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Centiglobe and Mastercard Join Forces to Revolutionize Cross-Border Payments
Centiglobe has partnered with Mastercard Move to enhance its blockchain-based payment platform, improving access to international payment services for its members, which include regulated banks and payment service providers. This integration allows near real-time transactions through a single connection, simplifying cross-border payment processes. Key benefits include enhanced accessibility to various payment services, a fixed cost structure based on transaction volume, and effective liquidity management. Mastercard Move supports over 180 countries and 150 currencies, connecting with over 95% of the global banked population. This collaboration aims to redefine the payment landscape and drive efficiency in international transactions.
Bourn Secures £1.5M Seed Funding to Transform Cash Flow Management for SMEs
Bourn, a UK FinTech startup focused on SME finance, has secured £1.5 million in seed funding to develop its AI-driven Flexible Trade Account (FTA). The funding round, led by Haatch, included investors like Love Ventures and Portfolio Ventures. Founded by industry veterans Roger Vincent, Nick Tracey, and Paul Gambrell, Bourn aims to address cash flow challenges faced by SMEs. Their FTA offers an alternative to traditional overdrafts, utilizing AI risk assessment and Open Banking technology. The funds will be used for product development and market expansion. New board member Leda Glyptis emphasizes Bourn’s commitment to enhancing financial accessibility for businesses.
Unlocking Seamless Investing: How WealthTechs Integrate Investment Solutions into Everyday Financial Apps
WealthTech is transforming investing by making it accessible to a broader audience, yet nearly half of Americans and Canadians remain disengaged from investment opportunities. Key barriers include lack of awareness and time constraints. Experts suggest embedding investing into daily financial routines through methods like round-up investing and automatic transfers. The demand for seamless, automated investing experiences is growing, especially among Millennials. However, firms must navigate regulatory and technical challenges to implement these solutions effectively. The future of WealthTech may include innovative applications such as direct investment options through payroll and enhanced engagement features during market volatility.
Paysafe and Fiserv Join Forces to Enhance Digital Wallet Solutions and Financial Access for Small Businesses
Paysafe has expanded its partnership with Fiserv to enhance financial tools for small and medium-sized businesses (SMBs). The collaboration focuses on improving capital access, enhancing fraud protection, and introducing a new digital wallet experience. Paysafe will integrate Fiserv’s Clover Capital to facilitate better funding for SMBs and utilize Data-as-a-Service tools to strengthen fraud protection. A new digital wallet within the Clover ecosystem will enable faster settlements and access to banking services, streamlining SMB operations. Both companies aim to empower SMBs in the digital economy, reflecting their commitment to innovative, growth-oriented solutions.
Passbolt Secures $8M Funding to Revolutionize Team Access Management Solutions
Passbolt, an open-source credential and access management platform, has raised $8 million in Series A funding, led by Airbridge Equity Partners, with support from several existing investors. Founded in 2016, Passbolt serves technical teams by enabling secure management and sharing of access credentials. The new funds will accelerate product development, address security challenges, and support the launch of Passbolt 5.0, targeting over 400,000 daily active users. The company has grown significantly, onboarding over 40,000 organizations and boasting 2,000 paid customers globally, meeting the rising demand for collaborative password management solutions.
CFTC Alerts Investors: Surge in AI-Driven Financial Fraud Threatens Your Assets
The Commodity Futures Trading Commission’s Office of the Chief Economist has issued a warning about the increasing use of generative AI in fraudulent schemes. The report, “Criminals Increasing Use of Generative AI to Commit Fraud,” details how criminals exploit AI to create realistic scams, including fake images, deceptive social media profiles, and fraudulent websites. Techniques also involve crafting fake identifications and forged documents. OCEO Director Melanie Devoe highlights the challenges of masking identities through advanced technologies. To safeguard against these threats, individuals are advised to exercise caution online, strengthen privacy settings, and avoid sharing personal information with unknown individuals.