General News

NatWest to Allow UK Consumers to Set their Own Daily Digital Bank Transfer Limits to Reduce APP Scams

NatWest, a major retail and commercial bank in the UK, will reportedly be letting clients set up their own daily digital bank transfer limits – which should help reduce the potential damage done by authorized payment push (APP) scams. NatWest, Royal Bank of Scotland and… Read More

Hong Kong’s Digital Life Insurance Firm Blue Introduces Campaign for Free Post-Vaccination Protection Until July 31, 2021

Digital life insurance provider Blue has introduced the #WeSupport initiative to offer its clients with free post-vaccination protection from April 8, 2021 to  July 31, 2021. As noted by Blue’s management: “Blue is Hong Kong’s first digital life insurer – in fact we are more… Read More

Digital Onboarding: Over 800,000 Consumers in the Philippines have Registered with Online ID System, PhilSys

Over 800,000 residents in the Philippines have reportedly signed up with the nation’s Identification System (PhilSys) through digital or online registration. This, according to data from the Philippine Statistics Authority (PSA). As reported by Fintech News Philippines, the nation’s government has been asking locals to… Read More

Republican Congressman Reveals Investing in DogeCoin (DOGE) and Making Substantial Gains

Representative Mark Green, R-Tenn., recently became one of the first congressmen to profit on Dogecoin’s (DOGE) meteoric rise. Green reportedly made two purchases of DOGE of $1,000 and $15,000 each (as revealed in public disclosure forms). These digital asset investments added to Green’s extensive cryptocurrency… Read More

x15ventures, a Venture Scaling Initiative by Commonwealth Bank of Australia, Launches Platform for Helping Digital Businesses

x15ventures (x15), which is Commonwealth Bank of Australia‘s venture-scaling division, has introduced a stand-alone or independent platform for helping new digital initiatives and business owners with fulfilling regulatory, risk and compliance requirements – which are part of scaling operations. The “xStack” platform is based on… Read More

MENA Region Wholesale Banking Businesses Getting Lower Multiples from Investors than Non-Bank Entities: Report

Wholesale banking has been undervalued, however, it has provided consistent results during the COVID-19 crisis, according to a recent report from Oliver Wyman and Morgan Stanley. The wholesale and transaction banking report, titled “Striving to Sustain Returns,” reveals that markets and investment banking were significantly… Read More

UK’s Financial Conduct Authority Postpones Implementation of Strong Customer Authentication by Another 6 Months

The UK’s Financial Conduct Authority (FCA) will be postponing the implementation of strong customer authentication (SCA) rules by another 6 months in order to minimize disruption for individual consumers and merchants. First scheduled for release in September 2019, the SCA guidelines – which require a… Read More

Revolut Business to Offer Currency Forward Contracts or FX Forwards in the UK

Revolut Business revealed on Friday (May 21, 2021) that it’s introducing currency forward contracts (FX Forwards) in the United Kingdom. Revolut Business’ FX Forwards will allow firms of any size – from large corporates to single-person businesses – to set future exchange rates via an… Read More

IHS Markit Partners CloudAttribution to Integrate Performance Attribution into thinkFolio Investment Management Solution

IHS Markit (NYSE: INFO), a provider of critical information, analytics and solutions, has partnered with CloudAttribution in order to integrate their performance attribution capabilities into the thinkFolio investment management platform. This latest partnership aims to complement thinkFolio’s business strategy of enhancing flexibility, interoperability and offering… Read More

DeFi Aggregator PlasmaFinance Introduces “Industry-First” Limit Order Functionality for PlasmaSwap

Decentralized finance (DeFi) aggregator PlasmaFinance has introduced what it claims to be an “industry-first” Limit Order functionality for its native DeFi (decentralized or non-custodial) (DEX), PlasmaSwap, which lets users make swaps at “precise” price points, thus enabling “safer, stress-free DeFi trading.” As mentioned in a… Read More

Lithic (Formerly Privacy.com) Raises $43 Million Through Series B Funding Round Led By Bessemer Venture Partners

    Lithic, formerly Privacy.com, a U.S.-based card issuing platform, announced on Thursday it raised $43 million through its Series B funding round, which was led by Bessemer Venture Partners with participation from Index Ventures, Tusk Venture Partners, Rainfall Ventures, Teamworthy Ventures, and Walkabout Ventures…. Read More

Dutch Financial Services Group Rabobank to Spin Off Fintech TreasurUp with Assistance from Australia’s OFX

Rabobank, a Dutch multinational banking and financial services group, has reportedly decided to spin off its TreasurUp initiative via a Series A round with assistance from Australia’s cross-border payments Fintech OFX. Rabobank will still be a shareholder in TreasurUp, while management and TreasurUp’s engineering partner… Read More

Open Banking Excellence, Moneyhub Enterprise, Streeva to Offer QR Code Solution so it’s Easier for UK Charities to Take Donations

Over 25% of UK-based charities have seen their income levels decline in 2020 as the impact of the COVID-19 outbreak and related lockdown measures have negatively affected the nation’s businesses and individual consumers. Almost a third of UK organizations are now concerned regarding their future… Read More

Fraudulent Activities: Which? Requests UK Banks to Release Figures on Percentage of Clients Refunded for Authorized Push Payment Scams

UK-based consumer group Which? has asked local banking institutions and building societies to release figures on the number or percentage of clients they refund for authorized push payment (APP) fraud. APP scams have been increasing during the Coronavirus crisis, with losses reaching almost half a… Read More

Quasi Quantum Tech in Financial Trading being Tested by Toshiba and Dharma Capital

Japanese technology giant Toshiba is reportedly working with Dharma Capital to test out the use of quasi-quantum tech in financial trading. The trial, carried out by Toshiba and Dharma Capital, will look into the effectiveness of high-frequency trading (HFT) strategies for listed stocks in Japanese… Read More

Global Payments Platform Nium Unveils Maritime Payments Solution

    Global fintech infrastructure platform, Nium, announced on Monday the launch of its maritime payments solution. According to Nium, the solution was created to digitize the payments experience for shipping companies, their management, seafarers, and their families.  “The Nium maritime payment solution leverages the company’s… Read More

Swedish Open Banking Fintech Tink Acquires Germany based FinTecSystems

Sweden’s Open Banking Fintech Tink has reportedly acquired German equivalent FinTecSystems. The latest acquisition by Tink should help the firm further expand its business operations across Europe. FinTecSystems aims to offer advanced data analytics, digital or online account checks, account aggregation and also supports Open… Read More

Digital Onboarding Introduced by Land Bank of the Philippines, Clients May Open Savings Accounts Online without Visiting a Bank Branch

The Land Bank of the Philippines has introduced its digital onboarding platform for its clients so they can easily open up a savings account without being required to visit a physical bank location. The State-managed banking institution unveiled its digital onboarding system, called DOBS Mobile,… Read More

Ethereum Smart Contracts will be Supported with Ontology EVM-Integrated Design Nearing Completion: Report

High-performance, high-throughput blockchain developer Ontology (ONT) has published its Weekly Report, ending May 11, 2021. Ontology, which develops digital ID solutions and various other distributed ledger tech (DLT) applications, notes that ONTO and bloXroute announced a partnership to offer ETH “front-running” protection for wallet users… Read More

Fintech Wise Launches Cloud based Educational Project to Address IT, Computer Programming Skills Shortage in Estonia

Fintech Unicorn and stealth bank Wise (previously doing business as Transferwise) is reportedly working on a Cloud-enabled educational project in order to assist with addressing the IT skills shortage in Estonia. Estonia, which is currently home to more than 1,100 startups and 7 unicorns, has… Read More

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