Visa notified WaveCrest that they were terminating their membership with the company for non compliance; WaveCrest is a third party processor where prepaid cards were being used for crypto based activities; the terms and conditions of their agreement with Visa stated that funds could only be loaded to the card via an employer on a regular basis; the termination note leaves a number of companies in limbo and looking for another option to service customers. Source.
Cloud providers Amazon Web Services, Google Cloud, Microsoft, and IBM have been working to convince more financial services companies to...
Some of the top startups in Europe will go head to head. Our second group of semifinalists in Pitchit’s Startup Summit competition will pitch their ideas live in front of a panel of fintech industry vets to compete for the gold prize.
Thomas Curry spoke on the Office of the Comptroller of the Currency's fintech charter at LendIt USA; Curry primarily refuted arguments against the OCC's authority for establishing a fintech charter; Curry sited the National Bank Act stating, "To be clear, the National Bank Act does give the OCC the legal authority to grant national bank charters to companies engaged in the business of banking."; the banking charter would encompass all fintech companies engaging in banking activities regardless of whether or not they take banking deposits; the OCC is still evaluating the provisions of the fintech charter following its December 2016 white paper and comment period which ended in January 2017. Source
Indian fintech CRED said on Tuesday it has raised $251 million in a new financing round, its third funding this year, at a valuation of $4.01 billion. Existing investors Tiger Global and Falcon Edge Capital co-led the three year-old Bangalore-based startup’s Series E financing round. Marshall Wace and Steadfast also participated — and so did...
Finastra is still behind the three core technology providers Jack Henry, FIS and CSI; however they are launching initiatives in...
While fintech is no exception to the changeability, there remains appeal from both investors and consumers in tech-enabled financial tools.
Banks have started to push a lot more of their technology investment into mobile; banks like Capital Bank in North Carolina has seen a jump in mobile usage from 17 percent three years ago to 43 percent today; while most banks have a mobile app experience they do not offer all the features that are found online; while banks are making progress there is still significant innovation ahead. Source.
Bank technology provider Numerated has expanded their small business offerings after clients were asking the firm to push further in...
Revolut recently shared that they had crossed one million customers in Ireland; now the digital bank is being accused by...