Author: hjenkins42

SWIFT chooses Google Cloud for collaboration The Society for Worldwide Interbank Financial Telecommunications (SWIFT) is collaborating with Google Cloud on its new network connectivity solution, Alliance Connect Virtual, Google announced Thursday. Alliance Connect Virtual will allow customers to connect to SWIFT directly from the public cloud. Specifically, it will allow banks to deploy traditional physical…

Core provider FIS offered a look behind the crypto curtain during its first-quarter earnings presentation Tuesday. Circle, the peer-to-peer payments company and issuer of USDC stablecoin, announced in April that it had selected FIS’ Worldpay platform for streamlined merchant acceptance of USDC, with crypto.com set to be the pilot customer. FIS President Stephanie Ferris said…

FinovateSpring is two weeks away! From May 18 through May 20, Finovate will bring its annual spring fintech conference to San Francisco, California for three days of live, IN PERSON, demos, keynotes, fireside chats, panel discussions, and debates. To whet your appetite for our upcoming event, here are five reasons why we’re convinced that FinovateSpring…

Robinhood unveiled its new stock lending feature, Stock Lending. The new offering enables investors to lend shares and receive passive income from borrowers. Stock Lending democratizes securities lending and provides Robinood with an additional revenue stream. Stock brokerage app Robinhood announced the launch of Stock Lending today, a new feature that will allow users to…

LexisNexis announced its acquisition of behavioral biometrics innovator BehavioSec. Terms of the deal were not disclosed. The acquisition adds to LexisNexis’ fraud and identity risk management capability following its 2018 acquisition of ThreatMetrix. Sweden-based BehavioSec won Best of Show in its Finovate debut at FinovateSpring in 2012. Yesterday we shared the news that Finovate newcomer…

This is a sponsored post by PwC, Gold sponsors of FinovateSpring 2022. Written by Vicki Huff, Global New Ventures & Innovation, TMT Vice Chair, PwC United States; Matthew Blumenfeld, Digital Assets Strategy Leader, PwC United States; and John Garvey, Global Financial Services Leader Principal, PwC United States. If the boom and accompanying volatility in cryptocurrencies and NFTs…

Automation, data management and compliance strategies were a focus of discussion last week at the Auto Finance Innovation and Auto Finance Risk Summits in San Diego. Chase Auto, Wells Fargo Auto and Mazda Financial Services plan to expand their automation efforts through new upgrades and investments. Chase, for one, is creating a digital journey that…

Here is our pick of the 3 most important Stablecoin news stories during the week. What happens if Stablecoins win! Privately issued stablecoins have now proven their ability to extend access to the dollar in  brand-new markets or previously partly dollarized economies such as Argentina or Venezuela.  So, far from weakening the US Dollar’s position as…

Truist has acquired mobile savings gamification app, Long Game. Long Game uses strategies from the prize-linked savings and mobile gamification worlds to drive customer engagement and increase brand loyalty for banks. Long Game won Best of Show in its Finovate debut last September at FinovateFall 2021 in New York. Terms of the deal were not…

India’s Kaleidofin closed a $15 million investment round this week. The funds bring the company’s total funding to almost $23 million. Kaleidofin will use the capital to launch and scale its lending arm, KaleidoCredit. India-based financial services provider Kaleidofin announced it has raised an additional $5 million in funding, adding to the $10 million investment…