FintechDaily – Page 54 – Fresh Dose of Fintech News

ACI Worldwide Reports 10% of UK Adults Fall Victim to Digital Wallet Fraud

Research by ACI Worldwide reveals that one in ten UK adults has fallen victim to online fraud over the past four years. With the rise...

DBank in Pakistan Secures $17.6 Million in Funding

Dbank, a Pakistani fintech established by two former Google employees, has successfully raised $17.6 million in a seed funding round co-led by Sequoia Southeast Asia...

Portage Readies $1 Billion Late-Stage Fintech Fund

Fintech investor Portage is seeking to raise up to $1 billion for a new fund targeting late-stage startups. The fund will focus on "structured opportunities"...

UK Emerges as Europe’s Hub for Card Fraud

The UK has been identified as the card fraud capital of Europe, experiencing more victims and greater financial losses than any other country on the...

Umba Acquires Majority Stake in Kenyan Microfinance Institution

Umba, a digital banking firm based in Nigeria, has acquired a 66.6% stake in the Kenyan microfinance bank Daraja as part of its strategic expansion...

Robinhood Reduces Workforce by 150 Employees

Stock trading app Robinhood has laid off another seven percent of its workforce, approximately 150 employees, according to the Wall Street Journal. With trading volumes...

Grasshopper, the Digital Bank, Secures $30.4 Million in Funding

Grasshopper, a US digital bank catering to SMEs and entrepreneurs, has successfully raised $30.4 million in funding. Investors in this round include Patriot Financial Partners,...

Banks to Pay $1 Billion for Traders’ Use of WhatsApp

A group of Wall Street banks is bracing to each pay up to $200 million to settle cases with the Securities and Exchange Commission (SEC)...

Up Bank Introduces Maybuy: A New BNPL Alternative

Australian neobank Up Bank has introduced Maybuy, a savings service intended as an alternative to the increasingly popular Buy Now Pay Later (BNPL) products. Maybuy...

Redwood Bank Achieves First Full-Year Profit as a Specialist Lender

Redwood, the British challenger bank catering to SMEs, has achieved full-year profitability less than five years after its launch. Founded in August 2017, Redwood was...