How the Wirecard outage has built the business case for multi acquiring
Jul15

How the Wirecard outage has built the business case for multi acquiring

As if the pandemic hadn’t presented enough challenges for both businesses and the payments industry, the recent outages following the issues at Wirecard have created another unscheduled set of problems to overcome, which have this time stretched technical teams to their limit. For those of you who may not be fully aware of the situation, as a result of the £1.7bn alleged accounting fraud at Wirecard, companies that relied on...

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FF Virtual Arena: Coconut Profile
Jul15

FF Virtual Arena: Coconut Profile

In today’s Virtual Arena Coconut will be holding Ali Paterson to account as we will be finding out about how fintechs can revolutionise accounting. Also Sam O’Connor will be discussing the SMB and business banking...

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ACI Worldwide to Deliver Fraud Prevention in the Cloud to All Customers Globally
Jul15

ACI Worldwide to Deliver Fraud Prevention in the Cloud to All Customers Globally

ACI Worldwide, a leading global provider of real-time electronic payment and banking solutions, today announced that ACI Proactive Risk Manager and ACI Model Generator, part of ACI’s Payments Risk Management solution, can now be deployed in a private or public cloud environment by all existing customers globally. The move comes in response to the changing fraud landscape, which has further accelerated during the current Covid-19...

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Salad Money and Yapily tackle high cost lenders with fair and reasonable lending for the NHS
Jul15

Salad Money and Yapily tackle high cost lenders with fair and reasonable lending for the NHS

Ethical fintech Salad Money has today announced its partnership with open banking leader Yapily to provide NHS staff with fair and reasonable loan options.  Recent research conducted by Salad Money found that an overwhelming 80% of its NHS employee applicants are currently looking for ways to get out of their overdraft. Despite working tirelessly to care for the public throughout the pandemic, many are struggling to stay afloat due to...

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New lenders accredited to British Business Bank Coronavirus Business Loan Schemes
Jul15

New lenders accredited to British Business Bank Coronavirus Business Loan Schemes

Today the British Business Bank has announced that it has accredited the Bank of India under the Coronavirus Business Interruption Loan Scheme (CBILS), and Silicon Valley Bank under the Coronavirus Large Business Interruption Loan Scheme (CLBILS). New CBILS lender Bank of India will be able to provide financial support to smaller businesses across the UK that are losing revenue and seeing their cashflow disrupted, as a result of the...

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New Ziglu insurance provides safe and secure access to cryptocurrencies
Jul15

New Ziglu insurance provides safe and secure access to cryptocurrencies

Ziglu, the new cryptocurrency challenger, has launched an insurance programme for customers holding cryptocurrencies, providing greater security and peace of mind. Each Ziglu customer’s cryptocurrency holdings are insured against cyber-crime up to a value of £50,000 at all times and held in a segregated account. The vast majority of customer assets are stored in offline (“cold”) wallets, meaning they are not accessible via...

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Despite COVID-19 Pandemic, ATMIA Reaches Bold Milestone of 350 Companies Participating in Next Gen ATM Future-Proofing
Jul14

Despite COVID-19 Pandemic, ATMIA Reaches Bold Milestone of 350 Companies Participating in Next Gen ATM Future-Proofing

Despite the challenges of the COVID-19 pandemic, ATMIA today announced the 350th company worldwide to join the association’s Consortium for Next Gen ATMs, a global future-proofing project to link millions of ATMs to billions of mobile phones and integrate ATM systems into the mobile-digital world. “We’re overjoyed to reach this bold milestone of 350 companies joining hands to co-create a brand new mobile-digital ecosystem for ATMs and...

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Coconut hits 350% of its crowdfunding target and launches a new accounting service
Jul14

Coconut hits 350% of its crowdfunding target and launches a new accounting service

Coconut, the smart banking, accounting and tax tool aimed at entrepreneurs and small businesses, has raised over £2.4m in its latest crowdfund – beating its target by 350% – and has launched a new service aimed at taking the pain out of filing accounts as part of its new RBS BCR Pool E bid. The speed of the crowdfund shows an extraordinarily strong community and belief by existing and new investors in Coconut’s product and...

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AML specialist SmartSearch breaks into US market
Jul14

AML specialist SmartSearch breaks into US market

Leading UK anti-money-laundering (AML) firm SmartSearch is today launching operations in the USA. Expansion into the US market follows a period of sustained growth that has seen the firm frequently named among the UK’s fastest-growing companies, and a leader in the increasingly important ‘RegTech’ sector. SmartSearch’s unique ‘one-stop’ Know Your Customer (KYC) and AML platform enables clients to perform full electronic ID...

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METACO Raises $17M in Series A Funding Round from Global Financial Services Leaders
Jul14

METACO Raises $17M in Series A Funding Round from Global Financial Services Leaders

METACO, the leading provider of security-critical digital asset infrastructure for financial institutions, today announced a Series A round of $17 million. The round was oversubscribed, with demand over double the initial target, proving continued support from existing investors combined with significant interest from new strategic partners in security technology, central bank infrastructure, Swiss and global banks, and venture firms...

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UK eCommerce Sales Rise 20 Percent in June – Largest Increase Since Start of COVID-19 Lockdown Restrictions
Jul14

UK eCommerce Sales Rise 20 Percent in June – Largest Increase Since Start of COVID-19 Lockdown Restrictions

The UK saw a steep jump in eCommerce sales in June 2020 — up 20 percent compared to June last year, the largest increase since the beginning of the Covid-19 lockdown restrictions, according to an analysis of hundreds of millions of transactions by global payments software company ACI Worldwide. In May UK online sales had increased six percent compared to the same period in 2019. Consumer purchases were driven by DIY and homeware...

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Compose the bank you want to be
Jul14

Compose the bank you want to be

Composable banking enables affordable, fast change so that its proponents can constantly evolve to thrive not just today but tomorrow, writes Eugene Danilkis – Mambu When a new company launches, it’s a rare beast that is fully formed. More usual is for the launch version to feature just the core product, which is added to over time as the company matures. So it is with banking. Over the past few years, we’ve seen first...

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Bibby Financial Services demonstrate support for SMEs with new campaign by AML Group
Jul14

Bibby Financial Services demonstrate support for SMEs with new campaign by AML Group

Bibby Financial Services (Bibby) has launched a B2B campaign created by London-based creative agency, AML Group, that communicates the organisation’s ongoing commitment to supporting SMEs. Accounting for 50% of turnover in the UK private sector and three-fifths of employment, SMEs are the backbone of the UK economy and many are currently weathering unprecedented challenges and need help – and they need that help now. Bibby – as...

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FF Virtual Arena: Open Banking with Banco Sabadell
Jul14

FF Virtual Arena: Open Banking with Banco Sabadell

In today’s Virtual Arena, Banco Sabadell’s Paula Blazquez Solano and Fintech Finance’s Douglas Mackenzie discuss open banking and how banks can continue to innovate in this incredibly unusual...

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How financial services companies can respond now and plan for the future
Jul14

How financial services companies can respond now and plan for the future

Mike Sloman, SVP of business development at Teleperformance The COVID-19 pandemic has disrupted the financial services sector, forcing traditional and online banks to recalibrate their business models and make the unprecedented transition to remote working overnight. At the very time financial organisations had to close all offices and call-centres, they witnessed a surge in call volumes from anxious businesses and members of the...

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Open Banking: a strategic partnership for CRIF and SIA in Italy and Europe
Jul14

Open Banking: a strategic partnership for CRIF and SIA in Italy and Europe

CRIF, a global company providing credit bureau, business information and credit solutions, and SIA, a leading European hi-tech company in payment services and infrastructures controlled by CDP Equity, have signed a strategic partnership agreement to offer advanced Open Banking services and applications in Italy and Europe.  The objective of the agreement is to accelerate the innovation process of banks, corporates and fintechs in the...

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FinTech Connect Presents: DX Connect
Jul14

FinTech Connect Presents: DX Connect

FinTech Connect is bringing the sector 9 hours of digital keynotes and panels over a three day complimentary digital event that will help the ecosystem make sense of what is the ‘new normal’ in financial services. DX Connect Digital will challenge the status quo in financial services and address how players can adapt to the ‘new normal’. We are in a unique period of change where digital transformation is more than just a...

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CPPO Releases First-Ever Canadian Prepaid Heatmap as Industry Reaches Almost $5B in Loads
Jul14

CPPO Releases First-Ever Canadian Prepaid Heatmap as Industry Reaches Almost $5B in Loads

The Canadian Prepaid Providers Organization (CPPO), the collective voice of the open-loop prepaid payments industry in Canada, today released the first comprehensive analysis of the Canadian prepaid landscape, a significant segment of Canada’s growing fintech sector. In collaboration with FinTech Growth Syndicate (FGS), The Canadian Prepaid Ecosystem 2020 captures and analyzes 74 major players in the country’s growing prepaid...

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Auriga, provider of next-gen banking technology, opens its first offices in Spain and Mexico
Jul14

Auriga, provider of next-gen banking technology, opens its first offices in Spain and Mexico

Auriga, an Italian company specialising in omnichannel banking solutions, today announced the opening of two new branches in Spain and Mexico, following its international expansion strategy. The subsidiaries, Auriga Iberia and Auriga Latin América, will manage the integration of Lookwise Device Manager (LDM), the cybersecurity solution acquired from S21sec, into Auriga’s portfolio of omnichannel banking solutions. With this milestone,...

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Barclays helps close the advice gap with launch of Plan & Invest
Jul14

Barclays helps close the advice gap with launch of Plan & Invest

Barclays has launched a new digital advice service to tackle the UK’s advice gap and give more people the confidence and support to invest their savings. The new service, called Barclays Plan & Invest, will create a personalised investment plan that’s tailored to a customer’s goals, with Barclays then managing the investments on their behalf – traditionally known as discretionary portfolio management. Barclays has partnered with...

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BSO expands into South America with 10 new data centre locations
Jul14

BSO expands into South America with 10 new data centre locations

BSO, the global telecoms operator powering the digital age, has officially entered the South American market, marking another milestone in the company’s fast-paced international expansion and once again demonstrating its experience in emerging market connectivity. Michael Ourabah, CEO of BSO, commented: “This is a significant moment for BSO as we strengthen our position in LATAM’s vibrant economy. We have always delivered robust...

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Railsbank partners with The Fintech House
Jul14

Railsbank partners with The Fintech House

Railsbank, the leading global open banking platform, announces that it is partnering with The Fintech House in Portugal. Started in 2017, the first non-profit association in the country, Portugal Fintech, was created by a team guided by their enthusiasm for technology and finance. It has evolved into a network of individuals and companies, from start-ups to incumbents, dedicated to creating the best conditions for the development of...

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If it weren’t for fintech FX would not exist
Jul14

If it weren’t for fintech FX would not exist

– Giorgi Mikhelidze We are all very well aware of the connection between financial technology and the financial markets. All of them are now dependant on the innovations that thousands of developers keep pumping out almost every single year. However, many people have gotten so accustomed to having this type of system that they have forgotten how it actually worked in the past. The scale which we have reached in the 20th century...

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4 Payments Trends Every Merchant Needs To Watch
Jul14

4 Payments Trends Every Merchant Needs To Watch

Payments is a source of innovation, and as with all innovation, the agile, efficient and fast will adapt and thrive while many other merchants will play catch-up and face diminished margins. Rob Lincolne, founder and CEO of PayDock, highlights four trends that merchants must know to stay ‘in front’ of the wave and outpace and outmanoeuvre their competitors   It’s easy to forget that while the concept of exchanging value is old,...

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Paxful celebrates its 5th Year — Reveals Hitting $4.6 Billion USD In Volume and Reaching 4.5 Million Registered Wallets
Jul14

Paxful celebrates its 5th Year — Reveals Hitting $4.6 Billion USD In Volume and Reaching 4.5 Million Registered Wallets

Paxful, a leading peer-to-peer bitcoin (BTC) marketplace that aims to provide financial inclusion around the globe, announced today that the platform has hit $4.6 billion in trade volume and reached 4.5 million wallet registrations. Additionally, as they embark on their 5th year in service, they have released historical data that outlines the progression of peer-to-peer marketplaces over time. Once reputed to be a breeding ground for...

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Finland moves to amplify the use of e-invoices
Jul14

Finland moves to amplify the use of e-invoices

Gabriel Pezzato, Regulatory Counsel at Sovos In April 2020, Finland introduced legislation changing their e-invoicing regulation, effectively granting to B2B buyers the right to request a structured e-invoice from their suppliers. Initiatives that promote the use of electronic invoices are gathering pace across the globe with varying levels of involvement in the process by tax authorities, but with a vast array of different set ups...

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Fintech sector may need to refinance £825m in wake of COVID-19
Jul14

Fintech sector may need to refinance £825m in wake of COVID-19

A new KPMG report out today, Fintech Focus, finds that investors are continuing to take a longer-term view to investing in the sector whist fintechs refocus on resilience rather than scale in the wake of the pandemic. The sector, estimated to be valued at $48.5bn, is still providing attractive investor returns on paper, particularly for early stage investors. The report shows that the median internal rate of return (IRR) on paper for...

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Spain’s Top Cider Makers Tap Telos Blockchain for Supply Chain Transparency
Jul14

Spain’s Top Cider Makers Tap Telos Blockchain for Supply Chain Transparency

Telos, one of the most active blockchain platforms in the world according to Blocktivity and CryptoDiffer, today announced that two of Spain’s largest cider makers are using the Telos blockchain for supply chain transparency. Spanish cider makers Sidra Menéndez S.L. and Llagar Castañón S.L are now using Telos to record the traceability data of their premium cider, allowing consumers to trace the origins of each bottle using the...

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INCUMBENTS, CHALLENGERS, FINTECHS AND BIGTECHS: working together for post-COVID banking success
Jul13

INCUMBENTS, CHALLENGERS, FINTECHS AND BIGTECHS: working together for post-COVID banking success

This article originally appeared on Banking Circle Banking Circle recently hosted a webinar to debate the challenges of the emerging post-COVID world, and how financial services providers can work together for the best results. Featuring a group of experts from incumbent and challenger banks, the live debate was hosted by author, advisor and commentator on digital financial services, David Birch.  As well as discussing life after...

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Enterprise businesses set to lose almost £1m in failed payments annually, reveals GoCardless
Jul13

Enterprise businesses set to lose almost £1m in failed payments annually, reveals GoCardless

Enterprise businesses could lose almost £1m annually in failed payments, with mid-market businesses making losses of £200k+ and small businesses £6k+, according to a new study by GoCardless, the leading fintech for recurring payments. The GoCardless Payment Success Index launched today, analyses payment data from over 55,000 customers and 900 external businesses as a way to benchmark and compare payment success. It highlights the...

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Lanistar agrees £150M valuation with fresh £15M VC funding
Jul13

Lanistar agrees £150M valuation with fresh £15M VC funding

 Lanistar, the hassle free banking alternative set to revolutionise how customers streamline their money, has today announced that it has agreed terms in its latest funding round, raising £15 million. Milaya Capital’s investment sees the VC value Lanistar at £150 million ahead of its winter 2020 launch, after agreeing terms to contribute £15 million in exchange for a 10% stake in the company. The investment will help Lanistar grow its...

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NatWest to Introduce End of Life Digital Planning Tool for Customers
Jul13

NatWest to Introduce End of Life Digital Planning Tool for Customers

NatWest is announcing today the release of a free new digital service, ‘NatWest Plan Ahead’, and will be the first bank in the UK to offer this tool which aims to simplify and consolidate end of life planning for customers. The new tool, available to customers in England and Wales, will offer an online portal asking customers a series of questions about the arrangements in place for the end of their lives in order to help them think...

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Wolters Kluwer Lien Solutions launches iLien For Main Street
Jul13

Wolters Kluwer Lien Solutions launches iLien For Main Street

Wolters Kluwer Lien Solutions has today launched iLien for Main Street – a customizable financial technology solution devoted to helping U.S. lenders optimize their due diligence and lien management efforts when securing loans for small and medium-sized businesses under the Main Street Lending Program (Program). The Program is part of the U.S. Coronavirus Aid, Relief, and Economic Security Act (CARES Act). The Main Street Lending...

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Paysend Global Transfer hits 2 million customer milestone despite COVID-19 slowdown
Jul13

Paysend Global Transfer hits 2 million customer milestone despite COVID-19 slowdown

UK-based FinTech company Paysend today announced that it has reached the 2 million customer mark for its flagship Global Transfers service. Having been founded in April 2017, Paysend has raced to the milestone in just over 3 years, and the company’s growth rate is continuing to increase – the 1 million customer mark was reached in Sept 2019 and 1.5 million recently in March 2020. “Paysend was born with the vision of becoming the...

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ETF Partners announces its new Environmental Technologies Fund  £167m for companies delivering sustainability through innovation
Jul13

ETF Partners announces its new Environmental Technologies Fund £167m for companies delivering sustainability through innovation

London-based ETF Partners has closed its third Environmental Technologies Fund (ETF3) at £167m, to grow the most innovative companies in the UK and Europe that help deliver long-term and sustainable economic prosperity. The announcement comes as Covid-19 has highlighted the urgent need to address one of society’s greatest challenges – climate change, solutions to which can help power a strong economic recovery. Since its launch 14...

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Monese partners with Paysafe to bridge the gap between cash and  digital banking
Jul13

Monese partners with Paysafe to bridge the gap between cash and digital banking

Monese, the banking service that gives people the financial freedom to thrive anywhere, has partnered with leading specialised payments platform, Paysafe, to provide its customers with access to cash services. Paysafe’s eCash solution, Paysafecash, can now be used by millions of consumers to top up Monese accounts directly with cash. Monese already has over 40,000 cash top up locations in the UK – the new partnership boosts the...

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B-North partners with Wiserfunding for SME credit risk assessment
Jul13

B-North partners with Wiserfunding for SME credit risk assessment

B-North, the firm building an SME lending bank for the UK, has chosen Wiserfunding as its risk grading partner. This key element of B-North’s underwriting strategy will help the lender become more confident when assessing the credit profile of SMEs and, consequently, turn customer cases around faster and more accurately than other market participants – whilst also supporting B-North underwriters to make better informed lending...

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FF Virtual Arena: UK Financial Inclusion
Jul13

FF Virtual Arena: UK Financial Inclusion

In today’s Virtual Arena we have a full on Colosseum as Ali Paterson hosts THREE guests from: HooYu, Muniy and PREPAID INTERNATIONAL FORUM LIMITED. Even in the UK there are still countless people with no access to financial services – find out here how fintech can fight for the people who the banks have...

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Staying alert during Covid-19 – the alternative finance sector must watch its back in this time of uncertainty
Jul13

Staying alert during Covid-19 – the alternative finance sector must watch its back in this time of uncertainty

by Jonathan Segal, Partner at Fox Williams Driven by new technologies, the alternative finance sector has evolved rapidly in recent years. It includes some of the most disruptive organisations the finance sector has seen, and has not always avoided controversy. In particular, peer-to-peer lending and crowdfunding have become common terms, giving both individuals and SMEs more choice in their borrowing and investment requirements. Yet...

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Trulioo COO to Highlight Customer Onboarding at Gaming Webinar
Jul13

Trulioo COO to Highlight Customer Onboarding at Gaming Webinar

Trulioo COO Zac Cohen will be discussing the current online gaming environment at a webinar hosted by iGaming Business later this month. Cohen will emphasize the importance of customer onboarding, citing recent research that found that 77 percent of new players evaluate brands based on the quality of their account opening experience. The webinar will also address some of the unique challenges that the gaming industry is facing due to...

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Cashaa Hack: More than 300+ Bitcoin accumulated in Hacker Address
Jul13

Cashaa Hack: More than 300+ Bitcoin accumulated in Hacker Address

We have been notified that one of our employee wallets was hacked and funds were transferred to  14RYUUaMW1shoxCav4znEh64xnTtL3a2Ek.  All the crypto exchanges have been notified about the hacker address to block any Bitcoin coming from it. Investigating agencies including Delhi Police Cyber Crime department are already on the case. Please find the screenshot of the complaint filed with the authorities.  It appears to be a malware...

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Global Banking Innovator ING Joins Global Digital Finance
Jul10

Global Banking Innovator ING Joins Global Digital Finance

Global Digital Finance (GDF), a leading industry association advocating and accelerating the adoption of digital assets, has today announced that global banking giant and blockchain/DLT innovation leader ING has assumed a seat on the GDF Advisory Council and become Co-chair of its Custody Working Group. “In GDF we have found a body that accelerates the adoption of digital assets via the development of conduct standards, digital...

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Experian partners with Global Data Consortium to bolster international customer identity verification
Jul10

Experian partners with Global Data Consortium to bolster international customer identity verification

Experian and identity verification provider Global Data Consortium (GDC) have today announced a new partnership which will transform customer onboarding journeys for both international and new-to-country customers. The agreement enables Experian clients to onboard customers rapidly, as well as strengthening anti-fraud measures and meeting Know Your Customer (KYC) and Anti Money Laundering (AML) compliance requirements. By harnessing...

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The Fintech Fix: Doug finally gets to talk about Video Games
Jul10

The Fintech Fix: Doug finally gets to talk about Video Games

In this week of The Fintech Fix, the world of video games crosses borders and lands into the hot waters of the paytech realm. Also even though Starlings are small, Starling Bank just keeps getting bigger, by how much? Find out here on The Fintech Fix. ​...

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free2 launches first of its kind loan product specially for the over 55s market
Jul10

free2 launches first of its kind loan product specially for the over 55s market

free2, a new financial services brand for the over 55s market, today launches its first product, an unsecured loan which will allow customers to access a new source of funds by using their spare affordable pension income. This new product addresses the market need for a range of different options to raise capital in retirement, without having to put their house at risk, spend savings or drawdown taxable sums from flexible pension pots...

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Railsbank continues global growth launching in US with the first ever Credit Card-as-a-Service
Jul10

Railsbank continues global growth launching in US with the first ever Credit Card-as-a-Service

Railsbank, the leading global open banking platform, has launched operations in the US, won its first customer Unifimoney and appointed Dov Marmor as Chief Operating Officer (COO), North America. Railsbank will offer its complete platform, including Banking as a Service, Cards as a Service and the first-of-its-kind Credit Card as a Service (CCaaS) to fintech and “brand” customers in the US. The new product will encourage increased...

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Callsign Amplifies U.S. Presence with New Executive Advisor Ben Wallach
Jul10

Callsign Amplifies U.S. Presence with New Executive Advisor Ben Wallach

Digital identity leader Callsign announces the continued expansion of its U.S. leadership team with the addition of Ben Wallach as senior advisor. A leader in the cybersecurity and fraud space for more than two decades, Wallach will be joining Callsign to further push market growth, build out more strategic partnerships and to enable inroads into additional key sectors such as government, insurance and retail, alongside Callsign’s...

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ING appoints former Google Compare and Confused.com CEO, Nicolas Weng Kan as the CEO of Yolt
Jul10

ING appoints former Google Compare and Confused.com CEO, Nicolas Weng Kan as the CEO of Yolt

Nicolas Weng Kan, the former CEO of Google Compare and Confused.com, has today been announced as the CEO of Yolt. In this role, Nicolas will be responsible for managing both Yolt, the award-winning smart money app, with 1.5 million registered users and Yolt Technology Services (YTS), the leading open banking provider making over 22 million API calls a week. Nicolas brings extensive experience within the financial services and tech...

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Klarna unveils ‘KlarnaSense’ – A new initiative to encourage smarter shopping
Jul10

Klarna unveils ‘KlarnaSense’ – A new initiative to encourage smarter shopping

Klarna has today launched KlarnaSense, a new initiative to encourage consumers to shop smarter by purchasing the right things, at the right time. Our brains consume and process approximately 11 million pieces of information per second in order to make a decision – all of this subconsciously.  Those decisions are effortless and quick, but far from considered, and can lead to impulse buying. KlarnaSense uses retail psychology to promote...

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Standard Chartered-backed China Bohai Bank to raise US$1.78 billion in Hong Kong IPO
Jul10

Standard Chartered-backed China Bohai Bank to raise US$1.78 billion in Hong Kong IPO

China Bohai Bank, which counts Standard Chartered as one of its founding shareholders, priced its initial public offering late Thursday in a deal that would raise a total of HK$13.8 billion (US$1.78 billion). The IPO priced at HK$4.80 a share, according to a person familiar with the transaction. That was near the bottom of the indicative price range of HK$4.75 to HK$4.98 a share sought by the Tianjin-based lender earlier this month....

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