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CIBC pulls mobile payments app instead of competing with Apple and Samsung Pay(BETAKIT)
CIBC mobile payments app was the first-ever credit card payment system for smartphones that used a secure SIM card within any NFC-enabled devices.
STACK RECOMMENDS: 3 reasons banks are collaborating with FinTech startups(HUFFPOST)
“FinTechs leading banks towards innovation.”
– Miro Pavletic, CEO and co-founder of STACK
Plug and Play launches a FinTech accelerator in Paris(TECHCRUNCH)
Startups joining the accelerator will meet and work with various BNP Paribas business units to see if they can solve a problem and work with the big bank at the end of the program.
Australian FinTech payments startup Airwallex raises A$17 million from Mastercard, Tencent, Sequoia China(CCN)
Airwallex plans to use the Series A funding to propel the release of its suite of APIs and fuel international expansion, notably into Europe.
BrainStation’s FinTech panel says retraining key to preparing for AI disruption(BETAKIT)
The panel says the future of FinTech is “magic.”
BNP Paribas Wealth Management launches four new digital platforms(FINEXTRA)
The platforms are designed to help clients manage their relationship with the BNP Paribas, an international bank, the way they prefer.
Barclays has just opened the largest FinTech lab in Europe(SILICONREPUBLIC)
The lab can house more than 40 FinTech companies, along with banking and tech teams from Barclays, and will serve as a gathering place for FinTech events and venture capital communities.
How to fix the blockchain ‘fail whale’ problem(TECHCRUNCH)
Companies seeking to leverage the undeniable power of the blockchain are being confronted by its scalability limitations. How do we as an industry confront the issue?
Wealthsimple receives Webby Award for Best Financial Services and Banking website(BETAKIT)
“We’re a technology company first, so a super intuitive, human site is crucial,” said Rudy Adler, CPO at Wealthsimple.
Walmart launches mobile money sending platform(FINEXTRA)
Walmart and American Express will introduce the Bluebird2Walmart Money Transfer Service, which allows accountholders of Bluebird – a checking and debit alternative – to digitally send money for cash pickup at Walmart store locations.
FinTech startup Satispay raises €14M in funding(FINSMES)
The Italy-based startup raised the funds from existing shareholder Iccrea Banca and other undisclosed investors.
China’s Ping An launches $1 billion FinTech and health care fund(CNBC)
The fund will look for investments in early-stage FinTech and healthcare technology firms from around the world.
Competition Bureau suggests Canadian FinTech sector’s slow growth due to regulation, consumer complacency(BETAKIT)
The Competition Bureau hosted a workshop with 130 Canadian and international FinTech stakeholders to discuss how Canada can improve its competitive environment.
FinTech business financing: The new frontier(FORBES)
When the financial services industry began, it was as uncharted and untamed as the Wild West. Now, FinTech lending companies have settled into the sector and created an alternative way for consumers to access business financing services.
SMB credit score startup, Nav, raises $13M(PYMNTS)
The startup, which allows lenders to connect with SME borrowers, raised the funds from Goldman Sachs Principal Strategic Investments. CreditEase FinTech Investment Fund, Point72 Ventures, and Clocktower Technology Ventures also participated in the round.
Korean bitcoin exchange leads FinTech consortium with partner banks for blockchain development(CCN)
In particular, the consortium is looking to introduce new services and features to South Korean consumers such as micro-remittance using blockchain technology based on a foreign exchange model.
Three Canadian startups win $50,000 at Interac’s Collision Day Challenge(BETAKIT)
The startups will work with Interac over the next year to bring their innovative money transfer solutions to market.
FinTech funding in New York declines(CCN)
During the first three months of 2017, FinTech funding to VC-backed New York companies dropped by 35 percent on a quarterly basis, according to a new report by CB Insights.