Horizon Quantum Computing raises USD 18 million
The Paypers
APRIL 4, 2023
Singapore-based company Horizon Quantum Computing has raised USD 18 million in funding round for product development and expansion across Europe.
Tue.Apr 04, 2023
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ConnexPay takes aim at bigger rivals
Payments Dive
APRIL 4, 2023
The payments gateway startup, which handles acquiring and issuing, is positioning itself as a nimbler competitor to the likes of Stripe and Wex.
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Experts define challenges, growth factors in bitcoin ATM market
ATM Marketplace
APRIL 4, 2023
What's driving the bitcoin ATM market? There are several factors to consider including security and accessibility. However, there are also issues holding it back. Let's take a look at both.
Virgin Media restores internet service after outages across UK – as it happened
TheGuardian
APRIL 4, 2023
Company’s own website went down and internet was inaccessible for several hours. Follow all our live coverage of business, economics and financial markets It has not been a great day for companies bearing the Virgin brand. Virgin Orbit, the satellite launch company started by Sir Richard Branson, has filed for US bankruptcy protection. Last-ditch efforts to find funding for the struggling space firm fell through, the Guardian’s Kalyeena Makortoff reports.
Digital Transformation: Accelerating ROI and Growth in Commercial Lending
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Now is the time for lenders to prioritize their digital transformation initiatives in preparation for the lending rebound. Rising competition and ever-increasing customer demands for speed and efficiency are forcing financial institutions to embrace digital transformation. This shift can feel overwhelming—where do you begin? This infographic illustrates automation demands and shows you how loan document automation serves as an essential step to increase profits and provide the best lending exper
Pennsylvania appellate court rejects claim that dunning letter sent post-expiration of the statute of limitations violated law
CFPB Monitor
APRIL 4, 2023
On March 30, 2023, a three-judge panel of the Superior Court of Pennsylvania held in a precedential opinion that debt collectors can send collection letters to debtors after the expiration of the statute of limitations without violating federal or Pennsylvania law, so long as the debt collector does not file suit in court.
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CFPB final Section 1071 rule on small business data collection includes important changes from proposal; Ballard Spahr to hold webinar on April 17
CFPB Monitor
APRIL 4, 2023
On March 30, the Consumer Financial Protection Bureau issued its final rule to implement Section 1071 of the Dodd-Frank Act. Section 1071 amended the Equal Credit Opportunity Act to require financial institutions to collect and report certain data in connection with credit applications made by small businesses, including women- or minority-owned small businesses. .
Credit Suisse chair ‘truly sorry’ over downfall of 167-year-old bank
TheGuardian
APRIL 4, 2023
Boss apologises to investors for crisis that left bank with choice of UBS takeover or bankruptcy The chair of Credit Suisse has told shareholders at the 167-year-old bank’s last-ever annual general meeting that he is “truly sorry” that the lender failed to stem the crisis that led to its emergency takeover by UBS last month. Axel Lehmann told investors gathered in Zurich on Tuesday that bosses had legitimate plans to turn the bank around but had been “thwarted” by market panic over the wider hea
SVB collapse spurs demand for new solutions
BankInovation
APRIL 4, 2023
Financial institutions are working to fill the gaps brought to light by the failure of Silicon Valley Bank, bringing to market new deposit diversification solutions, treasury management tools and customer experience offerings. But existing solutions are also finding new demand, Brex Chief Financial and Chief Operating Officer Michael Tannenbaum told Bank Automation News.
Financial turmoil will be felt for years, says JP Morgan boss
TheGuardian
APRIL 4, 2023
Jamie Dimon says downfalls of Silicon Valley Bank and Credit Suisse have undermined confidence The financial turmoil that led to the downfall of Silicon Valley Bank in the US and Credit Suisse in Europe is not yet over and its effects will be felt for years, the boss of America’s biggest bank has warned. In an annual letter to JP Morgan’s shareholders, Jamie Dimon said last month’s failure of SVB and the Swiss government-brokered takeover of Credit Suisse by its rival UBS had undermined confiden
The State of Automation in Financial Services 2024 Report
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In this report, you’ll find a comprehensive analysis of survey responses from executives at banks, credit unions, and insurance companies concerning their organization’s current and future use of automation. The report’s key insights include: Which types of automation are saving organizations the most time and money How to overcome the biggest barriers to automation implementation and adoption Why automation investments will continue to grow over the next few years How much you could save in 202
Listen: How FIs can address data management challenges
BankInovation
APRIL 4, 2023
Proper data management is something all financial institutions strive for, but it is not easily achieved due to data siloes and drift.
Wyelands Bank rebuked by Bank of England for regulatory failings
TheGuardian
APRIL 4, 2023
Central bank decides against £8.5m fine because of collapsed firm’s ‘limited resources’ The Bank of England has issued a public reprimand to the Greensill-linked Wyelands Bank after discovering “wide-ranging significant regulatory failings” at the lender, which is owned by Sanjeev Gupta, boss of the troubled Liberty Steel. Wyelands was found to have breached a series of rules, including falling short on governance and risk controls, reporting its capital position incorrectly, and failing to reta
Kroll expands in South Africa
The Paypers
APRIL 4, 2023
US-based provider of risk and financial advisory solutions Kroll has opened a new office in Johannesburg, South Africa as part of its efforts to expand its services across Africa.
Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance
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Commercial lending is on the verge of a resurgence, but traditional processes are an obstacle. Explore the top 3 reasons for resistance to digital transformation and how overcoming them can pave the way for growth and efficiency. Discover why embracing automation and digital solutions is crucial for success in today's competitive landscape. Discover how GoDocs helps commercial lenders in the digital era with seamless integration and a borrower-focused approach.
Cellulant's to support online and offline payments in Africa
The Paypers
APRIL 4, 2023
Kenya-based fintech Cellulant has augmented how businesses in Africa make and receive payments by introducing online and offline payment solutions.
Neo Financial launches Neo Money card as a debit card alternative
The Paypers
APRIL 4, 2023
Canada-based fintech Neo Financial has rolled out the Neo Money card to offer the benefits of a chequing account, savings account, and rewards card for no annual fee.
Register Now: Sneak Peek Into Close Automation SkyStem Web Demo
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Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.
TerraPay raises USD 100 mln in series B round
The Paypers
APRIL 4, 2023
Netherlands-based fintech company TerraPay has raised USD 100 million in equity and debt financing to expand its payments infrastructure.
The banking crisis made tech startups rethink what they want in a bank
American Banker
APRIL 4, 2023
AMLYZE upgrades core product for AML-related processes
The Paypers
APRIL 4, 2023
Lithuania-based regtech AMLYZE has upgraded its core product that enables transaction monitoring, client risk-scoring and case management for AML-related processes.
Top 10 Benefits of Automating Loan Modifications for Commercial Lenders
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Get ready for the wave of $1.2 trillion in commercial debt maturing in the next 24 months with GoDocs' ModDocs® platform. Traditional loan modifications are slow, expensive, and prone to errors, which put lenders at risk. But with ModDocs®, you can enjoy an innovative solution that eliminates attorney fees, allows on-the-fly loan modifications, and ensures compliance.
Finance Incorporated Limited partners with ThetaRay
The Paypers
APRIL 4, 2023
Malta-based Finance Incorporated Limited has announced its partnership with ThetaRay to strengthen its AML framework and increase the volume of transaction data.
The failures of the bank resolution framework
The Banker
APRIL 4, 2023
Regulators’ murky, undefined ‘point of non-viability’ has led to instability, writes Tim Skeet.
Lloyds Bank partners with Enigio
The Paypers
APRIL 4, 2023
Lloyds Bank has partnered with Enigio to provide the usage of digital documentation in the trade finance industry by making use of blockchain technology.
2024 Lending Outlook: Innovations and Evolutions in the Financial Sector
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As we step into 2024, the lending landscape evolves rapidly with technology, regulations, and market dynamics driving change. For banks and financial institutions to stay competitive and meet the evolving needs of their customers, these drivers must be understood and engaged with. Lenders can anticipate significant transformation fueled by technological advancements, regulatory shifts, and changing consumer behaviors.
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