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Category: Capital and Risk


Capital and Risk, Insurance, Regulations

Investment Funds File New Suits Over Lighthouse Insurance Collapse in 2022

April 23, 2024

Via: Insurance Journal

Three investment firms connected to some of the best-known names on Wall Street have upped the ante in a legal dispute over now-insolvent Lighthouse Property Insurance Corp., based in Tampa. Fortinbras Enterprises, the managing partner of which is the well-known […]


Capital and Risk, Operational

Wells Fargo to integrate AI into trade finance operations with TradeSun

April 19, 2024

Via: FinTech Futures

With approximately $1.9 trillion in assets, the San Francisco-based bank will utilise the fintech’s TradeSun Intelligence V4 solution to mitigate risks in its trade finance operations, while also applying its AI technology to harvest, verify and classify unstructured data to […]


Capital and Risk, Macroeconomic

Bank of America CEO: The Federal Reserve is winning the war on inflation

April 17, 2024

Via: Yahoo

The battle against inflation is being won by the Fed — even if it doesn’t appear that way to Mr. Market right now. “The reality is that they [the Fed] have got to win the war on inflation, and they […]


Capital and Risk, Credit, Operational

Myanmar’s KBZ Bank taps FinbotsAI for credit risk management solution

April 16, 2024

Via: FinTech Futures

As part of the deal, KBZ Bank will deploy the fintech’s credit modelling platform, CreditX, to “assess the creditworthiness of applicants across retail and SME products with higher accuracy and efficiency”. The AI-powered platform enables “real-time, paperless loan assessment” and […]


Capital and Risk, Insurance

Florida Peninsula Says Reforms Have Had an Impact, Announces 2% Rate Cut

April 11, 2024

Via: Insurance Journal

After the Florida Legislature in 2022 and 2023 passed sweeping reforms designed to limit excessive claims litigation, some in the insurance industry predicted that the new rules would prevent further rate increases – but would not lead to actual decreases […]


Capital and Risk, Operational

Opus CEO Praveen TM on driving AI transformation in banking and payments

April 10, 2024

Via: FinTech Futures

In an era where technology is reshaping the world of banking and payments, Opus Technologies is making waves through innovation. The company has launched a host of platforms and solutions to democratise artificial intelligence (AI) adoption among banks and credit […]


Capital and Risk, Trading

Unveiling the Dark Side of Forex and Cryptocurrency Trading

April 10, 2024

Via: TechBullion

Unveiling the Dark Side of Forex and Cryptocurrency Trading With the rise of the forex trading platform and the allure of quick profits, scam brokers have emerged as a significant threat to those seeking to venture into forex and cryptocurrency […]


Capital and Risk, Insurance

Former Maryland Insurance Agent Pleads Guilty to Stealing $369K

April 8, 2024

Via: Insurance Journal

A former Maryland title insurance agent recently pleaded guilty to carrying out a multi-year theft scheme netting her more than $369,000, according to the state attorney general. Cheryl Leigh Gray was a licensed insurance producer working as the operations manager […]


Capital and Risk, Operational

CFPB publishes new report highlighting risks related to financial transactions in video games

April 8, 2024

Via: FinTech Futures

Titled Banking in Video Games and Virtual Worlds, the new study reveals that gaming consumers in America spent nearly $57 billion on hardware, software, and in-game transactions in 2023. Gamers are often exchanging real dollars for virtual currencies or other […]


Capital and Risk, Operational

First Abu Dhabi Bank partners Microsoft to develop new AI-powered banking capabilities

April 3, 2024

Via: FinTech Futures

The bank is tapping Microsoft’s cloud-based Azure AI services to build and operate what it calls an “AI Innovation Hub”, with the aim of further integrating the technology into its product suite and back-end operations. Microsoft previously engaged in a […]


Capital and Risk, Operational

MAS unveils new Cosmic platform to help banks defend against terrorism financing and money laundering

April 3, 2024

Via: FinTech Futures

Cosmic was co-developed by MAS and six commercial Singaporean banks – Citibank, DBS, HSBC, OCBC, UOB, and Standard Chartered Bank – with these financial institutions being the first to implement the solution during its initial phase. MAS states that information […]


Capital and Risk, Insurance

Yellen Sees Insurance Payouts Helping Fund New Baltimore Bridge

March 28, 2024

Via: Insurance Journal

Treasury Secretary Janet Yellen said she expects insurers’ payouts to help cover some of the costs of rebuilding the Baltimore bridge that collapsed earlier this week. “My expectation would be that, ultimately, there’ll be insurance payments in part to cover […]


Activity, Capital and Risk, Operational, Retail Banking

Missouri’s Central Bank taps Personetics for AI-powered money management solution

March 28, 2024

Via: FinTech Futures

Central Bank states that the move will enable it to deliver goal-oriented savings and wellness programmes to its digital users, offer real-time personalised financial advice and introduce an improved money management hub. Daniel Westhues, executive VP and CMO at Central […]


Capital and Risk, Insurance

Minnesota Homeowners Report Surge in Insurance Complaints

March 22, 2024

Via: Insurance Journal

Minnesota homeowners insurance complaints rose 108% from 2020 to 2023, with of those complaints from homeowners concerned their claims were denied or they faced high out-of-pocket costs after damage from wind and hail. The Minnesota Department of Commerce (DOC) shared […]


Capital and Risk, Credit, Regulations

FTC fines fintechs Biz2Credit, Womply $59M over PPP actions

March 19, 2024

Via: Banking Dive

Two fintechs, Biz2Credit and Womply, agreed to pay a collective $59 million to settle allegations they deceived small businesses seeking Paycheck Protection Program loans during the COVID-19 pandemic, the Federal Trade Commission said Monday. Biz2Credit and its subsidiary, Itria Ventures, […]


Capital and Risk, Operational

Banking apps fall short on fraud protections: report

March 14, 2024

Via: Payments Dive

For the report, Consumer Reports evaluated the mobile banking apps of five large traditional banks: Bank of America, Capital One, JPMorgan Chase, U.S. Bank and Wells Fargo, as well as those of five digital banks: Albert, Ally, Chime, Current and […]


Capital and Risk, Liquidity

US Dollar Seeks Fed Signals in PPI, Retail Sales Data – EUR/USD, USD/JPY Setups

March 14, 2024

Via: DailyFX

The U.S. dollar experienced a slight dip on Wednesday, although its descent was cushioned by an uptick in U.S. Treasury yields. In any case, FX volatility remained subdued as traders appeared to refrain from taking large directional positions ahead of […]


Capital and Risk, Trading

U.S. Bancorp (USB) Stock Drops Despite Market Gains: Important Facts to Note

March 12, 2024

Via: Yahoo

The latest trading session saw U.S. Bancorp (USB) ending at $43.21, denoting a -0.71% adjustment from its last day’s close. The stock’s change was less than the S&P 500’s daily gain of 1.12%. At the same time, the Dow added […]


Capital and Risk, Insurance

US neobank Oxygen switches focus from banking to health insurance in new strategy

March 11, 2024

Via: FinTech Futures

In a statement on the company’s website, Oxygen says it officially commenced the “account closure process” on 8 March, with both consumers and business users being informed that their accounts will be closed on 29 March. The firm adds that […]


Capital and Risk, Credit, Regulations

CFPB to cap credit card late fees at $8 and increase accountability among issuers

March 8, 2024

Via: FinTech Futures

The ruling has lowered the charge from its previous figure of $32, in a move that the regulator hopes will save account holders more than $14 billion a year while axing what it describes as business models founded on “penalties, […]