FedNow won’t bring ‘tidal wave’ of change
Payments Dive
APRIL 21, 2023
“Payments solutions reach scale when they provide better usability, affordability, and security,” write partners at a San Francisco venture capital firm.
San Francisco Official Wants Tax On Robots That Put People Out Of Work
PYMNTS
SEPTEMBER 5, 2017
With a growing number of automated machines performing jobs and tasks that could eliminate jobs, one San Francisco official is pushing a statewide “tax” in California on robots that put people out of work. For some, though, the issue is more about safety than job security. jobs are lost to automation.
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Anchorage Digital launches institutional self-custody wallet
American Banker
FEBRUARY 28, 2024
The San Francisco-based technology company says its new product, Porto, will let investors securely trade more than 200 currencies using multilayered approval systems and biometric credentials.
PLI 24th Annual Consumer Financial Services Institute, San Francisco and Live Webcast – 25% discount available
CFPB Monitor
NOVEMBER 6, 2019
The third location of PLI’s 24th Annual Consumer Financial Services Institute will take place in PLI’s San Francisco Conference facility and via concurrent live Webcast on December 9-10, 2019 in San Francisco (and by live webcast). Privacy and data security issues. TCPA developments.
Amazon Launches Wi-Fi Security Subscriptions
PYMNTS
AUGUST 27, 2019
Amazon is rolling out new subscriptions for eero , the security service that it acquired last year. Founded in San Francisco in 2014, eero’s systems blanket every room of a customer’s home using high-performing, reliable Wi-Fi. eero Secure is available for $2.99 per year, while eero Secure+ is available for $9.99
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FitPay Founder & COO Michael Orlando Joins Bank Innovation 2018
Bank Innovation
JANUARY 12, 2018
EXCLUSIVE- Michael Orlando, founder of FitPay, a provider of payment technology for wearables, has joined the speaker faculty for Bank Innovation 2018, which takes place March 5-6 in San Francisco. The company went on to be acquired by security technology company Next-ID Inc., Orlando founded FitPay in 2014.
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Contactless Payment Platform FitPay Gears Up for Next Growth Phase
Bank Innovation
SEPTEMBER 12, 2017
EXCLUSIVE – When the co-founders of FitPay, a contactless payment technology provider, agreed to be acquired by security tech company NXT-ID back in May, the primary goal behind the deal was to enable growth for the San Francisco-based startup. And grow it did.
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I didn’t leave my heart in San Francisco…
Celent Banking
SEPTEMBER 7, 2015
Some of the quirks were allegedly to improve security, yet offered no perceivable additional security. When asked, the retailers I spoke to saw EMV as offering no better security and a worse customer experience. The first talked about the customer experience, and how varied it was.
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Fintech Funding: Arc secures $20M series A
BankInovation
AUGUST 19, 2022
Fintech Arc announced Wednesday that it has secured $20 million in a series A funding round. The San Francisco-based startup’s platform gives software-as-a-service startups access to upfront capital and provides a cash management account to store and spend funds.
Can Banks Solve their Small-Dollar Loan Problem with Fintech Partnerships?
Bank Innovation
FEBRUARY 18, 2019
Aura, a San Francisco-based fintech offering affordable loans to low to moderate-income households, wants to partner with banks to offer those loans to consumers who have traditionally been unable to secure them from larger institutions.
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Startup Brex is raising money at a valuation above $2 billion
Bank Innovation
MAY 30, 2019
is close to securing new funding at a valuation north of $2 billion, according to people familiar with the matter. The San Francisco-based startup — whose main business is providing corporate credit cards to tech companies, startups and their employees — had previously raised money at […].
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Monzo Security Flaw Affects 500K Customers
PYMNTS
AUGUST 5, 2019
Monzo, one of the world’s largest digital banks, discovered a security flaw and is now asking half-million of its customers to change their personal identification numbers (PINs), TechCrunch reported on Monday (Aug. PINs are typically stored in a “particularly secure part of our systems.” . “No Monzo customers. In the U.S.
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SEC: Some Crypto Coins Are Securities (Not Bitcoin)
PYMNTS
JUNE 14, 2018
The Securities and Exchange Commission’s (SEC) leading authority on bitcoin, cryptocurrency and initial coin offerings (ICOs) has ruled that some well-known cryptocurrencies like bitcoin and Ethereum are not securities. As such, they can expect to come under the regulatory control of the SEC and relevant securities laws.
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12 Startups Showed Their Latest and Greatest at INV Fintech Demo Day
Bank Innovation
MARCH 9, 2018
EXCLUSIVE - On March 6 in San Francisco, 12 impressive startups demoed their latest in fintech technology at INV Fitnech's 2nd annual demo day. INV Fintech, the sister accelerator to Bank Innovation, is partnered with Fiserv and eight banking partners with over $3 trillion dollars in assets.
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California Seeks Court Order To Make Uber, Lyft Drivers Employees
PYMNTS
JUNE 24, 2020
California Attorney General Xavier Becerra said his office will file a request for a preliminary injunction in the Superior Court of California in San Francisco. The San Francisco-based global ride-hailing company said more than 158,000 Uber drivers in California would lose work if the reclassification happens.
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Digital Money Platform Uphold Acquires JNK Securities
PYMNTS
JUNE 27, 2018
Digital money platform Uphold announced that it has reached an agreement to acquire New York Stock Exchange member JNK Securities Corp. The company has global operations in Braga, London, Los Angeles, Mexico City, and San Francisco. With this acquisition, Uphold will boost its compliance and regulatory policies and practices.
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The Data Breach Case Against Facebook Is Moving Forward
PYMNTS
JUNE 25, 2019
Facebook had moved to have the case dismissed — but a federal appeals judge has shot down that argument, saying the case against Facebook for negligence and for failing to secure users’ data will proceed. The case was filed in San Francisco federal court as a class action. Discovery should move “with alacrity” for a trial, U.S.
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Blockchain Startup Ripple Registers Trademark For New PayString Offering
PYMNTS
NOVEMBER 13, 2020
Peter Brandt said on Twitter that the Securities and Exchange Commission would have declared XRP a security if it “understood cryptos,” per Cointelegraph. The new trademark registration has a description that is the same as Ripple’s “Ripplenet” filing in August, according to a Cointelegraph report.
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Uber Agrees To Pay $145M Fine To Settle Data Breach Lawsuit
PYMNTS
SEPTEMBER 26, 2018
California Attorney General Xavier Becerra and San Francisco District Attorney George Gascón announced on Wednesday (Sept. In a press release , the two AGs said the settlement also covers charges that Uber violated reasonable data security laws with its 2016 breach of driver and customer information.
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Federal, State Investigators Question Wells Fargo Over PPP Loans
PYMNTS
MAY 6, 2020
The San Francisco-based bank started processing applications for PPP loans on April 4, a day after the program opened. The PPP loans were part of the government’s Coronavirus Aid, Relief, and Economic Security (CARES) Act. On Tuesday (May 5) analysts at UBS Securities dropped Wells Fargo’s rating and earnings forecast.
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Fintech Is Back
Bank Innovation
MARCH 7, 2018
EXCLUSIVE (SAN FRANCISCO) -- Welcome back to the fintech boom. At this time last year, fintech was in a downturn. Fintech venture funding was down more than 9% year-over-year; valuations seemed stuck. But the fintech market has rebounded.
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236 San Francisco FHLB to Use $40M for Job Creation Programs
American Banker
MARCH 11, 2016
The Federal Home Loan Bank of San Francisco is exploring ways to use $40 million it received as part of a private-label securities settlement to support small-business development and job creation to help future homebuyers.
Enterprise Security Returns To Top Of B2B Investment Mountain
PYMNTS
MARCH 1, 2019
Cybersecurity returned to the top of the B2B startup investment list as three companies in the enterprise security realm landed nearly half of the $246 million in B2B venture capital this week. Cequence Security. Also operating in the enterprise security space is Cequence Security, based in California. Contrast Security.
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Disrupting The Security Deposit With Insurance
PYMNTS
JANUARY 21, 2020
And that is if the list is even open — in cities like New York, Los Angeles and San Francisco new applicants can’t even join but for open periods that occur every few years. The average security deposit in the U.S. Their savings might cover the security deposit — barely, in some cases — but will more or less be consumed.
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California Seeks Court Order That Uber, Lyft Drivers Are Employees
PYMNTS
JUNE 24, 2020
California Attorney General Xavier Becerra said his office will file a request for a preliminary injunction in the Superior Court of California in San Francisco. The San Francisco-based global ride-hailing company said more than 158,000 Uber drivers in California would lose work if the reclassification happens.
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5 questions with Varo Bank’s chief commercial and product officer
BankInovation
AUGUST 23, 2021
It has been a year since Varo Money broke ground by becoming the first fintech to secure a national bank charter without buying a bank. Bank Automation News recently checked in with Varo Bank’s Wesley Wright, chief commercial and product officer at the San Francisco-based startup, which was founded in 2015 and has raised $482.4 […].
Uber Of X: Bannerman, Uber of Security Guards
PYMNTS
DECEMBER 28, 2016
Safety may come first, but the security guard industry hasn’t really been updated in decades. As an “Uber of X” company, San Francisco–based Bannerman pairs security guards with businesses in high-rise buildings seeking protection. Security guards today rely very much on pen and paper and phone tag. Absolutely.
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Deep Dive: Striking A Balance In Digital ID Security
PYMNTS
JUNE 13, 2019
The Drawbacks of Complex Security. Digital IDs can be protected with common protocols, such as two-factor authentication (2FA), frequent password changes and detailed security questions. AI Solutions for Balancing Security and Convenience. Blockchain-Based Security Methods. More than 4.5
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129 DoorDash, mRelief Pair On Food Stamps For Low-Wage Workers
PYMNTS
FEBRUARY 4, 2019
Startup mRelief, which helps low-income workers access food stamps, is teaming up with food delivery startup DoorDash to offer DoorDash credit to people eligible for food stamps in San Francisco, according to a report in TechCrunch. Last year, the startup debuted an end-to-end process to aid food stamp enrollment in San Francisco.
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Varo Bank raises $510M in funding
BankInovation
SEPTEMBER 9, 2021
Varo Bank, the first fintech to secure a national bank charter, today announced a $510 million oversubscribed funding round, a new raise that more than doubles the company’s previous funding, bringing total funding for the San Francisco, Calif.-based based mobile bank to $992.4 The bank's total valuation now stands at $2.5
Ex-Uber Exec To File $250M SPAC IPO Backed By Former Google CEO
PYMNTS
OCTOBER 4, 2020
a special purpose acquisition company or SPAC , with the Securities and Exchange Commission (SEC). Michael served as chief business officer at the San Francisco-based ridesharing giant where he led the merger of Uber with Didi Chuxing Technology , a Beijing ridesharing company, according to the report.
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Group Hits 3 Universities, Demands Bitcoin Payments
PYMNTS
JUNE 4, 2020
The information comes from a ransomware gang, boasting that they successfully attacked the University of California San Francisco on June 3, the most recent attack. Before that, the group claimed to have attacked Michigan State University and Columbia College of Chicago, in a dark web blog accessed by Cointelegraph.
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Wells Fargo’s Mobile and Online Banking Outage Affecting Customers Nationwide
Bank Innovation
FEBRUARY 7, 2019
Wells Fargo customers nationwide are experiencing technical difficulty accessing the San Francisco-based bank’s online and mobile banking services.
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Revolut Brings Open Banking To Germany In Deal With TrueLayer
PYMNTS
NOVEMBER 17, 2020
The use of the TrueLayer platform ensures that account information from major German banks is securely integrated and updated in real time in the Revolut app,” the release said. Revolut said its new open banking offer was developed with TrueLayer , a London-based financial technology (FinTech) company. banking license.
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DoorDash Moves Ahead With 4Q IPO Plans
PYMNTS
AUGUST 23, 2020
DoorDash , the San Francisco-based prepared food delivery service, is planning to go public by year’s end, Bloomberg reported, citing sources. In February, the Silicon Valley-based delivery unicorn filed for an initial public offering (IPO) with the Securities and Exchange Commission (SEC). Palantir Technologies Inc.,
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Airbnb Notches Second $1B Loan As Bookings Fall
PYMNTS
APRIL 15, 2020
The San Francisco-based online marketplace for lodging said the financing will ensure it can continue investing in the company and its hosts and guests in more than 220 countries amid the coronavirus pandemic. “We Airbnb Inc. 5, according to a report by CityLab.Com last week. and Chicago, the survey revealed.
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SoftBank May Drop Plan To Buy $3B In WeWork Stock
PYMNTS
MARCH 17, 2020
On Tuesday (March 17), WeWork shareholders were sent a message from SoftBank claiming that several regulatory probes into WeWork were being done by not only the Department of Justice (DOJ), but also the Securities and Exchange Commission (SEC). In San Francisco, for example, citizens have been ordered to shelter in place.
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Unicorn FinTech PingPong Lands E-Money License
PYMNTS
DECEMBER 2, 2020
The B2B company has offices in New York, San Francisco, Japan, Hong Kong and Hangzhou, China. The San Mateo, California-based company said the new license would aid its expansion efforts and ensure that it can “provide a secure electronic wallet.”.
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Ripple Lawsuit Alleges Fraud In XRP Sale
PYMNTS
MAY 5, 2020
A little-known Puerto Rican company, Bitcoin Manipulation Abatement (BMA), has filed a lawsuit against Ripple , accusing the blockchain firm of breaking rules when it ran a recent securities sale, CoinDesk reported. billion XRP sale with the relevant authorities.
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Amazon One Lets Consumers Pay With Their Hand
PYMNTS
SEPTEMBER 29, 2020
But there are plans to expand it across Seattle, New York, Chicago and San Francisco, the company said. The service is designed to be highly secure and uses custom-built algorithms and hardware to create a person’s unique palm signature.”. The initiative comes as shoppers continue to explore contact-free payment technology.
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Brex Buys Three Companies To Enhance Startup-Boosting Product
PYMNTS
MARCH 24, 2020
San Francisco-based FinTech startup Brex has acquired Neji, Compose Labs and Landria to help it build out its product offerings for growing businesses. San Francisco startup Compose Labs specializes in next-generation video and runs CommonLounge, an intuitive platform for learning technology.
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Bitcoin Daily: Bank Of Russia Would Back Crypto Ban; Fidelity Develops Digital Token As Employee Incentive
PYMNTS
DECEMBER 1, 2019
Fidelity partnered with San Francisco-based security token platform TokenSoft to create and deploy the internal token using the ERC-1404 token standard, which is compliant with US Securities and Exchange Commission (SEC) guidelines for securities.
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Apple Snaps Up Startup With Device Management Platform
PYMNTS
JUNE 24, 2020
Our shared values of putting the customer at the center of everything we do without sacrificing privacy and security means we can truly meet our mission, delivering Fleetsmith to businesses and institutions of all sizes, around the world.”. “We’re thrilled to join Apple,” the company’s co-founders wrote. Terms of the deal were not disclosed.
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FinTech Plaid Teams With Banking Platform Jack Henry
PYMNTS
NOVEMBER 24, 2020
The tie-up gives Jack Henry customers access to the Plaid network and provides extra security to the 350-plus financial institutions using Jack Henry’s Banno digital platform. Plaid was launched by William Hockey and Zach Perret in 2012 and is headquartered in San Francisco. .
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