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BANKS NEED TO PROTECT CONSUMERS FROM RISING LEVELS OF PAYMENTS FRAUD
Contactless and digital payments have without doubt grown in popularity during the last year, accelerated by the COVID-19 pandemic and consumers trying to avoid using cash to reduce the spread of the virus. As a consequence, the contactless limit in the UK has recently been increased to £100. While a welcome move for both consumers and the payments ecosystem, this increase comes with the inherent risk of more fraud.
POUND REMAINS STABLE AS UK ECONOMY REOPENS
Non-essential shops and services have reopened across England and Wales as lockdown rules are eased across the UK.
Gyms, hairdressers and zoos can now reopen, while pubs and restaurants are able to host customers in outdoor areas. Prime Minister Boris Johnson has urged people taking advantage of the eased restrictions to “behave responsibly” and continue to exercise advised steps to reduce the likelihood of contracting or spreading coronavirus.
MANAGING MONEY WITH AN ONGOING SICKNESS OR INJURY
Being faced with long-term illness or disability is incredibly stressful, and can cause serious implications for your finances. For those who have become financially vulnerable due to ongoing illness, or are looking for ways to plan for unexpected circumstances, business growth consultant Daniel Groves has compiled some the resources that can help.
PROSUS MAKES $14.6 BILLION FROM SALE OF 2% TENCENT STAKE
Amsterdam-based tech investor Prosus NV netted $14.6 billion overnight from the sale of a 2% stake in Tencent, the company announced on Thursday.
A filing from Tencent at the Hong Kong Stock Exchange revealed that Prosus had sold 191.89 million shares at HK$595.00 per share.
“Our belief in Tencent and its management team is steadfast, but we also need to fund continued growth in our core business lines and emerging sectors,” Prosus Chairman Koos Bekker said in a statement on Thursday, hours after the completion of the deal.
UNIFYING FINANCE FOR A COMMON CAUSE
In the world of finance, the convergence of two institutions – outside of an M&A – is uncommon. Beyond this, we rarely see two financial brands come together for a common cause. However, when it does happen, it’s critical that they present a clear and unified proposition if they are to achieve success. And the value of that should not be underestimated; the Marketing Accountability Standards Board, whose research from 2018 found that brands contribute an average of 19.5% enterprise value.
CYBER THREATS TO FINANCIAL ORGANISATIONS IN THE POST-COVID ERA
Unsurprisingly, financial services firms and their troves of sensitive data were a big target for threat actors in 2020. The rapid shift to remote work, coupled with insufficient budgets and a lack of training and awareness to mitigate attacks, led to an increased risk for many sectors. Despite the need for cybersecurity and the cost savings it can bring over the long haul (breaches are expensive, especially for financial organisations), businesses prioritised other functions and operations which more directly affected their bottom lines this past year.
DELIVEROO SHARES RALLY ON FIRST DAY OF RETAIL TRADING
Shares in food delivery startup Deliveroo rallied on Wednesday as its first day of unconditional trading on the London Stock Exchange began.
Wednesday marked the first time that retail investors could trade shares in Deliveroo, including the 70,000 who invested in the company’s IPO. It followed a week of “conditional” trading that began last week, during which only institutional investors could trade stakes in Deliveroo.
TRUELAYER AND WOMBAT PARTNERSHIP OFFERS PAYMENT APIS
TruLayer’s SaaS platform uses a toolkit to create specialist consumer and server message block (SMB) apps in payments, personal finance management and online lending. The collaboration with Wombat Invest, a swiftly growing startup investment platform that provides a user-friendly and secure interface for both novice and experienced investors, will provide the UK-based fintech with cutting-edge payment APIs for its investment customers.
KBR ENHANCES ITS CAPITAL STRUCTURE AND FINANCING FLEXIBILITY
KBR announced today that on November 18, 2021, the company successfully closed the fifth amendment to its credit agreement dated April 25, 2018, as previously amended.
Following a strategic shift in the company’s business mix, consistent performance against long-term financial targets, improvement in corporate credit ratings, and the continued resolution of legacy matters, the amendment measurably improves the company’s flexibility and reduces its debt service cost.
COINANALYST LAUNCHES CRYPTO INTELLIGENCE NEWSLETTER GLOBALLY
CoinAnalyst Corp. a company that provides an artificial intelligence-based big data analytics platform (the “Platform”) which delivers detailed AI-powered analysis of market sentiment, fundamentals, and technical indicators to investors in the digital asset sector and other industries, announced today the worldwide distribution of their Crypto Market Letter.
FUTURE FINTECH ANNOUNCES PLANS TO LAUNCH FINANCIAL APP IN THE UK
Future FinTech Group Inc. , a leading blockchain-based e-commerce business and a fintech service provider, announced today that its new subsidiary, FTFT UK Limited (“FTFT UK”), held an inauguration ceremony on November 19, 2021 for the opening of its new office in London, during which FTFT UK announced that it has entered the beta testing phase for its mobile financial app which will enable customers to engage in a comprehensive suite of e-wallet activities. Representatives from the local business and financial sectors, including executives of MasterCard, JP Morgan Chase, China Mobile and Bank of China attended the event.
REMITTER OFFICIALLY PARTNERS WITH VISA READY FOR FINTECH ENABLEMENT CERTIFICATION PROGRAM
Remitter USA Inc., an AI-powered, digital communications and collections platform used to optimize customer engagement and improve collections, is pleased to announce its official partnership with the VISA Ready Fintech Enablement Certification Program.
The Visa Ready program enables partners to accelerate their growth by providing certification guidelines and access to Visa products and go-to-market expertise. The program will allow Remitter to differentiate its solution, establish trust with potential clients and expand its business with the Visa Ready seal of approval.
COMPLYSCI ACQUIRES ILLUMIS, PREMIER TECHNOLOGY PROVIDER TO FINANCIAL SERVICES FIRMS AND AGGREGATOR OF POLITICAL CONTRIBUTION DATA
ComplySci (the “Company”), the leading provider of regulatory technology and compliance solutions for the financial services sector, announced today that it has acquired illumis Inc., a premier data aggregator and technology provider whose solutions are used by financial services firms to identify and mitigate risk from employee political contributions. The transaction is ComplySci’s second acquisition in Q4 2021 and the latest step in the company’s mission to provide private equity firms, hedge funds, broker dealers and other financial services institutions with a comprehensive platform for streamlining and automating employee compliance functions.
WALMART REWARDS MASTERCARD LAUNCHES FIRST-EVER PAYMENT INSTALLMENT PLAN EXPANDING SERVICES AND PAYMENT OPTIONS FOR WALMART CUSTOMERS
Walmart Canada and Duo Bank of Canada are launching the first-ever Walmart Rewards™ Mastercard® Installment Plan to offer Walmart customers even more convenient and flexible payment options.
Customers have said they want more payment flexibility when they shop. The new Installment Plan through the Walmart Rewards Mastercard provides flexible ways to pay for larger ticket items and shopping baskets. Duo Bank is the issuer of the Walmart Rewards Mastercard.
CIRCLE LAUNCHES ‘CIRCLE IMPACT’ TO IMPROVE FINANCIAL INCLUSION, DIGITAL FINANCIAL LITERACY AND HUMANITARIAN RESPONSE VIA DIGITAL CURRENCY
Circle Internet Financial, LLC, a global internet finance firm that provides payments and financial infrastructure to businesses of all sizes today announced the launch of Circle Impact. The initiative is dedicated to measurably improving three key areas of focus: financial inclusion, responsible financial service innovation, and supporting humanitarian efforts through the faster deployment of aid and relief using corruption-resistant real-time payments.
NUULA LAUNCHES FINANCIAL METRICS TOOL, INTEGRATING ACCOUNTING SOFTWARE DATA INTO THE NUULA MOBILE APP
Nuula, a fintech company focused on providing small businesses the tools and the capital they need to succeed, today announced the launch of its Financial Health tool — a new feature that lets small business owners stay on top of key financial metrics from their cloud accounting software right within the Nuula app.
With the Financial Health tool, small businesses can get real-time insights from their QuickBooks, FreshBooks, Wave or other accounting software anytime and anywhere.