Fintech CEO: Federal Home Loan Bank Has No Business in Crypto
- 2 years 11 months ago
- Lending
Silvergate Bank, known for offering banking services to the emerging cryptocurrency industry, has taken advantage of a quasi-federal lending program, the Federal Home Loan Bank of San Francisco, in order to stay afloat during a run on the bank. In Q4 of 2022, the bank saw customer withdrawals of $8.1 billion, accounting for 70% of the bank’s deposits. The Federal Home Loan Bank system was created during the Great Depression in order to make...
QuantCube Launches CPI Indicators for Brazil and China
- 2 years 11 months ago
- Data
Alternative data specialist QuantCube Technology today announced the availability of QuantCube CPI nowcast indicators for Brazil and China. The new indicators, which quantify the Consumer Price Index at a country level in real-time, are available on the QuantCube Macroeconomic Intelligence Platform (MIP). The launch of these new indicators forms part of a planned expansion of QuantCube’s CPI nowcasts for both emerging and developed economies.
Sanctions Screening Fintech GSS Raises £37M in First Funding Round as Former Vice Chair of Fed Joins Board
- 2 years 11 months ago
- Fundraising News
RegTech innovator Global Screening Services (GSS) today announced the completion of a successful initial funding round, having raised over $45m / c.£37m from major investors, including AlixPartners, The Cynosure Group, and MUFG. Randal Quarles, chairman and co-founder of The Cynosure Group, and former Vice Chairman of the Federal Reserve System and Chairman of the Financial Stability Board, has joined the GSS board.
Bluefin Adds Network Tokenization through Visa Technology
- 2 years 11 months ago
- Payments
Bluefin, a leader in integrated payments and data and payment security, today announced it has teamed up with Visa for network tokenization.
Universal Digital Payments Network for Stablecoins and CBDCs Launches at Davos
- 2 years 11 months ago
- Payments
A Universal Digital Payments Network (UDPN) for stablecoins and Central Bank Digital Currencies (CBDCs) was launched at the World Economic Forum (WEF) in Davos. The network aims to provide interoperability between these digital currencies. USPN has been in development for the last two years with contributions from GFT, Red Date Technology, TOKO, and DLA Piper. A sandbox was launched in July of 2022, where multiple banks were actively testing...
PhonePe Raises Growth Funds at a $12 Billion Valuation, Led by General Atlantic
- 2 years 11 months ago
- Fundraising News
PhonePe, one of India’s largest fintech platforms, today announced it has raised $350 million in funding from General Atlantic, a leading global growth equity firm, at a pre-money valuation of $12 billion. The General Atlantic investment marks the first tranche of an up to $1 billion total fundraise that PhonePe has commenced in January 2023. Another new marque global and Indian investors have already been signed up for the second tranche, which...
Pilon Raises $5.2 Million in Seed Round
- 2 years 11 months ago
- Fundraising News
Pilon, a Singapore-headquartered FinTech firm that offers a cloud-based Supply Chain Financing system, announced today that it has successfully raised a seed round of USD 5.2 million (both debt and equity). Wavemaker Partners led this round, with participation from Octava Pte Ltd and Polaris Kin Pte Ltd.
FNZ Acquires YieldX, Accelerating Wealth Management Solutions Across the U.S. Market
- 2 years 11 months ago
- Wealth Management
FNZ, the global wealth management platform, has agreed to acquire YieldX, a U.S.-based provider of fixed-income portfolio management technology, optimization services and direct indexing tools for the wealth management industry.
Channel Appoints Bhoomika Kesaria as Head of Investor Relations
- 2 years 11 months ago
- People Moves
Channel Capital Advisors LLP (Channel) has appointed Bhoomika Kesaria as its new head of investor relations.
British Business Bank Agrees Initial £175M ENABLE Guarantee with Specialist Commercial Lender DF Capital
- 2 years 11 months ago
- Banking
The British Business Bank has agreed an initial £175m ENABLE Guarantee with specialist commercial lending bank, DF Capital. The Guarantee will enable Manchester-based DF Capital to provide up to £225m of additional inventory finance annually through its commercial floorplan and unit stocking solutions for UK SME dealer and manufacturing businesses.
HSG Offers A Digital Payment Platform To ACU In Emerging Markets
- 2 years 11 months ago
- e-Payments
Hi Sun FinTech Global (HSG) supports ACU Group to offer fast, transparent and cost-effective international payments in multiple currencies.
IXOPAY Partners with Fraud.net
- 2 years 11 months ago
- Payments
IXOPAY, the leading independent provider of payment orchestration solutions and fraud and risk management provider Fraud.net have announced that they have joined forces. The partnership will offer international enterprises and white-label customers access to an agnostic SaaS payment platform and a top-tier fraud prevention solution.
91% of Financial Fraud Results from the Submission of Fake or Modified Financial Documents
- 2 years 11 months ago
- Fraud Detection
Attempted fraud in the financial industry has risen sharply since the start of the cost of living crisis began in late 2021. Homeppl, one of the leading fraud prevention providers has confirmed this week that 91% of the fraud they flag in applications stems from applicants attempting to conceal their true financial status by modifying original financial documents or creating completely fake ones.
Core10 Secures $6.5 Million in Series B Funding Round
- 2 years 11 months ago
- Fundraising News
Core10, Inc. (Core10), a U.S.-based financial technology company that provides lending and account opening products, as well as software development services, today announced the close of a $6.5 million Series B funding round to support the expansion of its Accrue platform and banking integration services.
nsKnox Raises $17M for its Bank Account Verification Services
- 2 years 11 months ago
- Fundraising News
nsKnox, which offers bank account verification and B2B payment security, has scored $17m in its latest batch of funding. First-time nsKnox backers Link Ventures and Harel Insurance & Finance took a significant part in the round. Existing nsKnox investors M12, Viola Ventures, and Alon Cohen, nsKnox’s founder and CEO, also joined the round.
