June 27, 2024
Evolve Confirms Ransomware Hack as Challenges Grow at FinTech Partner...

It’s been a bad month for Evolve Bank & Trust, and it’s only getting worse. Following a “cease and desist” order issued to the bank on June 14, the Arkansas-based...

June 27, 2024
Regulating Digital Currencies: Ensuring an Efficient and Competitive Payment Market

There is consensus that promoting competition and innovation is a foundational principle in regulating Central Bank Digital Currencies (“CBDCs”). Competition with existing means of payment (“inter-system competition”) should always be...

June 27, 2024
Surviving Regulation by Enforcement

In the 16 years since Satoshi Nakamoto published the original Bitcoin whitepaper, U.S. regulators have failed to promulgate regulations to provide a clear legal framework for the burgeoning digital asset...

June 26, 2024
Nubank Accelerates AI-First Strategy With Hyperplane Acquisition

Digital banking platform Nubank has acquired data intelligence company Hyperplane, saying this move will accelerate its artificial intelligence (AI)-first strategy. With the addition of Hyperplane’s capabilities to Nubank’s existing AI...

June 25, 2024
Trending: Banking-as-a-Service Upheaval Will Stabilize

One of the themes in PYMNTS’ monthly “What’s Next in Payments” series is that the Banking-as-a-Service (BaaS) model is under pressure right now. Synapse declared bankruptcy, while Evolve Bank and...

June 20, 2024
Singapore Says Banking Sector Is Top Money Laundering Risk

Singapore has identified banks as the entities posing the greatest money laundering (ML) risk to the country. The Monetary Authority of Singapore (MAS), which is a government agency, said this in...

June 20, 2024
Binance Hit with $2.25 Million Fine by India for AML...

India’s Financial Intelligence Unit (FIU) has imposed a fine of 188.2 million rupees ($2.25 million) on Binance, the world’s largest cryptocurrency exchange, for operating in the country in violation of...

June 19, 2024
Starling Bank Takes Debtors To Court Amid UK Watchdog Probe

Starling Bank is reportedly taking several debtors to court amid a U.K. financial watchdog’s investigation. The neobank has filed petitions against 24 companies that have defaulted on their loans, the...

June 18, 2024
Prometeo Launches Bank Account Validation Offering for US Market

Latin American FinTech Prometeo has launched its Bank Account Validation (BAV) offering for the U.S. market. This offering enables Latin American businesses to connect with all U.S. banks via one...