FintechDaily – Page 424 – Fresh Dose of Fintech News

Ethos Collaborates with Thought Machine for Shariah-Compliant Banking Solutions

A new digital financial services provider, Ethos, has launched in the UK to offer Shariah-compliant services for Muslims. Ethos is utilizing cloud-based core banking technology...

Eurex Clearing Concludes DLT-Based Cash Settlement Trials in Collaboration with Banque de France

Eurex Clearing has successfully tested the settlement of cash over a distributed ledger operated by the Banque de France. These tests are part of the...

Americans Suffered $5.6 Billion in Crypto-Related Fraud in 2023

Americans lost over $5.6 billion to cryptocurrency-related fraud scams in 2023, marking a 45% increase from the previous year, according to the FBI. Although the...

OCBC Introduces P2P Pay-to-Wallet Service for International Remittances

OCBC has become the first mobile banking app in the Asia Pacific to utilize Visa Direct, allowing customers to send near-instant peer-to-peer transfers to Weixin...

UK Fintech Investment Plummets 37% in First Half of 2024

The decline in fintech investment continues into the first half of 2024, but signs suggest it may be stabilizing, according to new data from Innovate...

Equals Money and Zūm Rails Enter the BaaS Space

Equals Money, a provider of payment solutions for corporate expenses, has introduced a Banking-as-a-Service (BaaS) product that enables businesses to offer their own digital payment...

Payment Identity Network iPiD Raises $5.3 Million in Funding Round

Founded by a team of former Swift executives, iPiD (International Payment Identity) has secured $5.3 million to launch its Confirmation of Payee product across Europe....

CFPB Emphasizes Importance of Startups and Consumers in Open Banking Standard Development

The Consumer Financial Protection Bureau (CFPB) has made significant strides to promote open banking in the U.S. by finalizing a rule aimed at recognizing data-sharing...

Australia Implements New BNPL Regulations

Australia's government is preparing to introduce legislation requiring buy now, pay later (BNPL) providers to conduct basic credit checks on new customers. Recent trends show...

US Treasury Requests Input on Implementing AI in Financial Services

The US Department of the Treasury is inviting public input on the risks and opportunities associated with the use of AI in financial services. As...