Author: hjenkins42

Raisin Bank has agreed to acquire the payment division of Bankhaus August Lenz. The move will help Raisin Bank diversify its revenue sources by adding payment services to its product lineup. Terms of the deal were not disclosed. Banking-as-a-service player Raisin Bank is adding cash and payment services to its product lineup. This comes as…

The judgment in Tulip Trading Ltd v Bitcoin Association for BSV and Others sheds light on the legal relationship between the software developers behind various bitcoin networks and their participants. Notably, the court found that there was no case to be made that the developers had a duty to take action to undo the effects…

In January 2000, global financial markets were on the verge of a meltdown that was expected to destroy both the reputations of investors and the riches of day traders, that invested in companies and tech stocks that weren’t generating any revenue. The “dotcom” crash caused a stock market meltdown. Between 1995 and 2000, Nasdaq climbed…

This week’s edition of Finovate Global takes a look at two Finovate alums that are helping support fintech innovation in the Middle East and Africa. First up is engagement banking platform provider Backbase. The four-time Finovate Best of Show award-winning company announced this week that it has forged a new partnership with Bahrain FinTech Bay…

Banks are being challenged by deciphering between their customers and cybercriminals amid a push to provide robust digital experiences. A collaborative effort is required to verify identities, according to solutions presented at the recent Federal Deposit Insurance Corp. (FDIC) FDITECH Sprint, which sought solutions on modernizing digital identity proofing or verification for remote customers. The…

Are happy days here again for cryptocurrency? Crypto platforms and coins have taken severe hits in what can only be described as a pessimistic market: Crypto giant Coinbase reduced its workforce by 1,100 in the second quarter, while executives from exchange platform Gemini noted the onset of market instability as cause for a 10% staff…

ECB Calls Crisis Meeting on Yield divergence Last week the ECB convened an emergency meeting in order to discuss the widening yield gap between the weaker and stronger members of the Eurozone. There is nothing new about this. By all accounts they kicked the subject about and then did very little.  In particular however they…

Innovation and regulation are the ying and yang of financial technology in many respects. To this end, we caught up with Justin Beals, co-founder and CEO of Strike Graph, to talk about the relationship between fintech innovation and fintech regulation, and why compliance is something that successful fintechs are taking seriously. Founded in 2020 and…

Data across the board shows continued growth for commercial and industrial loans since the last months of 2021. A recent Federal Reserve survey shows that during the fourth quarter, a net 21.7% of bank loan officers reported higher demand for commercial and industrial loans, up from a net 7.6% who said the same three months…

Robotic process automation (RPA) initiatives have created “millions of dollars” in value for BMO Financial Group, but the bank’s efforts are now shifting to automation for risk and cybersecurity. A digital workforce of bots has saved countless labor hours at BMO Financial Group, the U.S. subsidiary of $805.9 billion BMO, via automation of manual workflows,…