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Bank of America Turns to Electronification of Cash to Reduce Operational Costs

Bank Innovation

EXCLUSIVE – Bank of America seeks electronification of cash not only as way to better serve its banking customers but also as an excellent way to reduce costs: according to Bank of America CEO Brian Moynihan, this digitization of cash can save the bank billions of dollars.

America 218
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MercadoLibre: The ‘Amazon Of Latin America’ Spreads Its Wings

PYMNTS

In Latin America, such a company exists in the form of MercadoLibre , a triple-threat regional financial powerhouse based in Argentina. It now operates in 18 countries in Latin America. According to eMarketer, eCommerce made up about 4 percent of the total spent last year in Latin America, due mostly to its cash-heavy economy.

America 248
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TS Imagine Expands its Operations in Montréal

Bobsguide

Montréal, July 19, 2022 – TS Imagine , a global leader in trading, portfolio, and risk management solutions for capital markets, is expanding its presence in Canada with new facilities in Montréal to boost its North American operations and drive its international growth.

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SoftBank Launches New Tech Fund Focused On Latin America

PYMNTS

Per the report, SoftBank Chief Operating Officer Marcelo Claure will be in charge of the fund, with SoftBank committing an initial $2 billion. The new fund plans to invest in technology companies across Latin America, going after the same industries and sectors that SoftBank already invests in.

America 140
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London’s Paysend Licensed To Operate In Canada

PYMNTS

Paysend , a FinTech out of the U.K., has received a license to operate in Canada in a move that will expand the company’s global reach, according to reports. The company obtained a money service business (MSB) license in Canada, and it said the procurement of the license was its first step in expanding more deeply into North America.

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Uber Loses Ground In Latin America Amid Increased Competition

PYMNTS

Latin America is becoming a new weak spot for Uber, showing a 2 percent growth, the lowest of any region for the ride-hailing company, Reuters reported on Monday (Nov. Increased competition in Latin America, mainly from the Chinese ride-hailing giant Didi Chuxing, is being blamed for Uber’s growth slowdown in that region.

America 118
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Fintech Finastra Hit By Suspected Ransomware Attack

PYMNTS

Banking technology FinTech Finastra was hit with a security breach on Friday (March 20), and was forced to shutter key systems and send employees home, according to a report by KrebsonSecurity. The Finastra risk and security services team has detected anomalous activity on our systems,” wrote Tom Kilroy, Finastra ’s chief operating officer.

Fintech 276