Checkout reported a loss of £100.5 Million in its UK company
Checkout.com, one of the largest payment processors worldwide, recently made headlines when they announced an unexpected loss of £100.5 Million at their UK entity. Financial industry observers were left stunned and speculation ensued as to what factors caused such dramatic...
RockWallet’s Acquisition of Wyre’s Customer Base: An important Step Forward in Cryptocurrency Industry
RockWallet recently made headlines when they announced they would acquire Wyre's customer base following its closure as a cryptocurrency payment platform in June 2023. RockWallet's strategic decision demonstrates their dedication and focus towards expanding and strengthening their market position and...
Citigroup’s Strategy for Wealth Management Expansion: Ensuring Client Engagement
Citigroup recently took steps to enhance its wealth management services with an initiative designed to track frequency of calls from private bankers. According to reports in The Financial Times, Citi is committed to driving customer engagement and expanding growth within...
Carbon Acquires Vella Finance to Launch AI-Powered Platform for SMEs
Vella Financial was acquired by Carbon in a deal that promises to revolutionise Nigerian financial landscape. Carbon's goal for the acquisition is to develop an AI platform specifically adapted towards small and medium sized enterprises (SME). Although details on their...
RaiseFX Teams Up With iDenfy To Boost Trading Platform Security
iDenfy, a regulator technology company in Lithuania, has announced a strategic alliance with RaiseFX, an online CFD broker. The purpose of this partnership is to streamline identification verification processes and reinforce security protocols. This development assures users a user-friendly and...
Moneta Markets Adds Newest Malaysian Team In Southeast Asia
A major firm in online trading, Moneta Markets, has revealed its plan to expand its footmark in Southeast Asia. The company has formed a new team in the Malaysia ecosystem. This innovative approach aims to grow and extend market penetration...
SEC Enforcement Actions Target Broker-Dealers And Advisers For Communication Lapses
The Securities and Exchange Commission (SEC) has filed a lawsuit against 16 financial advisers and broker-dealers including top players like Oppenheimer and Guggenheim. These companies Bear the repercussions of refusing to maintain electronic communications, leading to combined civil penalties of...
CySEC Withdraws The License Of Leverate Financial Services
The Cyprus Securities and Exchange Commission (CySEC) has withdrawn CIF license from Leverate Financial Services. According to CySEC, the company’s voluntary renunciation of the license prompted the watchdog to take action in line with the Regulated Markets Law. Following Leverate’s withdrawal,...
PNC Bank Plans To Set Up New Branches With $1 Billion Investment
PNC bank has a significant investment of $1 billion as it plans to develop about 100 new branches in the next five years. It also aims to renovate over 1,200 already established locations, according to the latest report. The financial...
Rasa Concludes Latest Round Of Funding Co-Led By PayPal
Rasa, a top generative conversational AI platform, has announced the conclusion of its latest Series C round of funding. It raised a significant amount of $30 million from the funding round co-led by PayPal Ventures. The investment made by PayPal...
Bank of Ireland Welcomes New Chief Officer for Digital and Architecture
Bank of Ireland has selected Niamh De Niese to fill the newly created position as the Chief Digital and Architecture Officer. This freshly established role focuses on the next phase of the Group’s digital approach for both colleagues and users....
Vella Finance Acquired By Carbon To Innovate AI Solutions For Business Banking
Carbon, a digital bank in Nigeria, has purchased Vella Finance for the introduction of an AI-driven platform for SMEs. But the financial terms remain hidden. Carbon was introduced in 2016. It focuses on granting Nigerians access to credit as BNPL...
US Slams Fines On Companies Providing Technology To Iran’s Central Bank
The US has implemented sanctions against several individuals and companies involved in smuggling technology to the Central Bank of Iran (CBI). The Central Bank of Iran is designated by the United States for its involvement in providing financial assistance to...
Webull Integrates TradingView Charts For Seamless Trading Experience
The United States-based no-commission retail trading firm, Webull, has increased the number of brokers incorporated with the renowned charting platform. The company made this move Just less than a month after integrating the analytical tools of TradingView into its platform...
AI Firm Rasa Concludes Latest Funding Round Co-Led By PayPal
Rasa, a top AI platform, has announced the conclusion of its latest Series C round of funding, raising $30 million. This funding round was co-led by PayPal and StepStone Group. The investment made by PayPal is its first for a...