The fintech sector remains buoyant in Lithuania, defying a global investment downturn, according to a new review of performance in 2022. The Fintech Landscape in Lithuania 2022-23 Report from Invest Lithuania notes an 80% increase in the income generated from all licensed Lithuanian fintechs’ banking activities in H1 2022 over the same period in 2021, reaching €375 million.

Xapo Bank, a leading Bitcoin custodian and licensed private bank, has partnered with Lightspark and integrated with the Lightning Network to enable lightning-fast Bitcoin payments for its customers.

Sumsub, a global tech company that provides customizable KYC, KYB, AML and transaction monitoring solutions, has launched a Travel Rule solution for the crypto industry, offering a full compliance toolkit across the whole customer lifecycle.

The current digital tax environment is not an easy one to navigate,  to say the least. Tax authorities are using a huge variety of models around the world. From  diverse legislative changes to new reporting requirements and up to real time invoicing, a  multitude of requirements need to be considered. While it is critical to navigate the global  compliance chaos, E-Invoicing offers much more: a huge potential for process optimization and  efficiency gains. 

The ink is yet to dry on stories of the FTX collapse and now we hear that Coinbase is set to cut another 20 per cent of its workforce. This on top of an estimated 27,000 jobs lost across the industry since April – you’d be forgiven for asking whether crypto is going the way of the dodo.  

Ailleron, a software house specializing in financial technology services, and Nethone, a global machine learning-powered fraud prevention SaaS company, have announced a technology partnership to enhance digital retail banking services and further develop KYC offers. Cooperation with Nethone will further amplify Ailleron’s cybersecurity, AML (anti-money laundering) and fraud prevention capabilities.

The alarming rate of global identity fraud and online financial transactions continues to climb, with research indicating a 30% year-over-year increase in document fraud ID theft, authorised push payment scams, fake documentation and deepfakes. 
 

InvestCloud, the global leader in digital transformation for the financial industry with over $6 trillion in assets, has today announced the release of the next evolution of InvestCloud White, called InvestCloud White FMB+. The new product offering includes integrated front, middle and back-office InvestCloud solutions, plus simple multi-channel wealth management services to provide comprehensive tools to advisors and other wealth managers.

Dogs Trust, one of the UK’s largest animal welfare charities, has launched a debit card in partnership with Currensea, enabling members to make charitable donations each time they spend at home or abroad, helping raise vital funds for the charity to help dogs in need.

Alibaba Cloud has been named a Leader in the Gartner® Magic Quadrant™ for Cloud Database Management Systems (DBMS) for the third consecutive year in 2022, as well as a Challenger in its Magic Quadrant™ for Network Firewalls for the second consecutive year.