Fintech News

JULY 21, 2024

The Monetary Authority of Singapore (MAS) has reported that major financial institutions in Singapore experienced minimal or no disruption to customer services and key operations following a global IT system outage. MAS had asked these institutions to report the impact of the outage. The Microsoft-CrowdStrike outage, which began in the early hours of 19 July, affected internal systems across multiple sectors, including finance, healthcare, and logistics, raising concerns about operational contin

Settlement 103

Settlement Cybersecurity Authorization Addressing 103

Payments Dive

JULY 21, 2024

While some community groups spoke in favor of the $35.3 billion merger at the Friday virtual meeting, a raft of critics urged regulators to block the deal.

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Blocks Regulations 78

Fintech News

JULY 21, 2024

Indonesia’s Financial Services Authority (OJK) plans to raise the maximum limit for peer-to-peer (P2P) funding above the current IDR 2 billion cap, specifically for productive funding used for business and economic activities, rather than consumptive funding for personal use. This move is part of a new regulation for Information Technology-Based Joint Funding Services (RPOJK LPBBTI), which is currently in development and incorporates feedback from various stakeholders.

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P2P Caps Consumer Protection Risk Management 100

Finextra

JULY 21, 2024

The Federal Reserve has fined Green Dot $44 million for "numerous" unfair and deceptive practices in the marketing, selling and servicing of its prepaid cards and its tax return preparation payment services.

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Fed Federal Reserve Returns Payments 69

Speaker: Michael Veatch, Senior Director, Implementations & Ella Aguirre, Director of Solution Consulting

Embedding payments can be a transformative step for software companies looking to enhance their platform capabilities, boost customer satisfaction, and drive long-term growth. However, the success of payments hinges on a single thing: implementation. Drawing on real-world insights and experiences, payments implementation experts Michael Veatch and Ella Aguirre will explore actionable strategies that can lead to a transparent, friction-free launch and mitigate potential challenges like technical

Payments

Fintech News

JULY 21, 2024

Airwallex, an Australia-founded financial platform, announced that it has become the first major payments company to be granted an Australian Financial Services License (AFSL) by the Australian Securities and Investment Commission (ASIC) to offer businesses access to retail investment products. This marks an expansion from the AFSL that Airwallex has held since 2016 for its payments and foreign exchange business.

Multi-Currency 97

Multi-Currency Returns On-Demand Product 97

The Fintech Times

JULY 21, 2024

UK financial services firms currently spend over £21,000 per hour fighting financial crime and fraud through onboarding and compliance screening processes, according to the latest True Cost of Compliance report from LexisNexis Risk Solutions. In a study of 254 regulated UK financial services firms, LexisNexis Risk Solutions found compliance costs rose by 12 per cent in 2023, with 95 per cent of firms reporting an increase.

Financial Crimes 64

Financial Crimes Crime Compliance Due Diligence 64

The Fintech Times

JULY 21, 2024

Airwallex , a financial platform for businesses, has been granted an Australian Financial Services Licence (AFSL) by the Australian Securities and Investment Commission (ASIC) to offer retail investment products. This licence is in addition to the AFSL that Airwallex has held for its payments and foreign exchange business since 2016. The new authorisation marks Airwallex’s move into the investment products market and reflects its aim to become a comprehensive financial services platform.

Product 59

Product Multi-Currency Security Returns 59

The Paypers

JULY 21, 2024

Netherlands-based financial service provider Mollie has entered a strategic partnership with JTL to deliver optimised payment options to merchants.

Service Provider 36

Service Provider Payments 36

The Fintech Times

JULY 21, 2024

Lemonade , the US-based digital insurance company driven by AI and social impact, has marked the eighth consecutive year of giving back to a number of local and global charities selected by customers. As part of its ‘2024 Giveback’, Lemonade donated $2,112,608 to 43 nonprofits globally, supporting causes including healthcare, education, climate, global poverty, and animal rights.

Underserved 59

Underserved AI FinTech Posting 59

The Paypers

JULY 21, 2024

Greece-based business software provider Relational has opened a new office in Amsterdam, Netherlands to expand its footprint across Western Europe.

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