Dave, a fintech startup backed by Mark Cuban and Diplo, is launching a checking account that helps users build their credit score

Dave, a Mark Cuban-backed fintech firm that prevents overdrafts by providing small, interest-free cash advances, launched a new checking account product on Tuesday. Dave also said it had raised $110 million in debt led by Victory Park Capital. For more stories like this, visit Business Insider’s homepage. Let’s say you’re a new college graduate who hashit pause on your student […]

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Polish banking giant Alior to leverage Ethereum blockchain for first public ledger

While financial institutions still maintain the preconceived notion of cryptocurrency as a threat to their existence, the mass adoption of cryptocurrency and blockchain technology can no longer be ignored. With 2019 witnessing a surge in token offerings and the participation of a large number of non-financial players, some banking organizations have started to provide crypto/blockchain-based services as a primary differentiator. […]

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BLOCKCHAIN IN BANKING: An inside look at four banks' early blockchain successes and failures

This is a preview of the Blockchain in Banking research report from Business Insider Intelligence. 14-Day Risk Free Trial: Get full access to this and all Fintech industry research reports. Since its emergence at the start of the decade, blockchain has been heralded as one of the most transformative technologies for financial services. Blockchain hype has led financial institutions (FIs) […]

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Facebook Hires Standard Chartered Bank Lobbyist for Crypto Project: Report

Facebook’s hiring spree for its upcoming cryptocurrency, reportedly called “GobalCoin,” continues with the addition of a senior bank lobbyist from Standard Chartered, according to the Financial Times. In a report Friday, the FT said that the new hire, the bank’s managing director for group public and regulatory affairs, Edward Bowles, will join the social media giant in September. The FT does not […]

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Wall Street's massive tech spend has reached an 'inflection point' as billions in investment are starting to pay off

Banks have beenspending billions on technology in recent years. Banks executives made the rounds at financial conferences last week, and a unifying theme was how their monster tech budgets were resulting in meaningful savings. Investments in mobile channels, automation, and artificial-intelligence is eliminating costs like paper statements and deposited checks as well as interactions with tellers and call centers. JPMorgan […]

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Treasurer backs banking regulator’s plan to scrap key home loan rule

Treasurer Josh Frydenberg has highlighted the "social responsibility" of banks to lend money as he backed a plan by the financial regulator that will lift the maximum amount of money a home buyer can borrow. Fresh from a meeting he and Prime Minister Scott Morrison had with top officials from the Reserve Bank and the Australian Prudential Regulation Authority (APRA), […]

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Dutch Bank ABN AMRO Launches Blockchain Inventory Tracking Platform ‘Forcefield’

Dutch bank ABN AMRO announced that it is launching a blockchain inventory tracking platform dubbed Forcefield in a press release published on May 17. Per the announcement, the platform is an Internet of Things solution that allows the monitoring of physical trade inventories with sensors and near-field communication chips. Forcefield was developed over the past year as a stand-alone product […]

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Circle Releases Another Attestation Report on Stablecoin USDC’s USD Reserves

Goldman Sachs-backed crypto finance startup Circle has published the latest third-party audit of its USD-pegged stablecoin, USD Coin (USDC). The company reported the update in a blog post published on May 17. USD Coin is an Ethereum-based token compliant with the ERC20 standard that was first announced in May last year and released in September. Per this week’s announcement, the audit of the coin’s […]

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