General News

U.S. Financial Service Platform Provider NYMBUS Announces New Industry Advisory Board

NYMBUS, a U.S. financial service platform provider, announced on Friday that Rilla Delorier and John Janclaes have joined its new industry advisory board. According to NYMBUS, the inaugural team of executives will provide valuable perspectives for helping more financial institutions accelerate their digital growth with… Read More

Fintech Apps for Budgeting are Actually Leading to Consumers Spending More Money Instead of Developing Good Savings Habits: Report

Research carried out by Think Forward Initiative and Eller College of Management, University of Arizona reveals that so-called budgeting apps are actually causing consumers to spend more money instead of helping them develop good savings habits. The design of a budgeting app usually involves showing… Read More

Swiss Innovation Agency Innosuisse to Introduce Funding Projects to Ensure Long-Term Sustainability of SMBs

Swiss Innovation agency Innosuisse will be introducing two funding projects in January 2021, which will be called the impulse program “Swiss Innovation Power” and the Flagship Initiative. In November of last year, the Federal Council in Switzerland had committed to launching the impulse program “Swiss… Read More

Digital Assets Platform Anchorage Appoints Asaf Iram as its New Head of Risk

Anchorage, a company that aims to help institutional investors with adopting digital assets, has welcomed Asaf Iram, as the firm’s new Head of Risk. Diogo Mónica, Anchorage President and Co-founder, and Nathan McCauley, the CEO and Co-founder at Anchorage, noted in a blog post published… Read More

Remittance Payments Sent by US-based Mexican Workers to Relatives back Home have Reached Record Levels, following COVID Outbreak

Mexican workers now based in the United States have reportedly been sending record amounts of funds to friends or family members back home since 2020, which may suggest that the American economy has been fairly resilient despite the challenges created by the COVID-19 outbreak. As… Read More

Record Breaking Year for Crowdfunding as Offerings Top £332 Million led by Crowdcube-Seedrs Combo

Securities offerings via crowdfunding platforms in the UK had a gangbuster year, according to a report. In total, £332 million was raised led by the two dominant platforms – Crowdcube and Seedrs – that hoover up over 90% of the offerings. A report by the… Read More

Machine Learning Tools and Algorithms are Now being Used by Canada based Scotiabank to Help Clients Impacted by COVID-19

Canadian banking group Scotiabank has noted that its strategic investments in machine learning (ML) technologies are beginning to pay off during the Coronavirus crisis, allowing it to effectively serve clients as they try to cope with these uncertain and challenging times. Analysts at the bank’s… Read More

Over 160 UK-based Physical Bank Branches are Closing Down Permanently in Coming Months, Making it Difficult to Access Cash

Over 160 physical bank branch locations are shutting down permanently between now and the end of the lockdown period, which has been tentatively scheduled for late March 2021 in the UK.  As first reported by the Daily Mail, these bank branch closures will come as… Read More

Wealth Management Tech Plaform Addepar Acquires RCI to Assist Clients with Making More Informed Investment Choices

US-based wealth management tech platform Addepar notes that for many years, wealth managers have had important questions that have been “surprisingly difficult to answer.” For instance, they want to know what exactly they own in their portfolios and where they own these assets. Wealth managers… Read More

Digital Payments in Saudi Arabia Surged 75% YoY as Consumers Began Shopping Online More Frequently due to COVID

Digital payments in Saudi Arabia surged by 75% last year, as consumers increasingly began shopping online following the COVID-19 outbreak. Meanwhile, cash withdrawals from ATMs and other payment points declined 30% during the same time period. Point of sale (PoS) refers to a location where… Read More

Digital Asset Exchange Gemini Appoints Eugene Ng as Business Dev Head for APAC Region to Work with High Net Worth Investors

US-based digital currency exchange Gemini recently welcomed Eugene Ng as the firm’s new APAC Head of Business Development. Gemini’s management confirmed on January 7, 2021 that they’re pleased to announce that Eugene Ng will be serving as the crypto firm’s Head of Business for the… Read More

Augmentum Fintech Enters DeFi Space Through Investment & Partnership With ParaFi

  Augmentum Fintech plc (LSE: AUGM) announced on Friday it is entering the decentralized finance (DeFi) space through its investment and partnership with ParaFi Capital. Explaining the need to enter the DeFi space, the Augmentum Fintech team stated: “Activity in the DeFi space has gained significant… Read More

UK Finance Reports that £600 Million in Funding was Provided through Topping-Up of BBLS Facilities in 2020

UK Finance, a trade association for the UK banking and financial services industry, has noted that after the extension of government support from November 2020, an estimated £600 million  in funding was provided via the topping-up of current Bounce Back Loan Scheme (BBLS) facilities. Lending… Read More

Netshares Scores Approval by FINRA to Operate as a Broker-Dealer and Crowdfunding Portal

Netshares Financial Services, a U.S.-based digital investment bank and regulation crowdfunding (Reg CF) platform, announced earlier this week that the Financial Industry Regulatory Authority (FINRA) has approved its New Membership Application to commence operations as a registered broker-dealer. Netshares revealed that it will bring offering… Read More

$239 Million was Raised using Reg CF During 2020, this Amount Could Double in 2021

The year of COVID-19 was a difficult time for all. 2020 saw government-mandated lockdowns, a shift to virtual offices, and a health crisis that has not been experienced in many decades. While all industries had to adapt, some thrived – typically tech-centric firms that have… Read More

Broadridge Teams Up With Software Vender SLIB to Launch Shareholder Rights Directive II Solution For French Market

  U.S.-based fintech Broadridge Financial Solutions announced on Tuesday it has joined forces with SLIB, a software vendor in electronic voting and security services based in France, to offer a joint, cross-border proxy voting solution for Shareholder Rights Directive II (SRD II) compliance, covering European… Read More

Dubai and UAE Economy Expected to Grow 4% in 2021, Supported by Financial Services and Nascent Fintech Sector

Dubai‘s economy is projected to grow by 4% this year, driven by the government’s (fairly) effective response to the COVID-19 pandemic. The Dubai government has taken several measures to extend support to local businesses and individuals. It also launched four stimulus packages valued at 6.8… Read More

Monero (XMR), Zcash (ZEC), and Dash (DASH) Cryptocurrency Markets to be Removed from Bittrex by Jan 15

Digital currency exchange Bittrex has announced that Monero (XMR), Zcash (ZEC), and Dash (DASH) cryptocurrency markets will be “removed on Friday, January 15th at 23:00 UTC.” The Bittrex team confirmed that the following markets will be removed on January 15, 2021: BTC-XMR, ETH-XMR, USDT-XMR BTC-ZEC,… Read More

Pakistan’s Central Depository Company Introduces Fintech Platform for Comparing and Investing in Mutual Funds

Pakistan’s Central Depository Company (CDC) has introduced the first Fintech platform in the country that will allow people to compare and invest in different mutual funds with the goal of increasing the share of the mutual fund asset class from 1.6% of the GDP to… Read More

The Time of COVID: The Biggest Fintech Stories of 2020

2020 was a challenging year for the entire world. The ongoing health crisis surprised everyone as the world dove into a pandemic, pummeling the global economy and impacting everyone. In many respects, Fintech emerged as a beneficiary of COVID-19. Digital transformation of financial services were… Read More

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