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Varo Achieves Milestone AsĀ First Consumer FinTech To Get National Charter

PYMNTS

Colin Walsh got lots of laughs five years ago when he talked of his intention to launch a financial technology (FinTech) startup. On Friday (July 31), the Office of the Comptroller of the Currency (OCC) announced Varo Bank has been granted its full-service national bank charter. OCC is an independent bureau of the U.S.

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Czech Banks To Invest $260M Into National Development Fund

PYMNTS

Czech Prime Minister Andrej Babis has proposed a national development fund to help invest in social issues, digitization of the economy, education and transportation, according to a report by Reuters. million) to put into the fund. The association said the fund should be independent and fully professional. .

National 108
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FDIC issues final rule on brokered deposits and interest rate limits applicable to less than well capitalized institutions

CFPB Monitor

The FDIC has issued a final rule that establishes a new framework for analyzing whether deposits made through deposit arrangements qualify as ā€œbrokered depositsā€ and amends the methodology for calculating the interest rate restrictions that apply to less than well capitalized insured depository institutions (IDIs). Interest rate limits.

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SoftBank Earmarks $1B For eCommerce, Healthcare And FinTech In LatAm

PYMNTS

SoftBank has so far earmarked $100 million to $150 million to fund 17 companies and two venture capital firms. . ā€œWe Freire added that Argentina, Brazil, Chile, Colombia and Mexico ā€œare in the spotlight,ā€ and thereā€™s no ā€œpreset amount by nation.ā€. In addition, it will continue direct investments in venture capital firms.

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Singapore Eases Regulations Over Venture Capitalists

PYMNTS

Singapore is changing its rules on venture capital in an effort to support economic growth, reports said this week. Singapore’s central bank will no longer require venture capital managers to appoint directors that have at least five years of fund management experience as they have been.

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VCs And SPACs Raise $1B+ To Invest In Cloud, AI And More Despite Pandemic

PYMNTS

Despite wide-ranging economic uncertainties and a challenging investment environment, venture capital (VC) firms and special purpose acquisition companies (SPACs) are actively raising or seeking fresh funds for investment in the payments space. It also plans to invest in companies where technology is a clear differentiator.

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Today In Digital-First Banking: Sea Purchases Indonesian Bank BKE; PSCU Extends Partnership With Fiserv

PYMNTS

As it stands, PSCU works with CUs throughout the nation and helps with more than 5.4 Vietnamā€™s MoMo, the digital wallet company, has raised $100 million from a collection of six investors co-led by Goodwater Capital and Warburg Pincus. billion transactions annually.