LN

Crypto startup Sparkswap completed a $3.5 million seed round to launch a fast and secure decentralized exchange.

Visa backs Branch for mobile-based lending in developing markets

Branch International, a San Francisco-based startup that uses mobile phones to offer loans to people without bank accounts in developing countries, has closed a $170 million Series C funding round led by Foundation Capital and Visa, which is also backing the firm through a strategic partnership.

Sparkswap Raises $3.5 Million From Initialized, Pantera for Lightning-Powered DEX - CoinDesk

Pantera-backed Sparkswap has launched to offer pro traders litecoin-to-bitcoin atomic swaps using the lightning network.

Capital One Presents Blockchain Patent for Content Validation

The bank holding corporation adds to its existing blockchain efforts, which last year included a user authentication application.

Powerful New Android Malware Using Accessibility Feature to Ransack Financial Accounts

Hackers are selling and using a potentially devastating 'new generation of (Trojan) malware' called Gustuff to hijack bank, cryptocurrency, remittance, and payment details and accounts of Android users, cybersecurity firm Group IB reports. Notably, the malware exploits Android Accessibility Service features designed to help  disabled

Coinbase, Paradigm Invest $15 Million in Startup Behind Disappearing Blockchain - CoinDesk

Made by the startup O(1) Labs, the lightweight Coda protocol is adding more big-name investors to its cap table.

Riot Blockchain Reports $58 Million USD Loss, Needs Capital to Push On

Riot Blockchain (NASDAQ: RIOT), a company formed in the fall of 2017 when directors decided to shut down endeavours at BiOptix Diagnostics Inc. and pivot into cryptocurrency mining and investing, has reported a net loss of $58 million in 2018. Riot Blockchain managed to generate

Goldman to share code with developers; Mastercard’s digital ID blueprint

Firm “hopes to crowdsource new uses for” its pricing and analysis system; the system could be put on a device and used anywhere to cut down on fraud.

Mswipe raises $30 million in Series E

Mswipe Technologies Private Limited (“Mswipe” or “the Company”), India's largest independent merchant acquirer and Point of Sale (POS) network provider, today announced its plans to have 1.5 million merchants on its platform by the end of FY 2020.

Capital One Treasury Head: AI and ML Driving Customer Experience Improvements | Bank Innovation | Bank Innovation

Phil Beck, Head of Treasury Management at Capital One, is almost a year into his job at the McLean, Virginia-based bank, where his focus has been getting

9 Technology Changes Impacting the Consumer Experience in Finance Today

New innovations in technology are allowing financial institutions to serve customers in novel and u

Crypto-Stealing Gustuff Trojan Unmasks Alarming Banking Vulnerabilities

The darknet has a new soldier in the form Gustuff, a new Android trojan that has targeted over 125 cryptocurrency and banking apps. Gustuff has been in existence since April 2018 and stands with Anubis, Red

Plaid Expands Institution Coverage in Canada

Plaid, a U.S.-based fintech startup, announced on Thursday it has expanded its institution coverage in Canada. The company launched its services in the country last year and recently added support for Desjardins, National Bank of Canada, President's Choice, and Simplii. Along with the expansion of

Plaid expands Canadian coverage

We’ve continued to expand institution coverage in Canada since we launched in the country last year. Recently, we added support for Desjardins, National Bank of Canada, President's Choice, and Simplii.

Mexican lendtech Credijusto scores $100m credit facility with Goldman Sachs

Credijusto, the leading tech-enabled lender in Mexico, announced today that it has closed a credit facility with Goldman Sachs for up to USD $100 million.

JPMorgan's clampdown on data puts Silicon Valley apps on alert

Long-simmering tensions between the financial industry and Silicon Valley startups are erupting behind-the-scenes into a battle over the reams of valuable data held inside Americans' bank accounts.

The 5 Banking commandments for your own Bezos moment

Dear Banks, It only takes an internal memo to ignite your own Bezos moment. Five clear and crystal commandments[1] (“good artists borrow, great artists steal”) that you can steal from Jeff B.: All …

11 Startups Show Their Latest and Greatest at INV Fintech Demo Day | Bank Innovation | Bank Innovation

Eleven startups participated in the Demovation challenge at the Bank Innovation Ignite conference in Seattle earlier this month. These startups, diverse in

'Friendly fraud' is on the rise. Are banks complicit?

Reports of improper charges by perpetrators who know the victim soared last year. Issuers and card networks are failing to tighten security, clearly label transactions and police chargebacks, critics say.

Capital One Trains Virtual Assistant Eno To Be Proactive with New Tax Feature | Bank Innovation | Bank Innovation

Most virtual assistants are reactive, but Capital One is training its virtual assistant, Eno, to be proactive, according to Ken Dodelin, VP of conversational AI

Madison’s a tough nut for banks to crack

The small Wisconsin city features a vibrant economy, low employment and a growing population, but banks that want to buy their way into the market have their work cut out.

Money keeps flowing to fintechs

Chime, Chart IQ, Starling Bank and several other startups have raised millions of dollars from venture capital and private-equity firms this year. Here's what they plan to do with their haul.

Fintechs look to Mexico for growth; Amex’s next hurdle

Fintech investors, including Goldman Sachs, see opportunity in Mexico; firm’s growth in lending could be a problem if economy goes south.

Nadfin opens accelerator to fintech growth firms

Applications are now open for the NadiFin Fintech Acceleration program powered by MiddleGame Ventures and Farvest in partnership with the Luxembourg House of Financial Technology (the LHoFT), until April 10th, 2019.

JPMorgan Chase adding dozens of branches in Midwest, Southeast

The nation's largest bank plans to open 90 new branches in new cities this year while continuing its expansion in the Philadelphia, Boston and Washington markets.

New World Capital Advisors invests in IslamicMarkets

New World Capital Advisors (“NWCA”), the specialist merchant banking and investment firm, has announced a strategic investment in IslamicMarkets, a leading financial intelligence, e-learning and investment platform focused on the global Islamic economy.

Report: Coding on High Profile Crypto 'Forks' Negligible in Past Year

Bear markets may have taken the wind out of several crypto fork's sails, as the number of code commits lodged by developers of coins like Litecoin and Bitcoin Gold have fallen to less than half-a-dozen per month, says 'crypto asset management firm' Electric Capital. The

How to calculate the Customer Lifetime Value of an Asset Management client?

Some Fintech startups are betting on the growing Assets Under Management (AUM) of millennials. Among...

Will BB&T-SunTrust start a de novo wave?

Big bank mergers have historically been a catalyst for startups. Experts say it could happen again.

Bitcoin Mining Giant Canaan Raises 'Hundreds of Millions of Dollars'

Canaan Creatives, the world's second-largest bitcoin mining chipmaker, has raised 'hundreds of millions of dollars' in a new financing round. STCN reported that the latest funding pushed Canaan's worth to at least a billion dollar. According

Australian POS financing startup PayRight raises $30+ million

Australian fintech PayRight has raised over $30 million through a mix of debt and equity, with just over $26.5 million secured in the past 12 months led by corporate advisory firm Henslow in partnership with wealth manager Escala Partners.

FHFA chief-to-be's top priority: More capital for Fannie, Freddie

Mark Calabria, who could be confirmed as early as this month, is expected to focus on changes to Fannie Mae and Freddie Mac’s conservatorships to let the mortgage giants keep more of their profits.

Top Cryptos See Slight Growth as Bitcoin Approaches $4,000

Most of the top 20 cryptocurrencies are reporting slight gains as Bitcoin approaches $4,000.

Over 80 Percent of Total ETH Supply is Held by 7,572 Addresses: Research

Over 80 percent of the total supply of Ethereum’s native token ETH is held by 7,572 addresses, a new report claims.

Ethereum Has More Than Twice as Many Core Devs per Month as Bitcoin: Report

Ethereum has the most developers working on its base protocol of all cryptocurrencies, not counting community project developers.

Ethereum Has More Than Twice as Many Core Devs per Month as Bitcoin: Report

Ethereum has the most developers working on its base protocol of all cryptocurrencies, not counting community project developers.

Ethereum Trumps Bitcoin in Active Protocol Development: Research

Bitcoin might dominate the cryptocurrency market cap, but "digital gold" takes the silver podium when it comes to protocol development, according to crypto research firm Electric Capital. Researchers: Ethereum - Not Bitcoin - Has Most Active

Banks battle fintechs over installment sales; Barclays deck cleared

Banks moving past traditional card lending to compete on POS; ; five board members plan to leave before the bank’s May meeting.

Coinbase Bought Neutrino for $13.5 Million, Acquisition Contract Allegedly Shows

Coinbase had spent $13.5 million to purchase controversial blockchain intelligence startup Neutrino, documents allegedly show.

Fed curbs stress test requirement for most large banks

The central bank is limiting the use of its qualitative objection in this year’s stress tests, the agency announced Wednesday.

U.S. Alternative Asset Platform Alto Secures $2.8 Million Through Seed Funding Round

Alto, a technology platform for investors to add alternative assets to IRAs,  announced on Wednesday it secured $2.8 million through its seed round in order to expand its offering and integrate additional investment platform partners. The new funding brings Alto’s total funding raised to $3.8

Cognizant acquires MeritSoft

Cognizant (Nasdaq: CTSH) today announced it has acquired Meritsoft, a privately-held financial software company based in Dublin, Ireland. Meritsoft is best known for its FINBOS platform for post-trade processing, an intelligent automation solution for managing taxes, fees, commissions, and cash flow functions between financial institutions.

Grab gobbles $1.4 billion investment to build super app

Grab Holdings Inc. (“Grab”), Southeast Asia’s leading super app, today announced it has secured US$1.46 billion of fresh funding from the Softbank Vision Fund (“SVF”).

Startup investment bank seeks to become one-stop shop for crypto

Fincross, based on the island of Mauritius, is launching a regulated investment bank for digital assets. It faces tough competition.

Citi, Goldman Sachs invest in Second Measure

Second Measure, a technology company that analyses billions of everyday purchases to answer real-time questions about consumer behavior, has closed $20 million in a Series A funding round co-led by Bessemer Venture Partners and Goldman Sachs, and joined by Citi Ventures.

London crowned Unicorn capital of Europe

London is top choice for international scale-up businesses, according to latest data compiled by London & Partners, showing that the UK capital is Europe’s number one tech hub for unicorn companies and attracted more foreign direct investment (FDI) than any other city in 2018.

JaJa waitlist grows to over 6000 people ahead of credit card launch

Jaja Finance, the company on a mission to simplify the world of consumer finance, has seen its customer waitlist grow to over 6,000 people following a successful crowdfunding campaign on Seedrs.

Fintechs Cater to E-Commerce Businesses with New Products, Services | Bank Innovation | Bank Innovation

Two fintechs announced new products and services this week geared toward e-commerce sellers, pointing to gaps in offerings from banks and legacy card companies

London Stock Exchange Leads $20 Million Fundraise for Blockchain Startup Nivaura - CoinDesk

Nivaura, a startup tokenizing traditional financial instruments, has raised $20 million from investors led by the London Stock Exchange Group.

Institutional Crypto Wallet Startup Raises $6.5 Million, ‘Eliminates Private Keys’

Curv, a digital asset startup from New York, has raised $6.5 million from several companies to launch an institutional crypto wallet without private keys.

JPMorgan's Dimon: Square innovated where we should have

The CEO of the nation's biggest bank gave the fintech props for revolutionizing payments and then building off its success to provide a whole range of services to small-business clients.

Fiserv joins Financial Data Exchange

Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, today announced its role as a sustaining member of the Financial Data Exchange (FDX), a non-profit group formed to establish information sharing and security standards for the financial sector.

Kraft Heinz Weighs Dramatic Maxwell House Sale after $16 Billion Stock Wipeout

Kraft Heinz reportedly no longer believes its iconic coffee brand Maxwell House is ‘Good to the last drop’ (as the brand’s slogan says). According to CNBC, the food giant could sell Maxwell House among other assets.

Kraft Heinz's 20% Stock Plunge Sees Warren Buffett's Berkshire Hathaway Lose $2.8 Billion

The SEC isn’t messing around when it comes to investor protection. We’re getting used to subpoenas being dealt out in the cryptocurrency space. But when it comes to traditional industries, they pack a decent punch.

What community banks like so much about Northern Va.

Bankers are eager to expand there through M&A, de novos or other means, encouraged by strong employment and disruption created by recent consolidation.

Brief: Mambu Secures $34M in New SaaS-y Funding Round Led by Bessemer Venture Partners

Mambu, a Berlin-based fintech SaaS banking platform, has raised $34 million (30 million euros) in a funding round led by U.S. investment firm Bessemer Venture Partners. Action Capital, CommerzVentures, Point Nine Capital and Runa Capital also participated in the round. Mambu will use the funding to invest

Mambu joins fintech fund raise craze with EUR30 million round

In a busy day for fintech fund raising, SaaS banking engine Mambu has announced a EUR30 million investment round led by Bessemer Venture Partners.

OurCrowd Joins $27.8 Million Series C of Sight Diagnostic Creator of Point-of-Care Blood Diagnostics System

OurCrowd has joined in the Series C funding of Medtech firm Sight Diagnostics. The company is creating a lab-grade point-of-care blood diagnostics system 'OLO.' This system is designed to provide patients with lab-grade blood testing results in minutes rather than days by combining AI with

Blockchain Investors Are Cautiously Optimistic and Cite Overdue Upgrades

This is a paid-for submitted press release. CCN does not endorse, nor is responsible for any material included below and isn’t responsible for any damages or losses connected with any products or services mentioned in the press release. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the press release. Speculation is one of the most notorious features, or bugs, of the blockchain space. It has created a reputation for the field that was mostly earned thanks to developments in Bitcoin’s largest contender and probably its most ambitious project to date.

Cross-border e-payments firm PPRO reports strong 2018 growth

Ppro, a cross-border e-payment specialist and one of the fastest growing fintech businesses in Europe, has today announced 48% growth for the Acquiring business in Retail e-commerce in 2018.

Community Capital: Raised from, by and for, the Community

Democratizing capital for small business and citizen investors The mission of NC3 is to help move a significant portion of the estimated $65+ trillion that Americans have in long-term savings from Wall Street to local and social entrepreneurs, and to inspire similar shifts worldwide. We are

Globex Signs Agreement with First Growth Funds to Power Compliant Security Tokens in Australia and New Zealand

GlobexUS Holdings, parent of Horizon Globex US, has inked an agreement with First Growth Funds Limited (ASX:FGF) to power regulatory compliant security tokens in both Australia and New Zealand. First Growth Funds trades on the Australian Stock Exchange and is a micro-cap with a market

Banorte selects Murex’s MX.3 platform

Banorte, the second largest financial institution in Mexico, has recently selected Murex, a global leader in trading, risk management and processing solutions, to meet its counterparty risk, XVA and collateral management needs.

Open Banking Fintech Bud Raises $20 Million Through Series A Funding Round

Bud, a UK-based open banking fintech startup, recently announced it raised $20 million through its Series A funding round, which involved participation by HSBC, Goldman Sachs, Banco Sabadell, ANZ and Investec . Founded in 2015, Bud describes itself as an early stage business that offers an

Hodler’s Digest, February 4–10: Top Stories, Price Movements, Quotes and FUD of the Week

The mystery around embattled crypto exchange QuadrigaCX deepens, and Facebook acquires a blockchain startup.

UniCredit restructures management team

UniCredit Group today announced a reorganisation project of its senior management team as it begins the development of its 2020-23 strategic plan, which will be presented to the markets in London on 3 December 2019.

Boston Dynamics, Maker of Scary Fast Robots, Raises $37 Million from Softbank; Sales to Begin in 2019

The next 12 months might be the period when the dreaded “robot apocalypse” swings into effect, as Japanese-based SoftBank, has reportedly invested an additional $37 million into next-generation robotics company Boston Dynamics.

Crypto Firm Accused of Fraud, Duping Investor Into Buying $2 Million in Tokens

New York-based firm Blue Ocean Capital is being accused of fraud for allegedly duping an investor out of $2 million

Investors are Dumping Google Stock Despite Higher Q4 2018 Revenues of $32 Billion

Google delivered higher than expected revenues and earnings per share in its fourth-quarter 2018 results. Yet Google stock dropped 3% in after-hours trading and fell over 2% in premarket trading.

Bitcoin's Longest Bear Market Hits 6-Month Milestone. The USD? Strolled Past the 79-Year Mark

Bitcoin Price's 6 Month Bear Market Has Nothing On The U.S. Dollar's 79 Year Slide Into Monetary Oblivion.

Big banks back Bud in $20 million funding round

Open Banking outfit Bud has raised $20 million with the support of Goldman Sachs, HSBC, ANZ, Banco Sabadell and Investec, as well as Lord Fink, the former chief executive of hedge fund Man Group, and 9Yards Capital.

Major European Publisher Axel Springer Partners with SatoshiPay

Major European digital publisher Axel Springer has partnered with SatoshiPay to enable direct payments using blockchain.

Under Fire: Kik Is Gearing Up for a Fight With the SEC

Messaging app Kik intends to take the fight to the SEC if regulatory action is taken against its 2017 token sale.

Report: Kik Plans to Battle Expected SEC Enforcement Action Regarding $100 Million ICO

In a report this past weekend, Kik - a Canada based company, indicated its intent to battle an anticipated enforcement action by the US Securities and Exchange Commission (SEC). According to WSJ.com, Kik is willing to go to the mat with the Commission in the

Revolut to create global licensing team

Revolut has shared plans to build a 'global licensing team', responsible for securing banking, trading and credit licences in multiple markets around the world, starting with the United Kingdom and the United States.

CryptoProfile Announces New Platform Set to Revolutionize the Cryptocurrency Industry

This is a paid-for submitted press release. CCN does not endorse, nor is responsible for any material included below and isn’t responsible for any damages or losses connected with any products or services mentioned in the press release. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned

Security lapse exposes millions of mortgage documents

A huge cache of financial documents scanned from paper-based mortgage and credit reports was exposed online in an alleged major security lapse at US data and analytics company Ascension.

Capital One-Walmart Partnership Zeroes in on Digital Opportunities | Bank Innovation | Bank Innovation

Richard Fairbank, Chairman and CEO of Capital One, kicked off his fourth-quarter earnings call touting the bank's card partnership with Walmart and hinting at

Capital One-Walmart Partnership Zeroes in on Digital Opportunities | Bank Innovation | Bank Innovation

Richard Fairbank, Chairman and CEO of Capital One, kicked off his fourth-quarter earnings call touting the bank's card partnership with Walmart and hinting at

DX Exchange Security token model could democratise Wall street

2019 is the year of the Security tokens. We have had several ebbs and flows in the Blockchain industry over the last few years. Events of the past 18 months especially have shaken the industry into…

Alternative Small Business Finance Provider Capify Receives £75 Million Credit Facility From Goldman Sachs

Capify, a UK-based alternative small business financing provider, announced on Thursday it received a £75 million credit facility from Goldman Sachs Private Capital to support its future growth plans and provide working capital to thousands of Australian and British small businesses. Launched in 2008, Capify describes itself

Alternative lender Capify scores $95m Goldman Sachs credit facility

Capify, a leading alternative small business finance provider in the UK and Australia, has secured a £75 million (approx. $95 million USD) credit facility from Goldman Sachs Private Capital ("Goldman Sachs") to support its future growth plans and provide working capital to thousands of Australian and British small businesses over the coming years.

BitPay hits $1bn in 2018 transactions

BitPay, the largest global blockchain payments provider, today announced another record year along with key accomplishments and expansion of the payment processing platform for 2018 after more than seven years in business.

France's Largest Bank BNP Paribas Loses $80 Million Due to Trader's Pre-Vacation Snafu

According to multiple sources, BNP SA, known by many as the largest bank in France, reportedly made a loss of $80 million in derivative trades connected to the United States. The sources confirmed that Antoine Lours, the Head of U.S index trading at BNP, is yet to return to his position at the bank. Lours

What We Know About Yellow Vests’ Bank Run and How Crypto Could Help It

French grassroots political movement is planning a bank run on Jan. 12.

LendUp scores investment to spin off credit card biz

LendUp, a financial technology company for the emerging middle class, today announced an undisclosed investment led by LL Funds LLC and Invus Opportunities to scale its credit card business as a stand-alone company, Mission Lane.

Bridge Financial raises series A funding

Bridge, a portfolio management software platform provider for RIAs, fiduciary financial advisors, and wealthtech companies, announced today that it has raised Series A funding led by FINTOP Capital and MissionOG

French Tobacco Shops Start Selling Bitcoin Despite Regulatory Uncertainty

Several tobacco shops in Paris have started selling Bitcoin in partnership with local crypto wallet despite the regulatory uncertainty.

France’s Yellow Vests Plan Bank Run to ‘Scare State Without Violence’

Organizers of the “Collectors’ Referendum” expect it to be the “most effective” demonstration so far.

Denied an IPO in Hong Kong, Cryptominer Manufacturer Canaan Considering New York Listing

Canaan, the second biggest maker of cryptocurrency mining hardware after Bitmain, may be bringing its bid to go public to a New York exchange after being rejected in Hong Kong, Bloomberg reports. The company may be seeking to sell shares on a US exchange in

Crypto Mining Giant Canaan Eyes New York IPO After Hong Kong Snub

The world's second-largest manufacturer of cryptocurrency mining hardware, Canaan Creative, is now considering going public in the United States rather than in Hong Kong, Bloomberg reports. According to sources who spoke to the business publication, the

Zooming out on Capital Markets and Wealth management

A New Year doesn’t always necessarily mean a new mindset but it does allow us to reflect and zoom out. Capital markets and wealth management, are being disrupted but we are still early in the journ…

Bitcoin in 2019: Analysts See Institutional Investors Wading into Crypto

The bitcoin price got hammered in 2018 amid the prolonged Crypto Winter, but many investment experts expect the volatility to subside in 2019, as institutional investors start entering the market. Some analysts believe bitcoin will re-emerge —

Bitcoin-Friendly Square Uses App and Algorithms to Issue Business Loans

Payments company Square is moving into new markets by issuing business loans and will soon move to consumer lending. Its data collecting and analyzing algorithms are deciding creditworthiness letting borrowers arrange their loans in a

Crypto Crash Offers Investors Tax Write-off Opportunity

Amidst a dreadful year for crypto investors, a significant upside to the dismal performance of their assets could be that the losses could end up saving them a significant amount of tax if they understand

Wall Street Backing Off Its Bitcoin and Crypto Ambitions- For Now

The cryptocurrency mania of 2017 was impossible for Wall Street to ignore, but a mainstream avalanche into crypto is easier said than done, and a stampede of clients demanding crypto-based products from their institutional brokers just hasn't materialized yet, Bloomberg reports. 'The market had unrealistic

HMRC Releases Tax Guidelines on Digital Assets

Her Majesty’s Revenue and Customs, the tax agency for the United Kingdom, has released a set of guidelines that are to guide crypto investors on how to make tax payments and how they should see

Silicon Valley Bank appoints former OnDeck, Capital One exec as chief product officer

Silicon Valley Bank (SVB), the bank of the world’s most innovative companies and their investors, today announced the appointment of Gagan Kanjlia as Chief Product Officer.

French Parliament Refuses to Ease Taxation for Cryptocurrency Owners

French Parliament has rejected most of crypto-related amendments to the 2019 finance bill which were expected to ease taxation.

United Kingdom Releases Tax Advice for Cryptocurrency Investors

Cryptocurrency holders in the U.K. can now consult with official guidance on what tax they should be paying on their assets.

UK Tax Agency Publishes Detailed Guidance for Crypto Holders - CoinDesk

U.K. tax body HMRC has provided an in-depth explanation of how cryptocurrency users should pay taxes on their holdings.

Coinbase Ventures Backs $3 Million Round for Trading Data Startup Nomics - CoinDesk

Nomics has raised $3 million from Coinbase Ventures and other investors for its plan to index 95% of all crypto trading data points.

2018 Year-end review through 3 distinctions

In my first Daily Fintech post[1] of 2018, I wrote about Vitalik who “sounded the alarm on Twitter as he has become deeply concerned about all crypto communities getting lost in a pile of monetary …

Basis shuts down. Will regulation kill crypto?

Last week our theme was “The Action in China.” Our theme for this week is “Basis shuts down. Will regulation kill crypto?” Basis, a cryptocurrency stablecoin, is shutting do…

Michael Kitces: The latest in financial adviser fintech — December 2018

This month's edition kicks off with the big news that Blackrock is taking a whopping $123M stake in Envestnet as the company doubles down on the strategy.

4 Fintech Predictions For The New Year

Next year is expected to be another good year for fintechs as insuretech goes mainstream, online lenders white label products and peer-to-peer payment platforms explode.

SAFEs 2.0: YCombinator Updates the Form

In late 2013, seed accelerator YCombinator introduced the SAFE (simple agreement for future equity) - a convertible instrument designed to make seed stage investing quicker and less expensive. The SAFEs quickly became a popular structure for seed investing.  Early this fall, YCombinator introduced several changes

Canadian Fintech Progressa Teams Up With the Alternative Credit Fund to Facilitated Up to a $13 Million Forward Flow Whole Loan Purchase Program

Progressa, a Vancouver-based financial technology company focused on helping sub-prime and near-prime Canadians seeking to improve their financial health, announced last week it is partnering with Alternative Credit Fund, a Vancouver-based specialty credit fund, to facilitate up to a $13 million forward flow whole loan purchase program

Chinese Blockchain-Related Company Xunlei Reports $45.3 Million Q3 Revenue

Xunlei, a Chinese desktop software producer that has recently turned to blockchain, reports $45.3 million revenue in Q3 2018.

Alexa Collects Huge Amounts of Data. Does That Include Financial Information? | Bank Innovation | Bank Innovation

Alexa is listening. Capital One was famously the first major bank to integrate with Alexa, Amazon's virtual assistant that lives in Echo smart speakers as well

Capital markets software firm genesis raises $3m

Genesis, the international capital markets software firm, today announced the completion of its Series A financing round, securing a total of $3m from Illuminate Financial, a U.K. based capital markets venture capital firm and Tribeca Angels, a New York venture group.

'Mint for Crypto' – Gem Launches Crypto Portfolio Tracker Integrated with 25 Exchanges

Gem Launches Most Connected and Personalized Crypto Portfolio App “Mint For Crypto” app Gem is reporting the launch of a personalized crypto portfolio tracker that integrates with 25 different crypto exchange including Coinbase, Binance, Gemini, Kraken, KuCoin, and more. The crypto portfolio tracker app is

As Bitcoin Price Dropped Sharply, The Reactions Differed Greatly - NullTX

Some were confident that this was just a stumble on the path to adoption, to others it signified the beginning of an intense bull run. To the skeptics, this is all they needed to stamp their long-held belief that cryptos are a scam.

Lending Works Appoints Three New Board Members, Targets P2P Growth

Peer to peer lender Lending Works has selected three new members for their Board of Directors. The online lender has appointed; Simon Waugh, former Chairman of CMC Markets, Deputy CEO of British Gas, Paul Noble, CEO of Honeycomb Finance, a Pollen Street Capital business, and

Jihan Wu Loses Control of Bitmain as IPO Documents Indicate Profit Figures Were Hyped - NullTX

Bitmain has dominated ASIC manufacturing since it was founded in 2013. One man has been at the forefront of this domination, leading the company into the giant that it is today; Jihan Wu. However, it may not be so for much longer, with a Chinese publication revealing that a recent reshuffle has demoted the renowned …

INV Fintech welcomes new class of startups

INV Fintech has announced its sixth accelerator class, which begins this week with six unique startups that are seeking to revolutionize financial services, the accelerator announced today.

Focus Solutions unveils Wealth HUB

Fintech provider Focus Solutions has announced two new initiatives that will modernise the wealth market and change the way wealth managers and private banks interact with their clients.

People Prefer Small Banks and Credit Unions, But The Clock Is Ticking

Consumers prefer local banking providers, but these players lag digitally and their window to catch up is closing.

INV Fintech Announces Sixth Class of Startups | Bank Innovation | Bank Innovation

INV Fintech, Bank Innovation's sister accelerator, has announced its sixth accelerator class, which begins this week with six unique startups seeking to

BitPay Hires New Head of Business Solutions | PYMNTS.com

B2B cryptocurrency payments company BitPay announced this week that Rolf Haag is joining the company to lead its business solutions unit. In a press release, BitPay said Haag will spearhead the company’s B2B and mass payments operations. He comes to BitPay after working for both Western Union as its former director of global mass payments, […]

B2B Startup Funding: TripActions Hits Unicorn | PYMNTS.com

It was another busy week for B2B FinTech startups, with globally and vertically diverse companies securing new funding for their enterprise-targeting tools. The big news of the week comes from TripActions, a corporate travel solutions provider that secured unicorn status with its latest fundraise (the largest in this week’s breakdown). Other notable rounds included a […]

Grab lands $50M from Thailand’s Kasikorn Bank to further its fintech push

Southeast Asia ride-hailing firm Grab is continuing to add strategic investors to its ongoing Series H round — which is targeted at over $3 billion — after it revealed Thai bank Kasikorn put in $50 million as part of a strategic partnership to advance its financial services strategy. Ka…

Survey Eyes Mid-Market Digital B2B Payments | PYMNTS.com

When it comes to B2B payments digitization, not every company will experience the same journey. That’s especially true for firms of varying sizes: Whereas large, multinational conglomerates often struggle to make sweeping changes to their complex and siloed internal systems, smaller businesses often lack the resources to invest in B2B payments digitization projects. Where do […]

JaJa Finance reaches £3 million crowdfunding target

Jaja Finance, the company on a mission to simplify the world of consumer finance, announces that it has already reached its fundraising target of £3m on equity crowdfunding platform Seedrs.