5 Questions with FedNow CIO Dan Anthony
The large scope of building a national real-time payment system is what strikes Dan Anthony, chief information officer for the Federal Reserve’s real-time payment program, FedNow Service. The native of...
View ArticleFunding roundup: New Delhi-based Pine Labs nabs a $600 million investment round
This week, some of the more notable funding rounds included sizeable capital raises for a New Delhi fintech and two European companies, indicating investors ever increasing interest in making headway...
View ArticleSunrise plans ACH automation ‘strike team’
Sunrise Banks is putting together a “strike team” to transform ACH originations into an automated process from a manual one. The Minneapolis, Minn.-based bank with $1.2 billion in assets plans to hire...
View ArticlePowell says stable coins need regulation to protect U.S. public
Federal Reserve Chair Jerome Powell said there are potential risks from stable coins and that they require regulation to ensure their safety. Powell told the House Financial Services Committee on...
View ArticleSquare building new bitcoin-inspired financial services business
Square Inc. is creating a new business line to help developers build financial services products focused on Bitcoin, according to tweets from Chief Executive Officer Jack Dorsey. Square is “building an...
View ArticleIn crowded field, Square launches checking, savings products for small...
Digital payments company Square unveiled on Tuesday a new suite of financial products for small businesses. The rollout of Square Banking includes new savings and checking products, with the savings...
View ArticleApple Card ‘scaling’ with growth rate +20%
Apple's new credit card is part of a basket of products that drove 33% revenue growth last quarter, the company announced yesterday. Services revenue, which includes Apple Card, climbed to $17.5...
View ArticleSquare deal vaults Afterpay founders to $1.8B fortunes
As a wannabe investment banker, Afterpay Ltd. co-founder Nick Molnar was told to stick to his “side hustle” of selling jewelry on EBay Inc. instead of taking a job with a venture capital firm. If that...
View ArticleWhat’s the strategy behind Square’s largest-ever acquisition?
In a sign of the massive shifts in retail and online payments, Square announced on Aug 1 that it would acquire Australian fintech Afterpay for $29 billion, its largest acquisition to date. Afterpay, a...
View ArticleBIS proposes cross-border payment solution
The Bank for International Settlements (BIS) released a proposal this week that aims to break down obstacles to international payments presented by technology differences. Until now, instant...
View ArticleFunding Roundup: Payments fintech Rapyd scores second round of $300 million...
Last week saw two fintechs completing their second rounds of funding in 2021, with plans for expansion in key growth markets and technological advancements. Here are the Bank Automation News...
View ArticleCrypto platform FalconX quintuples valuation to $3.75B
FalconX, a cryptocurrency and digital-asset trading platform, has more than quintupled its valuation in five months to $3.75 billion, Chief Executive Officer Raghu Yarlagadda said in an interview. The...
View ArticleUpgrade CEO sets sights on IPO within 18 months
Credit card fintech Upgrade has ambitions to offer an initial public offering within 18 months after announcing yesterday it has secured a $105 million series E round from the investment arm of Koch...
View ArticleArgentina’s Uala valued at $2.45B after financing round
Argentine financial services startup Uala was valued at $2.45 billion in a financing round led by Japanese conglomerate SoftBank Group Corp. and Chinese Internet giant Tencent Holdings Ltd. Both...
View ArticleWatch: Zelle’s new ad campaign
Zelle, the person-to-person payments app utilized by leading banks and financial institutions, launched a new ad campaign on Thursday. The campaign aims to help participating institutions lure clients...
View ArticleCrypto services fintech FalconX raises $210M
Cryptocurrency financial services company FalconX raised $210 million in a series C funding round last week following a revenue growth that was 30 times higher than its previous fiscal year. The latest...
View ArticleBitcoin topping $50,000 stirs forecast of run toward record high
Bitcoin topped $50,000 for the first time since May as crypto prices continued an ongoing recovery from a disorderly rout just three months ago. The largest virtual coin advanced 3.8% to $50,272 as of...
View ArticleMark Cuban-backed firm Alethea is creating ‘intelligent’ NFTs
Non-fungible tokens are ready to get more interactive, according to one firm that’s working to create “intelligent” versions. Alethea AI, which allows users to embed AI animation, interaction, and...
View ArticleAfrica-focused fintechs raise nearly $700 million this week
African-focused fintechs raised nearly $700 million this week in funding rounds for cross-border payments company Zepz and Nigerian mobile-payments startup Opay. Governments and central banks in those...
View ArticleBig week for buy now, pay later
Buy Now Pay Later (BNPL) companies continue to attract buyers and investors alike as this week saw neobank Revolut announce it would work on a BNPL product, and PayPal bought Japanese BNPL provider...
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