News
Stay up to date with the latest news in fintech, crypto, and digital finance. Our News section delivers concise, insightful coverage of market developments, funding rounds, regulatory updates, and innovations shaping the financial technology landscape.
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UK Mortgage Rates Fall: Good News for Homeowners
UK homeowners rejoice! Mortgage rates are on the decline. This week, the 30-year fixed-rate mortgage is at 6.26%, and the 15-year fixed-rate mortgage has fallen to 5.41%. These fresh figures come courtesy of the ABA Banking Journal. Indeed, this decrease in mortgage rates spells good news for prospective home buyers and current homeowners considering refinancing.…
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ABA Urges Collective Effort to Combat Bank Fraud
As financial fraud threats grow, banks worldwide are prioritizing cyber security. However, they can’t combat this issue alone. During a recent House subcommittee testimony, Paul Benda, a representative from the American Bankers Association (ABA), emphasized this fact. Benda highlighted the banks’ ongoing efforts to protect their customers from fraud during his testimony. Despite their vigilance…
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Anticipatory Banking Marks New Era in Industry
Anticipatory banking is ushering in a new era. This marks a significant departure from the traditional marketing strategies used in the banking industry. For years, banks have relied on mass distribution across various channels. Their ultimate aim? Delivering the right product or service to the right consumer at the right time. This process typically starts…
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ABA Ag Committee Chair on UK Ag Lending Challenges
The ABA Ag Committee’s Chair, Caleb Hopkins, recently discussed the current state of agricultural lending in the UK. He focused on the key issues ag lenders face and how to better support clients in farming, ranching, and agribusiness. For agricultural lenders and financial institutions, several unique challenges arise in the current climate. These encompass fluctuating…
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EHE Ventures Fuels UK AI Startups with £1.1m Investment
EHE Ventures, a Manchester-based investment firm, recently invested over £1.1m in seven UK-based AI startups. This move showcases their commitment to fostering innovation in the tech sector. They have backed a diverse range of AI applications with potential real-world impact. These investments span various sectors such as health, finance, and agritech. Through this investment, it’s…
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Zego Aims to Replace Black Box Insurance with App
UK insurtech company Zego is spearheading a major shift in the telematics insurance sector. The company plans to phase out traditional black box insurance in favor of a more user-friendly smartphone app. This innovative move aims to give drivers, especially new ones, greater control and transparency over their insurance policy. Black box insurance, or telematics…
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Bourse Securities Chief Shares Digital Assets Strategy
Bourse Securities chief, Giles Whitby-Smith, recently shared insights into the company’s strategic positioning for institutional digital assets. During a Behind the Idea series interview, he unveiled the company’s plan for navigating the rapidly changing fintech landscape. Bourse Securities is actively developing solutions as digital assets gain traction within the institutional arena. Clearly, the company is…
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US Federal Reserve Reform Bill Targets Inflation Control
House Financial Services Committee Chairman French Hill has introduced legislation to reform the Federal Reserve’s dual mandate. The bill’s aim is to narrow the central bank’s focus to solely curbing inflation. The Republican representative from Arkansas announced this development in a recent statement. At present, the Federal Reserve operates under a dual mandate, which requires…
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Princess Castleberry Warns of Leadership Capacity Crisis in Finance
Risk management is a critical aspect of financial services. Princess Castleberry, a leading figure in this field, has built a remarkable career around it. However, she’s identified a pressing issue affecting not just finance, but leadership across sectors. Castleberry warns about a ‘capacity crisis’ among leaders, which presents a significant risk. According to her, the…
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Alinma Bank Invests in Qashio to Boost Saudi Corporate Finance
Alinma Bank has strategically invested in Qashio, a spend management platform. This move targets comprehensive financial solutions for Saudi corporates. Alinma Bank’s decision reflects their dedication to enhance banking solutions using technology. They aim to enrich their services and offer innovative, user-friendly financial tools to customers. Qashio, known for its spend management platform, aligns perfectly…
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US August Housing Starts Drop 8.5% Year on Year
Recent figures from the U.S. Commerce Department reveal a significant drop in housing starts in August. The data shows an 8.5% fall from July and a 6% decrease from the same time last year. This downward trend could imply broader economic implications, indicating a slowdown in the housing construction sector. The report highlights a marked…
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FOMC Cuts Federal Funds Rate First Time Since 2024
The Federal Open Market Committee (FOMC) has made a significant announcement that’s stirring the finance sector. For the first time since December 2024, the FOMC has lowered the target range for the federal funds rate. This 25 basis points reduction sets a new range of 4%-4.25%. This adjustment indicates a major shift in the financial…
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TurmaFinTech Urges Fast-Track of UK Fintech Acquisitions of US Banks
Recently, Yerbol Orynbayev from TurmaFinTech called on US regulators to speed up UK fintech acquisitions of US banks. He believes this step will boost competition and ignite innovation in the banking sector. As the fintech sector expands worldwide, this call for an expedited approach is timely. Yet, UK fintech firms encounter regulatory roadblocks when trying…
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Canadian Credit Unions Harness AI to Upskill Staff
Leading the fintech world, Canadian credit unions are successfully using artificial intelligence (AI) to cut costs and streamline operations, according to a recent GFT report. Instead of replacing staff with AI, these financial institutions focus on upskilling their workforce. They view AI adoption as a proactive step to remain competitive and efficient in the changing…
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Whop Launches Innovative Payment Stack with Crypto Option
Whop is shaking up the fintech world with its unique payment stack. This pioneering innovation features smart routing, a tool designed to boost authorisation. It also offers global payouts through both traditional bank channels and crypto. The goal of this technology is to modernise the financial sector, providing a fresh alternative to conventional payment methods.…
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August Retail and Food Service Sales Show Encouraging Rise
The Commerce Department recently announced an encouraging rise in retail and food service sales for August. The data shows a 0.6% increase from July, totaling $732 billion in sales. This progress injects a much-needed boost into the retail sector, which is gradually recovering from the pandemic’s economic impact. Over the past few months, the retail…
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Steady Builder Confidence in Single-Family Homes in September
Builder confidence in single-family homes held steady in September, according to the latest NAHB/Wells Fargo Housing Market Index data. The index stood firm at 32. The NAHB/Wells Fargo Housing Market Index, published monthly, measures builder sentiments on current single-family home sales and sales expectations for the upcoming six months. Scores above 50 suggest more builders…
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Federal Reserve Reports August Rise in Industrial Production
Recently, the Federal Reserve reported a slight 0.1% rise in industrial production for August. Although this figure may seem small, it carries significant implications for the economy. Industrial production is a key economic health indicator. Even a small increase can hint at broader economic recovery or growth. This rise could potentially boost business confidence and…
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OCC to Ease Regulatory Burden for Business-Focused Banks
The Office of the Comptroller of the Currency (OCC) aims to reduce regulatory burdens on banks. This step would enable bank management to concentrate more on business challenges, says Comptroller Jonathan Gould. The OCC, a key banking sector regulator, understands the need to shift banks’ focus from regulatory issues to business operations. As part of…
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Dyna.Ai Launches Arabic AI Suite in Saudi Arabia’s Finance Sector
Dyna.Ai, an artificial intelligence (AI) technology company, has broadened its global footprint by introducing an Arabic-language AI suite in Saudi Arabia. This move supports the Kingdom’s burgeoning financial sector. The company’s innovative Agentic AI Suite and ‘AI Employees’ promise to revolutionise regional business operations. The AI Suite, a pioneering product, boasts a range of advanced…
