Mastercard today announced an agreement to acquire RiskRecon, a leading provider of artificial intelligence and data analytics solutions to support companies in protecting their cyber systems and infrastructure.

Whilst we talk about legacy technology as if it is commonplace across industries, it’s a relatively new term within Financial Services. The financial services industry didn’t used to compete by innovating for customers, instead they relied on regulatory barriers and even, to a certain extent, the barrier to entry of expensive infrastructure. With the advent of low-cost cloud computing and the emergence of challenger banks, that’s now changed. 

Leading local payments platform PPRO has sold its former issuing business unit, now called Crosscard S.A., to investors, in a transaction led by existing PPRO investor HPE Growth. Crosscard issues e-money accounts with integrated prepaid credit and debit Mastercard cards for consumers (under the brand name VIABUY) and businesses (under the brand names Crosscard and Fleetmoney).

Wolters Kluwer’s Lien Solutions has won a Silver Award in the 2019 Best in Biz Awards for its Portfolio Sync solution in the Best New Product Feature, Enterprise category. This marks the third industry accolade this year for Portfolio Sync, which is part of Lien Solutions’ flagship iLien product suite.   

Experimentation of the national project will start in January 2020, promoted by CeTIF, SIA and Reply, in collaboration with Bank of Italy and IVASS, to digitize the management of sureties using blockchain technology.

The “Fideiussioni Digitali” initiative (Digital Sureties) was born at the end of the feasibility study, which lasted about 4 months and involved around thirty major players in the insurance, banking and financial sector, the public sector and corporates.

Deloitte has announced its selection of this year’s 50 fastest-growing technology companies in the UK, naming digital banking unicorn Revolut as the top tech company.

Deloitte’s 2019 UK Technology Fast 50 awards recognize and rank the top 50 tech companies in the UK based on the last four years of revenue data.

Fintech unicorn Revolut emerged as the overall winner, generating an average three-year growth rate of 48,477% to the year 2018/2019 – the fourth-highest growth in the history of Deloitte’s UK Fast 50 competition.

Cyber-attacks have targeted nearly 75 percent of large companies across Europe and North America over the last twelve months.

FinVolution Group (formerly known as "PPDAI," or the "Company"), a leading fintech platform in China, today announced that its subsidiary with an application named "Adakami" in Indonesia, has received a license for Technology and Information Based Financial Lending Institution (peer-to-peer lending license) from the Financial Services Authority of Indonesia (Otoritas Jasa Keuangan, or OJK).

Cryptocurrencies first made their appearance on the Internet and in the global financial markets during the global financial crisis of 2008. Cryptocurrencies have virtual monetary value and rely on peer-to-peer cryptographic technology for the validation of transfers. The value of cryptocurrencies is created by users, and financial exchanges are decentralized using an open source software that can be installed on any computer. The most well-known cryptocurrencies are the Bitcoin and the Ethereum, although the world currently knows more than 1,600 virtual currencies.