The average cost of a data breach in the financial services sector now exceeds $5 million USD, nearly $2 million USD higher than the average cost across all other sectors. That’s according to a data breach report published by IBM earlier this year, highlighting the disproportionate levels of risk facing the financial services industry as businesses continue to navigate one of the most turbulent economic periods on record.

LiquidX, the global fintech solutions provider for working capital, trade finance, and trade credit insurance, has joined The Institutes RiskStream Collaborative™, the risk management and insurance industry’s largest enterprise-level blockchain consortium, and will participate in a working group serving the surety industry. The aim of the working group is to streamline and digitize the power of attorney registration and verification process using blockchain technology.

DV Group, LLC, parent to DV Trading and DV Securities, announced today that it has signed an agreement to acquire the business of Allston Holdings LLC, parent to Allston Trading and Allston Capital. Expected to close by year-end, the transaction combines two of the nation’s preeminent proprietary trading firms, both based in Chicago. Terms of the transaction were not disclosed.

 Hardbacon, a personal finance application used by more than 30,000 Canadians, announced today the acquisition of Findmytotal.com introducing an expanded offering of financial tools.

Community bank chooses nCino’s cloud-based, single platform to streamline lending, account opening, and client engagement

Sparkling Logic’s decision management platform leverages data insights and authors   business rules to define automated decisions

Meniga, the global leader in digital banking solutions, today announces the appointment of Gunter Saurwein as new Chief Operating Officer, to drive growth and performance.

Leading global AI-powered credit decision platform provider, Scienaptic AI announced that Centris Federal Credit Union has selected its AI-powered platform. The implementation will equip the credit union with enhanced underwriting capabilities to make stronger, faster credit decisions and strengthen financial options for its members.

New pilot will use open banking technology to calculate affordable savings for self-employed customers by understanding their monthly income and expenses

Penfold, the digital pensions platform, has today announced its partnership with Nest Insight, a public-benefit research and innovation hub, to launch a pioneering pilot to help self-employed people save for retirement.

he payment world today is unrecognisable from the beginning of last year. Consumers are so much more willing to try new payment technologies, especially if they are quicker and more hygienic (i.e. touchless). This rapid rate of change will continue on a global scale in 2022, writes Robert Hoffmann, CEO of Merchant Services at Nets, as consumer expectations for innovation keep growing.

His three big trends to keep an eye on in 2022 are:

1. Digital money for digital lives