Month: November 2020

Chime’s app goes down for a day as users complain of rejected purchases

Chime, the $15 billion-valued US challenger banking service, experienced nearly eight hours of downtime on its app and website last week. Whilst it said card payments and ATMs were still working, the start-up’s eight million customers could not access funds via the app or website for the majority of that Thursday. “We are currently experiencing intermittent …

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Mastercard’s Cyber Secure Uses AI To Help Banks Fight Cyber Fraud

SHARETWEETSHARESHAREPRINTEMAIL Mastercard has unveiled its artificial intelligence (AI)-fueled Cyber Secure tool suite, which lets banks evaluate cyber risk throughout their ecosystems and stop possible breaches from occurring, according to a Friday (Oct. 30) announcement emailed to PYMNTS. Banks can discover and rank threats and vulnerabilities across their cyber environments with the help of the tool. Furthermore, …

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Australia’s Central Bank Kicks Off CBDC Research Project With ConsenSys as Partner

The Australian central bank announced Monday it’s partnering with Commonwealth Bank, National Australia Bank, Perpetual and ConsenSys to explore the possible use and implications of a wholesale form of central bank digital currency (CBDC) using distributed ledger technology (DLT). The Reserve Bank of Australia (RBA) said the project will involve the development of a proof-of-concept (POC) for the issuance of a …

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Strive launches challenger ‘bank’ for families, following GoSave acquisition

There’s a new challenger on the block for kids and parents, with Strive launching today with its own take on digital banking and financial education for families to rival the likes of Osper and GoHenry. Strive, which today announced the acquisition of ‘digital piggy bank’ fintech GoSave, is combining GoSave’s interactive piggy bank with its savings account …

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Nordic Capital acquires RegTech from BearingPoint

Nordic Capital is to acquire BearingPoint’s RegTech business, a regulatory reporting platform used by more than 6000 firms including banks, insurance companies and supervisory authorities.Founded over 25 years ago, RegTech is headquartered in Frankfurt, and has 17 offices across 10 countries with a total workforce of approximately 630 employees. The company is expected to generate …

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Fintech Startup, PAYMYNT Financial, Announces Patent-Pending Universal Payment Rewards System

PAYMYNT, a Mobile Commerce & Cryptocurrency Rewards Platform, Announces a Patent-Pending Application PAYMYNT Financial, a Greater Boston-based financial technology company, filed a patent application for its novel Universal Rewards System. PAYMYNT Rewards is an all-in-one mobile commerce platform with over 2,000 name-brand retail partners. “Today’s reward systems are fragmented and do little to benefit the consumer.” Michael Rosa said, CEO, PAYMYNT Financial. “Our universal rewards …

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Ron Shevlin is the Managing Director of Fintech Research at Cornerstone Advisors.

News today that Ant Group’s  IPO is suddenly on hold in both Shanghai and Hong Kong caused a sell-off of Alibaba shares. This afternoon, equity in sister-company Alibaba is off around 8% in the wake of the delayed offering and news that Ant had run into regulatory issues with the Chinese government. Ant was spun out of Alibaba, which owns a …

Ron Shevlin is the Managing Director of Fintech Research at Cornerstone Advisors. Read More »

We bring you the most recent news we found this week. The latest updates will offer you interesting insights and highlights from the global fintech ecosystem, and a variety of topics to explore, ranging from insurance, crypto assets, wealth management, collaborations & partnerships, banking, mergers and acquisitions, regulatory frameworks and more. We invite you to …

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