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What happens after the newest cutting-edge banking technologies become table stakes? Banks move on to tackle another new technology. In fact, in the past decade or so, banks have been constantly moving from one new technology to the next– from remote deposit capture to merchant-funded rewards, roboadvisory services, AI-informed marketing strategies, and finally on to Read more…
This week for our Finovate Global Lists feature we congratulate the graduates of Startupbootcamp FinTech Dubai. Eleven startups successfully completed the MENA-based accelerator program in late February, wrapping up the three-month experience with a pitch opportunity before an audience of investors, corporate partners, mentors, and industry analysts. “As the Demo Day has passed and the Read more…
As our recent conversation featuring Boss Insights founder and CEO Keren Moynihan, reminds us, the fintechs (and “TechFins”) of the Great White North are engaged in some of the most forward-looking innovation on the continent. This week brings an above average volume of news from Canada’s ambitious real-time payments industry. For one, the Vancouver Bullion Read more…
VersaBank is getting in on the digital currency game. The Canada-based bank announced plans to launch VCAD, its own cryptocurrency backed one-to-one by the bank’s Canadian dollar bank deposits. Key to the launch is a partnership with Stablecorp, a joint venture between crypto asset manager 3iQ and blockchain development company Mavennet. Stablecorp will aid in Read more…
After 20 years as a player in the retail banking market of the Czech Republic, ING is calling it quits. The firm announced this week that it plans to withdraw from the country’s retail banking scene and is encouraging its customers to consider Raiffeisenbank Czech Republic as their alternative bank going forward. ING expects to Read more…
By now you’ve likely heard of Central Bank Digital Currencies (CBDCs). With consumers’ lives taking place increasingly online and the recent boost in cryptocurrency usage and value, much of the global economy is ready to move from discussing CBDCs to formally implementing a CBDC strategy. But though there has been some progress in this area, Read more…
In a Series D round led by existing investor Coatue Management, Indian financial services company BharatPe has secured $108 million in new funding. The investment, which also included participation from all of the firm’s current institutional investors, boosts the company’s total to $268 million and gives BharatPe a valuation of $900 million. The company highlighted Read more…
Though we’re only four weeks into it, 2021 has been a big year for cryptocurrency. While there has been a multitude of news items in the crypto space, there are a handful of items worth highlighting. Though much of the cryptocurrency news cycle is often quite hyped, it’s important for the traditional financial sector to Read more…
For those still waiting for greater institutional endorsement of digital assets, the news that Visa will enable cryptocurrency trading on its network should come as a welcome sign. Visa CEO and chairman Alfred Kelly announced the plan in an earnings call last week. Kelly noted that not only would Visa allow buying and selling of Read more…
Earlier this week we reported on the $400 million Series G closed by Brazilian neobank – and Finovate alum – Nubank. The firm, founded in 2013 and based in Sao Paulo, serves more than 34 million customers in Brazil, Mexico, and Colombia, and offers a digital savings account, a no-fee credit card, as well as Read more…
With bitcoin and cryptocurrencies enjoying renewed interest, it’s worth noting that many fintech fans encountered their first bitcoin-related businesses through Finovate conferences. Here’s a look at some of the companies that have brought their bitcoin and crypto-powered innovations to the Finovate stage. OpenCoin – FinovateSpring 2013 – The company now well-known as Ripple was introduced Read more…
You’ve finally perfected your digital transformation strategy that was accelerated because of 2020’s global pandemic. What should you focus on now? Here’s an idea: stablecoin transactions. The U.S. Office of the Comptroller of the Currency (OCC) last week published Interpretive Letter 1174 detailing that banks may use stablecoins and independent node verification networks (INVNs) to Read more…