Wed.Apr 17, 2024

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CFPB $8 late fee cap edges toward reality

Payments Dive

Despite an industry-backed lawsuit seeking to stop the Consumer Financial Protection Bureau’s new $8 late fee rule, bank card issuers are bracing for potential implementation.

Caps 161
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UK Finance Taps R3 and Quant for Blockchain Prototype to Advance Digital Payments Infrastructure

The Fintech Times

The UK’s Regulated Liability Network has chosen R3 , a company specialising in enterprise distributed ledger technology and services, as well as Quant , a blockchain provider for finance, to develop the technology prototype for its experimental stage. This initiative, spearheaded by UK Finance and backed by EY , aims to advance regulatory solutions within the financial sector.

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Ramp raises another $150 million co-led by Khosla, Founders Fund at a $7.65B valuation

TechCrunch Fintech

Spend management startup Ramp has raised another $150 million at a post-money valuation of $7.65 billion, the company confirmed to TechCrunch today. New investor Khosla Ventures and existing backer Founders Fund co-led the raise, which also included participation from new backers Sequoia Capital, Greylock and 8VC. Other existing investors Thrive Capital, General Catalyst, Sands Capital, […] © 2024 TechCrunch.

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Blair Institute sets out 'progressive vision' for fintech

Finextra

If it wins the upcoming UK general election, the Labour party must harness the fintech sector as an engine for economic growth, opportunity and inclusion across the country, says a report from the Tony Blair Institute for Global Change.

FinTech 118
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From Start to Scale: Driving Growth Through Seamless Payments Implementation

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

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Inside LemFi’s play to be fintech to the Global South diaspora

TechCrunch Fintech

The African tech ecosystem, buffeted by huge potential but also lots of economic, political and social instabilities, is no stranger to major drama affecting even its most promising-looking startups. But recently, LemFi, the Nigeria-based fintech that provides money transfer services to African migrants, is shaping up as an example of a bounce-back — and a […] © 2024 TechCrunch.

FinTech 129
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Thai PM Launches Digital Wallet to Disburse US$14 Billion in Q4 Economic Stimulus

Fintech News

Prime Minister Srettha Thavisin has officially launched a new digital wallet scheme in Thailand aimed at benefiting approximately 50 million citizens to energise the country’s economy. Initial reports indicated that the launch would be in May. According to Thailand Business News , the programme is set to disburse 10,000 baht (around US$275) to each eligible Thai adult through a digital wallet in the fourth quarter of this year.

Economy 121

More Trending

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What Impact is Embedded Finance Having on the Gig Economy?

The Fintech Times

This April, The Fintech Times is focusing on all things embedded finance, the integration of financial services into non-financial products and services. As the space rapidly develops, we look to highlight the latest developments, initiatives and challenges embedded finance has to offer and overcome across the globe. The gig economy sees workers paid for the ‘gigs’ they do, often via digital platforms, such as offering food delivery or taxi services – made highly popular by

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Join BVNK, Chainalysis, FIS, Worldpay and more on 22 May for Currency LDN as we look at how the industry is bridging banks and blockchains

The Payments Association

We’d like to invite fellow Payments Association members to join BVNK and guests including Chainalysis, FIS, Worldpay and more on 22 May for Currency LDN, as we look at how the industry is bridging banks and blockchains. Expect an afternoon of lively sessions, showcasing fintech innovations and discussing the future of money movement, followed by networking.

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Balancing UX and Security in Recurring Payments

Basis Theory

Merchants wishing to offer secure payment solutions for customers may find themselves at an impasse: their payment flows may require additional steps to become compliant, but this is to the detriment of the user experience. Should they lean into more clunky “secure” flows and hope their customers will understand?

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10 Robo Advisors Democratising Digital Investing in the US$1.5B Singapore Market

Fintech News

Robo advisors have emerged as a game-changer in Singapore, transforming the way Singaporeans approach investment and wealth management. These digital platforms harness the power of algorithms and cutting-edge technology to provide personalised investment advice and portfolio management services, making investing more accessible and cost-effective than ever before.

Advisors 116
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15 Modern Use Cases for Enterprise Business Intelligence

Large enterprises face unique challenges in optimizing their Business Intelligence (BI) output due to the sheer scale and complexity of their operations. Unlike smaller organizations, where basic BI features and simple dashboards might suffice, enterprises must manage vast amounts of data from diverse sources. What are the top modern BI use cases for enterprise businesses to help you get a leg up on the competition?

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Fintech startup Mercury, which is under regulatory scrutiny, expands into consumer banking

TechCrunch Fintech

Business banking startup Mercury, founded in 2020, is now launching a consumer banking product. Mercury today serves more than 100,000 businesses, many of which are startups, via its B2B practice. The expansion is a natural move for the company and one that has been in the works for a couple of years, according to Immad […] © 2024 TechCrunch. All rights reserved.

Consumer 103
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Fed keeps up CBDC research

Payments Dive

Despite political opposition to a potential U.S. central bank digital currency, research staff at the central bank continue to study the possibility.

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Building the Future: An Interview with Alex Savin of Chrome Capital

Fintech Review

Fintech Review sat down with Alex Savin, Founder of Chrome Capital , to delve into the transformative impact of international tech investments on global markets. We discuss the strategic role of digital technology in enhancing societal benefits, address concerns about the sustainability of such investments, and examine significant trends shaping the future of fintech.

AI 98
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Financial Sector Dominates LinkedIn’s ‘Best Workplaces’ in Singapore

Fintech News

LinkedIn has released its Top Companies list for 2024 , identifying the 15 best workplaces for career growth in Singapore. Financial institutions dominate this year’s rankings, emphasizing the sector’s focus on employee experience and adaptability in integrating artificial intelligence. The analysis, powered by proprietary LinkedIn data, evaluates companies on factors crucial to career advancement, including promotion rates, skill development, and company stability.

Visa 105
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eCommerce in 2025: How Customer Experience Drives Online Retail Success

Speaker: Jennifer Wright and Nick Barron

2025 is right around the corner, and with it comes a new wave of consumer expectations, competitive pressures, and operational challenges. Success lies in finding the balance between operational flexibility and creating experiences that keep customers coming back. The future of retail belongs to those who can stay ahead of shifting customer preferences and marketing trends. 🔮 In this session, we’ll dive deep into what it takes to keep customers engaged and your operations nimble, no matt

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NAB to offfer a year of free cyber security software to business customers

Finextra

NAB is urging Australian small businesses to enhance their cyber security, today announcing it will offer a year of free cyber security software to business customers.

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Singapore Pledges S$35 Million in Sustainable Finance Skills Development

Fintech News

The Monetary Authority of Singapore (MAS), in collaboration with the Institute of Banking and Finance (IBF) and Workforce Singapore (WSG), has launched the Sustainable Finance Jobs Transformation Map (JTM). This initiative outlines the necessary skills updates for the local financial services sector due to increasing sustainability trends. MAS has identified 20 unique job roles as high priority for upskilling.

Finance 102
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Ways Loan Management Software Accelerate Transparent Lending

Finezza

Ever wonder how India’s banking systems got so high-tech? From the first ATMs in the 2000s to today’s cutting-edge innovations, India’s financial landscape is transforming at breakneck speed. Government initiatives and fintech breakthroughs are fueling this revolution, making banking more efficient, inclusive, and transparent for everyone.

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Future of Payment Review: six-months on – Digital Payment Infrastructure

Finextra

Joe Garner’s Future of Payment review published in 2023 on behalf of the UK Government reflected the.

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7 Essential Criteria for Choosing the Right Payments Partner

Speaker: Brad Pinneke, VP of Business Development at Payrix and Worldpay for Platforms

In this webinar, Brad Pinneke, Vice President of Business Development at Payrix and Worldpay for Platforms, will dive into the 7 must-have criteria for evaluating payments partners, helping you maximize both efficiency and the long-term value of your investment. From assessing technology capabilities to leveraging business development opportunities, this session will give you a clear, actionable strategy to select the right partner for scaling your business.

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Transactions: BNY Mellon, Accenture team up to boost data and analytics services

Bank Automation

BNY Mellon has selected technology services provider Accenture to enhance the bank’s data and analytics services. The bank will use Accenture’s AI and data expertise to introduce new services and create new client experiences, according to an April 15 release.

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Bitcoin Halving 2024: Will Mining Still Be Worth It?

Paystand

This article was written as a special piece by Humberto Aguilar, Paystand's Director of Engineering in Engineering Operations.

Bitcoin 94
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Canada set for open banking legislation

Finextra

The Canadian government has promised open banking legislation by the end of the year and confirmed that the Financial Consumer Agency of Canada (FCAC) will oversee the new system.

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Top ISV Companies that Integrate Payments [2024 List]

Stax

Companies and software providers that embed payment solutions into their services and platform are likely to attract and retain more customers. By using a cloud-based integrated payment software solution, you can provide a streamlined user experience while also earning an additional revenue stream through monetization. To access these functionalities, most companies work with an independent software vendor (ISV) partner, which essentially is a software company or app that works with another ISV

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Loyalty 101: How To Turn Browsers Into Buyers For Lasting Engagement

Speaker: Shaunna Bruton, Danielle Wyllie, and Kailey Holmes

Say goodbye to one-size-fits-all retail, and say hello to experiences that keep your customers coming back for more! Customer loyalty isn’t just earned - it’s cultivated through meaningful engagement with the help of data. This webinar will take you behind the scenes of how top retailers turn customer data into personalized experiences that drive engagement and retention.

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Jamie Dimon has a new vision for money in an AI world

Bank Automation

JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon makes no secret that his firm is all-in on artificial intelligence. Now, the head of the world’s biggest bank is laying out his vision for the future of money in an AI world.

AI 75
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EverBank signs with Backbase

Finextra

Backbase, the global leader in Engagement Banking, announces its collaboration with EverBank, a nationwide provider of high-value financial services to consumer and commercial clients, to support the bank’s ongoing digital transformation.

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Starling Engine Goes Abroad for the First Time in Romania With Salt Bank

The Fintech Times

Starling Bank , the UK-based neobank, has successfully launched its Engine abroad for the first time as a result of a partnership with Romanian-based bank, Salt Bank. Onboarding 100,000 Romanian customers, the new partnership aims to disrupt the banking sector in Romania. With downloads coming in thick and fast, Salt Bank aims to reach a million customers in three years.

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Revolut releases Financial Crime and Consumer Security Report

Finextra

Revolut, the global financial app with more than 40 million customers worldwide, has today announced the release of its first Financial Crime and Consumer Security Report, containing exclusive scam and fraud insights.

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Enhance Customer Value: Unleash Your Data’s Potential

The complexity of financial data, the need for real-time insight, and the demand for user-friendly visualizations can seem daunting when it comes to analytics - but there is an easier way. With Logi Symphony, we aim to turn these challenges into opportunities. Our platform empowers you to seamlessly integrate advanced data analytics, generative AI, data visualization, and pixel-perfect reporting into your applications, transforming raw data into actionable insights.

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Wealthtech, Open Banking, and Personalization: 3 Conversations from FinovateEurope

Finovate

Our series on conversations with fintech experts from FinovateEurope continues this week. Today we feature three interviews I conducted with fintech professionals innovating in some of the more interesting areas of our field: a discussion with everyoneINVESTED’s Jurgen Vandenbroucke on the challenge of embedding emotion into financial technology a conversation with BBVA’s Jose Luis Navarro on open banking and the future of financial services an interview with Katharina Lüth , Chief C

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Everybody in the room: Moving fintech forward

Finextra

Lou Smith, Chair of Innovate Finance, discusses fintech's evolution in the past decade and its impact on consumer behaviour and industry collaboration. From challenger banks to widespread fintech app usage, we examine transformative trends like Open Finance, and amidst the challenges 2024 brings both nationally and internationally, we highlight opportunities for sustainable growth, charting a course towards fintech's fruitful future.

FinTech 69
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AI’s Future in the UK With Innovation and Responsibility Taking Centre Stage

The Fintech Times

With strategic investments and a commitment to fostering innovation while prioritising responsibility, the UK is positioning itself as a powerhouse in the global artificial intelligence arena. The UK AI market is valued at over $21billion and is estimated to grow to over $1trillon by 2035. It is the third largest AI market in the world after the US and China ,while UK AI startups currently produce over £2 billion in gross revenue and are estimated to employ almost 38,000 people.

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Danish POS startup Flatpay raises €45 million

Finextra

Danish fintech POS startup Flatpay has moved into Unicorn territory with a €45 million investment led by Dawn Capital with participation from Copenhagen's Seed Capital.

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Top Strategies to Future-Proof & Sustain Your Merchant Services Portfolio

Build a sustainable merchant services portfolio with practical strategies to ensure long-term success. Diversify across industries to spread risk and stabilize income, balancing high-risk and low-risk clients for a robust mix. Combine large and small merchants to create a resilient payment portfolio, leveraging each type's strengths. Foster long-term relationships through exceptional service and personalized support.