Category: Doing Business Overseas

Community banks and venture capital firms are joining forces through the newly launched BTech Consortium to help smaller financial institutions (FIs) invest in emerging fintech technologies to the tune of $100 million.   Through the consortium, banks will collectively invest funds to help power various technology initiatives, Cummings said, noting the current pool sits at…

Bryce Elliott, executive vice president and chief information officer for wholesale and enterprise payments technology at Truist, joined the speaker faculty for the Bank Automation Summit U.S. 2023 and will be part of the panel “Solving data expandability issues through cloud” on Thursday, March 2, at 9:15 a.m. ET. The panel discussion will dive into…

Truist Financial has launched Truist Trade, a self-directed investing solution that allows clients to open investment accounts and conduct online trading. The $534 billion bank unveiled the offering last week as an addition to its Truist Wealth portfolio, according to a Truist release. There are no minimum account requirements, along with commission-free trades for stocks,…

Financial institutions (FIs) looking to securely store data amid rising cybersecurity threats and open banking regulations can look to confidential computing, a technology that encrypts sensitive cloud-based data while it’s being processed.  Confidential computing is a fairly new technology that performs computations in a hardware-based, trusted execution environment (TEE), according to tech giant Intel Corporation.…

Business software company Quadient and process automation solutions company Esker have partnered with the French government via a joint subsidiary NCS. The partnership is designed to help businesses comply with new regulations governing the issuance and receipt of invoices between VAT taxpayers. Quadient most recently demoed its technology at FinovateEurope 2018 in London. Business software…

According to LexisNexis’ recent True Cost of Fraud Study, which looks at fraud trends in the financial services and lending sectors of the U.S. and Canada, the cost of fraud has grown significantly as the global pandemic has ebbed. The report noted that every dollar of fraud currently costs financial services companies in the U.S.…

Good news for fintech startups in developing markets! Quona Capital recently announced that it has closed its latest fintech fund, its third, at $332 million. The venture capital firm, which specializes in emerging markets, noted that the amount raised topped its target of $250 million. The new fund, Fund III, will be focused on companies…

One of the areas of fintech that has benefitted significantly from the rise of enabling technologies like AI and machine learning is compliance. From reducing the role of manual labor via automation to streamlining complex processes to make rules easier for companies to follow, both regtech firms and compliance teams alike play a major role…

The importance of customer experience has increased exponentially over the past few years as people bring more aspects of their lives online. This year, more than 65% of Americans are using digital banking as their preferred banking method, according to a May 2022 survey published by Statista. So, what does this mean? Financial institutions must…

Is this finally the end of the crypto saga? I can’t say that you read it here first, but I have been consistent within this column in refusing to believe in the crypto currency story. FTX might not actually be the archetypal financial con but a con it most certainly was whether by accident or…