April 23, 2024
FinTech FuturesJTC describes FRTC-DE as “highly complementary” to its previous acquisitions of South Dakota Trust Company (SDTC) and New York Private Trust Company (NYPTC). The proposed deal, which is subject to customary closing conditions, will see FRTC-DE and its $9 billion […]
Capital and Risk, Insurance, Regulations
April 23, 2024
Insurance JournalThree 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 […]
April 22, 2024
FinTech FuturesThe bank, which has been lending to UK-based SMEs since 2020, reports that its revenues increased 141% in the 12 months up to 31 December, standing now at £191 million. Filing a 75% increase in customer deposits to £2.6 billion, […]
April 19, 2024
FinTech FuturesWith 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 […]
April 18, 2024
FinTech FuturesFounded in 2017, Mercury states customers of its new solution will have access to features such as customisable debit card limits, worldwide ATM fee reimbursements, no-fee domestic wires and ACH transfers, alongside no minimum balances. In addition, at the time […]
Capital and Risk, Macroeconomic
April 17, 2024
YahooThe 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
April 16, 2024
FinTech FuturesAs 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 […]
April 12, 2024
Banking DiveMultiple U.S. regulators have joined the probe into Morgan Stanley’s efforts to prevent potential money laundering by its wealth clients, according to a report from The Wall Street Journal. The Securities and Exchange Commission, the Office of the Comptroller of […]
April 11, 2024
Insurance JournalAfter 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 […]
April 10, 2024
FinTech FuturesPreviously cited by the fintech as a “key region for international expansion”, Revolut has been in pursuit of the approval since 2021, when it hired former RappiPay executive Juan Miguel Guerra to head its entry into the market. Its efforts […]
April 10, 2024
FinTech FuturesIn 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 […]
April 10, 2024
TechBullionUnveiling 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 […]
April 8, 2024
Insurance JournalA 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 […]
April 8, 2024
FinTech FuturesTitled 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 […]
April 4, 2024
Payments DiveThe central bank also provided perspective on its goals. “The project will focus on overcoming common structural inefficiencies in cross-border payments today related to differing legal, regulatory, and technical requirements, operating hours and time zones, and varying financial integrity controls,” […]
April 3, 2024
FinTech FuturesThe 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 […]
April 3, 2024
Banking DiveJPMorgan Chase launched a business Wednesday that will help marketers target customers based on their spending habits. Chase Media Solutions, billed as the only bank-led platform of its kind, connects Chase’s 80 million customers to retail deals tailored to their […]
April 3, 2024
FinTech FuturesCosmic 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 […]
April 3, 2024
Banking DiveDelays implementing return-to-office plans and questions around companies’ longer-term real estate footprints are straining the office category of regional banks’ commercial real estate portfolios, executives said last week in Philadelphia. Nearly a year after the World Health Organization declared the […]
April 1, 2024
JD SupraIn a display of the United States’ jurisdictional reach, the Justice Department has indicted KuCoin, a prominent global cryptocurrency exchange, along with founders Chun Gan and Ke Tang, for Bank Secrecy Act (BSA) and unlicensed money transmission offenses. The indictment […]