Category: digital currencies

Financial institutions are implementing biometric solutions that can add layers of security, reduce fraud and provide a better understanding of client experience, however banks must integrate these solutions carefully, keeping compliance front and center and staying aware of fraud since the technology isn’t foolproof — not yet at least. In fact, alongside the surge in…

Banc of California acquired digital payments platform Deepstack Technologies on September 15 in a $24 million cash and stock deal that will expand its business into payment processing in a move to provide customers with detailed insights and tips to streamline their spending. The $8 billion Santa Ana, Calif.-based bank will use Deepstack’s API-driven payments…

The Consumer Financial Protection Bureau’s (CFPB) contested update to how it will assess bank practices could mean new business for regulatory technology (regtech) providers.  The March update to the CFPB’s Unfair, Deceptive, or Abusive Acts or Practices (UDAAP) examination manual would expand anti-discriminatory rules to include not only fair-lending laws, but also checking and savings…

Cash management innovator Jiko raised $40 million in Series B funding today. The company’s technology enables businesses of all sizes to store their cash in higher yielding “spendable T-bills.” Jiko also announced the launch of its Jiko Money Storage solution, which will soon enable 34/7 money movement on the Jiko Network. Among the more interesting…

Lloyd’s Lab announced the companies that join its ninth cohort in its ten-week program, from over 120 applications received. The selected teams won the adulation of an expert panel when presenting their ideas for insurance products and solutions for natural catastrophes, energy and construction. The selected solutions were geared towards new products that help the…

Crypto friendly banking platform Juno has raised $18 million. The Series A round was led by ParaFi Capital ‘s Growth Fund. The fundraising included a sizable number of investors including Greycroft, Antler Global, Hashed, Jump Crypto, Mithril, 6th Man Ventures, Abstract Ventures,, and Uncorrelated Fund. As part of the investment, Juno announced the launch of…

It may just be that banking-as-a-service (BaaS) providers and fintechs have grown into unique and now mature collaborators that justify updated and revised requirements from regulators. Earlier this month, Acting Comptroller of the Currency Michael J. Hsu spoke at The Clearing House and Bank Policy Institute’s Annual Conference, outlining the Office of the Comptroller of…

Banking-as-a-service (BaaS) provider Treasury Prime connects banks and fintechs to improve customer experience and build relationships. Treasury Prime’s platform, which connects through APIs to a bank’s core, allows for money movement and sits between buying versus building, Jeff Nowicki, vice president of banking, tells Bank Automation News in this episode of “The Buzz” podcast. “We…

TD Asset Management (TDAM) and cloud infrastructure platform Beacon announced a new partnership today to build new capabilities and scale existing workflows for TD Bank’s $398 billion investment arm. New York City-based Beacon implements its cloud-native and cloud-agnostic platform for financial institutions, saving them from hiring tech talent to build and maintain in-house platforms, Beacon…

Embedded finance player Railsr closed a $46 million Series C round comprised of $26 million in equity and $20 million in debt. Company CEO and Co-founder Nigel Verdon is calling the investment “a significant step” in the company’s route to profitability. The new capital brings Railsr’s total funding to $187 million. Four months after rebranding…