Fintech News

FEBRUARY 7, 2024

Netbank – US$344 million (Series A, Philippines) Filipino banking-as-a-service (BaaS) provider Netbank secured the largest funding round in Southeast Asia (excluding Singapore) last year, raising in May 2023 a US$344 million Series A funding round, data from KPMG and Pitchbook show. Soft Space – US$31.5

FinTech 93

FinTech Online and Mobile Banking Non-Bank On-Demand 93

PYMNTS

OCTOBER 10, 2017

9), found non-cash transactions are growing at a healthy rate — with volumes increasing 11.2 Worldwide, non-cash wholesale transactions initiated by corporates is expected to increase at a CAGR of 6.5 percent between 2015 and 2020 — significantly lower than the 11.2 percent CAGR of non-cash transactions overall.

B2B 49

B2B Cross-Border Non-Bank Payment APIs and Integration 49

PYMNTS

JUNE 12, 2017

According to a report , SBI Group, Bank of America Merrill Lynch and HSBC led the investment, which included more than 40 participants, including R3 members ING, Barclays and UBS. Intel and Temasek Holdings also participated in the fundraising. Since splashing on the scenes in late 2015, the company has grown at a fast pace.

Blockchain 43

Blockchain Non-Bank Participant Advisors 43

PYMNTS

JANUARY 14, 2020

It’s not the first go-around between Visa and Plaid, considering that the payments giant participated in a funding round at the end of 2018 for $250 million, and valued Plaid at a reported $2.6 In one recent example from late last year, The Clearing House released a template designed to help banks link with FinTech firms, and connect to APIs.

FinTech 63

FinTech Payment APIs and Integration Value Added Service Cross-Border 63

CB Insights

DECEMBER 4, 2019

If Amazon can get you lower-debt payments or give you a bank account, you’ll buy more stuff on Amazon.”. Based on our findings, it’s hard to claim that Amazon is building the next-generation bank. In aggregate, these product development and investment decisions reveal that Amazon isn’t building a traditional bank that serves everyone.

Online and Mobile Banking 101

Online and Mobile Banking Push-to-Card Payment APIs and Integration Non-Bank 101

FICO

DECEMBER 13, 2019

Banking is broken and thus any investments in improving it are both notable and noble (even if there are bumps along the way). From their perspective, it’s a competitive moat (based on rules written for a different century) that protects banks’ ability to make money without delivering world-class products and experiences. .

Regulations 52

Regulations FinTech P2P Non-Bank 52

PYMNTS

SEPTEMBER 17, 2018

The fraudsters who hacked their way into the Bangladesh central bank two years ago got there by getting into software tied to the SWIFT financial platform. The Bangladesh Bank Hack. Phishers caught a big one — any way it’s sliced, $81 million is a big haul. The way they got there?

SWIFT 75

SWIFT Phishing Ransomware Central Bank 75

PYMNTS

MAY 11, 2017

Several major banks, including Citi and Standard Chartered, recently launched their own APIs to help their various clients access each banks’ financial toolsets to address their individual needs. Bank, host hackathons to motivate the developer community to build these tools. Bank’s “Think Big, Hack Small” hackathon.

API 57

API Payment APIs and Integration Online and Mobile Banking Small Business 57

PYMNTS

MAY 1, 2017

The Bank/Blockchain Break-Ups. It’s been a rough week for the relationship between banks, bitcoin and the blockchain. Three major blockchain exchanges — Bitfinex, OKCoin and BTC-e — have all separately reported that they’ve been unable to process transactions in dollars as global banks are pulling out of high risk areas.

Bitcoin 46

Bitcoin Blockchain Non-Bank Wires 46

Fintech Labs Insights

DECEMBER 30, 2016

Still, how hard would it be to throw a couple non-denominational snowflakes on top of your logo and wish everyone a happy holiday? In our annual holiday survey of the 25 largest banks, we found only two, PNC Bank and Key , that acknowledged the year-end holidays on their homepages. ———-. 2016 Holiday Messages.

Non-Bank 20

Non-Bank Credit Union Community Banks Participant 20

CB Insights

FEBRUARY 1, 2019

Indonesia features the largest ($27B in 2018) and fastest-growing (49% CAGR 2015-2018) internet economy in Southeast Asia, according to a study by Google and Temasek. Non-life insurance is driven by property insurance and motor insurance, with the two accounting for 54% of the general insurance market. Life insurance hit $12.6B

Online and Mobile Banking 61

Online and Mobile Banking Small Business Non-Bank Economy 61

PYMNTS

MAY 17, 2016

The roster this time around, in the second round of financing logged by the company, was led by Canaan Partners, with participation from Nyca Partners and XL Innovate, and a debt facility provided by Silicon Valley Bank. million from a series of investors.

Non-Bank 40

Non-Bank Risk Management Consulting Risk 40

PYMNTS

DECEMBER 27, 2016

All these transactions involve large, cross-border payments, which are typically complex, non-transparent and fraught with challenges for both the payer and payee. Speed is important, but it is not the only driver for participants in these transactions. colleges and universities alone in the 2015–2016 academic year.

Cross-Border Payments 45

Cross-Border Payments Cross-Border Payee Payer 45

FICO

DECEMBER 21, 2016

Many banks get so many alerts today about suspicious activity that they can’t prioritize their efforts. Today, it’s really only Tier 1 banks that use analytics in AML, KYC and tax compliance areas. The European bank offshoot in Paris properly blocked this SWIFT transaction with our Siron solution.

Compliance 45

Compliance Financial Crimes Crime Money Laundering 45

Fintech News

MARCH 26, 2024

The World Bank flagged in October 2023 that the region’s burgeoning economies would decelerate to 4.5% It offers a range of services including a white-label payment gateway for banks and institutions, and an all-inclusive payment gateway solution for merchants. #4

FinTech 98

FinTech APACS Payment APIs and Integration Multi-Currency 98

PYMNTS

FEBRUARY 13, 2017

population and also advertises a simplified returns process for participating merchants. Speaking of responding to feedback… Bank Of America And The Automated Branch. In an attempt to build banking and financial services products for literally everyone, Bank of America is experimenting with a fully automated branch design.

Automation 49

Automation Credit Union Breach Compromise 49

PYMNTS

MARCH 17, 2016

In July 2015, we witnessed the U.K. Those data points show just how fascinating this realm will be to monitor and participate in in the near term. PYMNTS: With the advent of mobile banking features, it seems that consumers will be likely to want to self-manage and control specific functionalities of their cards.

Mobile Payments 41

Mobile Payments Payments P2P Contactless Payments 41

PYMNTS

MARCH 24, 2016

regulatory and policy changes that now allow Cubans and non-Cubans to move money to the island nation. 70 Percent | The Market Share UnionPay Has Of The Bank Card Companies In China. Huawei was the biggest player in the Chinese smartphone market, with a 15 percent share at the end of 2015. Apple nipped at those heels, at 14.6

Online and Mobile Banking 44

Online and Mobile Banking PayPal Mobile Payments Push-to-Card 44

Fintech News

JULY 23, 2024

The list, produced by CNBC in collaboration with market research firm Statista, highlights the world’s top 250 fintech companies across eight market categories: payments, wealthtech, business process solutions, neobanking, alternative finance, financial planning, digital assets and banking solutions. billion (US$4.4

FinTech 125

FinTech Online and Mobile Banking Multi-Currency Non-Bank 125

CB Insights

AUGUST 1, 2017

across 3 funds, participated in roughly 207 deals to 131 companies, and invested in several unicorn startups ($1B+ valuation), including Slack , Flatiron Health , SurveyMonkey , Box and Yammer (as of 7/3/17). Since officially launching in 2011, Social Capital has participated in 207 equity investments totaling $2.99B (as of 7/1/17).

Participant 34

Participant Online and Mobile Banking Acquirers On-Demand 34

CB Insights

AUGUST 23, 2018

trillion in total assets, JPMorgan Chase is the largest bank in the US. Its retail bank, Chase, spans 61 million American households. Led by Chairman and CEO Jamie Dimon, the bank is undergoing a transformation, moving away from offline legacy systems and into the digital age. Live briefing: Consumer Banks in The Digital Age.

Consumer 76

Consumer Online and Mobile Banking Credit Cards Push-to-Card 76

Finovate

MAY 10, 2024

based challenger bank Monzo secured an additional $190 million (£150 million) in funding this week, adding to the $426 million (£340 million) raised just a few days ago. The Series I round, totaling $616 million (£490 million) gives the digital bank a valuation of $5.2 Challenge Accepted! Monzo Raises Millions U.K.-based billion (£4.1

Non-Bank 59

Non-Bank Payments FinTech Agreements 59

Fintech Labs Insights

SEPTEMBER 28, 2016

Enthusiasm for the PoC was widespread among the participants. “This partnership with R2 members, non-members and Synaps has gone a long way in demonstrating that distributed ledger technology can significantly benefit the syndicated loans market.” Bank Capital Markets. Danske Bank. Scotiabank. State Street.

Blockchain 18

Blockchain Non-Bank Cryptocurrency Participant 18

Fintech Labs Insights

NOVEMBER 16, 2016

Leveraging the power of technology to make raising capital in the bond market easier and more efficient for large companies is the goal of Overbond , the Toronto-based startup launched in 2015. Founded in 2015. trillion industry is far from state of the art. ” Company facts. Headquartered in Toronto, Ontario, Canada.

Technology 17

Technology Issuers Origination Process 17

FICO

JANUARY 15, 2021

Sally notes that analysis of FICO® Resilience Index data by Tom Parrent, former chief risk officer for Genworth Financial, shows that from 2010 to 2015, nearly 600,000 additional mortgages could have been originated to consumers with FICO® Scores between 680 and 699, had the FICO® Resilience Index been available to lenders at the time.

Posting 59

Posting Agreements Credit Cards Consumer 59

Fintech Labs Insights

JANUARY 12, 2017

IBM’s “blockchain-as-a-service” strategy incorporates many of the company’s core technology projects including its Watson Internet of Things platform and its development lab, Bluemix Garage – as well as its core IT system for global banks, IBM z System. We’re a bit more opinionated on what fabric is needed.”

Blocks 21

Blocks Blockchain FinTech Cross-Border 21

Fintech Labs Insights

OCTOBER 30, 2020

The two finalists* were FinMkt ( founded in 2011 ), and non-profit fundraising platform Goodworld , ( founded 2014, raised $3.4M ). When the competition was announced pre-pandemic, there was talk of a $25k cash prize as well as potential investments of $250k from participating VCs. Subscription Banking: Revolut Launches Freemium Model.

FinTech 15

FinTech Participant Non-Bank Finance 15

CB Insights

OCTOBER 31, 2019

Commercial Banking: How JP Morgan’s chatbot saves the company 360,000 hours a year. At the most rudimentary end of the spectrum, there are the bots that banks use to prompt callers through a phone tree, telling them to say “yes,” “no,” “check my balance,” etc. The rise and fall of chatbot hype: How the bubble burst.

Bots 78

Bots Legal Online and Mobile Banking Research 78

Fintech Labs Insights

JULY 7, 2016

Accredited investors can invest in single company funds, syndicated funds, and portfolio funds while non-accredited investors can participate in national deals that fall under Regulation D of the JOBS Act. ” Company facts: Founded in 2015. Non-accredited Investors. Headquartered in Birmingham, MI. Franchisor.

Accreditation 15

Accreditation Non-Bank Participant Underwriting 15

Fintech Labs Insights

OCTOBER 10, 2016

Just a month ahead of our return to the Far East for FinovateAsia we learned today that Singapore-based Alpha Payments Cloud is partnering with RS2 Software to bring key financial and non-financial services to banks in Thailand via a single integration.

Payment APIs and Integration 18

Payment APIs and Integration Fraud Prevention Payments Non-Bank 18

CB Insights

OCTOBER 6, 2017

For example, Google open sourced its TensorFlow machine learning library in 2015, and hundreds of users have contributed back to it and sought to improve it. In Q3’17, it participated in a $20M seed round to Canada-based Kinova Robotics , which focuses on industrial service robots. Foxconn has also backed external robotics startups.

AI 69

AI Risk Automation On-Demand 69

CB Insights

MAY 15, 2019

DBS Bank — DBS Asia X (DAX). DBS launched its Singapore innovation lab to break out of its “traditional banking mindset to think, behave, and deliver more like a technology company,” according to Neal Cross, chief innovation officer. Notable projects: Fidelity Charitable is a public charity that accepts non-cash financial assets.

Innovation 78

Innovation Finance Online and Mobile Banking Blockchain 78

Fintech News

JANUARY 3, 2024

Founded in 2015, PhonePe dominates transactions on the Unified Payments Interface (UPI), India’s instant payment system, processing over eight million transactions a month. Krom Bank Indonesia is the group’s bank entity and operator of the soon-to-be-launched Indonesian neobank, Krom.

APACS 98

APACS FinTech BNPL Small Business 98

CB Insights

OCTOBER 10, 2017

Acorns’ rock-bottom customer acquisition costs as driven by non-viral referral. For the non-exited companies — Robinhood, Acorns, Stash, and Credit Karma — we looked at which apps had the highest rates of user growth and what’s driving expansion. bank accounts. debit & credit cards. income information.

Finance 78

Finance Online and Mobile Banking Product Checks 78

FICO

DECEMBER 15, 2020

Since the FCC’s 2015 broad definition of Automatic Telephone Dialing System (ATDS) was struck down by the DC Court of Appeals, a steady stream of class action lawsuits have resulted in a number of conflicting decisions and a split among the courts. Even by Washington standards, this bill is massive topping 4,500 pages.

BSA 52

BSA Financial Inclusion Suspicious Activity Report (SAR) AML 52

CB Insights

JUNE 17, 2020

As more people have worked, learned, banked, exercised, relaxed, and even sought medical care from home during Covid-19, they have gotten a crash course in just how much can be accomplished at home. Branchless banking. BANKING, HEALTHCARE, RETAIL SECTORS LIKELY TO EXPERIENCE SIGNIFICANT GROWTH IN CHATBOT USE. Cloud call centers.

Posting 101

Posting Technology Online and Mobile Banking On-Demand 101

CB Insights

OCTOBER 25, 2018

Lloyds Banking Group used virtual reality to assess candidates for its Graduate Leadership Programmes — tasking recruits with solving puzzles in a VR environment to determine whether they display the “strengths and capabilities required of the Group’s future leaders.”. Engineering.

Law Enforcement 78

Law Enforcement Assessments Technology Research 78