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Credit Union Sues Fiserv Over ‘Baffling’ Security Lapses

PYMNTS

Bessemer System Federal Credit Union, a financial organization in Pennsylvania, is suing financial technology company Fiserv Solutions over what it calls rampant billing errors, significant bugs and “baffling” security lapses, according to reports. The credit union also says it will no longer use Fiserv. “To

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Bitcoin Daily: People’s Bank Of China To Certify Digital Payment Products; Korean Security Agency Supports Blockchain Projects With $9M Fund

PYMNTS

The People’s Bank of China announced that it will certify 11 types of financial technology hardware and software used for digital payment and blockchain services. In other news, the Korea Internet & Security Agency (KISA) announced that it plans to support blockchain-related projects in 2020 with 10.5

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Fintech Deals to Watch: Fall Festivities

Gonzobanker

Treasury management provider Dragonfly Financial Technologies launched independently from an ACI Worldwide sale. Core: Core-n Mazes and Hayrides FIS acquired embedded finance provider Bond Financial Technologies and announced plans to spin off merchant solutions (to be named Worldpay ).

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Mitek Upgrades Digital ID Verification With NFC Technology

PYMNTS

A major provider of financial technology to banks, Mitek Systems said its digital identity verification software will now incorporate near-field communication (NFC) technology as well. Mitek, a top developer of digital identity verification and mobile check deposit technology, announced on Thursday (Oct.

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Fintech Deals to Watch: Back to School

Gonzobanker

Engagement platform Personetics also secured $85M from Thoma Bravo Digital banking provider Apiture announced a fundraising round led by Live Oak Bank, Pinnacle Bank, and BHG Financial Digital banking provider Backbase raised $128.6M

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How FinTechs Help Companies Optimize Their Payments Acceptance Costs

PYMNTS

FinTechs, such as Modo, handle the technology and the data security issues. Companies don’t have to build this technology out themselves — they can rent it through a software-as-a-service (SaaS) model instead. The arrangement helps reduce a company’s capital expense and its ongoing expense from a technology perspective.

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JAGGAER Joins Forces With TransferMate On ‘Source to Settle’

PYMNTS

Software companies, financial technology firms and financial institutions collaborate with TransferMate, according to the announcement. In December, TransferMate of Ireland announced that it had secured the first of two payment licenses in South America as part of its growth effort.

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