Hello Fintech Friends,

🗽 It's been amazing seeing so much of the fintech community in town for New York fintech week.

⛵ Hope to keep that energy going with Osborne's TWIF Asia Fintech Cruise with Saison and Citi!

Fintech Cruise with Saison & Citi · Luma

** This event is selective and typically oversubscribed, so we prioritise fintech founders. If you’re raising, please make sure that you fill out all the form fields!** Calling fintech…

Qin En

‎The This Week in Fintech Podcast: TWIF News briefing - 12th April on Apple Podcasts

‎Show The This Week in Fintech Podcast, Ep TWIF News briefing - 12th April - Apr 11, 2024

Apple Podcasts

📝 And - in case you missed it, check out our latest whitepaper with Visa, Opportunities for Generative AI in Financial Services.

Please enjoy another week of fintech and banking news below. (👍👎 Have feedback for us? Let us know!)

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🏦 Financial Services & Banking

🚀 Product Launches

Crédit Agricole and Worldline launched CAWL, a joint venture to provide merchants with payment services tailored to the unique needs of their sectors.

📰 Other News

The CFPB is beginning to look into gaming assets, banking, and digital currency usage in video games and virtual worlds.

Spain's Santander is launching its Openbank neobank offering, with €18 billion in deposits and 2 million customers, across the United States and Mexico.

Hong Kong's financial regulator is set to give the green light to the first batch of bitcoin spot ETFs.

EBA Clearing will roll out a pan-European Verification of Payee feature by the end of the year.

The International Organisation of Securities Commissions launched a paper to examine the risks associated with the evolving business models of stock exchanges, while the New York Stock Exchange engaged with a pipeline of Japanese companies – some of which may consider a US listing over the next 18 months – and the London Stock Exchange Group secured regulatory approval to clear cash-settled Bitcoin index futures and options contracts.

💻 Fintech

🚀 Product Launches

Forage Adds In-Store EBT Processing, Creating Omnichannel Solution

Payment processor Forage now provides retailers with an omnichannel Electronic Benefits Transfer (EBT) processing solution.

PYMNTS.comPYMNTS

Airwallex rolled out its Borderless card in Canada.

insightsoftware, a provider of solutions for the office of the CFO, launched a budget planner.

Customer engagement, billing, and payments provider Everyware launched a suite of identity verification solutions for customer security.

Mexican buy-now-pay-later provider Kueski launched an in-store mobile payment solution.

Hong Kong's ZA Bank launched banking services for stablecoin issuers.

Hapax launched a generative AI product to provide industry-specific information, decision-making capabilities, and usable assets to banks.

Standard Chartered’s investment arm joined with Pan-African financial services group Old Mutual to roll out a financial wellness platform.

UnaFinancial, a Singaporean fintech group, which operates UnaCash, an in-app and in-store financial solutions provider, launched a lending app in the Philippines.

How Copilot makes budgeting even easier with new Apple Card, Cash, and Savings integration - 9to5Mac

We’ve written a lot about Copilot, the best budgeting app for iPhone and Mac. This week, however, the app has…

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📰 Other News

International neobank Revolut, with more than 40 million worldwide customers, received a full banking license in Mexico.

UK-based payment firm CAB Payments was granted a European payment service provider license from De Nederlandsche Bank to expand its footprint.

The Home Depot will invest more than 2 billion pesos in Mexico to strengthen its online retail.

The SEC investigated NBA Top Shot developer Dapper Labs, but decided to close case in September.

UK embedded banking provider ClearBank posted a full year pre-tax profit of £18.4 million.

🤝 Partnership Corner

Wise Platform, the embedded remittances infrastructure arm of cross-border provider Wise, partnered with Brazilian neobank Nubank to power their global account and international debit card.

Google Cloud signed partnerships with financial services firms including Citadel, Discover and Scotiabank.

👎 The Bad News

The US Secret Service seized $5 million held at Evolve Bank in the name of Bytechip, a crypto company the beneficial owners of which are both Chinese nationals, for a series of crypto frauds – while Bytechip is suing both banking-as-a-service platform Solid and Evolve to recoup the funds. 

The Federal Trade Commission may force OpenDoor to provide refunds to customers who sold properties on the platform, due to 'deceptive marketing tactics.'

Russia's antitrust agency is coming after Apple for removing Russian banking and payments apps from its App Store.

OneCoin's former chief compliance officer pleaded guilty to wire fraud and money laundering and was sentenced to 4 years in prison for his role in a '$4 billion ponzi scheme.'

A New York jury found Do Kwon and Terraform Labs liable for fraud in the SEC's case against the stablecoin provider.

The SEC warned Uniswap that it intends to bring an enforcement action against the decentralized exchange provider, presumably for operating an unlicensed securities exchange.

The Kansas City Fed served Mode Eleven Bancorp with a cease-and-desist order following an inspection in September, forcing it to shut down its fintech program.

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