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Finovate Fall 2017 Day One: Data Analytics, ID Verification, and Cybersecurity

Bank Innovation

Finovate kicked off its 2017 Fall conference with demos from about 40 financial technology companies on its first day yesterday in New York.

Analytics 252
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Taking Real-Time Payment Rails To The Tipping Point

PYMNTS

The aim of creating this system was both to provide more speed and security to the country’s merchants. Financial technology provider Fiserv has devised a technology that allows individuals to accept payments on consumer-grade smartphones and other digital devices, as well as handheld business point-of-sale (POS) systems.

Payments 304
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Goldman spinoff Simon tops $800 million as WestCap invests

BankInovation

Simon Markets, a financial-technology platform that spun out of Goldman Sachs Group Inc., secured up to $100 million in a financing round led by growth equity firm WestCap.

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Some SMBs Switched Banks When PPP Loans Failed To Come Through

PYMNTS

needed financial help in April as the pandemic led to a loss of customers, founder Pavia Rosati turned to her bank, Capital One Financial Corp., But the New York consulting firm was on its own because Capital One wasn’t prepared to accept applications for the Paycheck Protection Program (PPP) when it launched.

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SWIFT, Microsoft, BNY Mellon Team For Cloud Payments

PYMNTS

SWIFT and Microsoft have partnered with Bank of New York Mellon (BNY Mellon) to finalize the trial of Cloud Connect, a new payments solution, BNY Mellon announced in a press release on Tuesday (Sept. The new solution will service SWIFT’s 11,000 financial institutions in over 200 countries. “We

Payments 119
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MyPayrollHR Founder Faces $70M Fraud Charge

PYMNTS

The CEO and founder of the New York payroll company MyPayrollHR was arrested and charged Monday (Sept. Michael Mann, 49, allegedly obtained millions in bank loans and lines of credit over the last decade that he diverted to fake companies, the United States Attorney for the Northern District of New York said in a statement.

Fraud 133
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Bitcoin Daily: Speedy Crypto Exchange Launched By Former Morgan Stanley Developers; Starling Bank Co-founder Joins Winklevoss’ Gemini Trust

PYMNTS

In other news, Gemini Trust , the crypto exchange founded by Cameron and Tyler Winklevoss, has hired Julian Sawyer, the co-founder of U.K. This is the latest hire for Gemini, which has brought on executives from the New York Stock Exchange (NYSE) and International Securities Exchange (ISE) over the past 18 months.

Bitcoin 131