Tagged: financial services

November 13, 2023 @ 2:42 pm By Omar Faridi  |  

Shieldpay, the firm focused on complex high-value B2B digital payments, has announced the appointment of Diji Adu as Chief Technology Officer. Adu, formerly Director of Technology at Shieldpay “brings over 20 years of leadership and software development experience to his new role.” Prior to joining… Read More

November 13, 2023 @ 8:52 am By Omar Faridi  |  

A growing number of British investors risk being defrauded by a wave of fake adverts posted on social media, according to a new a warning issued by Lloyds Bank. The number of cryptocurrency investment scams reported1 “by victims so far this year has risen by… Read More

November 13, 2023 @ 8:22 am By Omar Faridi  |  

The UK’s Financial Conduct Authority (FCA) says it is working with payment service providers to do more “to protect consumers from fraud, including authorized push payment (APP) fraud.” While FCA‘s review of firms’ fraud controls and complaint handling found examples of good practice, they were… Read More

November 13, 2023 @ 8:07 am By Omar Faridi  |  

Wise (LSE:WISE) has reportedly been forced to place a freeze on onboarding new business clients across the United Kingdom and Europe because of “high demand” for services. This latest update comes after the Fintech firm had “deactivated” all US business cards this past week. Wise,… Read More

November 12, 2023 @ 1:15 pm By Omar Faridi  |  

Monument Bank is pleased to announce the successful completion of our Series B, raising $50 million (£40+ million). According to Monument Bank, the successful closure of this funding round “not only reaffirms their vision but also highlights Monument’s substantial and resilient growth amid persistent environmental… Read More

November 11, 2023 @ 7:03 pm By Omar Faridi  |  

DTCC, the market infrastructure for the global financial services industry, announced the launch of DTCC’s OTC Direct Connect, a service providing seamless access to OTC derivatives transactions data that are reportable in the U.S. and Canada. With OTC Direct Connect, investment professionals, data vendors, and… Read More

November 11, 2023 @ 6:22 pm By Omar Faridi  |  

Maybank announced the expansion of its cross-border QR Pay service to China, one of the first in the market for a Malaysian bank, amplifying Maybank’s existing cross-border payment capabilities and enhancing the ease and efficiency of financial transactions. This initiative aims to benefit over 8… Read More

November 11, 2023 @ 3:22 pm By Omar Faridi  |  

Bank of America (NYSE: BAC) is seeding a second round of financing for Veteran Loan Fund, doubling a two-year-old commitment that has already funded more than 500 small businesses built by former military personnel that “have created or retained more than 3,000 jobs across 37… Read More

November 11, 2023 @ 12:45 pm By Omar Faridi  |  

Cost cutting is said to be behind a significant drop in satisfaction levels in 2023, according to a comprehensive update shared by KMPG. The UK’s biggest brands are turning “to artificial intelligence (AI) to develop better customer and colleague experiences,” according to KPMG’s latest Customer… Read More

November 11, 2023 @ 11:13 am By Omar Faridi  |  

Chargebacks911 and Fi911, the global firm focused on chargeback management technology, has reaffirmed its support of continued discussion “around strategies to reduce the likelihood of friendly fraud, such as the Federal Trade Commission’s (FTC) proposed ‘click-to-cancel’ provision to its 1973 Negative Option Rule.” The provision… Read More

November 10, 2023 @ 3:07 pm By Omar Faridi  |  

Alkami Technology, Inc. (Nasdaq: ALKT), a cloud-based digital banking solutions provider for financial institutions in the U.S., announced today that it has enabled its financial institution clients to benefit from direct application programming interface (API) access to Plaid, a data network powering over 8,000 popular… Read More

November 10, 2023 @ 10:03 am By Omar Faridi  |  

Swan, the European firm supporting embedded finance, opens its first office in the Netherlands, and launches localized Dutch accounts, “as part of its continued European expansion.” The launch is part of the company’s European hyperlocalization strategy, “following a successful launch in Spain earlier in the… Read More

November 9, 2023 @ 10:50 pm By Omar Faridi  |  

PhonePe recently announced that it has crossed 500 million lifetime registered users on its platform. With this milestone, 1 in 3 Indians are now on PhonePe, the Fintech firm claims. The company is the first Indian Internet company to “have reached this scale globally.” This… Read More

November 9, 2023 @ 10:46 pm By Omar Faridi  |  

Clear Junction, a firm focused n cross-border payments solutions for regulated institutions, has announced the launch of its new Confirmation of Payee (CoP) service. Available for clients receiving GBP payments in the UK, the new service “will boost the security of these transactions amid the… Read More

November 9, 2023 @ 10:45 pm By Omar Faridi  |  

American Express (NYSE:AXP) announced that American Express Business Checking is now available to any eligible U.S. small business, “offering a digital banking experience with no monthly maintenance fees, 24/7 service, and the ability to earn and redeem Membership Rewards points with select travel partners and… Read More

November 9, 2023 @ 10:39 pm By Omar Faridi  |  

The Bank of London announced the appointment of Frankie Woodhead as Chief Product Officer, effective immediately. In his role, Frankie will “oversee product vision, development and delivery across the UK Bank and Group.” Frankie joins the bank “with 15 years of senior leadership experience across… Read More

November 9, 2023 @ 11:18 am By Omar Faridi  |  

Following a “strong” year of growth, global fintech platform Airwallex has recently  announced business highlights in Singapore. In the first half of 2023, Airwallex Singapore “saw 13x growth (1213%) in year-on-year revenue and more than 11x growth (1015%) in total transaction volume as businesses in… Read More

November 8, 2023 @ 5:18 pm By Omar Faridi  |  

Volante Technologies, the firm focused on cloud payments modernization, announced that it has secured $66 million in debt and equity financing in an investment round “led by Sixth Street Growth, the technology growth investing arm of Sixth Street, with participation from Wavecrest Growth Partners and… Read More

November 8, 2023 @ 5:16 pm By Omar Faridi  |  

Black Ore, an AI platform for financial services, launched today and announced $60 million in financing led by a16z and Oak HC/FT. The company plans to use the funds from the investment round to onboard new customers, “grow its team, and accelerate the development of… Read More

November 8, 2023 @ 2:51 pm By Omar Faridi  |  

BMO announced the launch of its digital Real Financial Progress Hub, a resource that allows customers to easily access personal finance advice and guidance, as well as tools and resources to “reach their own specific financial goals.” In addition to helping customers budget and set… Read More