Citi, Flywire move $2M to secure PPE for Boston hospitals
BankInovation
MAY 13, 2020
A partnership between Citi Commercial Bank and payments fintech Flywire benefited Boston health care workers last month.
Banks Need FinTech To Stay Competitive – And Secure
PYMNTS
DECEMBER 29, 2016
FinTech Continues Its Disruption. Traditional banks have continued their sloth-like pace in FinTech adoption, added Galarza, which has led corporates to seek innovative services from non-bank players. “In The time for this radical shift is now,” Boston Consulting Group declared. But Banks Continue To Thrive.
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Boston Fed Takes On Cyber Risks, FinTech Competition
PYMNTS
APRIL 5, 2016
Federal Reserve Bank of Boston President Eric Rosengren delivered a speech yesterday (April 4) at the bank’s 2016 Cybersecurity Conference highlighting the economic and cyber risks financial institutions are facing today.
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Listen: Akoya’s head of solutions speaks on ‘de-risking’ open finance
BankInovation
MAY 20, 2022
Before inking deals with the nation’s biggest banks and financial institutions, fintech Akoya was focused on secure open finance. The Boston-based fintech, which originated as an application programming interface (API) division under Fidelity Investments, is now owned by several banks, including the $3.24
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Merchants Ready For Open Banking — And Its New Laws — To Impact US Rollout
PYMNTS
NOVEMBER 4, 2020
the Federal Reserve Bank of Boston said, “To date, U.S. This figure includes new users of online banking platforms or money management FinTechs, services that are covered under U.K. It’s part of that “stand back” posture the Boston Fed noted in its March brief. Artisanal APIs Derive From Deep Merchant Data.
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Federal Reserve’s Cunha on the State (and Timeframe) of Digital Dollars
PYMNTS
AUGUST 21, 2020
Earlier this month, as PYMNTS noted , the Federal Reserve said its Boston bank is working with the Massachusetts Institute of Technology (MIT) to explore the possibility of issuing digital currency. And there’ll be quite a bit of tinkering with the technology (especially the infrastructure) and the use cases to get there.
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Flywire Expands to International B2B Payments
Bank Innovation
MARCH 17, 2017
Boston-based money transfer firm Flywire has launched a new offering, targeted at international business-to-business (or B2B) payments. The fintech will enable faster settlement between businesses, seeking to make those transaction “local.”
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SEC Charges Founder Of Mozido With Defrauding Investors
PYMNTS
APRIL 2, 2018
The Securities and Exchange Commission (SEC) announced news on Monday (April 2) that it charged Michael Liberty, the founder of Mozido , the FinTech startup, with scamming investors out of their money.
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Crypto 2020: One Step Up; Two Steps Back
PYMNTS
DECEMBER 24, 2020
Said Allaire of the bid to get digital currencies more front and center: “Regulators are getting their arms around them … the digital asset market is now moving, more and more, into the mainstream of finance, FinTech payments and banking world.”. And, of course, the crypto landscape extends well beyond bitcoin.
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Metro Joins Bacs For SMB Direct Debits
PYMNTS
FEBRUARY 5, 2020
operated Bacs and partnered with Boston payments firm Bottomline Technologies to enable direct debits for small to medium-sized businesses (SMBs), Metro announced on Wednesday (Feb. Direct debit is widely considered to be among the most secure and cost-effective ways to handle payments and most minor SMBs don’t have access to it. .
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Today In Payments: $50B In Crypto Moved Out Of China; Uber Health To Deliver Meds
PYMNTS
AUGUST 21, 2020
Jim Cunha, senior vice president of secure payments and FinTech at the Federal Reserve Bank of Boston, tells Karen Webster why the Fed is working with MIT to explore digital dollars. Federal Reserve’s Cunha on the State (and Timeframe) of Digital Dollars. Central bank digital currencies (CBDC) are here to stay — if they work.
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EU Bankers Weigh Risks, Rewards of CBDC – and Cash’s Staying Power
PYMNTS
SEPTEMBER 15, 2020
And here in the States, as detailed in an interview with Karen Webster, Jim Cunha , senior vice president, secure payments and fintech at the Federal Reserve Bank of Boston, told Karen Webster the joint efforts between the Fed and MIT are focused on exploring the infrastructure that would conceivably underly digital dollars.
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SoFi-Social Capital Merger Will Fuel Growth Of One-Stop-Shop Financial Supermarket
PYMNTS
JANUARY 7, 2021
Online FinTech startup SoFi announced Thursday (Jan. billion, and also expanded internationally by purchasing Hong Kong-based investment app 8 Securities. The FinTech IPO Market. 7) that it was merging with publicly-traded Social Capital in an $8.6 Earlier this year, SoFi acquired payments firm Galileo for $1.2
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Australia Central Bank Sees No ‘Public Policy’ Case For CBDC (For Now)
PYMNTS
SEPTEMBER 17, 2020
In an interview with Karen Webster, Jim Cunha, senior vice president, secure payments and FinTech at the Federal Reserve Bank of Boston — discussing joint efforts between the Fed and MIT to explore infrastructure that might underpin digital dollars — said, “Anywhere where you have a cash transaction can be a possible use case.”.
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The Lures – And Challenges – Of Central Bank Digital Currencies
PYMNTS
OCTOBER 9, 2020
And we’re not talking about the myriad of cryptos that have popped up hither and yon, offered by private companies across what is still a Wild West for issuance (with no real set of security principles, yet) and scattered use cases. of course, is not standing still. The Federal Reserve Bank has been exploring a digital currency.
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175 Top News In Payments: Brex Unveils Management Account; Saga Teams With Marcus For Savings Accounts
PYMNTS
OCTOBER 3, 2019
Today in the payments news roundup, FinTech startup Brex is launching a business cash management account to take the place of traditional business bank accounts. The rivalry between cybercriminals and the fraud and security teams at banks, which are tasked with stopping their attacks, is incredibly lopsided.
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FedNow’s Montgomery: Gearing Up For 2023-24 — And Instant Payments Competition
PYMNTS
OCTOBER 12, 2020
In an interview with Karen Webster, Boston Federal Reserve Chief Operating Officer and FedNow Program Executive Ken Montgomery said the central bank’s ambitious payments initiative remains on track — and will inject competition into the instant payments market. He noted there has been additional input from the FedNow Community of 700 members.
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VP Of The ABA Shares Same Day ACH Perspective
PYMNTS
AUGUST 3, 2016
For the August edition of the PYMNTS.com Faster Payments Tracker™, powered by NACHA, PYMNTS interviewed Steve Kenneally, Vice President of the American Bankers Association, to get his take on this important step forward for banks, FinTech players, businesses and customers. Here’s a sneak peek: One central reason Kenneally expects Sept.
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‘Google Checking,’ T-Mobile Data Breach Top This Week’s News
PYMNTS
NOVEMBER 29, 2019
The data did not reportedly include password information, Social Security numbers or financial information. Does ‘Google Checking’ Foreshadow Big Tech, FinTech Payments Changes? 25) that it secured $1 billion in new funds from Japan’s SoftBank and China’s Alibaba affiliate Ant. That’s how Silicon Valley feels right now.”.
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How Innovative mPOS Is Paving The Way To A Self-Checkout Future
PYMNTS
FEBRUARY 4, 2019
The deal, which was announced by the company in January, marked a landmark occasion in the FinTech sector. The finding was reported by Boston Retail Partners in its 20th annual POS/Customer Engagement Benchmark Survey. The furniture itself is protected by an array of sensor technologies and security cameras.).
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US B2B Startups Dominate $337 Million Worth Of Funding
PYMNTS
MARCH 30, 2018
Boston-based PreVeil did not disclose how much it raised in its Series A funding round, but it did note that Spark Capital provided the funding to support the company’s email and file security solution. Kenna Security. PYMNTS breaks down the latest deals below. Cybersecurity. Back-Office. ServiceTitan.
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The Best Opportunities for Retail Banks to Improve Customer Experience
Cisco
MAY 29, 2019
And it’s not just about happy customers… Boston Consulting Group data indicates personalizing customer journeys can lead to a 10-30% increase in revenue. Features such as end-to-end online account opening and simple, secure ID verification tell customers “we see you, and we value your time.” Financial Services at Cisco Live 2019.
Model Bank 2017: Small Business and Corporate Digital Innovation Themes
Celent Banking
FEBRUARY 24, 2017
Creating a consolidated point of access for all corporate banking services using portal technology that eliminates the need for multiple logins and security procedures was just one of the types of initiatives that were submitted. I look forward to seeing you there.
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Top 15 Online Digital Corporate Credit Cards for Small Businesses (June 2021)
Fintech Labs Insights
JUNE 17, 2021
Notes : *FAB score = Fintech Attention Barometer , a proprietary measure calculated by Fintech Labs. HQ: Boston. First Look at Brex, Fintech’s Youngest Unicorn. Security UX: Suspicious Activity Feedback Loop. Expensify **. 1,060,000. Divvy (Bill.com). Tribal Credit. Bento for Business. FunnelDash.
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Top 15 Online Digital Corporate Credit Cards for Small Businesses (June 2021)
Fintech Labs Insights
JUNE 17, 2021
Notes : *FAB score = Fintech Attention Barometer , a proprietary measure calculated by Fintech Labs. HQ: Boston. First Look at Brex, Fintech’s Youngest Unicorn. Security UX: Suspicious Activity Feedback Loop. Expensify **. 1,060,000. Divvy (Bill.com). Tribal Credit. Bento for Business. FunnelDash.
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The Best Opportunities for Retail Banks to Improve Customer Experience
Cisco
MAY 29, 2019
And it’s not just about happy customers… Boston Consulting Group data indicates personalizing customer journeys can lead to a 10-30% increase in revenue. Features such as end-to-end online account opening and simple, secure ID verification tell customers “we see you, and we value your time.” Financial Services at Cisco Live 2019.
Fintech Fundings: 28 Companies Raise $220 Million Week Ending March 25
Fintech Labs Insights
MARCH 28, 2016
For the 12th consecutive week, there were 20+ fintech fundings worldwide. The number of deals was inflated somewhat by the six new fintech companies launched at YC’s demo day that we had not previously covered. Here are the fintech deals by size from 19 March to 25 March 2016: Open Lending. HQ: Boston, Massachusetts.
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12 How next-generation technologies are transforming governance, risk and compliance
Insights on Business
NOVEMBER 12, 2018
According to the Boston Consulting Group , there have been more than $321 billion in regulatory compliance penalties levied globally since the financial crisis of 2007- 2008. Beyond ensuring compliance, executives are often preoccupied with the substantial organizational and business challenges in developing and implementing effective GRC.
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Fintech Fundings: 32 Companies Raise $210 Million Second Week of July
Fintech Labs Insights
AUGUST 8, 2016
There has been an average of 28 fintech deals per week this year. Fintech deals by size from 9 July to 15 July, 2016: Blockchain Intelligence Group. HQ: Boston, Massachusetts. The post Fintech Fundings: 32 Companies Raise $210 Million Second Week of July appeared first on Finovate. Total dollars raised YTD is $18.1
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Fintech Fundings: 22 Companies Raise $300 Million Plus 2 IPOs Raise $5.9 Billion
Fintech Labs Insights
OCTOBER 19, 2015
It was a blockbuster week in fintech with more than $6 billion in new funds flowing to the sector. Secure messaging for financial services. HQ: Boston, Massecheusetts. The post Fintech Fundings: 22 Companies Raise $300 Million Plus 2 IPOs Raise $5.9 The vast majority, $5.9 billion) and First Data ($2.6 Source: Finovate.
An Open Road For Open Banking?
PYMNTS
NOVEMBER 9, 2020
In banking, collaboration — between the traditional players like banks and the tech savvy FinTechs bringing a slew of new apps to market — is key. Open banking at its basic level refers to parties sharing financial data — between banks and FinTechs or other third parties — through digital means with the account holders’ explicit consent.
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SaaS Lands Biggest B2B FinTech Funding This Week
PYMNTS
MARCH 17, 2017
The B2B FinTech investment space has been relatively slow in recent months, but U.S. Companies across the enterprise security, SME banking and even workplace communication (think WhatsApp for the enterprise) sectors all landed funding, but nearly 80 percent of the funding went to a single company in the software-as-a-service (SaaS) arena.
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Fintech Fundings: 28 Companies Raise $330 Million Week Ending Jan 15
Fintech Labs Insights
JANUARY 18, 2016
Year-to-date fintech companies have raised $450 million in new equity, 67% more than the $270 million raised in the first half of January 2015. Blockchain technology for securities. HQ: Boston, Massachusetts. The post Fintech Fundings: 28 Companies Raise $330 Million Week Ending Jan 15 appeared first on Finovate.
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12 Hoyos Labs Unveils 4F Smartphone Authentication Technology
Fintech Labs Insights
OCTOBER 14, 2015
Using facial, voice, and fingerprint technologies – such as 4F – Hoyos specializes in mobile biometric authentication solutions, seeking to move digital asset security beyond the world of passcodes, PINs, and tokens. Hoyos Labs joined the FIDO Alliance in March. The company demoed its technology at FinovateFall 2014.
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Efficiency now: 8 smart strategy tips
Independent Banker
JULY 31, 2022
During the pandemic, the Fed bought up massive numbers of mortgage-backed securities, with banks enjoying unprecedented sales levels and gain on sales margins. The days of people coming in to cash their Social Security checks—those are pretty much gone. Forge partnerships, especially with fintechs. Strengthen controls.
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FinovateSpring 2016 Live Blog – Day 2
William Mills
MAY 11, 2016
It’s all done through the smartphone, with bank-level security. Presenting a programmable cloud – a fintech platform. ^KT. This is a leading bank in Russia, with a track record of fintech innovation. Chip card reader for when customers are shopping online to improve security. Adds in Social security.
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Payment Rails Present Many Paths To B2B Payments Optimization
PYMNTS
MAY 12, 2020
Montgomery, the Federal Reserve Bank of Boston’s first vice president and chief operating officer and FedNow program executive, said the community “will help influence FedNow Service design and our development roadmap by providing input on desired service features, technology and implementation plans.”. In a statement, Kenneth C.
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In FinServ’s World Of Strict Rules, Data Management Flexibility Is Key
PYMNTS
JUNE 11, 2018
Analysts at Boston Consulting Group estimated earlier this year that novel digital financial services platforms like ePayments, cross-border transactions and supply chain financing will yield nearly a third of corporate banking revenue. One technology startup, Devo, secured $25 million for its products and services in this market.
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Strategic Insight Buys BrightScope for Reported $35+ Million
Fintech Labs Insights
NOVEMBER 2, 2016
Strategic Insight was founded in 1989 and is headquartered in New York City, with offices in Boston, San Francisco, Samford, Connecticut, as well as around the world in the U.K., Securities and Exchange Commission (SEC). Germany, and Canada. The firm has more than 250 U.S.
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12 Hoyos Labs Rebrands as Veridium, Launches New Biometric Authentication Solution
Fintech Labs Insights
SEPTEMBER 19, 2016
With the launch of its new, end-to-end biometric authentication solution – VeridiumID – the security innovator that demoed its technology at FinovateFall 2014 as Hoyos Labs is now Veridium. Oxford and London), as well as in Boston, Massachusetts; and Timisoara, Romania. The company also has offices in the U.K.
Loop-Powered Samsung Pay Launches
Fintech Labs Insights
AUGUST 14, 2015
LoopPay’s magnetic secure transmission (MST) technology enables mobile devices to communicate with the mag stripe readers of point-of-sale payment terminals. ” LoopPay was founded in August 2013 and remains headquartered in Boston, Massachusetts post-acquisition.
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AvidXchange: Automating HOA Payables Is Harder Than It Sounds
PYMNTS
MAY 16, 2018
If one board member splits time between Florida and Boston, it can hold up approval until that person is available to sign. The FinTech automates invoice management and payment processes for several HOA management companies today, and its recent partnership with Bradenton, Florida-based Premier Community Bank will build on that, Praeger said.
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100 Emerging Innovation in Banking
Celent Banking
MARCH 28, 2017
Over the past few weeks we have been previewing various content themes we will be discussing at our Insight and Innovation Day in Boston on April 4th. Biometrics: banks are stepping up their efforts to deploy biometric authentication in their bid to provide customers more convenience while ensuring security. See you in Boston!
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100 Finovate Spring 2018 – Day 2
William Mills
MAY 9, 2018
There are a number of great events in FinTech but this one I do my best to attend each year. HQ: Boston, MA. Product distribution strategy: Through financial institutions, through other fintech companies and platforms. Fiserv is one of the top two US FinTech companies focusing mainly on core systems. Founded: August 2017.
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