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106

Meniga signs deal with IberCaja

Meniga, the global leader in digital banking solutions, has announced today that it has signed an agreement with the Spanish banking giant, IberCaja. (more…)

Banks, Global trends, Hotnews

November 21, 2017

129

BNP Paribas picks Fenergo for client lifecycle management

Fenergo, the industry standard for Client Lifecycle Management (CLM) solutions for Corporate & Institutional, Business & Commercial, and Private Banks, has today announced a signed deal with BNP Paribas. (more…)

Banks, Fintech news, Global trends, Hotnews

November 21, 2017

103

Monzo plans crowdfunding push to deepen ties with customers

By Hannah Murphy for Financial Times

Banking app Monzo is planning to launch one of the UK’s largest crowdfunding efforts next year to give customers in the fast-growing bank what it calls “a greater share of ownership”. Tom Blomfield, chief executive, said the start-up, which raised £71m in a private equity fundraising earlier this month, intends to make a further cash call of between £10m and £30m in 2018. (more…)

Banks, Crowdfunding/investing, Hotnews, Mobile-first banks

November 21, 2017

155

PayPal sells US consumer loans to Synchrony Financial

By Paypal

PayPal Holdings, Inc. (NASDAQ: PYPL) and Synchrony Financial (NYSE: SYF) today announced an agreement to significantly expand their strategic consumer credit relationship. Under the terms of the transaction, Synchrony Financial will acquire $6.8 billion in receivables, including PayPal’s U.S. consumer credit receivables portfolio, which totaled approximately $5.8 billion in receivables as of October 31, 2017, and approximately $1 billion in participation interests in receivables held by certain investors and a chartered financial institution. (more…)

Deals, Global trends, Hotnews, Payment processors/providers/gateways

November 18, 2017

227

Switzerland-Based Fintech Crealogix Announces Asia/Pacific Region Expansion

On Wednesday, Switzerland-based CREALOGIX announced it is expanding business actives in the Asia and Pacific region. The company reported that with this expansion it will be able to cooperate with established local partnerships, including business and tech financial service provider, Cognizant. CREALOGIX noted that in addition to regional retail banks and rising financial services providers, it also supports European private banks in the implementation of software solutions specifically for the Asian market. (more…)

Fintech news, Global trends, Hotnews, InspirAsia

November 18, 2017

140

AI implementation in AML at HSBC sees a considerable reduction in compliance costs

Current AML Techniques

In today’s world, we tend to combat money laundering efforts with regulation-based account surveillance and ordinary KYC systems, when in all honesty these techniques will not hold up in the ever-changing world of financial delinquency. For one, the Risk Based Approach (RBA) used by financial institutions for AML compliance purposes causes a high rate of false positives. (more…)

Banks, Global trends, Hotnews, Open Source/ API

November 16, 2017

191

Why ICO Landscape Has Shifted From ‘Bootstrapped’ Projects

By Nick Ayton for Cointelegraph

With 75% of ICOs now failing the reach their soft cap, the entire market has changed direction. This may also squeeze out the scammers and raise the bar beyond pure start ups entrepreneurs… (more…)

Blockchain, Cryptocurrencies, Fintech news, Global trends, Hotnews

November 14, 2017

176

Report: Apple is back to being the world’s top wearable maker

By Jon Russel for TechCrunch

Apple is once again the biggest selling producer of wearables after its third-generation Apple Watch, released in September, helped it pip China’s Xiaomi to the post. (more…)

Fintech news, Global trends, Hotnews

November 14, 2017

237

Standard Chartered to roll out AI chatbot

Standard Chartered is to launch an AI-powered chatbot to provide clients with natural language assistance in managing money, making payments and analysing their spending. (more…)

AI / Machine Learning / Big Data, Banks, Fintech news, Hotnews

November 14, 2017

224

62 Insane Facts About Bitcoin – Infographic

Bitcoin is a virtual currency that uses Blockchain technology for secure payments and storing money electronically, without requiring a bank or a person’s name. Satoshi Nakamoto created this cryptocurrency back in 2009. The biggest advantage of Bitcoin is that it’s not under control of central authority, government or private company, so people are free from paying transaction fees. It can be used for booking a hotel or flight, or purchasing products online, as many online stores and companies accept Bitcoin now.

(more…)

Blockchain, Cryptocurrencies, Fintech news, Global trends, Hotnews

November 14, 2017

158

SoFi Completes Largest Consumer Loan Securitization to Date

On Friday, SoFi announced it has completed a $727 million issuance of SoFi Consumer Loan Program 2017-6 (“SCLP 2017-6”) notes, making it the largest offering of securities backed by consumer loans and is SoFi’s 11th ABS transaction this year, bringing the lender’s total issuance for 2017 to $6.1 billion.  (more…)

Global trends, Hotnews, p2p/online lending

November 13, 2017

181

PayPal launches Money Pools feature

PayPal has launched a new feature that lets people club together to track and share the costs of spending on group activities or personal goals. (more…)

Hotnews, Payment processors/providers/gateways

November 13, 2017

168

Deutsche Bank goes live with Swift gpi

Intransparent deducts will soon be nothing more than a distant memory now that the reach of SWIFT’s global payments innovation (gpi) has moved nearer to being the new normal (more…)

Banks, Global trends, Hotnews

November 13, 2017

2616

We are looking for a bank in the US to buy

Hello everyone!

If you are the owner of a small or medium-sized bank in the US and are ready to sell it completely (or partially) – write to me: Slava Solodkiy, slava@ariv.al. (more…)

Banks, Global trends, Hotnews, Influences FinTech

November 7, 2017

272

Digital challenger bank Revolut’s applying for a European banking licence

Digital challenger Revolut is seeking to become an official bank, applying for a licence from the European regulator. (more…)

eWallets, Fintech news, Hotnews, Mobile-first banks

November 7, 2017

217

ArchOver surpasses £50 million lending milestone

ArchOver, the peer-to-peer (P2P) business lending platform, has facilitated over £50 million of lending with no losses or late payments. (more…)

Fintech news, Global trends, Hotnews, p2p/online lending

November 7, 2017

201

Stripe joins $93 million investment into U.K. banking startup Monzo

Monzo, a U.K.-based startup building a mobile-first banking service, has raised £71 million ($93 million) in a round of funding from Stripe, Goodwater Capital, Sequoia’s Michael Moritz, Passion Capital, Thrive Capital, and Orange Digital Ventures. (more…)

Hotnews, Mobile-first banks, Payment processors/providers/gateways

November 7, 2017

170

TransferWise Raises $280 Million in Series E

In a round led by Old Mutual Global Investors and venture capital firm IVP, TransferWise has raised $280 million in new funding. The new capital, which takes the London-based fintech’s total financing to more than $396 million, will be used to help the money transfer innovator grow its services and expand its global presence – particularly in Asia. The Series D also will enable TransferWise to build on its newly-launched service that helps SMEs reduce or even avoid conversion fees by letting them hold money in different currencies. (more…)

Global trends, Hotnews, Remittances

November 7, 2017

366

Life.SREDA VC launches the BB Fund, a $200M blockchain fund

Singapore’s Life.SREDA VC launches a $200 million venture capital fund, named Based on Blockchain or BB Fund. The Fund will invest in fintech and blockchain companies by acquiring and holding equity and/or tokens.  The BB Fund is targeting a minimum of $50 million for the first closure in Q4 2017 from a limited number of accredited investors; with a hard cap of $200 million. (more…)

Blockchain, Global trends, Hotnews, Influences FinTech

October 31, 2017

218

Nubank Reaches Out to Brazil’s Underbanked with Addition of Digital Accounts

By David Penn for Finovate

Brazilian fintech Nubank announced this week that the company will begin offering digital accounts in addition to its credit card business. The move will provide access to billpay, account-to-account transfers, and the ability to earn more in interest than is available with a regular savings account. “Our real revolution begins today,” Nubank founder and CEO David Velez said. “Now we are offering services to 100 percent of Brazilians.” (more…)

Banks, Global trends, Hotnews, Mobile-first banks

October 30, 2017

321

Ant Financial Puts IPO on Hold; Plans More Startups & Artificial Intelligence Investments

Chinese fintech and Alibaba-affiliated Ant Financial revealed this week it is putting its Initial Public Offering (IPO) plans on hold and is now focused on investing in more startups and artificial intelligence (AI). The news of Ant Financial’s plans comes less than a year after the company announced its acquisition of MoneyGram (NASDAQ: MGI), a Dallas-based money transfer service, for $880 million. Ant Financial secured $4.5 billion from private investors in April 2016 and earlier this year, the company reportedly sought to raise $3 billion to help fuel its global expansion. (more…)

Fintech news, Global trends, Hotnews

October 30, 2017

363

McKinsey: Banks Cannot Afford to Wait Any Longer as Digital Entrants Impact Bank Performance

McKinsey recently published a report on the global banking industry. While stating the financial recovery has helped old finance regain their footing the future is not quite so clear. According to the authors; (more…)

Analytics, Banks, Global trends, Hotnews

October 30, 2017

137

Amazon.com Announces Third Quarter Sales up 34% to $43.7 Billion

SEATTLE–(BUSINESS WIRE)–Oct. 26, 2017– Amazon.com, Inc. (NASDAQ: AMZN) today announced financial results for its third quarter ended September 30, 2017.

Operating cash flow increased 14% to $17.1 billion for the trailing twelve months, compared with $15.0 billion for the trailing twelve months ended September 30, 2016. Free cash flow decreased to $8.1 billion for the trailing twelve months, compared with $9.0 billion for the trailing twelve months ended September 30, 2016. Free cash flow less lease principal repayments decreased to $3.5 billion for the trailing twelve months, compared with $5.3 billion for the trailing twelve months ended September 30, 2016. Free cash flow less finance lease principal repayments and assets acquired under capital leases decreased to an outflow of $1.0 billion for the trailing twelve months, compared with an inflow of $3.8 billion for the trailing twelve months ended September 30, 2016. (more…)

Global trends, Hotnews

October 30, 2017

195

ING sets up EUR300m fintech fund

ING has become the latest bank to launch a fintech venture fund, earmarking EUR300 million for investments in promising startups. (more…)

Banks, Fintech news, Global trends, Hotnews

October 26, 2017

233

Kabbage & ING Extend Strategic Partnership to Italy & France

Kabbage Inc., a global financial services, tech and data platform serving small businesses, and ING, a leading global bank, are expanding their strategic partnership into France and Italy to provide small businesses with real-time access to working capital. Building on ING’s successful launch in Spain with the Kabbage PlatformTM, this partnership will allow millions of small businesses throughout France and Italy to easily apply, qualify and access ongoing lines of credit up to €100,000 with ING in under 10 minutes. (more…)

Fintech news, Global trends, Hotnews

October 26, 2017

188

SoFi held acquisition talks with Charles Schwab

SoFi, the online lending giant, held conversations with Charles Schwab about a potential acquisition by the brokerage firm, according to a source with knowledge of the discussions. (more…)

Deals, Hotnews

October 23, 2017

198

New venture capitalists find strength in numbers

By John Mannes for Techcrunch

The large number of new venture capital funds may hint at broader structural changes in the startup ecosystem, but for the young and eager partners at the helm of many of these funds, all the rush of money means is more competition. (more…)

Fintech news, Global trends, Hotnews

October 23, 2017

228

Facebook Messenger, PayPal Partner On P2P

On Friday (Oct. 20), PayPal and Facebook announced news that they are expanding their partnership. Facebook users will now be able to send and receive peer-to-peer money transfers through PayPal from within the social media website’s Messenger app. (more…)

Hotnews, p2p-payments

October 23, 2017

238

JD.com: Unprecedented Growth Ahead

By David Krejca for Seeking Alpha

Summary:

JD.com is a rapidly growing Chinese e-commerce business which has underperformed compared to its peers.

This might change soon and the company is expected to turn profitable this year and trades at an extremely low price-to-sales multiple.

My valuation model suggests that JD’s shares could appreciate by as much as 70 percent annually over the next three years.

(more…)

Analytics, Global trends, Hotnews, InspirAsia

October 23, 2017

534

To change how you use money, Open Banking must break banks

By Roland Manthorp for Wired

On January 13, 2018, the UK’s big banks will be forced to show startups their most precious data. But is Open Banking too revolutionary for its own good?

(more…)

Global trends, Hotnews, Open Source/ API

October 18, 2017