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ACCC Supports ASFI’s Push for Sustainable Finance Reforms in Australia: A Step Towards a Greener Future
The Australian Competition and Consumer Commission (ACCC) has granted interim authorisation to the Australian Sustainable Finance Institute (ASFI) and its member banks, enabling them to discuss reforms to regulatory capital requirements essential for promoting sustainable finance in Australia. This authorisation allows collaboration under strict competition protocols to manage sensitive information. ASFI, representing various financial sector stakeholders, aims to enhance financial stability while integrating sustainability into core practices. ASFI expressed optimism, viewing this as a critical step towards aligning Australia’s financial mechanisms with sustainable practices. This development is poised to advance significant reforms in Australia’s finance sector.
Panda Remit Partners with dLocal to Accelerate Cross-Border Remittances in Africa
dLocal has partnered with Panda Remit to enhance financial access in Africa by improving cross-border payments. This collaboration aims to address the inefficiencies in the current remittance infrastructure, which sees Sub-Saharan Africa with the highest global remittance costs, averaging 8.72% for a $200 transfer. By integrating with dLocal’s payment network, Panda Remit will reduce transaction costs, enhance payout speeds, and improve reliability, facilitating transfers through mobile wallets and bank services like M-Pesa and Airtel. Leaders from both companies emphasized the partnership’s potential to empower individuals and communities by providing efficient and affordable remittance solutions across the continent.
Charm Security Secures $8M Funding to Unveil Revolutionary AI-Driven Customer Protection Platform
Charm Security, an AI-powered customer security platform, has emerged from stealth mode to combat scams and human-centric fraud, securing $8 million in seed funding led by Team8. The platform’s mission is to develop real-time AI solutions that prevent fraud before it occurs by combining psychological insights with risk assessments. With plans to expand its team, enhance product development, and scale market presence, Charm aims to address the growing threat of AI-driven scams. CEO Roy Zur emphasizes the need for innovative strategies to protect users, while Team8’s Rakefet Russak Aminoach notes the urgent demand for new fraud prevention approaches.
Highnote Raises $90M in Series B Funding to Accelerate US Merchant Acquiring Expansion
Highnote, a prominent player in the embedded finance sector, has raised $90 million in a Series B funding round led by Adams Street Partners, with support from existing investors like Oak HC/FT and Costanoa. The funding will enhance Highnote’s card issuance and program management services, enabling businesses to integrate virtual and physical card payments into their products. A significant focus will be on launching an acquiring solution for unified transactions. Highnote’s API-driven platform allows companies to accept card payments online, offering direct integration with leading payment networks and certification from major US card brands, appealing to SMBs and enterprises.
HUMBL Secures $500K Funding to Boost Expansion in North and Latin America
HUMBL has secured a $500,000 investment from Quail Hollow Capital through a Convertible Promissory Note, aimed at enhancing its business operations. This funding will cover crucial public company expenses, including audits, accounting, legal services, and compliance costs. Under CEO Thiago Moura’s leadership, HUMBL is transitioning to prioritize shareholder value while operating in North and Latin American markets. The company offers a digital wallet for users to store and manage digital assets and payments. Moura highlighted that this investment will support essential operating costs and facilitate strategic growth and sales expansion in their markets.