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fintech News

Prilex malware clones chip-and-pin payment cards

Cybercriminals have developed an effective way to clone chip-and-pin cards, according to research from Kaspersky Lab. The Prilex campaign has been active for over three years and is designed to subvert the latest protections introduced by card companies.

Interview: Mobile technology to make banking easier Special

Many people struggle with their savings or with their finances overall. To make it easier to save, mobile banking technology offers solutions. One example is with Mobile banking startup Varo Money, Inc., who have introduced SMS alerts to encourage saving.

Microsoft calls for 'dialogue' on blockchain security issues

Microsoft has published a whitepaper that provides policy recommendations for dealing with blockchain security. The company said that regulators and industry should engage with each other to better understand the risks and align incentives to improve.

EU publishes draft laws to boost fintech and blockchain

The European Union has proposed draft laws for fintech, crowdfunding and blockchain in an attempt to make itself attractive to new start-ups. The European Commission said it wants to create a "competitive and innovative" financial market using fintech.

Report: Fintech startups reliant on partnerships to survive

Fintech startups are having to reassess the way they provide their services as the industry becomes dominated by partnerships with banks. According to a new report, collaboration with existing firms is now the top priority at over 75% of new providers.

Network of fintech accelerator hubs established

London - British bank NatWest has embarked on a program to establish four fintech accelerators based in the U.K. The bank will provide resources with the aim of adopting some of the new technology.

New innovation for digital investment advice market

A Canadian based startup has raised funding and plans to disrupt the ever-changing digital investment advice market. The company is Wealthsimple and it has raised $51 million in funding from Power Financial Corp.

'Glitch' let customer purchase $2 trillion in Bitcoin for free

The Japanese cryptocurrency exchange Zaif has reported a "system glitch" which allowed customers to purchase cryptocurrencies without paying any value in yen. During the incident, customers used the platform to buy trillions of dollars worth of Bitcoins.

Banking regulators reluctant to act on 'hyped' fintech

Global banking regulators have indicated they're not rushing to introduce new fintech rules. A report from the Basel Committee on Banking Supervision has addressed the "hype" in fintech, comparing it to previous disruption in the financial industry.

Banks begging to engage with cryptocurrencies

Global banking is currently a $134 trillion industry and in the U.S. ten or so major banks have dominated the market for decades. This is set to be disrupted with blockchain and cryptocurrencies.

Where the top 10 U.S. banks are investing in fintech

A new market analysis report maps out how the top ten U.S. banks are investing in fintech. This is across categories like blockchain, insurance and lending.

Interview: Partnerships key to fintech trust building Special

Collaborative partnerships are becoming a "cornerstone" of fintech, Matthias Setzer of PayU told Digital Journal. Financial providers and tech firms are partnering to address trust concerns, avoiding a "culture clash" which could derail the industry.

'Gia' is an Alexa rival for the finance industry

Emagia, a provider of digital finance solutions, has launched an assistance platform to help finance executives and operations teams. Gia combines AI and analytics to provide business leaders with predictive reports and automated task completion.

JPMorgan makes push into payments technology

JPMorgan appears to be making a big push into payments technology. A new markets report signals that digital banking becomes a strategic priority for the "bulge bracket banks."

Fintech startup Curve launches its connected card app

UK-based fintech startup Curve has announced its innovative credit card app is now available to consumers. The company has developed a platform that lets you link all your card accounts to its app. You can then use any of them to pay with one card.

deVere Group reveals new cryptocurrency trading app

One of the world's largest independent financial advisor networks has announced it's readying a new cryptocurrency trading app in response to "soaring" demand. deVere Group said fintech is having a "fundamental" impact on the way we use and manage money.

BankMobile, aiming to make banking affordable: Interview Special

BankMobile is the largest technology-enabled bank in the U.S. in terms of number of consumer checking accounts, and its popularity is growing. To find out why this is we spoke with Luvleen Sidhu, Co-Founder of BankMobile.

Fintech is targeting millennials using AI

Millennials as a demographic are seen as technology savvy, but not particularly active investors. Fintech firms are targeting millennials using new technologies to tap into an otherwise underserved market.

Mylo, a fintech app that invests Canadians spare change

Toronto - The Montreal-based fintech app Mylo makes investing more affordable by rounding users purchases up to the nearest dollar and investing the spare change.

Older banking users turn away from fintech due to lack of trust

The growing numbers of fintech services offering mobile and cloud-based payments are failing to convert older users. One study from Canada found Generation X-ers are over twice as likely to try a digital payments solution as baby boomers.

Bitcoin market turns bearish as China plans 'orderly exit'

Bitcoin's value is slipping after leaked documents from China suggest the country's finance regulator could clampdown on cryptocurrency mining. Israel's central bank has also voiced concerns, saying today it will not recognise Bitcoin as a real currency.

China leading on risk management insurtech

China is becoming a global standard-bearer in the digitalization of many aspects of life, including fintech and insurance companies. One area where Chinese firms are leading the way is risk analysis.

North Korea allegedly hacking PCs to mine Monero cryptocurrency

North Korea has been accused of hacking server networks to install mining scripts for the Monero cryptocurrency. A new Monero mining hacker group has been seizing control of servers over the past year. It's now been linked back to North Korea.

Ripple rises to become second largest cryptocurrency

The Ripple cryptocurrency has rocketed in value over the past week to become the second most valuable by market cap. After experiencing massive growth over the holiday season, Ripple has surpassed Ethereum and reached a market cap of over $100 billion.

Amazon considers entering insurtech market

Amazon may enter the insurance market through a new channel. The e-commerce giant already offers some insurance-related digital services.

Digital strategies matter in bond markets

IT investments are popular on stock markets due to the potential of high rewards. New research shows that IT investments also matter to bond markets. However, investing here requires a different strategy, according to a new study.

DreamQuark wins the 2017 Fintech of the Year

Paris - A startup company called DreamQuark, which produces Artificial Intelligence applications for financial services, has been awarded the Finance Innovation ‘Fintech of the Year’ prize. The prize nominees demonstrate the diversity of fintech innovators

Gibraltar to launch fintech licenses for blockchain startups

Gibraltar will create a license for startups using blockchain tech as it seeks to attract more fintech firms to its territory. The specially designed license will be the first of its kind. It will formally recognise blockchains as a way to make payments.

Canadian insurtech joins U.S. accelerator program

Quebec - Canadian Insurtech company Ubios has been selected to join an accelerator program in the U.S., established to assist startups attempting to disrupt the insurance sector.

Banking cryptocurrency Ripple increases in value by over 50%

The cryptocurrency Ripple has more than doubled in price this week and is now the fourth largest by market cap. Ripple has overtaken Litecoin, another alternative coin with similar gains over the past week. Bitcoin's rally is driving the trend.
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fintech Image

The Revolut card pictured alongside the app in action.
The Revolut card pictured alongside the app in action.
Revolut/Business Insider
Curve app
Curve app
Bitcoin has enjoyed a stratospheric rise this year  approaching $10 000 from a 2017 low of $752 seen...
Bitcoin has enjoyed a stratospheric rise this year, approaching $10,000 from a 2017 low of $752 seen in January
Pixabay / Pexels
Nikolay Storonsky  CEO & Founder of Revolut.
Nikolay Storonsky, CEO & Founder of Revolut.
Revolut/Business Insider
PayU Chief Commercial Officer Matthias Setzer
PayU Chief Commercial Officer Matthias Setzer
Wala and financial service providers can make banking more accessible and minimize the costs of fina...
Wala and financial service providers can make banking more accessible and minimize the costs of financial products for users.

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