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CellPay Announces Partnership With MoneyGram to Expand Bill Payment Options for Consumers Across the U.S.

CellPay, a leading telecommunications company that provides services through its telco and bill payment platform, and MoneyGram International, Inc., a global leader in the ev

Tuesday, December 27, 2022 - 17:20
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Financial IT
Payworld, a Bharat-focused Fintech Brand to Enter Neo-banking and Will be Working with Banks, NBFCs and Other System Participants Towards Facilitating Credit Penetration, E-Rupee, UPI & E-KYC

Payworld, one of Bharat’s leading fintech platforms is on a mission to bridge the Digital Financial Divide between India & Bharat. In the year 2022, Payworld crossed the milestone mark of being associated with one million retailers across Bharat, who are now serving their communities in semi-urban, rural, and underbanked communities in urban India.

Tuesday, December 27, 2022 - 13:32
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Financial IT
Onramp Announces Partnership with Jump.trade, Enables Users to Trade in NFTs in INR

Onramp.money, a major payments service provider for crypto players in India, has announced an integration with Jump.trade, a leading NFT marketplace in Asia. Via onramp.money, users on the platform will now be able to purchase and trade non-fungible assets and digital collectables using INR, simplifying the process of onboarding the untapped masses onto Web 3.0.

Tuesday, December 27, 2022 - 10:32
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Financial IT
OKX Partners with DappRadar to Make Decentralized Applications Easily Accessible

OKX, the world’s second-largest cryptocurrency exchange by trading volume, today announced a strategic partnership with DappRadar, a global app store for decentralized applications (DApps), to offer OKX users new ways to connect, discover, and interact with Web3.

Tuesday, December 27, 2022 - 08:59
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Financial IT
Japanese Fintech Leader Smartpay First to Launch the Next Phase of Digital Consumer Finance Through Open Banking

Japan-based fintech Smartpay has launched Smartpay Bank Direct, the country's first digital consumer finance service that allows customers to pay for online instalment purchases straight from their bank accounts. Smartpay Bank Direct emphasizes user security while delivering convenience for the consumer, through a network of 67 partner banks across Japan. Smartpay is Japan's first digital consumer finance company to utilize Japan's open banking system.

Tuesday, December 27, 2022 - 08:50
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Financial IT
Akulaku Announces $200 Million Investment from MUFG

Akulaku ("the Company"), a leading banking and digital finance platform in Southeast Asia, today announced a $200 million investment from Japanese megabank Mitsubishi UFJ Financial Group (MUFG). The investment provides additional support for Akulaku's projected growth as it advances towards its mission of providing banking services across Southeast Asia with an emphasis on reaching underserved customers and markets.

Tuesday, December 27, 2022 - 08:36
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Financial IT
LexisNexis Risk Solutions Wins Best Payment Solution at AMTD DigFin Innovation Awards

LexisNexis® Risk Solutions announced today that its suite of payment reference and validation solutions— LexisNexis® Bankers Almanac® Payments — has been named the Best Payment Solution at the AMTD DigFin Innovation Awards. The 2022 AMTD DigFin Innovation Awards, organized by DigFin, recognizes outstanding industrial leaders that excel in the fields of asset management, insurance, capital markets, banking and payments.

Tuesday, December 27, 2022 - 08:31
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Financial IT
Morgan Stanley, Goldman Sachs and 14 Other Largest Financial Institutions Were Charged $1.1B to US Regulators

On Tuesday, the Securities and Exchange Commission (SEC) fined 16 of Wall Street's major financial organisations $1.1 billion for failing to supervise employee correspondence. 

Barclays Capital, Citigroup, Morgan Stanley, Goldman Sachs, and Bank of America will pay SEC recordkeeping law penalties. These companies' investment banking executives, equity, and debt traders have violated the Securities Exchange Act of 1934 by using unmonitored personal devices to discuss business.

SEC Chair Gary Gensler stated: 

Monday, December 26, 2022 - 20:34
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Financial IT
Mortgage Lender Better.com Announces Further Layoffs

Three months after its CEO, Vishal Garg, fired over 900 employees on a Zoom call, Better.com announced on Tuesday that it will terminate more than a third of its staff this week. 

When mortgage rates were low and the online lending business developed, the SoftBank-backed company, which has just over 9,000 employees in the US and India, quadrupled in size. However, real estate market fluctuations and the likelihood of a Federal Reserve rate hike this month have hurt it.

Monday, December 26, 2022 - 20:16
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Financial IT
Brex Reaches $12.3B Valuation and Hires Former Meta Executive as Head of Product

Brex raised $300 million in a Series D-2 round in the latest fintech megaround, raising its valuation to $12.3 billion. 

Brex initially offered credit cards to entrepreneurs and SMBs. It has evolved to become a one-stop funding shop for these enterprises. Brex Premium, a $49-per-month service, combines credit cards, company cash accounts, and new spend control and bill pay software under a single dashboard last April. Since its founding, the company has concentrated on corporate cards, banking, and cost management. Its goal is to be a "financial operating system" for clients.

Monday, December 26, 2022 - 18:52
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Financial IT

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