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The new, low-touch economy has set me thinking about robots recently. The less society is able to interact with fellow humans, the more voids exist, especially in the services industry. And I’m not just talking about restaurants and hair salons (though, are robot barbers in our future?). The banking industry is a prime candidate for Read more…
A partnership between Nutmeg and TrueLayer will bring the benefits of open banking to the U.K. wealth management business for the first time. The online investment platform announced that it will leverage TrueLayer’s financial APIs to enable its customers to make faster, more secure payments to their accounts online or from their mobile device. “The Read more…
Blockchain-based money transfer platform Circle is making double headlines today. The U.S.-based company not only landed $25 million in funding, it also partnered with Genesis, an institutional trading firm offering two-sided liquidity for digital currency, including bitcoin. Genesis parent company Digital Currency Group is the investor behind the $25 million. The investment is Circle’s first Read more…
Let’s face it, 2020 hasn’t been the year we were anticipating. We’re experiencing increased stress levels created by not only by fears of contracting a life-threatening virus, but also an economic downturn of unknown proportions. And from a business perspective, stay-at-home orders and lack of childcare create a frustrating environment for co-worker communications. Not only Read more…
If deal-making is a sign of the health of an industry, then the fintech business – global public health crisis notwithstanding – may be doing better than some suspect. The latest signs of hi-life from the nexus of finance and technology comes from the news released after hours on Tuesday that Enova International – an Read more…
It seems as if cryptocurrencies are starting to capture the attention of mainstream financial services providers. This week, Visa has shown to be no exception. The payments giant recently revealed plans to use cryptocurrencies into its traditional payments network. In a blog post announcement, Visa said it has been working with Coinbase and Fold to Read more…
To steal a line from Rob Base and DJ EZ Rock, when it comes to innovation in fintech, it takes two to make a thing go right. Whether the “thing” is an end-to-end digital transformation or creating the technology infrastructure to enable firms to build and market their own innovations, collaboration and partnership with fintechs Read more…
Global payments platform Paysafe announced its acquisition of online payments innovator Openbucks. Financial terms of the deal were not disclosed and the companies expect the acquisition to be finalized by the end of July. Paysafe aims to leverage Openbucks to expand its cash alternative payment offering in the U.S. by tapping into Openbucks’ technology that Read more…
A report earlier this year from PwC highlighted the “changing competitive landscape” for fintech and banking in Nigeria. For those looking to learn more about both the growing impact of technology in financial services in one of the major countries in Africa, as well as the challenge created by COVID-19, PwC’s review provides an comprehensive Read more…
The following is a guest post by Wilson Pang, Chief Technology Officer of Appen. Becoming an AI-first Organization in Finance Many global organizations are recognizing artificial intelligence (AI) as a core component of their business. In fact, three out of every four companies surveyed in The 2020 State of AI and Machine Learning Report consider Read more…
Palo Alto, California-based insurtech Hippo Enterprises has locked in $150 million in new financing and earned a valuation of $1.5 billion. The Series E round featured participation from new investors Dragoneer and Ribbit Capital as well as existing investors Felicis Ventures and Iconiq Capital. This week’s investment takes the company’s total capital to $359 million. Read more…
It’s been five years since eBay and PayPal split into separate companies – which means the five-year operating agreement that maintained the firms’ payments relationship in the years since the breakup is about to run out. This week eBay announced that it is now ready to expand the managed payment system that will take PayPal’s Read more…