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Chinese fintech startup Wecash makes foray into Indonesia through joint venture

By Kevin McSpadden for e27

The goal is to be a go-to place for SME loans as Indonesia’s middle class continues to boom. (more…)

China, Credit scoring, Fintech news, Indonesia, p2p/online lending, Security

January 23, 2017

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Blackstone’s Jay Leek joins Florida VC firm to manage $300 million security fund

By  for Venturebeat

Rumors have been spreading lately about where Jay Leek, former managing director and chief information security officer (CISO) at Blackstone, will be heading next. His pick? ClearSky, an under-the-radar venture capital firm based in Palm Beach, Florida, where he will be managing a $300 million fund dedicated to cybersecurity. (more…)

Fintech news, People of fintech, Security

January 22, 2017

Myanmar’s CB Bank to double size of ATM network

By Finextra

Co-Operative Bank Limited (CB Bank) in Myanmar has awarded Diebold Nixdorf an extensive contract for systems, software and services to expand its self-service cash offerings beyond the country’s main commercial hub Yangon.  (more…)

Banks, Fintech news, Myanmar, Security

January 20, 2017

Online Payment Security Startup Fraugster Raises $5M

By FinSMEs

Fraugster, a provider of an Artificial Intelligence (AI) technology solution to eliminate payment fraud, raised $5m in funding.  (more…)

AI / Machine Learning / Big Data, Deals, Fintech news, Security

January 17, 2017

Could Regulators perform AML in a Blockchain World?

By Hari Subramanian for Finextra

Before you say “that is a crazy idea”, stop and think. It sounded crazy to me as well but after some thinking I have concluded that it has merits. Here’s why.  (more…)

Analytics, Blockchain, Government activities, Security

January 14, 2017

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Hottest FinTech Trends for 2017

By YapStone for LTP

When the media talks about FinTech, more often than not, the leading headline is a bold statement, like “the FinTech revolution,” or “the big bank disruption,” and it’s easy to see why. Dubbed by the Economist as a “magical combination of geeks in T-shirts and venture capital,” the growth and influence of FinTech have been rapid. (more…)

AI / Machine Learning / Big Data, eWallets, Fintech news, Global trends, Mobile payments/banking, Security

January 14, 2017

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The Journey to Invisible Authentication

By Elena Mesropyan for LTP

There is little to no doubt that passwords are on their way out of use and relevance with more advanced solutions taking over the market. But no matter what comes next, the most advanced solutions that are increasingly gaining attention and traction are making one major change in ensuring cybersecurity – they introduce invisible, non-interrupting methods of continuous authentication. (more…)

About, Global trends, Security

January 11, 2017

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FinTech Story: Hits and Misses From 2013 to 2016 and the Way Forward

By Amit for LTP

We have watched 35+ FinTech segments through the ups and downs every single day in the last 3.5 years at LTP. We developed a lot of listening tools and an army of analysts to catch everything in FinTech like a radar. Somebody told us that we have one of the biggest team of FinTech market analysts and that could very well be true. In 2016, we developed MEDICI from the data that we collect, and that contains 6000+ FinTech startup profiles and research across segments. It’s my pleasure to share what we learned about FinTech shift by analyzing some of the data and also talking to hundreds of entrepreneurs and FIs in-person in the last couple of years.  (more…)

China, Cryptocurrencies, India, Mobile payments/banking, RegTech, Security

January 10, 2017

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SpareBank 1 adds risk-based authentication to Nets 3D Secure programme

By Finextra

The SpareBank 1 Alliance has expanded its cooperation with Nets on 3D Secure to include Risk-Based Authentication (RBA). This solution enables quicker and easier online shopping for SpareBank 1’s personal customers without compromising on security.  (more…)

Banks, Fintech news, Security

January 9, 2017

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Insurers tap cyber security ratings to limit liabilities

By  for Financial Times

New breed of start-ups aims to assess strength of companies’ defences against hackers. (more…)

Insurance, news, Security

January 8, 2017

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South African Fintech Firm to Launch Blockchain-based Identity Verification in 2017

By Rebecca Campbell for CryptocoinsNews

South African fintech company ThisIsMe (TIM), which focuses on identity verification, has announced that it will be adding blockchain technology to boost its services and is expected to go live in 2017. (more…)

Blockchain, Fintech news, Security

December 27, 2016

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Philippines Considers Bitcoin Regulation amid Remittance Increase

By Rebecca Campbell for CryptocoinsNews

he Philippines government is discussing whether to regulate digital currencies like bitcoin in the country to improve protection for its citizens as the number of Filipinos abroad using bitcoin to send money back home increases. (more…)

Blockchain, Cryptocurrencies, Fintech news, Government activities, Philippines, Remittances, Security

December 21, 2016

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Account takeover is EMV’s ‘silent’ risk

By Chris Pinion for PaymentsSource

I don’t think anyone anticipated the amount of account takeover (ATO) and new account fraud (often referred to as application fraud) that would occur in the wake of the EMV changeover.

(more…)

Analytics, Marketing Report, POS/mPOS and online acquiring, Security

December 17, 2016

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Swift says attacks are ‘here to stay’: Report

By Robert Barba for PaymentsSource

The payments messaging network Swift has told its client banks that the threat of cyberattacks “is very persistent, adaptive and sophisticated — and it is here to stay.” (more…)

Banks, Fintech news, Security

December 13, 2016

FinTech Startup Symend Closes $1M Seed Funding Round

symend

By FinSMEs

Symend Inc., a Calgary, AB, Canada-based fintech startup, raised $1m in seed funding.

Backers included unnamed business angels. (more…)

Deals, Fintech news, Security, SME

December 10, 2016

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Can a Unified Identity Become the Most Valuable and Dangerous Asset Ever Created?

By Elena Mesropyan for LTP

A fragmented individual

One’s identity is a centerpiece of every aspect of his/her life – financial and social standing, health, family welfare, employment, education, etc. Therefore, the recognition and authentication of an individual’s identity, together with associated rights, is becoming a priority for governments around the world. (more…)

Analytics, China, Global trends, Government activities, Security

December 9, 2016

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Finance sector urged to ramp up cyber defences

By  for Financial Times

Most of the recent cyber attacks on the financial system could have been avoided relatively easily if the private sector and government institutions had taken basic security precautions, a senior US Treasury official has claimed. (more…)

Banks, Fintech news, Government activities, Security

December 9, 2016

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Ring out the old, ring in the new

By Finextra

Sophie Guibaud, VP of European expansion at Fidor Bank looks back at the key banking tech trends of 2016 and what we can expect to rise to the top in the year ahead. (more…)

About, AI / Machine Learning / Big Data, Banks, Bots, Fintech news, Security, SME

December 9, 2016

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Interview with Head of Digital Financial Services Solutions at Fujitsu and CEO/Founder of Trunomi

By LTP

Interview with Gary Fegan, Head of Digital Financial Services Solutions at Fujitsu

LTP: Tell us about Fujitsu in financial services? (more…)

About, Banks, Fintech news, Global trends, Interviews, Security

December 9, 2016

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South Korea’s Online Banking System Is Stuck In 1996

By Elaine Ramirez for Forbes

“I can’t f***ing stand this s***. I almost threw my brand new computer across the room,” says Seoulite Jeonghyun Kwon, an avid online shopper, after another failed attempt to buy a sweater.

“[My bank’s] security apps slow my computer to a crawl so I have to uninstall them after every use, and then reinstall them when I want to buy something.” (more…)

About, Analytics, Banks, Government activities, Korea, Security

December 7, 2016

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Alternative Data in Financial Services is a Double-Edged Sword

By Elena Mesropyan for LTP

Traditional methods of creditworthiness assessment can’t do much for the groups of the population that don’t fit the scheme. As a result, inclusive initiatives by financial institutions will always hit a wall of unstretchable rules and criteria. Meanwhile, a fairly large part of the global community struggles to access financial services – there are ~2 billionfinancially excluded people and ~1.5 billion of those who cannot prove their identity. (more…)

AI / Machine Learning / Big Data, Analytics, Banks, p2p/online lending, Security

December 7, 2016

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Mastercard’s AI learns to avoid false security flags on the fly

By John Adams for Payments Source

Inaccurate rejections of legitimate transactions aren’t a new problem, and companies can’t always use past transaction data to spot future risk on a large scale. Artificial intelligence can change the game, but only if it is smart enough to adapt its expectations based on the conditions of each transaction, according to Ajay Bhalla, president of enterprise risk and security for Mastercard. (more…)

AI / Machine Learning / Big Data, Analytics, Fintech news, Global trends, Security

December 6, 2016

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How blockchain can help fight cyberattacks

By  for TechCrunch

Imagine a computing platform that would have no single point of failure and would be resilient to the cyberattacks that are making the headlines these days. This is the promise behind blockchain, the distributed ledger that underlies cryptocurrencies like Bitcoin and Ethereum and challenges the traditional server/client paradigm. (more…)

About, Blockchain, news, Security

December 6, 2016

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BOE asks Fintech firms to help warn banks about cyberattacks

By Rebecca Campbell for Hacked

The Bank of England is recruiting FinTech companies to help prevent cyberattacks targeting financial institutions, according to a report from The Telegraph. (more…)

Fintech news, Government activities, Security

December 4, 2016

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Visa buying CardinalCommerce to further token security

By John Adams for PaymentsSource

Visa’s growth beyond plastic cards relies heavily on tokenization, a strategy that should get a major boost from its planned acquisition of CardinalCommerce. (more…)

Deals, Fintech news, Payment processors/providers/gateways, Security

December 4, 2016

A padlock is displayed at the Alert Logic booth during the 2016 Black Hat cyber-security conference in Las Vegas, Nevada, U.S. August 3, 2016.  REUTERS/David Becker

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Russian central bank loses $31 million in cyber attack

By Reuters

Hackers stole more than 2 billion rubles ($31 million) from correspondent accounts at the Russian central bank, the bank said on Friday, the latest example of an escalation of cyber attacks on financial institutions around the globe. (more…)

Banks, news, Security

December 4, 2016

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MAS Unveils New Moves To Boost Fintech Sector in Singapore

By

The Monetary Authority of Singapore (MAS) has announced a series of moves to boost fintech development in the city-state and strengthen ties with other Asian countries. (more…)

Fintech news, Government activities, Insurance, Security, Singapore

December 2, 2016

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Visa slams European plans for stronger online transaction authentication rules

By Finextra

Visa has lashed out at European Banking Authority (EBA) plans to toughen up authentication rules for online transactions over EUR10, claiming that they will lead to more declined transactions, complicated checkouts and abandoned purchases. (more…)

Fintech news, Government activities, Mobile payments/banking, POS/mPOS and online acquiring, Security, SME

November 22, 2016

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Next-gen biometrics: using the force of habit

By Penny Crosman for PaymentsSource

National Westminster Bank in London is tracking every movement customers make on its website or mobile app, looking for behavior that doesn’t match past actions or clues that users are not who they purport to be.

(more…)

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

November 22, 2016