According to Banking Technology, PayU will be implementing Mambu's software-as-a-service based core banking platform; the software will support PayU's short-term deferred payment product; Mambu now has 26 clients which it supports from its Miami office; PayU is currently running a pilot in Colombia but it is expected to roll out services across Latin America. Source
Celsius artificially inflated the price of its own digital coin, failed to hedge risk and engaged in activities that amounted to fraud, a lawsuit alleges....
I noted that the FCA is holding the new UK banks to account for their mishaps over customer onboarding and, specifically, their lack of due diligence: Barclays’ fraud prevention team spotted a problem: some customers had handed over millions of pounds to a single, suspicious Monzo account in a matter...
More than 24 million mortgage loan documents were exposed online after the vendor OpticsML, who works with banks, had their server...
A new survey by Fidelity found 36 percent of U.S. and European institutional investors own crypto assets with Bitcoin being...
Coinbase announced they will add support for ERC20 tokens, the technical standard behind ethereum blockchain tokens; they don’t have plans to add any new token yet but is building out their technology to do so; "This is an infrastructure upgrade that will enable us to support many more assets in the future," a Coinbase representative told Business Insider.; the company did caution that they will wait regulatory clarity before adding any assets. Source.
Digital only Radius Bank has announced a new rewards program with enhanced benefits like increased transaction limits and cash back...
Disrupting banks when interest rates are near zero is in some ways playing on easy mode. As rates rise, the game will get harder—but not impossible.
Speaking at the Treasury's International Fintech conference in London this week, Jenkins explained how 18 months ago he predicted Uber moments that will begin to transform financial services; he now sees a lot of these moments beginning to happen with branch traffic down 50% in the UK in the last few years and Scandinavian countries beginning to look at going completely cashless; he also pointed out that new technologies like distributed ledger, machine learning and AI are becoming more cost effective; his new firm 10X Future Technologies has created a new banking system where you are able to build in this new technology in a seamless way. Source
The partnership announced today will allow Synchrony’s small business merchants to apply for a line of credit through Fundbox; borrowers...