Category: digital currencies

The number of organisations consistently applying a data encryption strategy has risen sharply in the space of a year, whilst many are finding it easier to locate the data they need for the job. Organisations reporting having a consistent, enterprise-wide encryption strategy in the Middle East leapt from 29 per cent to 63 per cent…

As access to smartphones, the internet and fintech becomes a larger reality within Africa, the continent is increasingly positioning itself as a highly lucrative marketing within the e-commerce industry, which according to StockApps, will reach annual revenue of $46.1billion by 2025. Africa is shaping up to be the next hotbed for internet-based businesses, currently worth…

Research from data firm CLV Group has shown that the so-called ‘Big Six’ football clubs in the Premier League: Manchester United, Manchester City, Liverpool. Arsenal, Tottenham and Chelsea; are not entirely in touch with their fans’ interests. The findings suggested these clubs are sitting on £275million of under-exploited partnership value in the crypto sector, £54million…

This special edition of The Fintech Times Bi-Weekly News Roundup brings you more news announcements from Money 20/20 Europe in Amsterdam this week. Mambu teams up with Western Union, Plazo and Allica Bank Cloud banking platform Mambu unveiled a trio of new collaborations at Money 20/20 Europe this week. Firstly, it has joined forces with…

A microservices approach can aid a financial institution’s cloud migration for its applications, given the numerous system connections of apps that must be navigated. The $531 billion Truist, formed by the late 2019 merger of BB&T and SunTrust, and $38 billion TIAA Bank shared with Bank Automation News how the banks are deploying “microservices,” which…

An academic paper studying anonymized administrative data from fintech lender Upstart Network found its alternative credit-decisioning model could widen the pool of potential borrowers more than traditional credit models. “Invisible Primes: Fintech Lending with Alternative Data” found that a traditional counterfactual model, developed in coordination with the Consumer Financial Protection Bureau (CFPB) and used for…

Commercial banks are focusing on a human-centric approach to relationships that may be holding them back when it comes to digitizing such basic functions as account opening. This more human approach is a challenge, Art Harrison, co-founder and chief growth officer for workflow automation vendor Daylight Automation, tells Bank Automation News in this episode of…

Backbase has raised $130 million in a series A round, the company announced this week. The self-styled “engagement banking” fintech provides a white-labeled platform for banks and credit unions that digitizes retail and business banking and counts $181 billion KeyBank and $153 billion Navy Federal Credit Union as banks that have “embraced” its products. Leading…

Klar, arguably the largest digital bank in Mexico, secured $70 million in equity funding this week. The investment – led by existing investor General Atlantic and featuring participation from Prosus Ventures, Quona Capital, Mouro, IFC, Acrew, and Endeavor Catalyst – gives the company a valuation of $500 million. Klar has raised more than $150 million…