Fintech News

JUNE 23, 2024

Since the last assessment in 2014, Singapore has closely monitored ML risks, including those related to legal persons, virtual assets, and environmental crimes, to ensure timely risk mitigation.

Money Laundering 109

Money Laundering Risk Crime Law Enforcement 109

PYMNTS

SEPTEMBER 30, 2020

House committee this week began reviewing the idea of allowing the likes of Amazon or Facebook to receive charters to operate as banks — an idea that’s already gotten plenty of pushback from traditional financial institutions (FIs). However, the banking industry doesn’t like that one bit. “We FDIC), the states and the courts.

Office of the Comptroller of the Currency 139

Office of the Comptroller of the Currency OCC Non-Bank Regulations 139

PYMNTS

JANUARY 25, 2021

The former CFO of Zalando SE, one of Europe’s most successful eCommerce retailers, Kemper was instrumental in leading the company’s IPO in 2014 on the Frankfurt stock exchange. Backed by billionaires Peter Thiel and Li Ka-Shing, N26 launched its first products in 2015 and is among Europe’s most valuable non-listed FinTechs.

FinTech 101

FinTech Non-Bank Product Transactions 101

Fintech News

MAY 13, 2024

Embedded insurance refers to the integration of insurance products into non-insurance platforms or experiences, such as e-commerce, travel or healthcare. In Singapore, AXA launched in 2017 an insurance-as-a-service (IaaS) API platform to link insurers and non-insurance retailers and enable embedded-insurance propositions.

Embedded Finance 113

Embedded Finance Non-Bank Consulting Finance 113

The Fintech Times

MARCH 18, 2025

Global insurtech bolttech has appointed Ridhi Chaudhary , chief investment officer, Dragon Fund by Liquidity and MUFG , to its board as a non-executive director. This expands a relationship which began in 2014. M&As OakNorth deepens support for US lower mid-market businesses with acquisition of Michigan-based, Community Unity Bank.

FinTech 59

FinTech Payment APIs and Integration Non-Bank APACS 59

CB Insights

SEPTEMBER 19, 2017

In 2014, 37% of all companies that achieved their first $1B+ valuation were based outside the US. We also charted the share of unicorns that have been added to the club each year since 2013 by location (US vs. non-US). 11/24/2014. China Development Industrial Bank, Tencent Holdings, Morningside Ventures. 10/23/2014.

Non-Bank 78

Non-Bank Online and Mobile Banking Technology Innovation 78

Fintech News

APRIL 3, 2024

Data from the World Bank’s Global Findex Database reveal that, in 2021, men were 6% points more likely than women to use digital payments, a gender gap that had remained consistent across developing economies since 2014 in part because of the broader gender gap in access to digital services.

Financial Inclusion 128

Financial Inclusion FinTech Financial Literacy Non-Bank 128

Fintech News

MARCH 26, 2024

The World Bank flagged in October 2023 that the region’s burgeoning economies would decelerate to 4.5% It offers a range of services including a white-label payment gateway for banks and institutions, and an all-inclusive payment gateway solution for merchants. #4

FinTech 104

FinTech APACS Payment APIs and Integration Multi-Currency 104

The Payments Association

MARCH 19, 2025

Optimus Prime,Transformers(2007) In the epic battle for the future of banking, financial institutions stand at a crossroads, much like the Autobots facing the Decepticons. Legacy core banking systems, monolithic and rigid, are the relics of a bygone erastable yet inflexible, like ancient Cybertronian relics buried beneath rust and time.

Non-Bank 88

Non-Bank Regulatory Compliance AI Risk 88

PYMNTS

SEPTEMBER 25, 2019

For the first time since East & Partners began surveying Australian small businesses about their future growth plans, researchers have found that entrepreneurs are more likely to turn to an alternative lender than a traditional bank for capital. Meanwhile, plans to use non-banks reached the highest level yet, with 18.7

Non-Bank 43

Non-Bank Small Business Research Finance 43

PYMNTS

MARCH 26, 2018

24 percent of Aussie SMBs use traditional banks for funding, down from 38 percent in 2014, Scottish Pacific’s report found. The data suggests entrepreneurs are taking the leap to FinTechs, with more than a fifth of SMBs surveyed saying non-bank lenders are their preferred choice for financing, up from 11 percent in 2014.

Small Business 77

Small Business Non-Bank Finance B2B 77

PYMNTS

NOVEMBER 23, 2018

Danske Bank, Denmark’s largest bank, is being investigated over what has been termed “massive money laundering flows” from Russia and several former Soviet states. The probes are ongoing and relate to transactions tied to the bank’s Estonian branch — and focus on $150 million that made its way through accounts of non-Estonian holders.

Non-Bank 57

Non-Bank Correspondent Bank Money Laundering Correspondent 57

PYMNTS

MARCH 12, 2020

Offering additional non-postal products and services at USPS retail facilities could provide consumer, government or community benefits, but viability may be limited,” the report states. In particular, some noted that USPS could provide a viable banking alternative for those lacking banking services.

Non-Bank 67

Non-Bank Government Governance Posting 67

FICO

SEPTEMBER 21, 2016

Online banking electronic payments fraud is on the rise, as fraudsters explore security gaps in the emerging banking channels. For instance, data released by Financial Fraud Action UK , shows that UK online banking fraud losses increased by 38% in 2014 from 2013, and by 64% in 2015 from 2014.

Payer 64

Payer Payee Fraud Detection Payments 64

FICO

MARCH 29, 2017

This new data follows a 546 percent increase in compromised ATMs from 2014 to 2015. Here’s some more details: About 60% of the compromises were at non-bank ATMs, such as those in convenience stores. The rest took place at bank ATMs or point-of-sale (POS) devices, such as card payment machines at retailers.

ATM 72

ATM Debit Card Compromise Point-of-Sale (POS) 72

Finovate

JANUARY 24, 2024

Open banking company Tink has launched its new rules-based risk engine, Risk Signals. Tink won Best of Show in its Finovate debut at FinovateEurope 2014. Open banking company Tink launched its new rules-based risk engine, Risk Signals this week. .” In the years since, Tink has grown into an open banking leader.

Settlement 64

Settlement Risk Payment Service Provider (PSP) Non-Bank 64

PYMNTS

MARCH 20, 2018

FinTechs and non-bank financial service providers are set to take over traditional banks as the preferred choice for small business (SMB) customers in Australia, a new report by Scottish Pacific found. Last December, Tyro, a bank-FinTech hybrid, launched in Australia after it landed a banking license in 2015.

Finance 47

Finance FinTech Non-Bank Small Business 47

PYMNTS

MAY 24, 2019

Baoshang Bank, based in Inner Mongolia, will be taken over by China’s banking and insurance regulator over critical credit risks, according to a report by Reuters. Takeovers of banks are rare in China, and this is the first one in almost 20 years. billion) at the end of 2016, which is a leap of 65 percent since 2014.

Regulations 63

Regulations Small Business Non-Bank Credit Risk 63

PYMNTS

JUNE 6, 2019

The Financial Times reports that a $647 billion “blind spot,” as measured by Barclays, exists in the financial reporting by Chinese banks — spanning both rural and commercial settings. The data as compiled by Barclays comes in the wake of the state takeover of Baoshang Bank. That is a 65 percent jump since 2014.

Non-Bank 43

Non-Bank Governance Government Credit Risk 43

Fintech Finance

FEBRUARY 6, 2024

Once this card payment central infrastructure is established as a part of NPS-NCS, banks and financial institutions in Nepal will be able to provide domestic NEPALPAY cards to their customers which will help increase acceptance, implement data localization and reduce transaction charges. billion people.

Interoperability 64

Interoperability Real Time Payments Non-Bank Financial Inclusion 64

Finovate

JUNE 17, 2024

The two are advancing their partnership to offer core banking and payment solutions to financial institutions. Core banking platform Thought Machine announced today it has extended its relationship with Mastercard this week. based Thought Machine has raised $563 million in funding since it was founded in 2014.

Visa 59

Visa Non-Bank Debit Card Participant 59

Fintech News

MARCH 6, 2024

Are digital first banks in Asia poised to lead a disruptive charge against well-entrenched, established commercial banks? In the traditional banking sphere globally, but especially true in Asia, there is a considerable proportion of unbanked and underbanked populations who lack complete or any access to banking services.

Online and Mobile Banking 136

Online and Mobile Banking Debit Card Non-Bank Push-to-Card 136

Fintech News

MAY 23, 2024

Confronted by shifting factors such as tech advancements, generative AI, high interest rates, increased institutional oversight, and evolving customer expectations — the best banks must adapt their business and operating models in 2024, including in Asia. CHINA #1 China Merchants Bank China Merchants Bank Co.,

Online and Mobile Banking 133

Online and Mobile Banking Treasury Non-Bank Credit Cards 133

PYMNTS

JANUARY 12, 2020

Following the 2016 incident of bogus accounts, regulators have been watching the bank closely and have handed down edicts that Wells Fargo has had trouble meeting due to obsolete methods and resources, past and current personnel told the WSJ. When “the app is down, the bank is down for our customers,” he said.

Office of the Comptroller of the Currency 58

Office of the Comptroller of the Currency Non-Bank Regulations Blocks 58

PYMNTS

DECEMBER 10, 2016

Lending Club’s model does not need bank branches on each street corner, and it can turn around in minutes and hours, not days. Laplanche is Renaud Laplanche, Lending Club’s colorful and highly quotable founder and first CEO, and he had that effect on a lot of people during the eight years between Lending Club’s IPO in 2014 and its beginnings.

Non-Bank 73

Non-Bank Compliance Push-to-Card Origination 73

FICO

APRIL 8, 2016

The FICO® Card Alert Service has just released some startling stats: The number of ATMs in the US compromised by criminals rose 546 percent in 2015 over 2014. The biggest targets were non-bank ATMs, such as those in convenience stores, where 10 times as many machines were compromised as in 2014. Interested in more?

ATM 45

ATM Compromise Card Issuer Non-Bank 45

PYMNTS

OCTOBER 10, 2017

9), found non-cash transactions are growing at a healthy rate — with volumes increasing 11.2 percent between 2014 and 2014 representing the highest growth in a decade, researchers said. Worldwide, non-cash wholesale transactions initiated by corporates is expected to increase at a CAGR of 6.5 Regional Trends.

B2B 49

B2B Cross-Border Non-Bank Payment APIs and Integration 49

Finovate

OCTOBER 4, 2024

Netherlands-based digital banking platform Plumery secured $3.3 Founded in 2022, Plumery offers a digital banking platform that enables businesses to rapidly customize and deploy their banking operations. This week’s edition of Finovate Global features recent fintech news and headlines from the Netherlands.

Innovation 64

Innovation AI Payment APIs and Integration Online and Mobile Banking 64

PYMNTS

NOVEMBER 14, 2018

A lawyer for the whistleblower in the Danske Bank money laundering scandal warns that investigators should look into whether major Western banks were involved. Danske Bank, Denmark’s largest bank, is being investigated over what has been termed “massive money laundering flows” from Russia and several former Soviet states.

Money Laundering 49

Money Laundering Law Enforcement Non-Bank Treasury 49

PYMNTS

NOVEMBER 4, 2016

Since 2000, there has been a 289 percent increase in the number of ATM terminals in Poland, to 20,531 ATMs in 2014. The PYMNTS.com Global Cash Index™ Poland Analysis also features an interview with Joanna Erdman, director of core service and non-banking products at mBank, one of the largest banks in Poland.

ATM 70

ATM Debit Card Non-Bank Mobile Payments 70

PYMNTS

SEPTEMBER 17, 2018

The fraudsters who hacked their way into the Bangladesh central bank two years ago got there by getting into software tied to the SWIFT financial platform. global ransomware attack and the 2014 attack on Sony Pictures Entertainment. The Bangladesh Bank Hack. The way they got there? The Methods.

SWIFT 75

SWIFT Phishing Ransomware Central Bank 75

Finovate

AUGUST 27, 2024

Community banks, regional banks, credit unions, CUSOs, non-bank lenders, and insurance carriers looking to reduce the cost and complexity of delivering great experiences across the enterprise. Banks and credit unions looking to drive business deposits and offer innovative digital tools to business clients.

Credit Union 52

Credit Union Non-Bank Account Takeovers Community Banks 52

PYMNTS

FEBRUARY 28, 2018

Reports out this morning indicated that a whistleblower inside Denmark’s biggest bank warned the institution that its Estonian branch was being used by members of the Putin family as a front for money laundering. It is also alleged that Danske Bank shut down 20 Russian customer accounts following that whistleblower report.

Money Laundering 45

Money Laundering Non-Bank Rules Authorization 45

The Fintech Times

SEPTEMBER 4, 2024

Appointments Malcom Finance ( formerly 4Trans) , a fintech company specialising in financial services for supply chain and logistics SMEs, has appointed the founder of Twisto as a non-executive director. The Bank of London has revealed that its founder, Anthony Watson CBE, is stepping down from his role as CEO.

FinTech 64

FinTech Non-Bank Cross-Border Reconciliation 64

The Fintech Times

SEPTEMBER 16, 2024

While oil and gas remain the backbone of Brunei’s economy, since 2010, the non-oil and gas private sector has grown by 2.6 Although there are at least seven commercial banks, only two of them compete for the majority of users. For example, last year, BIBD announced its plans to be a digital-first bank.

Economy 59

Economy Central Bank Non-Bank FinTech 59

PYMNTS

AUGUST 27, 2019

FS Vector’s partner John Collins — head of policy at Coinbase from September 2014 to January 2016 — will serve as Facebook’s lobbyist. . The members all made a non-binding promise to invest at least $10 million. billion people around the world without access to a bank account to the world of digital payments at low or no cost.

Cryptocurrency 57

Cryptocurrency Regulations Non-Bank Blockchain 57

The Fintech Times

JUNE 27, 2024

Appointments Atom bank , the UK app-based bank, appoints Gareth Jones as its new chief risk officer. He replaces Chris Sparks, who is retiring after nine years at the bank. Jones joins Atom bank from The Co-operative Bank , where he has worked for 26 years, most recently as chief risk officer.

FinTech 59

FinTech Non-Bank Online and Mobile Banking Participant 59