Tyme, one of the fastest-growing digital banking groups in the world, has successfully raised $77.8m from Norrsken22 and Blue Earth Capital. The two new investors have come on board as part of its pre-Series C capital raise. This comes as the group’s South African flagship, TymeBank, celebrates its 7 million customer milestone this month (12 May 2023). 

Cryptocurrency has gained attention in recent years due to its associated risks in trading. UK lawmakers have resultantly suggested that trading cryptocurrency is actually comparable to gambling. They moreover stated that they have ‘no intrinsic value’, a statement that has been heavily criticised across the cryptocurrency industry. 

The UK must be cautious when introducing strict cryptocurrency regulation and consider the effects on the industry as a whole, says Lanistar

New research commissioned by Snowflake, the Data Cloud company, has found that the worlds’ leading financial firms are increasing their urgency to move towards the cloud in order to strengthen cybersecurity (50.5%), fraud detection (38.6%) and claims management (33.8%).

Lumon Pay, the fast-growing overseas payments and currency exchange platform has announced Vic Darvey as its new Chief Executive Officer [subject to regulatory approval].

Vic joins Lumon following a successful career at a number of leading technology-focused, disruptive brands, bringing with him a wealth of industry experience and knowledge.

The global COVID-19 pandemic has accelerated the trend of working remotely, which also inspired people worldwide to search for new destinations to work and travel. Being citizens of a wide range of countries, worker travellers become customers of financial institutions at their current locations.

Fintech industry leaders warned of the risks posed by AI and ChatGPT last night as well as discussing the role automation and digital skills will play in driving economic growth.  

Ozone API and Smart Data Foundry have today announced a partnership and the launch of two new products - the Standards Library and Innovation Atlas - which are designed to support and accelerate financial innovation in Open Banking.

The Standards Library helps financial institutions and innovators understand the global landscape, making it quick and easy to assess the technical standards adopted by a geography or financial system.

Monese, a leading pan-European fintech that offers smart money services to millions of consumers across Europe, announces the launch of XYB, an end-to-end ‘coreless’ banking platform provider, enabling banks and non-banks to break down the barriers to building and providing financial services in record time. XYB is aimed at addressing a market gap in the core banking space of high dependence on costly yet incomplete traditional core banking systems. The global market potential for this space is estimated to be around £700 billion.