The prestigious Fintech Meetup 2024 event held in Las Vegas was witness to valuable insights by Ankit Maharaj Singh, Senior Vice President of Strategic Growth, and Sharad Gupta, Vice President of AI and Automation. They laid emphasis on the importance of hyperautomation within the banking sector. More than 5,000 financial professionals from across the world […]
Fintech
Could This Artificial Intelligence (AI) Fintech Be 1 of 2024’s Largest IPOs?
This Swedish fintech could go public later this year and is eyeing a $20 billion valuation. After a tumultuous two-year period for initial public offerings (IPOs), signs point to a potential turnaround for the market. On March 21, Reddit made its public debut, and it is a big test to see how markets respond to […]
PATH Expands Contactless Payments Efforts Across Major Transit Hubs
The Port Authority of New York and New Jersey is expanding its Total Access PATH Payment (TAPP) system to major transit hubs. The first phase of the rollout, which was completed this week, saw the installation of 12 new turnstiles at the World Trade Center. TAPP is now accessible through select turnstiles at terminal stations where […]
Navigating The P2P Minefield
Financial institutions are increasingly navigating a sea of scams and fraud. With the evolution of emerging technologies, new avenues for attack have opened, leaving banks, credit unions, and their accountholders more vulnerable. As peer-to-peer (P2P) payments become an expectation, the risks for banks and credit unions edge higher. The real-time nature of P2P payments and […]
FinTech IPO Index Soars 5.2% as Lufax Is Up 73% Post-Earnings
There were a few stunning surges this past week with the FinTech IPO Index, which added more than 5% through five sessions. And, as has been seen in the past few weeks, earnings were the key driver. Lufax Holding shares rallied about 73%. The company reported earnings this week that showed that the company’s cumulative number of […]
The British Business Bank to provide £660m to startups
The British Business Bank has announced its Northern Powerhouse Investment Fund II providing a £660m fund to small businesses in the North of England. Loans from £25k to £2m,debt finance from £100k to £2m, and equity investment up to £5m will be available to companies across the North West, Yorkshire and the Humber, Tees Valley, […]
Nationwide customers hit by payment delays
Nationwide says a “fault” on Friday morning led to all payments between it and other banks and building societies being delayed. In a service update on social media this morning, Nationwide told customers: “We’re sorry, payments to and from other building societies and banks are delayed at the moment.” Transfers between Nationwide accounts, direct debits, […]
Nationwide to acquire Virgin Money with extended Branch Promise
Nationwide Building Society has confirmed the offer of acquisition to Virgin Money UK, agreeing to the terms of a cash offer of £2.9 billion with Virgin Money’s Board. The deal was offered earlier this month, in a move to expand the group into a major retail bank. Nationwide also announced that it will be extending […]
VCs double down on fintech Coast, which aims to be the Brex for ‘real-world’ industries
The expense management arena is a crowded one, with well-funded players such as Brex, Ramp and Navan all clamoring for market share. Those companies are generally focused on tech startups and large corporations. But a four-year-old contender, Coast, is pursuing a different type of customer — businesses with so-called “real-world” field personnel and fleets to manage like trucking […]
Banks Advocate Digital Payments as Defense Against Check Fraud
Despite the growing adoption of digital payment solutions worldwide, financial institutions (FIs) continue to process billions of checks each year, setting the stage for a growing trend: check fraud. Last year, the Financial Crimes Enforcement Network (FinCEN), reported a nationwide surge in check fraud, with a notable 23% increase in Suspicious Activity Reports (SARs) filed […]