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STC Pay, Moven Team Up To Launch Saudi Challenger Bank

PYMNTS

The founder of Moven, Brett King, said the new venture would be a “world-class” bank, and that it would set its sights on the Gulf Cooperation Council (GCC) region. STC Pay, which does financial technology work for both companies and individuals, works with the Saudi Arabian Monetary Agency.

Regional 222
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Brazil’s Big Blockchain Bounce (And Other Digital Payments Advances)

PYMNTS

Digital enterprises are going regional and instant payments are going national (and earlier than originally scheduled). Nubank’s $10B Regional Expansion . The BCB has officially unveiled details of its newly developed blockchain platform, Pier, designed to facilitate information exchange between financial regulators.

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Singapore’s Big Week In Blockchain Progress

PYMNTS

The Asia-Pacific region is a rising star in FinTech innovation, but this week, the blockchain spotlight landed on Singapore as more distributed ledger initiatives from the private and public sectors took major steps forward. The companies expect to launch the platform in the first quarter of 2018. The Singapore-Philippines Agreement.

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LendingClub Settles With SEC, DOJ

PYMNTS

As technology continues to provide more creative means for financial transactions, so, too, must financial technology companies be careful to abide by the rules that ensure stability and fairness in these emerging markets.” LendingClub has agreed to pay a $2 million civil penalty to settle the matter. “As The Aftershocks.

Lending 135
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Lessons From The Failed Chatbot Revolution — And 5 Industries Where The Tech Is Making A Comeback

CB Insights

By 2018, news coverage of chatbots was in decline. Mentions of chatbot tech on public company earnings calls peaked in early 2018, but fell to nearly half that by the end of the year. In January 2018, Facebook closed down M. Google similarly admitted that it used humans in call centers to make its assistant work.