Fundbox is testing a payments and credit network for small businesses and their business clients that may offer an alternative to traditional lenders, credit card issuers and supplier financing.
American Express Ventures has become an investor in the startup EverCompliant, which helps financial institutions root out e-commerce websites backed by terrorists and drug cartels that are laundering money through payments-processing networks.
OCBC Bank in Singapore has seen a 35% reduction in false positives in its tests of artificial intelligence-based anti-money-laundering software. Other banks could follow its lead, though there are regulatory and customer-protection questions.
Franklin Synergy and MidFirst both plan to deploy the online lending platform, which according to its creator can render loan decisions in just under three minutes.
The venture capital firm Anthemis seeded 21 fintech startups in its first discretionary fund, which raised $106 million. It favors management teams made up of people from all walks of life who have fresh ideas about shaking up banking and insurance.
Disruptors would get a powerful new competitor if Amazon began offering checking accounts, but such a move would also validate the notion that fintechs are the future.
Banks increasingly avoid crypto, but Grainne McNamara at PwC has come up with a framework banks could use to participate in the digital currency world.
The Golden Contract Coalition, formed in mid-2016 to get community banks better deals with the “big three” core systems vendors, said banks need help with buying from fintech sellers as well.
WorldRemit's ambitious goals for its U.S. payment operations say a lot about how immigrants here are changing as customers — they’re digitally savvy, connected and mobile-ready.
